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E*TRADE vs Scottrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Thursday, May 25th, 2017

Comparing brokers side by side is no easy task. For our 2017 Broker Review, we factored in 308 different variables to assess 16 different brokers. So when taking a look at E*TRADE vs Scottrade, there is a huge database of information available to us.

To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. E*TRADE and Scottrade both cost $6.95 per trade. For options trading, both E*TRADE and Scottrade charge the same base fee of $6.95. At a difference of $0.05 per contract, Scottrade's per contract rate of $0.70 is less than E*TRADE which charges $0.75. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review page, then scroll to the "Commissions Notes" section).

Next to commission rates, being able to trade the instrument you want is important. Scottrade offers clients Stock Trading, Options Trading and Mutual Funds while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, E*TRADE trails Scottrade by 4,947.00 total funds, with Scottrade offering 13599 and E*TRADE offering 8652. Commission free ETFs also should not be forgotten, E*TRADE offers 133 versus Scottrade's total of 0.

Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Scottrade has virtual trading, E*TRADE doesn't. Taking a look at mobile trading, E*TRADE along with Scottrade both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at E*TRADE while clients at Scottrade can have Checking Accounts, Savings Accounts and Debit Cards. On the whole, when it comes to tools, research, and trading on the go, E*TRADE finished with awards for Best in Class - Research and Best in Class - Mobile Trading in 2014, while Scottrade came up with none of these.

Overall, both E*TRADE and Scottrade hold a 4.00 star rating.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
E*TRADE
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E*TRADE Review
 
4
2.5
4
4
4.5
4
4.5
4.5
4.5
2.5
3.5
 
$6.95
$6.95
$0.75
$19.99
$25.00
$500.00
Yes
Yes
 
Yes
Yes
Yes
No
Yes
 
Yes
Yes
No
24
118
39
130
 
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
 
133
4276
8652
3000
30
 
8.75%
8.50%
8.00%
7.50%
7.00%
5.50%
6.50%
 
Yes
No
No
Yes
No
Yes
Scottrade
Scottrade Review
 
4
3.5
3
4
4.5
4.5
3.5
4.5
4
3.5
4
 
$6.95
$6.95
$0.70
$17.00
$32.00
$2,500.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
67
28
236
 
Yes
Yes
Yes
No
No
 
Yes
No
No
Yes
No
 
0
7213
13599
3500
503
 
8.00%
7.25%
7.00%
6.50%
6.25%
5.25%
5.75%
 
Yes
Yes
No
Yes
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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