The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares E*TRADE vs Scottrade. Is E*TRADE or Scottrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. E*TRADE and Scottrade charge the same amount for regular stock trades, $6.95. For options trading, both E*TRADE and Scottrade charge the same base fee of $6.95. Each option contract then costs $0.75 at E*TRADE and $0.70 at Scottrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Scottrade supports Stock Trading, Options Trading and Mutual Funds while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Scottrade offers its clients access to 13599 different mutual funds while E*TRADE has 8652 available funds, a difference of 4,947. Commission free ETFs can also be a nice plus, E*TRADE offers 133 commission free ETFs versus Scottrade's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade offers virtual trading while E*TRADE does not. For mobile trading, E*TRADE and Scottrade both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at E*TRADE while customers at Scottrade can have Checking Accounts, Savings Accounts and Debit Cards. On the whole, when it comes to tools, research, and mobile trading, E*TRADE posted awards Best in Class - Research and Best in Class - Mobile Trading in 2017, while Scottrade found itself with none of these.
Overall, both E*TRADE and Scottrade share a rating of 4.00 stars.