The StockBrokers.com annual broker review assesses more than a dozen 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 both cost $6.95 per trade. Looking at options, the base fees charged are the same for both brokers, $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 provides its clients with Stock Trading, Options Trading and Mutual Funds while E*TRADE provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to E*TRADE's 8998 available funds. Commission free ETFs can also be a nice plus, with E*TRADE having the upper hand thanks to its 156 available commission free ETFs compared to Scottrade's offering 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 makes virtual trading available to clients, 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 2018, while Scottrade found itself with none of these.
Overall, both E*TRADE and Scottrade share a rating of 4.00 stars.