Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 4,000 data points, let's compare E*TRADE vs SpeedTrader.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. E*TRADE charges $6.95 per stock trade which is $2.46 more than SpeedTrader which charges customers $4.49 per trade. Looking at trading options, E*TRADE's base fee is $6.95 while SpeedTrader's is $N/A. Option contracts are pricier at E*TRADE, costing $0.75 versus $0 at SpeedTrader. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. SpeedTrader offers clients Stock Trading and Options Trading while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, SpeedTrader trails E*TRADE by 9,062 total mutual funds, with E*TRADE offering 9062 and SpeedTrader offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SpeedTrader has virtual trading, E*TRADE doesn't. Taking a look at mobile trading, SpeedTrader supports the iPhone App and Android App while E*TRADE supports 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, Savings Accounts and Debit Cards at E*TRADE while customers at SpeedTrader can have none of these. On the whole, when it comes to tools, research, and mobile trading, both E*TRADE and SpeedTrader were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between E*TRADE and SpeedTrader, E*TRADE is the winner