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. SpeedTrader charges $4.49 per stock trade which is $4.49 more than E*TRADE which charges customers $0 per trade. With options, the base fee is $0 for both E*TRADE and SpeedTrader. Each option contract then costs $0.65 at E*TRADE and $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, E*TRADE offers its clients access to 9062 different mutual funds while SpeedTrader has 0 available funds, a difference of 9,062.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both E*TRADE and SpeedTrader offer virtual trading. Taking a look at mobile trading, SpeedTrader offer clients access to an iPhone App and Android App while E*TRADE has an 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. Checking Accounts, Savings Accounts and Debit Cards are available to clients of E*TRADE while SpeedTrader offers customers none of these.
Overall, between E*TRADE and SpeedTrader, E*TRADE is the winner.