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 TradeStation.
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 $1.95 more than TradeStation which charges customers $5.00 per trade. Looking at trading options, TradeStation's base fee is $5.00 while E*TRADE's is $6.95. TradeStation's per contract rate of $0.50 is less than E*TRADE which charges $0.75. 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. Both E*TRADE and TradeStation support 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 TradeStation has 4357 available funds, a difference of 4,705.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation makes virtual trading available to clients, while E*TRADE does not. Taking a look at mobile trading, Both E*TRADE and TradeStation offer clients access to 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 offered by E*TRADE while TradeStation offers none of these.
Overall, between E*TRADE and TradeStation, E*TRADE is the winner