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 TradeStation. Is E*TRADE or TradeStation 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 TradeStation have equal fees for trading stocks (equities), $0 per trade. For options trading, both E*TRADE and TradeStation charge the same base fee of $0. Option contracts are pricier at E*TRADE, costing $0.65 versus $0.50 at TradeStation. 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. Both E*TRADE and TradeStation support Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, E*TRADE boasts an offering of 9291 mutual funds compared to TradeStation's 4357 available funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. E*TRADE and TradeStation both offer virtual trading. For mobile trading, E*TRADE along with TradeStation both support the 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, Savings Accounts and Debit Cards at E*TRADE while customers at TradeStation can have none of these.
Overall, between E*TRADE and TradeStation, E*TRADE is the winner.