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 5,000 data points, let's compare E*TRADE vs TradeStation Securities.
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, with its regular stock trades costing $6.95, is more expensive than TradeStation Securities's rate of $5.00 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $5.00 (TradeStation Securities). Each option contract then costs $0.75 at E*TRADE and $0.50 at TradeStation Securities. 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. E*TRADE and TradeStation Securities provide clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, E*TRADE offers its clients access to 8998 different mutual funds while TradeStation Securities has 4951 available funds, a difference of 4,047. Commission free ETFs can also be valuable for customers, with E*TRADE having the upper hand thanks to its 270 available commission free ETFs compared to TradeStation Securities's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities makes virtual trading available to clients, while E*TRADE does not. Taking a look at mobile trading, E*TRADE and TradeStation Securities both have a 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 and Debit Cards are available to clients of E*TRADE while TradeStation Securities offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, E*TRADE was rated Best in Class - Research and Best in Class - Mobile Trading, while TradeStation Securities was rated Best in Class - Platforms & Tools.
Overall, E*TRADE comes out on top with 4.50 stars over TradeStation Securities's 4.00 stars.