Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Interactive Brokers vs Scottrade to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Interactive Brokers and Scottrade.
First we will break down the commission charges of both brokers for placing stock and options trades. Scottrade, with its regular stock trades costing $6.95, is more expensive than Interactive Brokers's rate of $0.00 (the broker charges a per share rate instead) per trade. Looking at trading options, Interactive Brokers's base fee is $0.00 while Scottrade's is $6.95. Contracts at both of the brokerages are the same at $0.70 each. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Scottrade offers clients Stock Trading, Options Trading and Mutual Funds while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Scottrade offers its clients access to 13599 different mutual funds while Interactive Brokers has 8026 available funds, a difference of 5,573.00. And, commission free ETFs deserve a mention, with Scottrade falling behind Interactive Brokers, offering 0 commission free etfs compared to Interactive Brokers's 33.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Interactive Brokers and Scottrade both have virtual trading. For mobile trading, Both Interactive Brokers and Scottrade offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts, Savings Accounts and Debit Cards are offered by Scottrade while Interactive Brokers offers none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, Interactive Brokers posted awards for Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2014, while Scottrade found itself with none of these.
Overall, both Interactive Brokers and Scottrade are rated 4.00 stars.