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Interactive Brokers vs Scottrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, July 12th, 2017

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.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Two-Factor Authentication Login
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Interactive Brokers
Special Offer Trade on over 100 market centers in 24 countries Learn More
Interactive Brokers Review
 
4
4.5
4.5
4.5
3
3.5
4
2.5
3
5
0.5
 
N/A
$0.00
$0.70
$14.95
$30.00
$10,000.00
No
No
 
Yes
Yes
Yes
No
Yes
 
Yes
Yes
Yes
9
124
37
338
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
Yes
Yes
Yes
 
33
5823
8026
4500
0
Yes
 
1.91%
1.91%
1.91%
1.61%
1.61%
1.41%
1.61%
 
No
No
No
No
No
No
Scottrade
Scottrade Review
 
4
3.5
3
4
4.5
4.5
3.5
4.5
4
3.5
4
 
$6.95
$6.95
$0.70
$17.00
$32.00
$2,500.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
67
28
236
 
Yes
Yes
Yes
No
No
 
Yes
No
No
Yes
No
 
0
7213
13599
3500
503
No
 
8.00%
7.25%
7.00%
6.50%
6.25%
5.25%
5.75%
 
Yes
Yes
No
Yes
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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