The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Interactive Brokers vs Scottrade. Is Interactive Brokers or Scottrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Scottrade charges $6.95 per stock trade which is $6.95 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $6.95 (Scottrade) and $0 (Interactive Brokers). Option contracts cost $0.70 each at both brokerages. 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. Scottrade offers clients Stock Trading, Options Trading and Mutual Funds while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to Interactive Brokers's 8026 available funds. Commission free ETFs can also be a nice plus, Interactive Brokers offers 33 commission free ETFs versus Scottrade's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Interactive Brokers alongside Scottrade offer virtual trading. For mobile trading, Interactive Brokers and Scottrade both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are available to clients of Scottrade while Interactive Brokers offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Scottrade came up with none of these.
Overall, both Interactive Brokers and Scottrade are rated 4.00 stars.