Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare OptionsHouse vs Scottrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Scottrade charges $6.95 per stock trade which is $2.00 more than OptionsHouse which charges customers $4.95 per trade. With options, the base fees charged are $6.95 (Scottrade) and $4.95 (OptionsHouse). OptionsHouse's per contract rate of $0.50 is less than Scottrade which charges $0.70. 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. Scottrade supports Stock Trading, Options Trading and Mutual Funds while OptionsHouse supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Scottrade offers its clients access to 13599 different mutual funds while OptionsHouse has 12275 available funds, a difference of 1,324. Commission free ETFs can also be valuable for customers, with Scottrade falling behind OptionsHouse, offering 0 commission free ETFs compared to OptionsHouse's 5.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. OptionsHouse and Scottrade both offer virtual trading. Taking a look at mobile trading, OptionsHouse and Scottrade 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, Savings Accounts and Debit Cards are available to clients of Scottrade while OptionsHouse offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, OptionsHouse posted awards Best in Class - Mobile Trading in 2017, while Scottrade found itself with none of these.
Overall, both OptionsHouse and Scottrade hold a 4.00 star rating.