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 Scottrade 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. Scottrade charges $6.95 per stock trade which is $1.95 more than TradeStation Securities which charges customers $5.00 per trade. For options trading, Scottrade has a base fee of $6.95, and TradeStation Securities a base fee of $5.00. Option contracts are pricier at Scottrade, costing $0.70 versus $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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Scottrade offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to TradeStation Securities's 4951 available funds. Commission free ETFs can also be valuable for customers, which for investors means access to 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Scottrade and TradeStation Securities both offer virtual trading. Taking a look at mobile trading, Both Scottrade and TradeStation Securities offer clients access to an 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 TradeStation Securities offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Scottrade nor TradeStation Securities received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, both Scottrade and TradeStation Securities hold a 4.00 star rating.