Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, we can compare Scottrade vs TradeStation Securities to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Scottrade charges more than TradeStation Securities for placing regular stock trades ($6.95 and $5.00, respectively). With options, the base fees charged are $6.95 (Scottrade) and $5.00 (TradeStation Securities). Option contracts are pricier at Scottrade, costing $0.70 versus $0.50 at TradeStation Securities. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. TradeStation Securities supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Scottrade supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Scottrade offers its clients access to 13599 different mutual funds while TradeStation Securities has 4854 available funds, a difference of 8,745. And, commission free ETFs deserve a comparison, which is a wash in this comparison as both Scottrade and TradeStation Securities offer 0 commission free ETFs.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Scottrade and TradeStation Securities offer virtual trading. For mobile trading, Scottrade along with TradeStation Securities both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts and Debit Cards are offered by Scottrade while TradeStation Securities offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2017, while Scottrade found itself with none of these.
Overall, Scottrade boasts 4.00 stars versus TradeStation Securities's 3.50 stars.