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, with its regular stock trades costing $6.95, is more expensive than TradeStation Securities's rate of $5.00 per trade. With options, the base fees charged are $6.95 (Scottrade) and $5.00 (TradeStation Securities). Each option contract then costs $0.70 at Scottrade and $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 is a wash in this comparison as both Scottrade and TradeStation Securities offer 0 commission free ETFs.
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, Scottrade and TradeStation Securities 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 offered by Scottrade while TradeStation Securities offers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Scottrade found itself with none of these.
Overall, both Scottrade and TradeStation Securities hold a 4.00 star rating.