Using data from our latest annual broker review which tested more than a dozen 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). TradeStation Securities's per contract rate of $0.50 is less than Scottrade which charges $0.70. 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 offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Scottrade offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Scottrade boasts an offering of 13599 mutual funds compared to TradeStation Securities's 4951 available funds. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Scottrade alongside 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. Clients can have Checking Accounts, Savings Accounts and Debit Cards at Scottrade while customers at TradeStation Securities can have 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 2018, while Scottrade found itself with none of these.
Overall, Scottrade boasts 4.00 stars versus TradeStation Securities's 3.50 stars.