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 4,000 data points, let's compare SpeedTrader vs TD Ameritrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SpeedTrader charges $4.49 per stock trade which is $4.49 more than TD Ameritrade which charges customers $0 per trade. For options trading, both SpeedTrader and TD Ameritrade charge the same base fee of $N/A. Option contracts are pricier at TD Ameritrade, costing $0.65 versus $0 at SpeedTrader. 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. SpeedTrader offers clients Stock Trading and Options Trading while TD Ameritrade offers Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. Looking at mutual funds, SpeedTrader trails TD Ameritrade by 12,418 total mutual funds, with TD Ameritrade offering 12418 and SpeedTrader offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SpeedTrader alongside TD Ameritrade offer virtual trading. Taking a look at mobile trading, SpeedTrader offer clients access to an iPhone App and Android App while TD Ameritrade has 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, Debit Cards and Credit Cards are offered by TD Ameritrade while SpeedTrader offers none of these.
Overall, between SpeedTrader and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review