Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare SpeedTrader vs TradeStation 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. TradeStation charges more than SpeedTrader for placing regular stock trades ($5.00 and $4.49, respectively). For options trading, TradeStation has a base fee of $5, and SpeedTrader a base fee of $N/A. SpeedTrader's per contract rate of $0 is less than TradeStation which charges $0.50. 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. SpeedTrader offers clients Stock Trading and Options Trading while TradeStation offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, TradeStation boasts an offering of 4357 mutual funds compared to SpeedTrader's 0 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. SpeedTrader alongside TradeStation offer virtual trading. For mobile trading, SpeedTrader supports the iPhone App and Android App while TradeStation supports the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Neither SpeedTrader nor TradeStation offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. All factors considered, when it comes to platform tools, research, and mobile trading, both SpeedTrader and TradeStation were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between SpeedTrader and TradeStation, TradeStation is the winner