Scottrade vs Etrade is the competition of two biggest online broker businesses. Each of the companies have millions of customers. That is why most investors make these two companies as their first choices when they want to make new account of brokerage. If you are also going to choose one of the companies. It is important to compare each of them one by one. The details about the two brokers can be learnt below. So you can choose Scottrade or E*Trade with best educated comparison.
The Commissions and Fees
Both of the brokers don’t have annual fees or inactivity. Yet you can choose Scottrade if you want to get straight up costs of stock trading. This company has flat commission as much as $7 but have so many traders. Besides, the trade commission will be reduced $6.99 if the investors can trade 1,500 or much more times per quarter.
Scottrade is also cheaper for the traders. For each contract, the company only charge $0.70 on the base commission top. Whilst the E-tradehas $0.75 charge for every contract on the commission top. In this way, Scottrade must be the choice of most investors and the very active traders commonly choose E-Trade.
The Investment Options
In the point of investment selection, E-Trade is a better choice. There are some reasons for this. E-trade provides over 100 ETFs with no commission, whilst Scottrade doesn’t offer anything. Besides, the account holders of E-trade can trade in the futures. Yet the mutual funds ofScottrade are over 2,500 no funds as the transaction fee. Whilst E-Trade has over 1,300 mutual funds. For these reasons, E-Trade is better because of the no commission free ETFs so that you only should pay $7 for every trade.
Platforms of Tools, Research and Trading
Scottrade vs E-Trade are both getting docked review stars because the companies have the minimum requirements of balance and they also are set aside for traders in high volume.
– The Scottrade Elite is for premium customers with $25,000 or more balances so they are making 9 or more trades in three last months.
– E-Trade Pro is for customers that has minimally $250,000 balance or those who make minimally 30 stocks or trades in a quarter.
For the active traders, E-Trade must be a great choice. The tools that generate idea are offered by the platform such as Strategy Scanner, option screener for professional level, back testing, as well as the charting that can be customized.
Meanwhile, Scottrade Elite has better accessibility and has some awesome features such as Intraday Trader from Regognia that assists the investors to spot trade, track and then receive the technical events in custom notifications. The charting functionality makes many more investors prefer Scottrade Elite rather than E-Trade Pro. Both of the companies provide high quality trading platforms that are browser-based for all of the customers. The customers also can access freely the data and research. Therefore, you can choose any of the brokers based on your needs. You can contact the Scottrade customer service phone number to get more information.