Reviewing Scottrade vs. Etrade is not a simple task; both Scottrade and Trade are most reputed online brokers and comparing and contrasting them in detail require the whole insight of the financial online brokers. We compared Scottrade and Etrade’s commission, fees, an offering of investments, research and tools, mobile trading, customer service and overall broker rating to help you assess and make the choice what appropriate platform is for you to trade on. In-depth assessment of the most crucial concerns that helps you make a choice what suits you.
Here we will touch your concern step by step each one, in brief, to let you make the conclusion yourself.
Fees and accounts minimum – Scottrade vs. Etrade
When it comes to the fees Scottrade is said to have its trade at stern $7 per trade while Etrade charges $9.99 and provides a $2 discount for traders who place 150 + trade per quarter. The trade option Scottrade pays is $0.70 while Etrade opinions fee is $0. 75.
The minimum initial deposit for Scottrade comes at $2,500 while Etrade lets you in for a minimum deposit $500.
Mutual funds – Scottrade vs. Etrade
Etrade offers 8000 + mutual funds and out of that 1300 carry no transaction fees and the rest are for $19.99
Scottrade offers as much as 14000 mutual funds of which 3000 comes with 0 transaction fee while the rest are priced at $17 on both buy and sell categories. If you are buying it online you can it for free while selling will still cost you the same.
Trading options – Scottrade vs. Etrade
Scottrade websites are user-friendly, sophisticated and fairly simple with a java based system. While Etrade trading tools are easy to use and with accessible navigation thus both of them try to keep the trading option simple. It’s Etrade that seems to win over the hearts of online trader’s community as per the annual ratings through online app analysis. This is due to Etrade’s easy drag and drops home page option while easy to access and updated the browser options compared to Scottrade.
Customer support Scottrade vs. Etrade
The choice here is rather obvious. Although both Scottrade and Etrade have email and phone support with Scottrade having a popup chat feature or quick call feature. ETRADE has a whole section of frequently asked questions and a forum for most requested application while Scottrade assists the queries via Facebook and Twitter. Both the brokers have the one-on-one physical location; Etrade has up to 30 branches in while the focus remains in the branches in California and New York. Scottrade has more than 500 classic offices nationwide.
Scottrade vs. Etrade – Research
Access to the research for a beginner or even queries from an active trader is open towards reports and online trader community at Etrade while it has to chart tools as well. The research tools available at Etrade are videos, articles, in-person seminars etc. while when it comes to Scottrade you will find that there are no extensive third party reports unless of their own but there is a whole knowledge center with articles and videos.