E-TRADE VS. SCOTTRADE Which is better and why???

Question

SORRY about all caps i was unaware it was rude...

JD POWER RANKED SCOTTRADE AS #1

SMARTMONEY.COM RANKED E-TRADE #1

I'M READY TO START INVESTING SMALL AMOUNTS OF MONEY IN STOCKS USING AN ONLINE BROKER WHICH ONE DO MOST INVESTERS LIKE? OR IS THEIR SOMEWARE BETTER?

Answer 1

niether...if you only invest in small amts like i did when i started, you will lose your gains to thier fees!! Use an online brokerage firm that has good beginner qualitys {like tutorials or easy to understand set up}, i use zecco, better then schwab, etrade, etc. they are the only ones with free stock trades, no minumums..

http://friends.zecco.com/r/a7a2877caab81...

Answer 2

Both firm enjoy well earned reputations.

Both have bells and whistles, one may have a couple more bells while the other has a couple more whistles,

Customer need to select the site that is best for them.  Traders have requirements in a site, while investors have other requirements.  

If you are new to investing/trading Scottrade would be the better of the two firms since they have the strongest customer service area of the two and they've been catering to new type investors/traders more so than E-Trade.

Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade

Answer 3

E*Trade is not just a discount broker.  It's also an online bank with a large mortgage portfolio.   The bank and the brokerage are one company.  And if the bank gets into trouble.  Then you can find your brokerage trading account frozen.  And you might even loose some money if it's not FDIC insured.

Answer 4

Etrade and Scottrade are both reputable brokerage firms, but big name brokers tend to have more expensive commission rates.  I currently use Firstrade http://www.firstrade.com/.  Service is great and they have a cheap flat-rate of $6.95 per trade.  They're website is very easy-to-use and very friendly for beginners.  There are no maintenance or inactivity charges and definitely no hidden fees.  In addition, there are no minimum deposit requirements so you can start investing with as small of an amount of money as you want.

I would not recommend Zecco.  First of all, their 10 free trades per month requires a $2,500 deposit.  Plus, their website is very unfriendly and definitely not for beginners.