Which brokerage firm is better E trade or Scottrade?

Question

for investment Fees and stuff

Answer 1

Btween the two, Scottrade is better. Better platform.

Answer 2

Etrade was very very close to going out of business a few months ago, and is still very close.

If you are planning on investing over $100,000, beware that the FDIC will not cover more than $100,000 and any extra money is at risk if Etrade cannot sell your account to another investment firm. (Even if they can sell it, the money may still be at risk)

I'm not exactly sure about the stability of a company like Scottrade, but you should be fine if you are planning on investing less than $100,000

Answer 3

There are so many variables it is hard to pick one. If I were sticking with US markets strictly I would likely choose Zecco. If I were looking for a broker with direct international access I would choose Noble trading for its 24hr service. Ameritrade is good for large block trading in the US and Canada.

Of the two you mentioned I would probably favor Etrade for its direct access to 6 international exchanges. Scottrade is too limited in their services.

Answer 4

Zecco was rated last by Barron's Best Broker list this year. Just about poor in everything.

E Trade & Scottrade are rated as below average, but much better than Zecco.

If you're looking for best service & platform;

ThinkOrSwim  (my favorite)

TradeStation (rated #1 by Barron's)

If you want best fees with great execution (poor service);

Interactive Brokers

I don't know what you mean by stuff. If you mean fundemental research & service geared to new investors;

Charles Schwab

Fidelity

TD Ameritrade

You need to be more specific for me to narrow this down for you.

[e-mail]

BTW: F.D.I.C. does not insure Brokers. There is protection with S.P.I.C. (I believe $500,000 in securities and $100,000 in cash).  Some brokers carry additional insurance.

Answer 5

I would hookup with either of them. The key question, for you, should be which has a physical location near your hometown.

Answer 6

Both firms enjoy very good, well earned reputations.

Both are very competitive with fees and "stuff"

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

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.

It's your choice, one is the same as the other

Answer 7

I have Scottrade account and there is only one thing that I absolutely hate.  And its how your "favorites" list are presented.  It only shows the company symbol and not the name of the company.  The problem with that is that if you have a long list of symbols and you dont remember what company it belongs to you'll have to look it up in another page or website then go back to Scottrade.

Answer 8

Within the universe of brokerage firms,  I think perhaps each has its pluses and minuses.  Scottrade surely is among the least expensive.  Their offerings are not so varied as E Trade.

Interactive Brokers has to be among the least expensive for relatively active traders and maybe are tops among offerings.  Don't however expect much in the way of research tools there.  They strickly are brokers.  If you are looking for stuff to invest or speculate in ,  Interactive Brokers might fit your bill.

If you want to do maybe 6 trades a year Scottrade might be what you are looking for.

If you are looking for independent research material Fidelity is loaded.  They are somewhat more expensive per transaction however.

TD Ameritrade is another you might consider.  Fees are slightly higher than Scottrade but not exhorbitant.

Answer 9

www.thinkorswim.com

Answer 10

I've been with Scottrade for years and have never had a problem.

Like them MUCH better than Schwaub.

Answer 11

Neither.  They both have Rule 606 disclosures on file, which means that they are paid by others to route your trades to someone else to clear, rather than to the stock exchange.  They claim that this payment is small and doesn't make a difference, but the big cost is the delay in getting your order to market, which is impossible to measure, but it probable doesn't help you.

Answer 12

I have had an account with E* Trade in the past and closed it out with no complaints.  Of the two I would choose E*Trade because they pay a better interest rate on money held.

Beyond your question, I see that TDAmeritrade has a special deal now that you can have free trades for 30 days of opening a new account and some cash if you deposit over a certain amount.

Answer 13

I know this isn't part of your question but www.zecco.com has 10 free trades a month if you have at least $2500 in your account.  I usually do 5 trades a month so if E-Trade is $6.95 a trade then I am saving $417 in the year.