|
|
Scottrade vs OptionsXpress
|
|
|
- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
- All OptionXpress fees
|
- Stocks and ETFs: $7
- Stocks and ETFs broker assisted: $27
- Stocks and ETFs interactive voice response (IVR) telephone system: $17
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ free mutual funds, $17 for others
- CDs, OTC Secondary Corporates, OTC Secondary Municipals, U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings: subject to a markup or markdown
- Listed Corporate Bonds: $35 fee plus $3 per bond (minimum investment $1,000)
- Unit Investment Trusts (UIT): $50 liquidation fee
- Foreign Stocks Transferring In or Out: $60 per transaction
- Investment products: stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
- Minimum to open Scottrade account: $500 for a cash account, $2,000 for a margin account
- All Scottrade fees
|
|
|
- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free paper trading
- No money down to open new account
- Free account transfers
- Free instructor lead online classes
- Free broker-assisted trading
- Free dividend reinvestment (contact customer service)
- No platform fees
|
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- One of the highest customer satisfaction ratings according to JD Power and Associates
- 500+ local branches
- Great support for beginner investors with massive amount of educational resources
- Online user community
- Banking services: savings, CDs, money market and checking accounts (visa check card and first order of checks is free)
- No ACAT fee
- Only $500 minimum to open account
- Free real-time streaming quotes and charts
- Free dividend reinvestment for mutual funds (but not for stocks)
|
|
|
- Higher than average commissions on stocks and ETFs
|
- Additional 0.5% of the principal value commission for stocks under $1
- No electronic withdrawals (but can use debit card or checks)
|
Scottrade vs OptionsXpress: Comparison Summary
Scottrade (Scottrade Review)
offers better commissions on stocks and ETFs than
OptionsXpress (OptionsXpress Review):
$7 versus $8.95 per trade. Scottrade, however, has a surcharge of 0.5% of the principal value on
penny stock (stocks under $1) trades. Both companies don't have additional charges on extended hours trading and large orders.
OptionsXpress and Scottrade provide excellent customer service, trading tools and research. OptionsXpress also offers free
virtual trading environment, which is great for beginners who need to improve their skills as well as for
more advanced investors who want to test new strategies without risking money. Beginner investors
could also improve their investing knowledge by taking advantage of free online instructor lead classes provided by the companies.
Scottrade and OptionsXpress don't have account maintenance fees and annual IRA fees. We rated the brokerages the
Best IRA Firms in 2012.
Both online brokers are excellent. We strongly recommend Scottrade to mutual fund investors, active traders and for IRA accounts.
OptionsXpress is a great choice for buy-and-hold and beginner investors.
|
|
|
|
|
|
|