4-star brokerage firm rating

TDAmeritrade review

TD Ameritrade vs Scottrade

Scottrade vs TD Ameritrade in 2015: Account Pricing, Commissions, Fees


TD Ameritrade

  • Stocks and ETFs: $7
  • Stocks and ETFs broker assisted: $32
  • Stocks and ETFs interactive voice response (IVR) telephone system: $32
  • Options: $7 + $1.25 per contract
  • Mutual funds: $17
  • 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 + $3 per bond (minimum investment $1,000)
  • Unit Investment Trusts (UIT): $50 liquidation fee
  • Foreign Stocks Transferring In or Out: $60
  • Investment products: stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
  • Scottrade minimum deposit to open account: $2,500 ($0 for IRA accounts)
  • All Scottrade fees
  • Scottrade login, Scottrade promotions

  • Stocks and ETFs: $9.99
  • Stocks and ETFs broker assisted: $49.99
  • Stocks and ETFs interactive voice response (IVR) telephone system: $34.99
  • Options: $9.99 + $0.75 per contract
  • No-load mutual funds: $49.99
  • Treasuries at auction: $25
  • All other bonds and CMOs, CDs: on a net yield basis
  • Futures: $2.25 per contract (plus exchange & regulatory fees)
  • Forex: Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.
  • Investment products: stocks, mutual funds, options, ETFs, bonds, CDs, UITs, futures, and forex
  • TD Ameritrade\TDA minimum deposit to open account: $0 for cash account, $2,000 for margin account
  • All TD Ameritrade fees
  • TD Ameritrade login, TD Ameritrade promotions and TD Ameritrade referral

Scottrade vs TD Ameritrade: Pros


TD Ameritrade

  • No inactivity, account maintenance or hidden fees
  • No-fee IRAs
  • 500+ local branches for in-person assistance
  • Great support for beginner investors with a massive number of educational resources
  • Good banking services: savings, CDs, money market and free checking accounts (free ATM withdrawals, VISA check card, and free first order of checks)
  • Free real-time streaming quotes
  • Flexible and free dividend reinvestment programs (DRIPs)
  • Large number of mutual funds available - over 14,500
  • Instant funds deposits

  • No surcharges on penny stocks, large orders, or after-hours trading
  • Large and well-known company with 126 local branches
  • Two excellent trading platforms: Thinkorswim and Trade Architect
  • Users can practice trading without risking real money using PaperMoney virtual trading
  • Easy access to myTRADE trader community
  • No account maintenance or inactivity fees
  • Free streaming quotes, including Level II
  • Rich selection of independent, third-party research from 12 firms (Standard & Poor's, Morningstar, Jaywalk, TheStreet, etc.)
  • 100+ ETFs with no commissions
  • Large number of mutual funds - over 13,000 available; 2,500 NTF (no-transaction fee) funds
  • Free DRIP (dividend reinvestment plan)
  • No-fee IRA accounts

Scottrade vs TD Ameritrade: Cons


TD Ameritrade

  • Outdated, cluttered website design
  • Additional 0.5% of the principal value commission for stocks under $1
  • No electronic withdrawals, but clients can use a debit card, checks, or ACH transfer from their bank
  • $25,000 account balance, or 9+ stock/option trades during the previous three months is required to use advanced trading platform (ScottradeELITE)
  • High $2,500 minimum to open regular brokerage account (but $0 for IRA)

  • At $9.99 for stocks and ETFs and $49 for mutual funds, commission rates are very high
  • High margin rates

TD Ameritrade vs Scottrade: Comparison Summary

Scottrade (Scottrade Review) and TD Ameritrade (TD Ameritrade Review) are two of the most recognizable and largest brokerage houses in the nation. Scottrade is definitely much better priced: $7 for stock/ETF trades and $17 for mutual fund transactions versus TD Ameritrade's $9.99 for stock/ETF trades and $49 for mutual fund transactions.

Both companies offer fee-free IRA accounts - they don't even impose IRA termination fees which almost all other online brokers charge! TD Ameritrade and Scottrade also don't have surcharges on large orders and extended hours trading as well as account inactivity, maintenance and hidden fees. Scottrade, however, charges additional 0.5% of the principal value commission for stocks priced under $1 (penny stocks).

TD Ameritrade offers some of the best trading platforms in the industry - Thinkorswim and Trade Architect - that have all the bells and whistles one would expect from the professional trading software. The firm also provides free virtual trading, and the best selection of independent, third-party investment research from 12 firms. Both companies offer free streaming quotes, and TD Ameritrade provides access to helpful online trader community.

We rated Scottrade one of the Top Brokerage Firms in 2015. We recommend TD Ameritrade to active traders (for them company's expensive commissions are negotiable), futures and forex traders. Scottrade is recommended for an IRA account as well as for mutual funds, beginner, "buy-and-hold", and long-term investors.

You could also open accounts with both firms with no money down and no obligation in about 20 minutes, and take advantage of everything these top brokers have to offer at no charge.

Scottrade Promotion - up to $2000

TD Ameritrade Promotion - 60 days free
trading + up to $600:

TDAmeritrade review

Updated on 8/5/2015.

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Review discount online brokerage firms comparison: Scottrade or TD Ameritrade? Differences between investment companies. Recommendation for stocks, options, ETFs, mutual funds, bonds investors. TD Ameritrade versus Scottrade for beginner investors, long term, individual retirement accounts, active/day traders. See what stock broker service is better, cheaper, offers lower fees, cost, rated higher and easier to use. Which broker should you choose?

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