TD Ameritrade vs Scottrade
|
TD Ameritrade versus Scottrade: Commissions, Fees and Investments Offered
- $9.99 per stock/etf trade
- Options: $9.99 plus $0.75 per contract
- No-load mutual funds: $49.99
- Treasuries at auction: $25 flat fee
- Futures: $3.50 per contract (inclusive of exchange fees)
- $7 per stock/etf trade
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ free, $17 for all other mutual funds
- 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 + $3 per Bond (minimum investment $1,000)
- Unit Investment Trusts (UIT): $50 liquidation fee
- Foreign Stocks Transferring In or Out: $60 per transaction
|
TD Ameritrade vs Scottrade: Advantages
- Online user community
- Free streaming quotes
- Local branches
- Free automatic reinvestment of dividends
- Fee-free retirement accounts
- Flat-rate commissions, no hidden fees
- Virtual trading
- Truly excellent customer service
- 500+ local branches
- Free real-time streaming quotes and charts
- Online community
- Perfect broker for beginner investors
- Great Trade Ideas tool
- No IRA fees (setup, annual, termination)
- Just $500 to open account
|
TD Ameritrade vs Scottrade: Disadvantages
- Expensive commissions on all asset classes
- Website freezes on high volume
- Customer service is not very responsive
- Surcharge of ½% of the principal value on penny stock trades
- Website could be improved
- Scottrade Elite is only available to 25K and larger accounts
- Cannot short sell stocks under $5
|
TD Ameritrade and Scottrade Websites and Ratings
|