TD Ameritrade 300

ETRADE vs Scottrade

Scottrade or Etrade - which is better in 2022? Compare IRA/Roth accounts, online investing fees, stock broker mutual fund rates, and differences.

Scottrade is now TD Ameritrade

Scottrade has been assimilated into TD Ameritrade. See TD Ameritrade Review article instead.


Scottrade/TD Ameritrade: Get $0 commissions and ACAT fee reimbursement.

E*trade: At E*TRADE, get $0 trades + 65₵ per options contract.

Overview - Scottrade vs Etrade

Broker Fees Stock/ETF
Mutual Fund
Annual IRA
TD Ameritrade $0 $49.99 ($0 to sell) $0 $0
Etrade $0 $19.95 $0 + $0.65 per contract $0 $0

Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade

Scottrade and Etrade are two of America's better known low-cost brokerage firms who advertise heavily and offer investors numerous financial products and services. So which is better - Etrade or Scottrade? Let's find out.

Compare Fees and Account Minimums

Scottrade’s standard charge for trading stocks and ETF’s is $0, and Etrade now charges the same rate. Etrade has a discount of $2 per trade for investors who place more than 150 trades per quarter. Investors who trade options will pay an extra $0.70 per contract at Scottrade, and $0.65 at Etrade.

Brokerage accounts at both Scottrade and Etrade carry no inactivity fees or account maintenance fees. The minimum initial deposit to open a brokerage account at Scottrade is $2,500, and at Etrade it's $500 ($0 for IRA).

Overall, brokers are tied in this category.

Mutual Funds

Etrade offers more than 8,000 mutual funds, of which 1,300 carry no-load and no transaction fee. Mutual funds that carry a transaction fee are $19.99.

Scottrade offers more than 14,000 mutual funds, almost 3,000 of which come with no load and no transaction fee. No-load mutual funds that do carry a transaction fee are $17 on both the sell and buy ends, when traded on-line. Load funds are free to buy, but cost $17 to sell.

Scottrade clearly wins in the mutual fund arena.

Scottrade vs ETRADE

Research and Education

Etrade has a variety of educational resources for its customers, consisting of on-demand videos, articles, and in-person seminars at select cities. An assortment of topics are covered, such as fixed-income, options, and IRA’s. Etrade also offers futures research, including a dedicated futures customer service phone line.

Scottrade vs ETRADE

Scottrade falls short in this category. Research tools are on the moderate side. There are no third-party reports available. Scottrade offers investment education on a web page called Knowledge Center, where traders will find articles and videos on a variety of topics.

Etrade wins in this category.

Customer Service

Scottrade is famous for having numerous brick-and-mortar branches across the United States to help their customers personally. The broker currently has more than 500 branches nationwide. Scottrade's customer service is rated as one of the best in the industry. Etrade has just 30 branches. However, Etrade offers 24/7 telephone customer service, whereas Scottrade is only available 5:00 AM to midnight (CST), Monday through Friday, and 8:00 AM to 6:00 PM on the weekend.

Overall, Scottrade has an edge over Etrade in this category.

Trading Tools

Scottrade’s web site is fairly simple and not very sophisticated. A step up from the web site is Scottrader Streaming Quotes, a Java-based system launched from the web site. For active traders, there is ScottradeELITE, the broker's flagship trading platform.

ETRADE versus Scottrade

Etrade's web site is more sophisticated and user friendly. The broker's Total Trade Ticket can be used to place orders for stocks, options, and ETF’s. Advanced platforms are available for frequent traders. Etrade Pro is a desktop application, and Etrade Marketrader is a browser platform.

ETRADE or Scottrade

This category goes to Etrade, primarily for their well-designed web site.

Mobile Trading

Etrade has applications for Windows phone, iPhone, iPad, Android phone and tablet, Amazon Fire phone, and Kindle Fire HD. The iPhone app has the most features. The interface is easy to navigate. Users will find charts, a trade ticket, mobile check deposit, educational videos, and many other useful features.

Scottrade has applications for Android, iPhone, iPad, and mobile web. The interface is intuitive and user friendly. Users can read market news, place an order, search for options, and look over position and account data.

Etrade and Scottrade are tied in this category.

Cash Management Features

Both brokers have FDIC-insured banks that offer deposit accounts with the standard insurance of $250,000. Both firms offer free checks and a debit card. In order to open a Scottrade bank account, clients must have at least $500 in a Scottrade brokerage account.

Scottrade does not allow its customers to transfer funds out of a Scottrade brokerage account to an external bank account via ACH (however, ACH originated from a bank is allowed), although Etrade does.

Etrade has a slight edge in this category.

Additional Features

Etrade offers futures trading and research, including the ability to trade more than 200 futures products. The futures trading platform has no fee, and there is a dedicated futures customer support team.

Scottrade does not offer any services on futures (not that many investors trade futures), however it has a unique and better than the competitor's version of dividend reinvestment program that so much more people will find useful.

Scottrade gets this category.


Scottrade/TD Ameritrade: Get $0 commissions and ACAT fee reimbursement.

E*trade: At E*TRADE, get $0 trades + 65₵ per options contract.


As you see Scottrade and Etrade are pretty evenly matched in this online broker comparison. Both firms provide their customers with intuitive trading tools. Scottrade also offers over 500 local branches where clients can visit and talk with a representative face-to-face.

Thanks to easy to use trading tools, proactive and helpful customer service, largest network of local offices as well as plethora of learning materials, Scottrade is one of the best brokerages for beginner investors.

Overall, both Scottrade and Etrade are excellent and will definitely be a good fit for a majority of investors. Based on lower commissions on mutual funds, we recommend Scottrade to most customers, especially to beginners, retirement and mutual funds investors.


Scottrade was acquired by TD Ameritrade last year. TD Ameritrade plans to fully integrate Scottrade by September of this year. For this reason it makes more sense to open an account with TD Ameritrade directly and skip possible transition inconveniences.