Can you trade options on scottrade
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Banking services on offer include credit and debit cards , and access to a variety of other resources, such as small business tools, retirement planning, and college savings plans. Scottrade has a reputation for good banking services: savings accounts , CDs , money market and free checking accounts with free ATM withdrawals, Visa check card, and first order of checks free. There are no fees for full or partial account transfers. E-Trade offers fewer local branches than Scottrade, and since it is generally geared towards more experienced users, there less educational resources available for beginners although more resources are slowly becoming available.
Virtual trading, which allows users to practice without using real money, is NOT available with E-Trade. A live broker chat is available, and the online trader community is perhaps the best in the field. Scottrade has more than local branches throughout the country offering in-person customer service and help. The website also offers a large amount of educational material for new investors including virtual trading, and there is a large online community where investors can get additional advice.
Scottrade customers are routinely very satisfied with their experiences on the site. E-Trade users are overall very satisfied, perhaps a bit less so than Scottrade users, but the site generally receives better ratings from industry websites and users.
The downside is the higher fees and lack of virtual trading for beginners. Scottrade is consistently the most-used online broker. A study by J. Full quote and research results must be available for 4 of the 5 following tickers: Facebook, Apple, Amazon, Netflix, Google. Research - Mutual Funds Yes Offers mutual funds research. Research - Fixed Income Yes Offers fixed income research. Full quote and research results must be available for fixed income securities such as individual US Treasuries. Interactive chart optional. Must be via website or platform, mobile excluded as separate category.
Examples: domestic equities, foreign equities, bonds, cash, fixed income. Misc - Portfolio Builder No A tool that asks hypothetical risk tolerance questions then assists clients with building a diversified portfolio of ETFs based on their answers. Stock Research - Earnings Yes View analysis of past earnings. Examples: Consensus vs actual data, EPS growth, sales growth. Stock Research - Insiders Yes View a list of recent insider transactions. Stock Research - Social No View social sentiment analysis, eg twitter analysis NOT just a stream of recent tweets , for individual equities.
Examples: Morningstar, Lippers. Mutual Funds - Fees Breakdown Yes A clear breakdown of the fund's fees beyond just the expense ratio. Screener - Stocks Yes Offers a equities screener.
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Screener - Mutual Funds Yes Offers a mutual fund screener. Screener - Options No Offers a options screener. Commonly referred to as a spread creation tool or similar. Screener - Bonds Yes Offers a bond screener. Education Feature Value Definition Education Stocks Yes Provides a minimum of 10 educational pieces articles, videos, archived webinars, or similar with the primary subject being stocks. All content must be easily found within the website's Learning Center.
Education Options Yes Provides a minimum of 10 educational pieces articles, videos, archived webinars, or similar with the primary subject being options. Education Mutual Funds Yes Provides a minimum of 10 educational pieces articles, videos, archived webinars, or similar with the primary subject being mutual funds. Education Fixed Income Yes Provides a minimum of 10 educational pieces articles, videos, archived webinars, or similar with the primary subject being fixed income.
Learn how to trade options with TD Ameritrade options trading educational resources. View articles, videos and available options webinars so you can discover. Use your existing Scottrade account number and password to login for the first time. How to access your Everything you get, from award-winning trading tools, to guidance and retirement resources to industry-leading service, is built around A $ per contract fee applies for options trades on all online equity trades.
Education Retirement Yes Provides a minimum of 10 educational pieces articles, videos, archived webinars, or similar with the primary subject being retirement. Investor Dictionary Yes An online dictionary of at least 50 investing terms. Webinars Monthly Avg 20 Total educational client webinars hosted, on average, each month. Webinars Archived Yes Provides an archived area to search and watch previously recorded client webinars.
Live Seminars Yes Provides at least 10 live, face-to-face educational seminars for clients each year. Must be delivered by a broker staff member. Videos No Are educational videos available? At least A video is a short clip, typically several minutes in duration, that explains a trading concept, term, or strategy. Archived webinars and platform demos do NOT count. Retirement Calculator Yes Offers a retirement calculator. Interactive Learning - Quizzes Yes Quizzes offered within the education center. Must include multiple questions and score results. Example service provider - Morningstar, InvestingTeacher.
Account login most common integration. Quotes Real-time Yes Mobile app offers real-time quote data. Quotes Streaming Yes Mobile app offers streaming or auto refreshing real-time stock quote results. More specifically, the quote screen must auto-refresh at least once every three seconds. Watch List Real-time Yes Watch list in mobile app uses real-time quotes.
Watch List Streaming Yes Watch list in mobile app uses streaming real-time quotes. More specifically, the watch-list must auto-refresh at least once every three seconds. Watch List Syncing Yes Watch list in mobile app syncs with client's online account.
E*TRADE Financial | Investing, Trading & Retirement
Updates made in the mobile app migrate to the online account and vice versa. Must be customizable filters, not just predefined searches.
TD Ameritrade recently completed an acquisition of Scottrade, which will provide options traders with another level of flexibility as well. New and Scottrade referral code: IXFV will get you 3 free trades when you open any type of account at Scottrade. The company doesn't disclose its price improvement statistics either. Functionality is also widespread; however, across the board, ELITE trails the competition due to a lack of depth. Scottrade screener results visualization. In , Scottrade spent significant time cleaning up the overall design and launched three different color schemes: classic dark, light, and monochrome.
Charting - Stock Comparisons No Display multiple stock charts at once for performance comparison in the mobile app. Charting - Drawing No Can markup stock charts using the mobile app. Examples include: trendlines, arrows, notes. Charting - After Hours No Stock charts in mobile app display after hours trade activity. Stock Alerts Yes Set basic stocks alerts in the mobile app.
Examples: price alerts, volume alerts. Stock Alerts Delivery - Push Notifications Yes Optional smartphone push notifications for stock alerts in the mobile app. Trading - Stocks Yes Stocks trades supported in the mobile app. Trading - After-Hours Yes After-hours trading supported in the mobile app. Trading - Mutual Funds No Mutual fund trades supported in the mobile app. Trading - Simple Options Yes Single-leg option trades supported in the mobile app. Trading - Complex Options No Multi-legged option trades supported in the mobile app. Trading - Option Rolling No Ability to pre-populate a trade ticket and seamlessly roll an option position to the next relative expiration in the mobile app.
With its user-friendly interface, traders can do real-time stock performance tracking, risk monitoring and trade analysis, and more. Both companies feature decently good research tools, whether through their website or their trading platforms.
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TD Ameritrade offers many of the same third-party market research reports, but boosts their education offerings with Investools — a program that offers customers complete trader education courses at a number of skill levels. With these courses, traders can learn the ins and outs of stock, options, forex and so on, improving their understanding of the world of trading. Customers who want some additional help with their trading can count on both TD Ameritrade and Scottrade to provide adequate-to-good customer service.
Unlike most other online brokers you run into, TD Ameritrade and Scottrade both have physical, brick-and-mortar locations; this provides an excellent, unexpected resource for their customers. In terms of features, TD Ameritrade just barely moves ahead of Scottrade. TD Ameritrade charges nothing. However, one thing to consider is that TD Ameritrade also allows traders to invest in futures or forex, which Scottrade lacks.
It must be noted, however, that Scottrade does not provide commission-free ETFs TD Ameritrade provides more than , so you might want to look elsewhere if that is the primary means by which you want to trade. In this category, TD Ameritrade wins out, simply because they have a wider range of investment options to choose from. Furthermore, the presence of commission-free ETFs simply opens up more possibilities for traders than Scottrade can truly offer.