Unlocking Your Options: The Best Scottrade Alternatives for Savvy Investors
Scottrade has long been a popular choice for online trading and investing, offering $7 online trades, no maintenance fees, and no inactivity fees. With robust trading tools and market research, it’s a solid platform. However, the financial landscape is constantly evolving, and investors often seek different features, lower costs, or more specialized tools. Whether you're looking for commission-free trading, social investing, or advanced analytical capabilities, exploring a Scottrade alternative can open up new possibilities for your portfolio.
Top Scottrade Alternatives
If you're ready to broaden your horizons beyond Scottrade, a wealth of excellent alternatives awaits. From platforms designed for beginner investors to those catering to seasoned traders, there's a solution to fit every investing style and budget. Let's dive into some of the leading contenders that offer compelling reasons to consider a switch.
Robinhood
Robinhood stands out as a strong Scottrade alternative due to its revolutionary zero-dollar ($0) commissions for self-directed individual cash or margin accounts. Available on Free, Web, Android, and iPhone platforms, it's ideal for those prioritizing cost savings. Robinhood offers features like Investment, Options trading, Portfolio management, and general Trading.
Matador - Stock Trading with Friends
Matador for iPhone and iPad offers a unique social investing experience, allowing you to make and share investments, get inspired by other traders, and learn about the stock market. While it doesn't list specific advanced features, its focus on community makes it a distinct Scottrade alternative for those who enjoy collaborative investing. It's available for Free on iPhone and iPad.
Capital One Investing
Capital One Investing (formerly ShareBuilder) offers low commissions for buying stocks, mutual funds, and ETFs, making it a competitive Scottrade alternative. It provides great tools to help you pick investments or build a model portfolio. This Commercial platform is accessible via Web, Android, and iPhone, with a core feature being Investment.
StockNerd
StockNerd is a Free stock and portfolio tracking app designed for long-term buy-and-hold investors. It's an excellent Scottrade alternative for those seeking a straightforward tracking tool, available on iPhone and iPad. Its features include tracking stocks, tickers, ETFs, Investment, Portfolio management, and Trading.
OptionsHouse
OptionsHouse provides stock and options traders with a competitive edge, featuring low rates and a top-rated platform. As a Freemium service available on Web, Android, and iPhone, it's a solid Scottrade alternative for those focused on options trading and seeking value. No specific features are listed beyond its core trading functionality.
E*TRADE
E*TRADE is renowned for its powerful mobile trading applications, making it an easy-to-use and formidable Scottrade alternative. Available for Free on Web, Android, iPhone, Android Tablet, iPad, and Apple Watch, it provides extensive core trading capabilities. No specific features are listed as its core strength is its comprehensive trading platform itself.
TradeKing
TradeKing is a highly-ranked online broker known for its site usability and providing tools and research for online trading of stocks, options, bonds, and more. As a Commercial platform available on the Web, it offers strong Investment features and serves as a robust Scottrade alternative for serious traders.
Freetrade
Freetrade offers commission-free stock buying for basic investing and accounts, positioning itself as an excellent Freemium Scottrade alternative focused on cost-effectiveness. Available on Web, Android, and iPhone, it includes features such as Investment, Portfolio management, Trading, and a full Trading platform.
TradeStation
TradeStation provides award-winning tools and brokerage services for trading stocks, ETFs, options, and futures. This Commercial, Web-based platform is a powerful Scottrade alternative for advanced traders seeking confidence and sophisticated tools for their goals. No specific features are listed, as its strength lies in its comprehensive professional-grade platform.
Choosing the right investment platform is a personal decision based on your trading style, budget, and desired features. Each Scottrade alternative presented here offers unique advantages, from commission-free trading to social investing and advanced analytical tools. Take the time to explore each option, comparing their fee structures, available assets, and user interfaces to find the perfect fit for your financial journey.