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ETrade or TD Ameritrade

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Views: 1775
Posts: 12
 
Legend
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Joined: Oct, 2002
Posts: 54531
Posted: #1

Gonna open an account soon. Thoughts on either? Pros/cons?

 

Also, anybody have a scottrade account?

 

Thanks guys.

 
Prospect
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Joined: Dec, 2011
Posts: 174
Posted: #2
Quote Originally Posted by TRAIN69:

Gonna open an account soon. Thoughts on either? Pros/cons?

 

Also, anybody have a scottrade account?

 

Thanks guys.



I use Scottrade. I'm personally not a huge fan but it's all I've ever used and I'm too lazy to switch over. I hear thinkorswim is really good. I use equityfeed for my scanner. I have a link for 10% off, let me know and I can send it to you if you're interested. They're live news streaming is a little faster than Scottrade. One trade per month pays for my subscription.
 
Veteran
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Joined: May, 2014
Posts: 1564
Posted: #3
I have accounts at both Etrade and TD Ameritrade and TD is better imo. Their smart trading platform is much better than Etrade's. My orders get routed and fulfilled faster on TD's platform. 

If you happen to start getting into options, TD's platform is much better. I only trade options nowadays and Etrade has very strict rules on options, TD is much more laxed. 

GL
 
Hall of Fame
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Joined: Dec, 2010
Posts: 24297
Posted: #4
Any of them are fine if you are just starting---Been on Etrade since years and does fine.
 
Rookie
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Joined: Oct, 2009
Posts: 922
Posted: #5
Quote Originally Posted by CountCrisco:

I have accounts at both Etrade and TD Ameritrade and TD is better imo. Their smart trading platform is much better than Etrade's. My orders get routed and fulfilled faster on TD's platform. 

If you happen to start getting into options, TD's platform is much better. I only trade options nowadays and Etrade has very strict rules on options, TD is much more laxed. 

GL

What kind of strict rules do they have on options?

 

 
Veteran
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Joined: May, 2014
Posts: 1564
Posted: #6
Quote Originally Posted by Fire_Control:

What kind of strict rules do they have on options?

 


They make you go through hoops and whistles to start an options account. First you have to fill out this form and they ask you a bunch of bullshitt questions about trading experience. Then , you have to be "approved" for an options account. After that, you wont get a full options trading account, you can only buy options but not sell or write. 

Bunch of bullshitt with Etrade
 
Veteran
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Joined: Jul, 2002
Posts: 2947
Posted: #7
Quote Originally Posted by CountCrisco:


They make you go through hoops and whistles to start an options account. First you have to fill out this form and they ask you a bunch of bullshitt questions about trading experience. Then , you have to be "approved" for an options account. After that, you wont get a full options trading account, you can only buy options but not sell or write. 

Bunch of bullshitt with Etrade

It's been quite a while since I've opened up at TD account, but if I recall, you have to go through the same questions/approvals for an options account as Etrade
 
Rookie
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Joined: Oct, 2009
Posts: 922
Posted: #8
Quote Originally Posted by CountCrisco:


They make you go through hoops and whistles to start an options account. First you have to fill out this form and they ask you a bunch of bullshitt questions about trading experience. Then , you have to be "approved" for an options account. After that, you wont get a full options trading account, you can only buy options but not sell or write. 

Bunch of bullshitt with Etrade

That sounds awful. BMO didn't hassle me at all. The only  problem I had was the commission. I called and complained about the commission of stocks and options and the price dropped. Didn't check to see if I can write options though.

 
Prospect
Participation Meter
Joined: Nov, 2013
Posts: 411
Posted: #9
Quote Originally Posted by CountCrisco:

I have accounts at both Etrade and TD Ameritrade and TD is better imo. Their smart trading platform is much better than Etrade's. My orders get routed and fulfilled faster on TD's platform. 

If you happen to start getting into options, TD's platform is much better. I only trade options nowadays and Etrade has very strict rules on options, TD is much more laxed. 

GL


Agree with this. I have scottrade, as well. But, enjoy TD's platform and make most of my trades on TD.
 
Veteran
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Joined: Sep, 2009
Posts: 2090
Posted: #10
TD is the way to go
 
Captain
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Joined: Jan, 2010
Posts: 7574
Posted: #11
BOL


T
 
 
Captain
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Joined: Dec, 2004
Posts: 5484
Posted: #12

I have accounts with both sites. The interface on Ameritrade is far superior. The E-trade main page doesn't even have live quotes, there is significant delay.

The Ameritrade main page has live quotes and a free advanced trading platform software. I don't trade enough to use the platform, but it's suppose to be pretty sophisticated.

They've treated me pretty well too. When I consolidated assets into my Ameritrade account, Etrade charged me a $60 transfer fee. Ameritrade covered it as courtesy.

The $1 difference in trade price is pretty negligible. Transfers are quick. I always get my money on withdrawals within 1 day. Deposits are always credited within 1 day as well.

Each site will have bonus perks. I think Ameritrade offered me 10 free trades in 3 months. Didn't use them all. E-trade probably gave me 50 bucks or something.

 

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