We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. As long-term investors, The Motley Fool doesn’t put much weight on trading platforms. Given our buy-and-hold philosophy, we tend to think that any platform that allows us to make a trade here and there is good enough for our needs.

  • For this reason, investors who want to be able to explore more of the world’s exchanges may want to shop from the few brokers that offer international trading.
  • E-Trade’s asset allocation resources handily beat TradeKing just by virtue of having dedicated tools to help customers with that.
  • When you start trading, you quickly learn the importance of commission-free ETFs in building up an affordable, low-overhead profile, and the fact that TradeKing offers none is a shame.
  • But in a market where platform allegiance is determined by access to investment options, there’s a need to know just who’s on top.
  • With constant improvements, the gaps between them keep narrowing.

Stock trades on TradeKing have a base commission rate of $4.95 per trade. If you are in the business of buying and selling options, the TradeKing platform charges 65 cents per contract plus the base trade rate of $4.95. An option is an agreement to buy a security at a set price some time in the future. Research is another important component for traders, and both TradeKing and E-Trade provide high quality third-party research tools to aid traders in their investment careers. TradeKing offers free stock reports from S&P Capital IQ, among others, and provides a number of other research tools on TradeKing LIVE.

Small Investments That Make Money

Some online trading accounts require users to pay a fee to access this service, which can be a deterrent. However, both the TradeKing platform and the E-Trade platform make this easily available to users the same day they sign up. E-Trade is a reliable online broker offering comprehensive research tools, physical branches, and a diverse range of investment products. However, its higher fees and potentially more complex platform may be less attractive to [Type] investors seeking a simpler, lower-cost option.

  • He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
  • Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review.
  • Robinhood brands itself as the saviour for small investors, and this aspect emerges in the costs it charges.
  • NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances.

Not only are their commissions some of the lowest in the business, but beginner traders will find their numerous resources quite helpful in getting their investing careers started. They also require no minimum account balance, which makes them far more flexible than most other options. Neither TradeKing nor E-Trade charge account maintenance fees or IRA fees, nor do they have surcharges on orders over 1,000 shares. E-Trade offers no account inactivity fee, while TradeKing charges $50 for small balances that have had no trades in the last twelve months. E-Trade, meanwhile, offers $9.99 for stock and ETF trades, which is certainly much more expensive than TradeKing. However, E-Trade’s trade commission system is tiered, meaning that their price lowers the more actively you trade, and as you get a higher balance.

Better brokerage account: E*TRADE or Ally Invest?

While both TD Ameritrade and E-Trade have invested heavily in an attractive website and mobile app to support mobile trading, they are not equally accessible. A price comparison reveals that Ally Invest might be more affordable. First, both Ally Invest and E-Trade offer stock trades at $0 per trade with a $0 maintenance and inactivity fee.

Users also have the option of saving their work so that they can return to their charts at a later time. This website and its content are not intended to provide professional or financial advice. The views expressed here are based solely on the writer’s opinion, research, and personal experience, and should not be taken as factual information. The author is not a financial advisor and lacks relevant certifications in that regard.

Fees on IRA accounts

In the world of online brokerage companies, TD Ameritrade and E-Trade are giants whose expertise stems from a rich history of trading. Founded in 1975 and 1982, respectively, TD Ameritrade and E-Trade compete on almost all levels. To serious investors, they could be two sides of the same coin. Robinhood brands itself as the saviour for small investors, and this aspect emerges in the costs it charges.

Compare to Similar Brokers

Robinhood’s site is simple to use even for newbies, a feature that makes it super-efficient to find various asset classes. The smooth experience is true for both PC and mobile platforms. You don’t have to closely follow global finance charles schwab vs etrade to have heard about Robinhood. Earlier this year, Robinhood temporarily suspended users from trading GameStop stocks. They were incredibly successful—it was also a bit funny—and it levelled the playing field in a lot of ways.

Is E-Trade Really Free?

Anyone who’s ever had something as commonplace as a credit card is familiar with the yearly annoyance of annual fees. Fortunately, most discount online brokerage firms do not charge annual maintenance fees, and both TradeKing and E-Trade fall into that category. Users have complained about execution speeds and the layout of the platform, but these are considered par for the course for a discount online brokerage account. While TradeKing can be used for investors at varying levels, those executing a large volume of trades may find TradeKing’s platform to be a hindrance.

Etrade or Tradeking – which is better in 2023? Compare investing accounts, online trading

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. When it comes to the types of assets you can get from both TradeKing and E-Trade, each company has a different set of strengths you can work from. With TradeKing, it’s mutual funds — they offer over 8,500 mutual funds to their customers, as well as stocks options, fixed income and futures trades. Customers who use online brokerage firms want to gain a trading advantage.

NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.

Telephone representatives are available from 8am to 6pm ET, Monday through Friday. SmartMoney ranked TradeKing’s customer service as number one in 2008, 2010, 2011, and 2012. Its customer service has also received commendations by StockBrokers.com and Barron’s multiple times.