Sharebuilder Vs. Scottrade
Sharebuilder and Scottrade are two popular online stock brokerage companies. The services and programs of the two companies are focused on different types of investors.
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Background
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Scottrade was one of the first discount online brokerages. The company's much advertised $7 stock commission is still the lowest available. Sharebuilder, a division of ING since 2007, allows customers to buy small amounts of stock or funds with low fees and monthly plans.
Considerations
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Sharebuilder is focused on new and small investors who want to start with small amounts of money to build a portfolio of stocks, ETFs or mutual funds. Scottrade is aimed at seasoned investors looking for low transaction costs and advanced trading tools.
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Sharebuilder
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Sharebuilder allows investors to set up regular, automatic investments in whichever stocks or funds they choose. A single investment costs $4 per purchase; a $12 per month plan allows up to six purchases per month; and the $20 per month plan permits a maximum of 20 purchases per month.
Scottrade
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Scottrade charges $7 for an online stock trade and $7 plus $1.25 per contract for online option trades. These are very competitive rates for online trading. Scottrade offers an advanced trading platform for investors with more than $25,000 in their accounts.
Features
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In addition to the low-cost automatic investment plans, Sharebuilder will execute regular stock trades for a $9.95 commission.
Scottrade offers the additional convenience of more than 430 local branches for investors who want to see a live broker.
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