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Intro optionsXpress has some good trading and trade tools that could benefit investors who are interested in options and more. Let's make a detailed comparison of these firms and see how optionsXpress performs against them. Mutual Funds and ETF's The optionsXpress mutual fund screener returns 1, results. The broker does not offer any NTF funds. Of trade, almost 1, come with no load and no transaction fee. TD Ameritrade customers have access to around 12, funds.
Nearly 2, have neither load nor transaction fee. Investors at Scottrade can buy and sell over 11, mutual funds, including 2, products that have no load and no transaction fee.
Traders who prefer ETF's cost been left out here. Scottrade does not trade any. All Schwab ETF's, around 20 products, are commission free at optionsXpress. Overall, TD Ameritrade wins the first category.
Research and Trading Tools The optionsXpress website has trade good research and charting tools. Idea Hub helps traders search through possible option plays. It can search for bullish, neutral, or bearish trading strategies. Option chains are also available. A Trade and Probability Calculator helps users evaluate strategies prior to placing a trade. Java-based streaming charts can be shown full screen and include several technical studies.
Unfortunately, there is no desktop program available. TD Ameritrade's website is well designed and contains a lot of helpful educational material. SnapTicket is an advanced trading bar at the bottom of the browsing window. TD Ameritrade provides two trading platforms free of charge.
One trade web-based, and the other is in desktop format. The more sophisticated of the two, thinkorswim, has the ability to search for options. Cost educational resources cover many investment topics, in video and article format.
A strategy optimizer searches for potential option trades based on criteria such as time frame and volatility. An cost screener searches for derivative contracts that meet various criteria, such as time value and open optionsxpress. The broker does provide an advanced desktop platform, but imposes account requirements.
Scottrade has a newly updated website that is easy to browse. A handy trade ticket appears at the bottom of the window or can be hidden to the left.
Several research and educational tools are on the Scottrade website, although options research is on the low side. An advanced trading platform is available for frequent traders. TD Ameritrade succeeds here. Mobile Apps All four brokers provides mobile apps free of charge, and all of them can be used to trade options. The broker also provides a platform for Apple Watch. CNBC streams live for frequent traders.
TD Ameritrade also has an app for Apple Watch. Alerts and chat rooms are available. A special thinkorswim app has very sophisticated charting. The Scottrade app now has mobile check deposit, but it's still the least developed platform of the four. There is no live streaming of financial news.
Charting is available with only a few technical studies. The OX app has some good research tools. Market news is available in article format, and stock indexes are also displayed. Charting with several technical indicators is available. A watchlist is also accessible. Unfortunately, optionsXpress provides no platform for Apple Watch, and the mobile app has no live streaming of business news.
TD Ameritrade wins again. Surprisingly, using a live broker over the phone to complete a trade costs cost extra. Live representatives are available over the phone to assist clients with trades. The winner in this category is Scottrade. TD Ameritrade is the winner. Despite optionsXpress's failure, it does have some good options research tools. Scottrade April Update Scottrade was acquired by TD Ameritrade optionsxpress year. TD Ameritrade plans to fully integrate Scottrade by September of this year.