I have accounts with both Schwab and Scottrade. They both have features that I like. I use each brokerage differently to take advantage of these features.
Better research
Better calculation of gains up to the minute
Better serviceDividend reinvestment can be done on both stocks and mutual funds for free
Better planning tools like Retirement planning
Trades are $12.95 and up
Has Banking services like credit cards, checking accounts, loans, etc.
Better planning tools like Retirement planning
Trades are $12.95 and up
Has Banking services like credit cards, checking accounts, loans, etc.
Scottrade
Cheaper trades $7
Calculation of gains is a day late in their Gainskeeper application
Online market and stock data with minute by minute price and trading info
Scottrade has a graph on the front page that shows your overall account value.
So this is how I use these different brokerages. I buy stocks that I plan to trade more often with Scottrade. The trading is cheaper and I can monitor the stocks for quicker turn arounds with their live data feed. Scottrade also has this simple graph that shows the value of my account by day over the last week, month, 6 months, etc. I like this because it gives me instant feedback on how my decisions have played out over time. This is such a simple, basic thing but I can't find a comparable feature on Schwab. I buy dividend paying stocks at Schwab and reinvest the dividends. I also do all my retirement planning on Schwab to use their very useful tools. I do the majority of my research at Schwab since they have the most different suppliers of analysis including their own, S&P, Argus and others. I also tend to buy all my mutual funds from Schwab since they have a very wide selection of free, no-load funds.
Scottrade has a graph on the front page that shows your overall account value.
So this is how I use these different brokerages. I buy stocks that I plan to trade more often with Scottrade. The trading is cheaper and I can monitor the stocks for quicker turn arounds with their live data feed. Scottrade also has this simple graph that shows the value of my account by day over the last week, month, 6 months, etc. I like this because it gives me instant feedback on how my decisions have played out over time. This is such a simple, basic thing but I can't find a comparable feature on Schwab. I buy dividend paying stocks at Schwab and reinvest the dividends. I also do all my retirement planning on Schwab to use their very useful tools. I do the majority of my research at Schwab since they have the most different suppliers of analysis including their own, S&P, Argus and others. I also tend to buy all my mutual funds from Schwab since they have a very wide selection of free, no-load funds.
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