OptionsXpress vs E*TRADE

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This is a real battle of the giants, E*TRADE are one of the largest and best known discount brokerage houses and OptionsXpress are now owned by Charles Schwab the original discount brokerage firm.

But whilst they’re both similar sized brokers they target very different sections of the market. E*TRADE targets experienced investors with large accounts. OptionsXpress is a great all round broker and goes after intermediate traders looking to graduate from one of the smaller brokers.

So which one is the right broker for you? We’ve compared them both for customer service, trading platforms and of course price. Check out the tables below to find which broker is the perfect match for you and your trading style.

Products & Services
Broker	OptionsXpress	E*TRADE
Rating	[rating:5/5]	[rating:3/5]
website	Visit the OptionsXpress Website	Visit the E*TRADE Website
Our Review	Read Our OptionsXpress Review	Read Our Full E*TRADE Review
	Bank Deposits	Bank Deposits
	Bonds	Bonds
	Certificates of Deposits	Certificates of Deposits
	Day Trading	Day Trading
Services	Extended Hours Trading	Extended Hours Trading
	ETFs	ETFs
	IRAs	IRAs
	Mutual Funds	Mutual Funds
	Trading Community	Trading Community

Services Overview

When it comes to the number of services offered it’s difficult to beat E*TRADE, they offer everything from stocks to regular bank accounts. OptionsXpress on the other hand is more of a traditional broker and offers all the major investment products and services minus the bank accounts.

Both brokers are ideal if you’re looking to manage your IRA, as neither of them charges an annual IRA management fee.

When it comes to broker assisted trades E*TRADE are on the expensive side, so if you require the assistance of a broker to execute trades OptionsXpress is by far the better choice.

Trading Tools
	OptionsXpress	E*TRADE
	Automated Trading	Automated Trading
	Investor Resource Center	Investor Resource Center
	Mobile Trading	Mobile Trading
	Online Advisor	Online Advisor
Trading Tools	Profit & Loss Calculator	Profit & Loss Calculator
	Streaming Charts	Streaming Charts
	Stock & Fund Screeners	Stock & Fund Screeners
	Tables & Graphs	Tables & Graphs
	Training & Education	Training & Education
	Virtual Trading	Virtual Trading

Trading Tools Overview

Both brokers offer exceptional trading platforms, if you’re an intermediate trader and don’t require level 2 access then OptionsXpress have one of the best platforms available from any broker.

It has an endless list of tools to help you trade, no matter what your strategy is. They have excellent live news feeds and earnings reports built in for fundamental analysis and some of the best charting tools around for technical analysis. It all comes beautifully packaged in an easy to use interface which is a joy to use.

If you do require level 2 access E*TRADE offer frequent traders a more professional style platform than the standard one, it comes complete with level 2 data and a set of professional style tools free of charge.

Summary

To sum up then OptionsXpress are a world class broker, they have exceptional customer service, a world beating platform and some excellent training materials, perfect for intermediate traders. I would highly recommend them to both intermediate and advanced traders that don’t require level 2 data.

If you do require level 2 data then you have two choices, you can either join one of the direct access brokers out there like Lightspeed or you can join one of the few discount brokers that offer level 2 data as an option like E*TRADE.

If you’re a beginner then neither of these two brokers is really suitable. These two are firmly aimed at intermediate and advanced traders and some of their education and training materials are a little too advanced for beginners.

If you’re a beginner you’d be much better off using a broker like Zecco who specifically target their platform and training at rookies. You’ll also save a small fortune in fees as both these brokers are on the expensive side if you make small trades.

You may also like:

1. OptionsXpress vs SpeedTrader
2. OptionsHouse vs OptionsXpress
3. Zecco vs OptionsXpress
4. TradeKing vs OptionsXpress
5. OptionsXpress Review