E*TRADE vs. Scottrade — What's the Difference?
By Tayyaba Rehman — Published on February 11, 2024
ETRADE and Scottrade are online brokerage platforms for trading stocks and securities. ETRADE is now part of Morgan Stanley, while Scottrade has been acquired by TD Ameritrade.
Difference Between E*TRADE and Scottrade
Table of Contents
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Key Differences
ETRADE, established in 1982, revolutionized online trading, providing a platform for individual investors. It offers a range of financial services, including stock trading, options, and banking. Known for user-friendly interfaces and tools, ETRADE became synonymous with accessible online investing. In 2020, Morgan Stanley completed its acquisition of E*TRADE, integrating its services into the larger financial institution.
Scottrade, founded in 1980, was a prominent discount brokerage firm offering online trading and investment services. Similar to E*TRADE, it provided a platform for individuals to manage their portfolios. In 2017, Scottrade was acquired by TD Ameritrade, leading to the transition of Scottrade accounts into the TD Ameritrade platform. This acquisition enhanced TD Ameritrade's position as one of the largest online brokerage firms.
Comparison Chart
Current Status
Part of Morgan Stanley since 2020
Acquired by TD Ameritrade in 2017
Platform Integration
Integrated into Morgan Stanley's services
Scottrade accounts transitioned to TD Ameritrade
Founding Year
Established in 1982
Founded in 1980
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Acquisition Year
Acquired by Morgan Stanley in 2020
Acquired by TD Ameritrade in 2017
Legacy Impact
Pioneered online trading
Contributed to TD Ameritrade's growth
Compare with Definitions
E*TRADE
Acquired by Morgan Stanley in 2020, expanding its financial service offerings.
Since joining Morgan Stanley, E*TRADE clients benefit from an extended range of wealth management options.
Scottrade
Known for providing online trading and investment services since its founding in 1980.
Scottrade's early adoption of online platforms made investing accessible to a broader audience.
E*TRADE
Part of the broader Morgan Stanley financial ecosystem.
E*TRADE clients now have access to Morgan Stanley's extensive resources and global financial expertise.
Scottrade
Acquired by TD Ameritrade, enhancing its market presence and service offerings.
The acquisition of Scottrade strengthened TD Ameritrade's position, offering clients a broader range of investment options.
E*TRADE
Offers services beyond stock trading, including options and banking.
E*TRADE's comprehensive financial services cater to various investment and banking needs.
Scottrade
Integrated into TD Ameritrade, creating a unified and comprehensive trading platform.
Scottrade's integration into TD Ameritrade ensures a seamless and consolidated experience for investors.
E*TRADE
A pioneer in online trading, offering a range of financial services.
E*TRADE's intuitive platform empowers investors to manage their portfolios seamlessly.
Scottrade
A renowned discount brokerage firm acquired by TD Ameritrade in 2017.
Scottrade clients seamlessly transitioned to TD Ameritrade's platform following the acquisition.
E*TRADE
Known for user-friendly interfaces and tools for individual investors.
E*TRADE's robust tools empower users to make informed decisions in the dynamic financial market.
Scottrade
Contributed to the growth of TD Ameritrade, one of the largest online brokerage firms.
Scottrade's legacy is evident in TD Ameritrade's position as a leading player in the financial industry.
Common Curiosities
How has E*TRADE changed since its acquisition by Morgan Stanley?
E*TRADE, now part of Morgan Stanley, provides an extended range of financial services, benefiting from the broader financial ecosystem.
How did Scottrade contribute to TD Ameritrade's growth?
Scottrade's acquisition strengthened TD Ameritrade's market position, increasing its client base and service offerings.
What happened to Scottrade after its acquisition by TD Ameritrade?
Scottrade accounts were transitioned into TD Ameritrade's platform, enhancing TD Ameritrade's market presence.
What was Scottrade known for in the financial industry?
Scottrade was renowned as a discount brokerage firm, offering online trading and investment services since 1980.
What legacy did Scottrade leave in the online brokerage industry?
Scottrade pioneered online trading, contributing to the accessibility and popularity of online investment platforms.
What distinguishes E*TRADE's platform for individual investors?
E*TRADE is known for its user-friendly interfaces and tools, empowering individual investors to manage their portfolios effectively.
What services does E*TRADE offer beyond stock trading?
E*TRADE provides a comprehensive range of financial services, including options trading and banking solutions.
How did Scottrade adapt to the rise of online trading platforms?
Scottrade played a pivotal role in making online trading accessible to a broader audience, adapting early to emerging technologies.
Is E*TRADE still an independent platform?
No, E*TRADE is part of Morgan Stanley, integrating its services into the larger financial institution.
How does E*TRADE contribute to Morgan Stanley's financial ecosystem?
E*TRADE is an integral part of Morgan Stanley, providing clients with a broader range of financial services within the Morgan Stanley ecosystem.
How has E*TRADE's acquisition impacted its clients?
E*TRADE clients now have access to Morgan Stanley's extensive resources and global financial expertise.
Are there any changes in E*TRADE's branding or services post-acquisition?
E*TRADE's branding and services have become integrated into Morgan Stanley, offering clients an enhanced suite of financial options.
What led to Scottrade's decision to be acquired by TD Ameritrade?
The acquisition by TD Ameritrade was a strategic move to consolidate strengths and enhance the overall market position.
What changes did Scottrade clients experience during the transition to TD Ameritrade?
Scottrade clients experienced a seamless transition as their accounts and services were integrated into TD Ameritrade's platform.
How do E*TRADE and Scottrade collectively influence the online brokerage landscape?
E*TRADE and Scottrade, through acquisitions and integrations, have contributed to shaping the landscape of online brokerage services, emphasizing accessibility and comprehensive financial solutions.
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Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
