Loyal3 vs Scotia iTrade

Struggling to choose between Loyal3 and Scotia iTrade? Both products offer unique advantages, making it a tough decision.

Loyal3 is a Business & Commerce solution with tags like investing, stocks, commissionfree, ipo.

It boasts features such as Commission-free stock trading, Access to IPOs typically reserved for institutions, Fractional share purchases, Low minimum investment amounts, Mobile app and pros including Democratizes access to IPOs, No trading commissions, Can invest small amounts, Easy to use mobile app.

On the other hand, Scotia iTrade is a Business & Commerce product tagged with stock-trading, scotiabank, investing, trading.

Its standout features include Online stock trading platform, Trade stocks, ETFs, options, mutual funds, and fixed income products, $6.99 equity trades, Research tools, Customized watchlists, Retirement planning, Mobile apps, and it shines with pros like Owned by a major Canadian bank, providing trustworthiness and stability, Offers a wide range of investment products, Competitive trading fees, Provides research and analysis tools, Customizable features for personalized trading experience.

Feature	Loyal3	Scotia iTrade
Overall Score	N/A	N/A
Primary Category	Business & Commerce	Business & Commerce

Product Overview

Loyal3

Description: Loyal3 is an online brokerage platform that allows individuals to invest in IPOs and stocks commission-free. It aims to democratize IPO investing by giving ordinary investors access to big IPOs typically reserved for institutions.

Scotia iTrade

Description: Scotia iTrade is an online stock trading platform owned by Scotiabank. It allows customers to trade stocks, ETFs, options, mutual funds, and fixed income products. Scotia iTrade offers $6.99 equity trades, research tools, customized watchlists, retirement planning, and mobile apps.

Key Features Comparison

Loyal3 Features

• Commission-free stock trading
• Access to IPOs typically reserved for institutions
• Fractional share purchases
• Low minimum investment amounts
• Mobile app

Scotia iTrade Features

• Online stock trading platform
• Trade stocks, ETFs, options, mutual funds, and fixed income products
• $6.99 equity trades
• Research tools
• Customized watchlists
• Retirement planning
• Mobile apps

Pros & Cons Analysis

Loyal3

Pros

• Democratizes access to IPOs
• No trading commissions
• Can invest small amounts
• Easy to use mobile app

Cons

• Limited selection of stocks and ETFs
• No advanced trading options like limit orders
• No retirement accounts offered

Scotia iTrade

Pros

• Owned by a major Canadian bank, providing trustworthiness and stability
• Offers a wide range of investment products
• Competitive trading fees
• Provides research and analysis tools
• Customizable features for personalized trading experience

Cons

• Limited international trading options
• Higher fees compared to some discount brokers
• May have a steeper learning curve for beginner investors

Pricing Comparison

Loyal3

• Free

Scotia iTrade

• Subscription-Based