Scotia iTrade vs Loyal3

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

Scotia iTrade is a Business & Commerce solution with tags like stock-trading, scotiabank, investing, trading.

It boasts features such as 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 pros including 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.

On the other hand, Loyal3 is a Business & Commerce product tagged with investing, stocks, commissionfree, ipo.

Its standout features include Commission-free stock trading, Access to IPOs typically reserved for institutions, Fractional share purchases, Low minimum investment amounts, Mobile app, and it shines with pros like Democratizes access to IPOs, No trading commissions, Can invest small amounts, Easy to use mobile app.

To help you make an informed decision, we've compiled a comprehensive comparison of these two products, delving into their features, pros, cons, pricing, and more. Get ready to explore the nuances that set them apart and determine which one is the perfect fit for your requirements.

Scotia iTrade

Scotia iTrade

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.

Categories:
stock-trading scotiabank investing trading

Scotia iTrade Features

  1. Online stock trading platform
  2. Trade stocks, ETFs, options, mutual funds, and fixed income products
  3. $6.99 equity trades
  4. Research tools
  5. Customized watchlists
  6. Retirement planning
  7. Mobile apps

Pricing

  • Subscription-Based

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


Loyal3

Loyal3

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.

Categories:
investing stocks commissionfree ipo

Loyal3 Features

  1. Commission-free stock trading
  2. Access to IPOs typically reserved for institutions
  3. Fractional share purchases
  4. Low minimum investment amounts
  5. Mobile app

Pricing

  • Free

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