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.

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

Product Overview

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.

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.

Key Features Comparison

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

Loyal3 Features

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

Pros & Cons Analysis

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

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

Pricing Comparison

Scotia iTrade

• Subscription-Based

Loyal3

• Free