Question: The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion the survey results follow (AAII web site, February 7, 2012). Brokerage Satisfaction with Trade Price Satisfaction with Speed of Execution Overall Satisfaction with Electronic Trades Scottrade, Inc. 3.4 3.4 3.5 Charles Schwab 3.2 3.3 3.4 Fidelity Brokerage Services 3.1 3.4 3.9 TD Ameritrade 2.9 3.6 3.7 E*Trade Financial 2.9 3.2 2.9 (Not listed) 2.5 3.2 2.7 Vanguard Brokerage Services 2.6 3.8 2.8 USAA Brokerage Services 2.4 3.8 3.6 Thinkorswim 2.6 2.6 2.6 Wells Fargo Investments 2.3 2.7 2.3 Interactive Brokers 3.7 4.0 4.0 Zecco.com 2.5 2.5 2.5 Firstrade Securities 3.0 3.0 4.0 Banc of America Investment Services 4.0 1.0 2.0
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Question: The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion the survey results follow (AAII web site, February 7, 2012).
Brokerage |
Satisfaction with Trade Price |
Satisfaction with Speed of Execution |
Overall Satisfaction with Electronic Trades |
Scottrade, Inc. | 3.4 | 3.4 | 3.5 |
Charles Schwab | 3.2 | 3.3 | 3.4 |
Fidelity Brokerage Services | 3.1 | 3.4 | 3.9 |
TD Ameritrade | 2.9 | 3.6 | 3.7 |
E*Trade Financial | 2.9 | 3.2 | 2.9 |
(Not listed) | 2.5 | 3.2 | 2.7 |
Vanguard Brokerage Services | 2.6 | 3.8 | 2.8 |
USAA Brokerage Services | 2.4 | 3.8 | 3.6 |
Thinkorswim | 2.6 | 2.6 | 2.6 |
Wells Fargo Investments | 2.3 | 2.7 | 2.3 |
Interactive Brokers | 3.7 | 4.0 | 4.0 |
Zecco.com | 2.5 | 2.5 | 2.5 |
Firstrade Securities | 3.0 | 3.0 | 4.0 |
Banc of America Investment Services | 4.0 | 1.0 | 2.0 |
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