We recently presented a direct readout technique for the dc Superconducting QUantum Interference Device (SQUID) without flux modulation (FM), operated in voltage bias mode, and named it the SQUID Bootstrap Circuit (SBC). The SBC combines additional voltage and current feedbacks to minimize the room-temperature preamplifier noise. The main point of this paper is to compare the flux noise performance of the SBC readout with that of the FM scheme using a sine wave modulation signal. Several liquid-helium-cooled SQUID magnetometers with different layouts and loop inductances were characterized using these two readout schemes. Measured noise was comparable to or even lower than that measured by FM electronics. Furthermore, the SBC noise performance was evaluated as function of resistance which, when properly adjusted, permits us to nearly fulfill the critical noise suppression condition. We believe SBC to be a promising candidate for multi-channel SQUID systems.