Scottrade Reviews And Information
Scottrade Commissions
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Market:
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$7.00
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Limit:
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$7.00
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Options:
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$7.00 + $1.25 per contract
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Rate this Broker
Scottrade has been around since 1980, and has always been at the forefront of technology in the trading business. It is billed as a deep-discount broker, with a flat rate of $7 for most trades, yat it prides itself on its outstanding customer service. It maintains some 318 local offices in 47 states, making it one of the most accessible discount brokerages available.
Scottrade Services
Scottrade's service selection is excellent. Customers can trade stocks, bonds, options, and a huge selection of mutual funds. Further, Scottrade is one of the few discount brokers to offer preferred stocks to its customers.
The online trading platform is solid and intuitive. Further, customers have free access to research from Thomson and S&P, free real-time streaming quotes, and interactive charts
Scottrade offers two more advanced trading plaforms as well, called
Scottrader and
Scottrader Elite. These platforms feature integrated level II quotes, and NASDAQ Totalview, which lists market-maker bid/ask spreads in real-time. Further, traders may trade via mobile devices or an auto-response telephone service at no extra cost.
Scottrade also offers CDs, and some limited banking services including check writing and ATM cards.
Scottrade Reviews in the Media
Scottrade is a media darling, having been ranked number 1 in customer satisfaction six consecutive times by J.D. Powers, and receive praise from a number of other providers. Criticisms have dealt mainly with the limited selection of no-load mutual funds and limited reseach resources.
Downsides to Consider
Scottrade is not geared for extremely active traders. Its platform is not the most technically advanced, and its research tools are a bit on the thin side.
Bottom Line
Scottrade is an excellent choice for small investors and affluent investors alike. Its service it top-notch, its expenses are very low, and its executions are solid. Unless you're a day-trader or a hard-core tehcnical analysis afficionado, it's highly unlikely you'll regret choosing them. Still, although their prices are quite low, they are not the absolute cheapest online broker available. Cost-conscious self-directed investors may wish to consider
Zecco.com or
TradeKing.com, instead.
User Rating
Latest User Review for Scottrade
Notable Features
Personalized service, local offices, preferred stocks
Investments Available
Stocks, bonds, mutual funds, options, preferred stocks
Alternate Spellings
Scott Trade
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Scotttrade
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Scottsave
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Scotrade
Based on 10 votes.
I found out a stock I sold this am at the opening sold almost 10% BELOW the low for the day. I checked and rechecked on several sites. I think Scottrade has its own version of lows and one should protect themselves from getting ripped of by placing only stops or limits. When I called they consulted the trading desk and told me it was a "good" trade. It surely was good for them but Bad for me.