Stock Broker Review: Scottrade

(*) IMPORTANT: TD Ameritrade acquired and absorbed Scottrade in 2017

╙ Compare Forex/CFD Brokers

 

Introduction to Scotttrade

Scottrade was founded in 1980 and now has a network of more than 500 branch offices. Their online services include three different trading platforms: Scottrade Elite, Scottrade, and OptionsFirst. Scottrade offers more than 1,000 no-transaction-fee mutual funds, plus 10,000 load and no-load funds. They also offer IRAs, Bonds, and CDs.

🏢 ScotTrade Corporate, P.O. Box 31759, Saint Louis / MO 63131

 

Brokerage Services include:

• Stocks, Mutual Funds, Options, ETFs, Bonds, IRAs, CDs, OTC markets, ESAs, and Treasuries

 

 Scottrade Commissions:

1) Stock Trading

Online stock trading costs $7.0 / trade, no matter how many shares are traded. If the share price is worth less than $1, then a 5% fee based on the principal value is added.

$27 for trading executable by specialized brokers

2) Options Trading

$7 plus an additional $1.25 charge per option contract.

3) Mutual Funds Trading

$17.00 per Mutual Fund trade, plus an additional fee may be charged depending on the mutual fund.

Other Charges include:

$1 to confirm mail for online accounts

$20 for Overnight delivery / Returned checks

 

Minimum Account Size:

Minimum deposit on Scottrade is $500.

 

Scottrade Features:

1) Online personalized education

2) A high quality of customer service, except for live chatting

3) No fees for maintenance

4) The Chinese version of the Scottrade website

 

 

Mobile Trading:

Applications for mobile devices include Apple iPhone, Android, and BlackBerry.

 

Scottrade Promotions:

Referral promotions are available on Scottrade

Scottrade is not charging any Transfer Fees

 

⚖️ SCOTTRADE REVIEW CONCLUSIONS
☑️ SCOTTRADE ADVANTAGES	❌ SCOTTRADE DISADVANTAGES
√ A network of 500 branch offices √ A wide variety of trading assets √ No fees for maintenance √ Fast speed of trading execution √ Trading education	X Trading platform with limited tools X No chat support

 

(*) IMPORTANT: TD Ameritrade acquired and absorbed Scottrade in 2017

 

■ Scottrade Review

TradingCenter.org (c)