Scottrade
- Name: Scottrade
- Motto / Slogan: More broker for your money.
- Website: http://www.scottrade.com/
- Phone: Call 1-800-619-SAVE (7283)
- Email: support@scottrade.com
Rating
(37 votes, average: 3.49 out of 5)
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Commissions
- Stocks: $7 per trade for online stock trades – for both market and limit orders
- Read more about Scottrade commissions: Commissions at
Scottrade
Fees
- Read more: Rates & Fees at Scottrade
Minimum Initial Deposit
- $500 minimum for online trading account
- $2,000 minimum for a margin account
Scottrade Branch Offices
Special Offers at Scottrade
- None yet!
Positives:
Cheap broker…. $7 dollar trades
Never any down time
People always avaliable to answer your questions
Negatives:
Java interface sucks, can’t use windows application unless you have 25k min.
strict rules, lotta paper work to do anything (must fax, it’s annoying).
can only transfer money in via (inperson check) or wire transfer ($20 + $10 local bank fee).
Scottrade is reliable and has good a deal on commissions. They also are good at tax time and with monthly online statements. In addition they offer many items for free like Dow Jones News.
I am not sure they are the best for serious active traders but for my level of trading they are more than sufficient.
I use Scottrade and couldn’t be happier. I have no plans or desire to switch anytime soon. They also just added a way to link your checking accounts to your Scottrade account for direct transfer of money in and out of your accounts. Oh and they are great at tax time, like BoBo says.
I love these guys. Trade pricing is up-front and easy to understand. The $500 minimum deposit allowed me to start with (and risk) less money. It may take me longer to grow that money, but I feel safer with less seed money at risk.
The staff has been extremely helpful in the instances where I’ve had questions or wanted clarifications on market rules (i.e. freeriding) or market conditions (e.g. splits, dividends, etc).
Scottrade is pretty cheap…plus they give you 3 free trades when you use the promo code: HESJ1527 when you deposit at least $500 when you sign up.
You actually *cant* just transfer money out of your Scottrade account, as you would if you were transferring money into it. You have to pay a $20 wire fee, or request a check. Yes, I realize this thread is years old.
I have been with Scottrade for over 10 years. I have neve had any trouble with them at all. I like their new streamer. I like their platform and research area. IF you need a referral code to get you started investing. Then I can get you 3 free trades any time you want to open any type of account st Scottrade.
Referral code: IXFV9382 New for 2011 and 2012 year.
Happy Investing.
Lyn
You may use WQAB6991 as the referral code. Happy Trading!
Thanks Lyn, I used your code today and did receive the 3 free trades. I hope you got your 3 free trades also.
Thanks,
Deb
New 2012 code KORF2746
No expiry, use this to get 3 free trades ($21 value) when opening a new scottrade account