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Scottrade is a private discount brokerage firm in US. They have head quarter in St. They have nearly branches all over US. They offer service to Asian- pacific customers also. This service is provided through there center in china. In year they launched Scottrade bank. Some important things have to be considered before starting dealing with an online broker. The one which provides fewer prices is good but only this is not enough. One should do enough research of the service provider they are looking for, and should see pros and con of that service provider.
Following are some main points for one of the leading online broker in US: Facility to open either individual or joint account: First one is individual account.
And second one is joint account. In joint account you can add maximum 3 people. From your account you can trade stocks, mutual funds, many bonds, exchange trade funds, options etc. Is you are trading options then you will have to pay 1.
Business and trust account: They take absolutely no fee for account maintenance. It is not just that, they even charge anything for deactivating your existing account. According to me this is very special thing they give. Low price for stock trade: They have one of the least pricing in American market. If you compare Scottrade to other discount giving traders, then also Scottrade are taking much less commission. In case of option trade they are taking much higher commission but in case of stock, they are the best.
This is largest network by any trading company in US. Security on your account funds: This security account is given at no cost. This insurance security is similar to FDIC security given to you with your deposits in bank.
So there is absolutely no need to worry about financial stability of Scottrade. It is not just that, they have won customer satisfaction, less interest rate awards in year and in D power and associates have ranked Scottrade as highest customer satisfaction providing Broker Company. Once you start account, you can transfer your IRAs to Scottrade for free. Also their website provides very easy to use online platform. With this platform you will get free access to real time streaming quotes, charts, market news, latest announcement etc.
Do you use Scottrade? Tell us more about your experience, you good, bad or neutral opinions are most valuable for other readers. Finance Product Reviews is an independent website.
Although we may have advertisement relationship with financial institution we review, they do not influence our decision or rating of products. Contents of this site are not provided by any financial institution, banks, brokerages or credit card issuers. Being from the St. Louis area, I was surprised at how this company grew so big. I am a big fan of Charles Schwab.
I use both their investment and banking services. The dividend reinvestment issue is one major negative. Definitely a fatal flaw! Thanks for pointing it out. Notify me of followup comments via e-mail. You can also subscribe without commenting. Disclosure of Material Connection: Regardless, I only recommend products or services I use personally and believe will add value to my readers. Brokerage Accounts , Product reviews.
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