Scottrade

800 619 7283
Town and Country, Missouri, United States

Online broker Scottrade is perhaps best known for its exceptional customer service, with a large network of branches that host live investor education seminars and provide representatives to answer customer questions and offer guidance in person. That, coupled with the broker’s $0 account minimum requirement for IRA accounts, makes it a strong candidate for beginner investors who need a bit of guidance. More seasoned traders will appreciate Scottrade’s research offerings and mid-range commissions.

QUICK FACTS

  • Commissions: $7 per trade
  • Account minimum: $0 for IRAs; $2,500 for brokerage
  • Promotion: 50 commission-free trades with deposit of $10,000 or more

Scottrade is best for:

  • Beginner investors
  • IRA investors
  • Investors who prioritize customer service

Scottrade offers the kind of hand-holding that beginner investors need to get started: a breadth of educational resources, in-person support and free investor seminars. The company’s $0 account minimum for IRAs makes it an attractive option for those accounts, and advanced investors will appreciate the company’s strong trading platforms and wealth of research, though the investment selection at Scottrade is limited.

Founded in: 1980
Licensed:
Platforms: Scottrade Trading Web Site, ScottradeELITE Advanced Trading Platform, Scottrader Streaming Quotes, Scottrade OptionsFirst, Scottrade Mobile Application, Scottrade Mobile Website
Capital:
Fees:
Broker:
Exchange: 7
Withdrawal:
Minimum Deposit: 2500

Mobile Trading Daily Analytics Bonuses & Discounts Seminars, Education Manager Support Assets Management

User Reviews

JamesOdem

I've used Scottrade for almost seven years and will continue to do so for the foreseeable future. Their website is simple and easy to use for beginners, yet it gives you access to countless tools for the advanced investors/traders. The local offices have always been helpful and I've never been placed on hold - customer service at its finest.

PPW

I had a very bad customer service experience today with Scottrade. I am a customer for many years. In the past, whenever I called, a real person, a local branch staff would answer the phone on the first or second ring. We know each others names. Today, I waited 30 minutes on the phone, and still nobody answered. I thought something was wrong and called again, same experience. I wonder if Scottrade is changing its business model. Too bad.

NoCorporateBS

Their offices are a joke. Half the people there are asleep most of the time. Scottrade has very arcane rules concerning getting your money transferred back to you. Easy to get money in (of course they hold your money for days before you can trade on it), but hard to get it out. AVOID.

goerizal1

scottrade often gives a higher bid and ask qoutes on a common stock share compared to etrade which i also have an account - as high as 56 cents more per share.

harrydweeks

Scottrade has recently had an inordinate ammount of technical difficulties with website not to mention recent hack attack on accounts. Don't seem to really care about account holders as much as in the past. Very difficult to get a response from technical dept. Sorry but not the firm it used to be.

AssuntaBianchini
You are soooooh right!
Susan

I opened an account with them after answering way more questions about my finances than I should. After the account was open and they had transferred my money from my bank account, they came back with even more personal questions. I blew my top and am now struggling with them to get my money back out.