Scottrade Review

Scottrade Overview

Scottrade is one of the largest and most well known of the online discount brokers. This is due in part to their long tenure in this category, helping to usher in the era of individuals conducting their own trading. It is also due in part to their heavy advertising in television, print and online media.

Scottrade more than any other broker set the pricing standard for low, flat-rate pricing. Their $7.00 per trade fee is easy to communicate and set a low bar for their competitors. Today there are many brokers who charge less, but Scottrade is hard to beat for competitive pricing from a broker that is solid across most of the categories you can look at.

Scottrade targets the experienced trader. While their pricing is low, they also provide service levels that are needed by this group. Some of these things include foreign market trading in 20 markets, the largest chain of local branch offices of any online broker where traders can work with Scottrade in person. It also includes a broad offering of investment products in addition to general stock trading. While they offer some educational services that are especially useful to new traders, they are not particularly deep and would need to be supplemented by someone who really wanted to do more thorough study on their investment education.

View the Current Promotion for opening up a new Scottrade account

Scottrade Services

Scottrade offers:
- Foreign market trading in 20 markets
- A deep offering of investment products including IRAs, mutual funds, CDs, bonds
   of all types, ETFs and options
- Highly rated trading tools and screening tools plus mobile trading capabilities
- Highly rated customer service that has earned it the J.D. Power and Associates
   award for “Highest in Investor Satisfaction”
- Good ratings on research tools including content from S&P, Dow Jones News
   and Market Edge
- Very limited offerings of Banking services

Scottrade Commissions and Fees

- Cost Per Trade: $7.00 flat-rate
- Additional Trading Fees: For stocks priced under $1.00, add 1/2% of the
principal value to the commission
- Account Minimum Balance: $500
- Broker Assisted Trades: $27.00
- Account Maintenance Fees: None
- Cancellation Fees: None

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