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Scottrade

Scottrade Review



Overall 4.14 of 5 view all 7 reviews



Best brokerage out there
4 star rating

value conscious, Finance Savvy
Pros

    $7 flat rate per trade

Cons
    No dividend reinvestment, US and Canadian exchanges only, Withdrawing cash difficult

DEC
25
2007

I switched to Scottrade from Citibank/Salomon Brothers about a year ago.  I have been very happy with their service so far.  Also, at $7 per trade, compared to $25 at Citi, it was a no-brainer.  There are no account maintenance fees either. 

Their website is easy to navigate, and they have branches all over most cities- so they can always answer questions in person.  Their customer service at the branches has also been excellent.  There are a few improvements I would like to see:

-Offer dividend reinvestment, which is a great way for investors to build their portfolio.

-Allow investment in other exchanges besides US and Canadian

-You can deposit cash using an ACH transfer, but you can withdraw using that.  you must request a check at a branch, which can be inconvenient.

 

I_thumb_up Scottrade is recommended by df1982


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