Scottrade Review Summary
Scottrade is a practical, inexpensive online brokerage company that keeps fees low and thus helps keep money in its investors accounts. Scottrade offers its customers a very low, flat trading fee; a small minimum amount of cash necessary to open an account; and plenty of reports and analysis to let you know how well your investments are performing. “No Frills, No Hassles, No Sales Pitches, No Problems!” is an accurate assessment of reviewer opinion of Scottrade and while Scottrade can sometimes make it a little difficult to access cash, its low fees and no frills approach to brokerage make it a popular Online Broker for those with limited funds.
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Scottrade Comparison
Most HelpfulFavorable Review
Have been using ScotTrade for 3 years now and have nothing but great things to say about using the website. Of course the $7 trades are great but also that you have thousands of Mutual Funds to invest in if you so desire. One tip I have is they are suppose to be up to the minute on trades but if you...
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Most HelpfulCritical Review
Scottrade Ratings and Reviews
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We switched both our IRAs and our post-tax investments to Scottrade several years ago, and have been very happy with them. We switched for the lower per-trade rate AND because I was unhappy with our former broker's buy methods...I had to pay extra for limit orders and brother I'd better use them, otherwise I paid whatever the highest intraday price was, or was given the lowest price on my sell orders. UGH.
Scottrade goes in real time, and does not charge me extra for limit orders if I'm feeling nervous. Awesome!
I also appreciate that they assume I know what I'm doing. I don't get calls from a broker...
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If you want a no-nonsense online broker, Scottrade is your best bet. Trades are only $7 and there are no hidden fees. This may indeed represent the best value in online brokerage.
The account summary gives a short term growth history and shows the amount availble for trade. Daily gains and losses are also readily visible on the homepage. Statements are available online.
Trades are executed promptly with confirmation sent via email. Free trades are available by referring others to the service.
One complaint I had before was the inability to electronically fund the account. However,...
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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...
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The guy helped me opened an account fast, asked the right questions, explained the process of placing a stock, and picked up the phone immediatly whenever I call him.
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Love to invest with scottrade, love that they have local offices, the only thing i wish they had was an easier add and withdrawl funds. I want instant. I dont want to have to call there local branch to have them issue a check. but on the other had maybe that is how they keep there trade fees so low. I still love them
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