Comments on: Scottrade Review

By: KathyW

KathyW — Fri, 18 Nov 2011 18:34:10 +0000

Never in my life have I delt with a company with as many issues as Scottrade. Their brokers are inexperienced, rude, and disrespectful. If I had to guess, I would imagine they hire people from craigslist general employment for $7/ Hour to match their trade fees. Be careful who you trust your money with, especially this place.

By: Mark

Mark — Fri, 18 Nov 2011 18:24:52 +0000

Scottrade’s reputation is going downhill faster than any stock I have seen. Their website is a joke, their trading platform crashes constantly, and their so-called brokers are as professional as a 6 year old child. I will never again trust any part of my nestegg to a company who’s response to daily internet problems is answered only on Twitter with “oh, I’m so sorry”

I for one will vote with my wallet.

By: Roy

Roy — Tue, 18 Oct 2011 22:23:50 +0000

Scottrade has been good for me but their ad that says $7. a trade is misleading. They broke one of my trades
into 4 trades. Cost $28.

By: Jason

Jason — Sat, 24 Sep 2011 17:28:30 +0000

Did you read the review at all? Though he did have some nice things to say about Scottrade, he never asked anyone to join. I found the information here and the user comments quite relevant as a review.

By: Jake Miller

Jake Miller — Fri, 23 Sep 2011 11:51:15 +0000

Do you often write reviews about products you’ve never used? How can you make a judgement call if Scottrade is right for someone when you yourself don’t even use it?!

By: LILLY

LILLY — Fri, 16 Sep 2011 15:32:58 +0000

Very Happy with Scottrade. You can get 3 free trades when joining Scottrade by using this code: ONCD0171

By: Lyn

Lyn — Wed, 10 Aug 2011 00:55:13 +0000

New 2011 and 2012 Scottrade referral code: IXFV9382 will get you 3 free trades when you open any type of account at Scottrade. Open an account at Scottrade and invest in stocks and ETF’s. After this weeks sell off….. Every stock is on sale… If gas goes on sale for $2.5o a gallon we’d all go buy all the gas we could store. So….. go and buy some stocks this month and in 5 years you will be very happy..

Scottrade referral code: IXFV9382 (3 free trades when you open anytype of account)

Happy Investing.
Lyn

By: Darryl

Darryl — Mon, 04 Jul 2011 01:52:14 +0000

Re: Sodbuster’s comment

For stocks priced $1 and above, you can buy/sell as many shares as you want for just $7 per trade. For stocks priced below $1 (penny stocks), each trade is $7 + 1/2% of the total trade value, so if the commission was $27 you must have bought $4000 worth of the penny stock ($7 + 1/2% of $4000). In other words, the commission is based on the stock price, not the size of the trade. This information comes directly from Scottrade’s Knowledge Center.

By: Sodbuster

Sodbuster — Sun, 03 Jul 2011 22:13:20 +0000

small trades are $7 , larger trades are more. I bought around 25000 shres of a penny stock and the price was $27.00. this was n OTC buy, does that make a
difference??

By: Darryl

Darryl — Fri, 24 Jun 2011 14:44:53 +0000

I am a new trader who has been using Scottrade for a couple of months now. Overall I have been satisfied with them. The website is simple and easy to use. The home page shows all pertinent information in well-organized form: your account balance, current positions, order status, alerts, and watch list. More account and order details are easily accessible with a single click. Placing an order is very simple and straightforward: You can do it either from the website (“Trade” tab) or using the streaming Scottrader Java applet, which shows real-time changes. I have made several trades and experienced no problems whatsoever. The $7 per trade seems reasonable and is cheaper than several other online brokers.

The website has plenty of ways to research stocks. Usually I type in a “Quick Quote” and get a summary page for a stock. Interactive charts can be constructed with just a few clicks and information about fundamentals, earnings, and financials is available by clicking tabs above the summary. The summary page also has direct links to analyst reports from S&P, Thomson Reuters, and Second Opinion. It also provides a few recent news headlines, although I have found that the stock pages on Yahoo Finance are better for finding news articles about a specific stock.

There is an online knowledge center that has various help pages and FAQs about trading. Much of the information is very basic and generic, but it is helpful for a new trader. A supplement to the main website is the Scottrade Community, which is a forum where Scottrade members can post about stocks and trading. I have found it to be a good resource, especially when I’ve had questions for which I couldn’t find the answers anywhere.

Beyond the website, I like that Scottrade has local branch offices all over the country. I visited my city’s downtown office to set up my account and I had a very good experience. The branch manager answered all my questions and my account was up and running in almost no time. He also called me a while ago out of the blue just to see how I was doing and whether I had any questions. It’s nice to be able to have that kind of personal contact.

In summary, I recommend Scottrade if you plan to start trading or if you aren’t satisfied with your current broker and want to switch. I did a bunch of research prior to starting with Scottrade and it seemed to be one of the best options out there. Now that I’ve had some experience with them, I am confident that I made a good decision.

If you decide to set up a new account with Scottrade, you can use ReferALL code UTXB2961 to get 3 free trades to get you started. I hope my review has been helpful.