Official Scottrade Review
When it comes to discount stock brokerages, there are usually two types… one that allows you to trade stocks plus manage other long-term investments (E*Trade, TD Ameritrade), and then those that focus more on stock trading and low commissions (TradeKing, Zecco). Scottrade fits best right in between those two categories.
A mixture of of both worlds. Combining their services and commissions you get exactly that. Not the cheapest commissions around, but lower than the “all-in-one” brokerages, and a limited amount of services, but more than “low commission focused” brokerages.
Tools, tools, and then more tools. Scottrade offers a wide variety of tools for its users to use. There is a streaming application for both options and stocks, while there is also a desktop program available for those that deposit a minimum of $25,000 into their account. Also new to the group is Scottrade’s own mobile application, so you can trade on the go. See a full list of brokerages that offer mobile trading services.
Stock Brokerage Details
Commissions: Stocks $7 per trade; Options $7 plus $1.25 per contract.
Account Minimums: $0 and no inactivity fees ($500 initial deposit required)
Overall, you really get what you pay for with Scottrade: decent commission fees along with more than enough investment options. Its not necessarily the best nor the worse, but a brokerage that can satisfy almost any type of trader.
Sign up for a Scottrade account.
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