A leading investment services company founded in 1980, Scottrade’s mission is to improve lives by helping people overcome barriers to financial
success. Through a large, nationwide branch network, Scottrade partners with millions of clients, offering them the solutions and support they
need to take control of their long-term investing and trading needs.
In J.D. Power 2017 U.S. Self-Directed Investor Satisfaction Study, Scottrade was
the No. 1 in the survey. However, USAA Investments ranked even higher, yet it was not included in the final rankings because it is "open only to U.S. military personnel and their
family members," stated the JDPower.com. Nevertheless, a full range of USAA self-directed investments and wealth management services are
available to the general public as well.
I like Scottrade as a broker when you pair it with their banking functionality. You can move funds between your investment account and checking count seamlessly. Also they reimburse ATM charges!
by Mel of Surprise,
Helped someone open an account online. Very user-friendly. Everyone in Customer Service with whom I have spoken, has been helpful and professional. Manager at the Surprise, AZ branch (13869 W Bell Rd), ** has been extremely cooperative and accommodating. In a word, "exemplary". Scottrade has a good system. If you call the branch and they are busy with other customers, the call is routed to their Customer Service Call Center.
by Gone Wild,
I personally find Scottrade pretty good to deal with. I have not encountered any difficulty as of yet and hopefully I will not. I find they are very professional and knowledgeable when you call or email them and quite prompt with response time as well.
by TopRatedFirms @ Dave,
Full account transfer cost $75 at Scottrade.
Level II Quotes are FREE with 10 commissionable trades per month. Otherwise it is just $10 per month.
Level II Quotes are an optional service. Initially, you will be charged $10 to activate Level II Quotes. This activation fee is non-refundable, and will be charged to your account immediately. Thereafter, you will be charged a monthly access fee of $10 for your continued access to this service.
Scottrade has named me a "professional trader" and restricted my access to real time quotes. I am NOT a professional just a working staff outside the equity markets. These lousies wanted $120/ mo for quotes. They lied that the SEC & NASDAQ made rules they had to do it. No other firms are charging. What a load of Bull. I transferred out of Scottrade and the lousies charged me $75/ acct. saying it's a new rule. I had been told by client associates and local office personnel there was no charge to exit Scottrade. Rat ba**s lied. Enough need to bite the bullet and leave these liars to fold.
Website is down this morning. Tried to call customer service about this, but no one answers due to inordinately high call volume. Missed out in trading opportunities. Can't imagine what a predicament I would be in if I wanted to exit/enter a position. I have found Scottrade’s service to be erratic over the past couple years.
I use the Elite software from scottrade and I have had no problems for the last 3 years I have been using them. They have an amazing amount of features and the whole system is really easy to use. Customer reps are always helpful if you need to speak to them for any reason..
Pros: Good for buying funds
Good for buying mutual funds. Don't have a lot of the fees others have, but do not like their active tools for investing.
by 10 year customer, leaving,
Pros: same as the rest, no particular benefit
Cons: crap trading platform
Updated Elite trading platform is riddled with bugs and has less functionality than prior platform. Old one was a little clunky and had some problems but at least it worked. New one has inane menu system, Neanderthal config tools, and a general disarray of inconsistent tools. Charts won't display the time frame you request if the algorithm decides it doesn't want to, no matter what you request, so, for example, a daily 5 year chart comes up identical to a daily 2 year chart. You can't make it display more than it decides you should see. Incredibly stupid. I have several pages of notes of failings, all of which have been forwarded to their IT department, and have spoken with them extensively on the failings. After several discussions, I have no confidence that they will fix this mess. The general attitude is one of explaining why they left things out, and why things don't work, rather than defining a roadmap to fix the problems. Considering that this platform came out in early 2013 and is still chock full of problems, it is very unlikely they will make significant corrections. I have found data that is simply wrong several times, so I have no confidence in the accuracy either. One one occasion at market open it took over 6 minutes before a trailing stop updated, and it updated to a price that was not correct, failing to capture the proper high on the morning spike. I get that there can be lags at open, but typically it is a few seconds and not several minutes. Scottrade has confirmed the failure and so far has not agreed to provide the trading log - which used to be readily available on the older platform. I just don't trust their software any more, so after 10 years with them I'm moving my accounts. And that is in spite of them cutting 2% off my margin rate to get me to stick around while they 'fix' some of the dozens of bugs I've submitted. Zero confidence.
Pros: Easy website
Cons: Cavalier attitude to customer concerns
After over 10 years as a Scottrade customer I left after drastic unwarranted surprise changes to margin rules. Their response, "why didn't you read the margin agreement?, followed by "if you don't cover the margin call today we will liquidate your account."
After years as a customer, covering margin calls when necessary and paying lots of interest, that was their attitude. They won't handle my business any more and I advise that you steer clear.
Pros: Good customer service, good platform
I have been using Scottrade for about one year now, platform seems to have everything that is necessary for a good trading experience. After first opening the account I received a call from customer service, they were friendly and helpful and offered to schedule an appointment to visit a nearby branch to discuss how to properly use website/platform. After the visit I was surprised by how much interest they showed in helping me to become as familiar with their services as possible.
Pros: Cheapest among large brokers, great customer service, local offices
Cons: Website design is outdated
People at Scottrade are some of the nicest you'll ever deal with. You could go to a local office and talk with someone face-to-face. There so many NTF mutual funds you could invest in them commission free.
One of the best trading sites I have ever used! If you have not opened an account yet i highly suggest that you do. Trades are only $7 bucks and to open a new account all they ask is $500 They have some of the best tools for researching and staying up to date with stocks, and their local branches are available and willing to help with any questions you might have.