Scottrade is an award-winning broker that gives their clients access to hundreds of branches, outstanding customer service, and free research and trading tools. You would think that this great service would put a large dent in your bank account, but Scottrade is actually known for its modest $7 online trade fee and lack of annual maintenance fees or inactivity fees. These great features make the company an ideal choice for the average investor.
New Account Setup:
In addition to their great features and services, Scottrade has made opening an account as simple as possible. Thanks to electronic signatures, there are no forms to print and mail, so the entire process can be finished in minutes. Once you set up a few security questions and consent to a few standard agreements, you’ll be free to login and start trading.
Pricing and Services:
There is a $500 minimum opening balance for Scottrade, and online trades are $7 for stocks priced $1 and above. It isn’t the cheapest online broker available, but the low commissions and fees makes the broker well worth it. Scottrade also offers outstanding online banking service with no maintenance, withdrawal, transfer or ATM fees. The company even provides a mobile app for iPhone, BlackBerry, or Android that allows you to monitor investments, generate investment ideas, research opportunities, and execute trades.
Scottrade Account Features:
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- #1 in customer satisfaction according to JD Power and Associates
- 500+ local branches for in-person assistance
- Great support for beginner investors with a massive number of educational resources
- Online user community
- Good banking services: savings, CDs, money market and free checking accounts (free ATM withdrawals, VISA check card, and first order of checks free)
- Only $500 minimum to open account
- Free real-time streaming quotes and charts
- Free dividend reinvestment for mutual funds (but not for stocks)
- Largest number of mutual funds – over 14,500
Scottrade is a very established brokerage firm and a top choice for those of you who are looking for trustworthy, affordable guidance with your investments. By signing up with Scottrade you have the ability to manage your investments at home, on your smartphone, or at a local branch. Open up an account today with this great broker. Find more investment opportunities in our full list of brokerage bonuses!
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