Scottrade Trading Commissions
- $7 per stock/etf trade
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ free, $17 for all other mutual funds
- CDs, OTC Secondary Corporates, OTC Secondary Municipals, U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings: subject to a markup or markdown
- Listed Corporate Bonds: $35 fee + $3 per Bond (minimum investment $1,000)
- Unit Investment Trusts (UIT): $50 liquidation fee
- Foreign Stocks Transferring In or Out: $60 per transaction
Scottrade Important Fees and Surcharges
- Extended hours surcharge: $0
- Large order surcharge: $0
- Penny stocks surcharge: $0.01 per share
- IRA setup fee: $0
- Annual IRA fee: $0
Scottrade Account Pros
- Truly excellent customer service
- 500+ local branches
- Free real-time streaming quotes and charts
- Online community
- Perfect broker for beginner investors
- Great Trade Ideas tool
- No IRA fees (setup, annual, termination)
- Just $500 to open account
Scottrade Account Cons
- Surcharge of ½% of the principal value on penny stock trades
- Website could be improved
- Scottrade Elite is only available to 25K and larger accounts
- Cannot short sell stocks under $5
Scottrade Account Types
- Individual Retirement Accounts
- Standard Scottrade Accounts
- Individual
- Joint Tenants
- Specialty Accounts
- Trust Account
- Estate
- Partnership
- Investment Club
- Sole Proprietorship
- Corporate Accounts
- Limited Liability Company
- Stock Broker-Assisted Account
- 401K Plans/Defined Benefit/Money Purchase/Keogh DVP
Scottrade Review
Scottrade is the cheapest firm among large, well-known brokerage houses. The company has over 500 local offices which customers
could visit and talk with representatives face-to-face. The stuff their is very friendly and treat everyone with respect,
regardless of how big their account is (unlike some other brokerage houses). Minimum to open cash account is only $500.
The website and trading tools could use an upgrade. The firm provides solid analysis with the S&P reports. Their stock screener
is very useful.
Scottrade is the only online broker not charging outgoing ACAT fee (if you decide to move your account to another company,
it will cost you nothing) AND IRA fees. Not even IRA Termination fee! Together with security of a large firm, this makes
Scottrade an excellent option for a retirement account.
Scottrade and Charles Schwab are boasting the best customer service among big brokerage companies. The firm's trading tools are
easy to learn and to use for beginner investors even if they hardly know what they are doing. Newbies: this is your broker.
Scottrade Promotional Code
Click on the link to get up to $100 in transfer fee reimbursed:
Scottrade
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