|
|
Scottrade - best brokerage house for mutual fund investing in 2010
|
- Mutual Funds: over 2,800 no-load, no-transaction fee funds (NTF program) - free. No-load funds (not in NTF program) - $17.
Load funds are free to buy and $17 to sell.
- $7 stock trade commission (for stocks over $1) for all order types, unlimited shares.
- Options commission: $7 plus $1.25 per contract for market and limit orders.
- Investment products: stocks, options, mutual funds, CDs, munis, Canadian stocks, ETFs.
Scottrade offers over 2,800 NTF (no transaction fee, which means FREE to buy and sell) mutual funds,
which allows clients to invest in mutual funds for free.
- No inactivity or account maintenance fees
- No-fee IRAs
- Highest customer satisfaction according to JD Power and Associates
- 400+ local branches
- Great support for beginner investors
- Margin rates are among lowest of national online brokers
- Online community
- No ACAT fee
- Only $500 minimum to open account
Scottrade brokerage is excellent for beginner investors, those who invest in mutual funds, and
long-term, "buy and hold" investors (no account inactivity fees). There are 2,800+ free to buy/sell mutual funds
available to the firm's customers. Since Scottrade is a well-established, seasoned stock brokerage house with a
very good reputation, it's a natural choice for people nervous about trusting their money to the newer companies.
The firm also offers something few other brokers have - over 400 branches customers could visit in person.
Scottrade is consistently rated at the top in customer
service and investor satisfaction. New account could be opened with just $500.
|
|