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Scottrade Review

Shiryee MaReviewed By: Rating: ★★★★☆ (4) Updated On: Dec 30, 2014

The Honest Review on Scottrade – Is It Really That Good?

Scottrade could be termed as an elderly pension scheme. You might be wondering what that means. Well, from this review on Scottrade, you will find that this online trading tool is extremely beneficial for those who are nearing their retirement. It does not mean that this trading tool is only for that category, but for users who want a simple system, where everything is almost straightforward.

The Honest Review on Scottrade  (1)

Everything can be done easily on their online trading platform. You can easily open your account, get personal guidance on how to go about your trading, and the rates are not too high.

Let us find out more on Scottrade.

About Scottrade

Scottrade was founded by Rodger O. Riney, who is also the current CEO and is headquartered in Missouri. It has been providing services for more than 25 years. The American discount retail brokerage firm has more than 500 branches in the United States of America. The company also provides their brokerage services to customers from Asian countries through Chinese speaking stockbrokers.

If you are from China or other Asian countries and are planning to open an online account with the brokerage firm, then you will want to know that you will have no communication problems.

Investment offers

When using their online stock trading tools, you will want to know that they give you complete control of your investments. They provide you with excellent investment offers that come for a reasonable price. Their website is simple to navigate and trade. The American discount retail brokerage firm offers some of the latest stock trading features.

The Honest Review on Scottrade  (2)

Fees and Commissions

The American discount retail brokerage firm provides you with extremely low trading fees. In simple words, you do not have to pay anything to use your account. When you decide to go inactive for some time, you don’t have to pay anything. You will have to pay $7 for regular stock trades.

When you want to do options trading, then you will have to shell out $8.25, which is slightly expensive when compared to other online stock trading tools. You would want to know that you have more than 14,000 mutual funds to choose from. That is a large number. You know that you can choose something that will suit your requirements.

Trading Tools

The trading tools provided by this American discount retail brokerage firm are simple to use and learn. There are three platforms through which you can do your trading namely, Scottrade, Scottrader and Scottrade Elite. Scottrade Elite which is their desktop version helps you add all the tools and windows you need.

When you are checking a stock, you can easily look at windows which get updated. The website is easy to navigate and you can easily find your way around. On the downside, the Scottrade app comes with an outdated look. You might feel that way when you open the app and you are presented with icons that are way too large.

Help, Supports and Resources

This is where Scottrade stands out from the rest of the online trading platforms which are available in the market. It is for this reason that this trading tool is ideal for those who don’t have any idea on stock trading. They have the best network of local branches and can be easily communicated using social media tools like Facebook, Twitter, LinkedIn, and others.

The firm updates their social media status every hour, which just goes to show the kind of online presence they maintain. You can be assured of immediate response when you communicate with them using social media tools. Their research provides you with all the fundamental data which you will want to know about.

Awards

The American discount retail brokerage firm was ranked No. 53 on Fortune’s annual “100 Best Companies to Work For” List, in the year 2013. The firm has been appearing for the sixth consecutive appearance on the list. The firm was also ranked No. 31 on Fortune’s annual “100 Best Companies to Work For” List, in the year 2012.

Summary

You never know, Scottrade might work out for you. Apart from that you get a wide range of research tools and investments to perform, which can guarantee you with excellent returns.

As if that were not enough, you also get to utilize their customer service which has received numerous awards. You can be rest assured of that. It is perfect for those of you who are nearing your retirement and want a steady source of income. If you are working from home at the moment, then you might have give this a shot.

Review Overall

Recommended
Summary: In conclusion, cannot be called as the best online stock trading tool in the market, at the moment. However, when you are looking for a trading tool which can provide you with instant support and guidance, then Scottrade it is.
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