Scottrade Review - Is This Online Stock Broker Worth Considering?

Scottrade is one of the most recognized online stock brokers in the industry due to the excellent customer service and heavy advertising by this brokerage. Its wide range of investment services include stock trades, mutual funds, and exchange traded funds, to name just a few in this Scottrade review.

To open up a Scottrade account, you only need $500. This low balance requirement is another reason a lot of novice investors prefer this brokerage. After using the account for a while users have observed the following advantages and disadvantages of the online investment broker. Keep in mind that these observations may not be similar to the experiences of other people simply because each individual will have unique investment goals although the means, namely, stock trades and investments are the same.

There are quite a few other positives to consider before opening up a Scottrade account:

  • First, the $7 flat rate per trade is one of the lowest in the industry. Still, you may want to consider trading in higher amounts so as compensate for the rate.
  • Second, the website features an easy-to-navigate interface. We must admit that many veteran traders and investors may not be as Internet-savvy in the same level as being money-savvy. Thus, the user-friendly site is definitely one point in favor of Scottrade.
  • Third, the real-time streaming quotes on the site provides for many benefits on their own. You can monitor which of the stocks may be worth investing in and which of your stocks are performing just as expected. Your trade or investment decision can then be made based on real-time information. You also have the benefit of good stock reports, which many a Scottrade review also praised.
  • Fourth, the brokerage firm include its strong presence in many locations, pre- and post-market hour trades, and a certain number of free trades for customer referrals. Think of the latter as savings on the flat rate of the trade.
  • Fifth, we love the great customer service provided by the company, which is better by leaps and bounds in comparison with its competitors.

For the price, its hard to beat the research options that are provided. But, for a lot of investors these are fairly limited. As you gain more experience with investing, you may want access to fancier tools and research options. At that time, you should consider other brokers to see if they offer tools that warrant the higher fees.

Overall, we believe that Scottrade is an excellent online broker for investors who are looking for a internet penny stock broker that provides trades at a discount without any expensive bells and whistles while providing great customer service.