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Here you can review a sampling of comments from fellow Dogs of the Dow investors regarding Scottrade. For our list of the best low commission online brokers, take a look at our exclusive list of Top Dog Brokers. And, as always, if you have experience with a deep discount broker, simply fill out our Top Dog Brokers Comment Form and let us all know what you think.
Scottrade - "Low fees, No maintenance fees -- Website is hard to learn."
Jim Davey - USA (May-2013) - Reply or add your Scottrade review
Scottrade - "Good research and trade execution."
Dan Briggs - USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "Need to offer gtc orders."
Robert Buckley - USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "Good service. Always available."
Jack Schultz - USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "Pros: low commission, ease of trading."
David - USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "Pros: Ease of use. Low expense. Good access to research."
James Smith - USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "$7.00 trades are reasonable and they have offices here in Vegas."
Ken Edwards - Nevada, USA (Apr-2013) - Reply or add your Scottrade review
Scottrade - "Good no account fees broker. Trade and wait is ok with them."
Jim Cameron - USA (Mar-2013) - Reply or add your Scottrade review
Scottrade - "Would like to more flexible reports, especially for multiple accounts."
Lynette Kuykendall - USA (Mar-2013) - Reply or add your Scottrade review
Scottrade - "Pros: Low fees and website are very user friendly. Local office and excellent customer service."
Doris Johnson - USA (Mar-2013) - Reply or add your Scottrade review
Scottrade - "Good information, charts, research, inexpensive."
Richard Hendershott - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "Pros - Cost, quick fills, easy web site."
Robert Deiuliis - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "Pro: Website is very nice-has a lot of information and is easy to use. Cons: Need to permit auto-reinvestment of
dividends in account."
Robert Bartlett - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "Pro: $7 trades. Con(1 of many): wide spread between what you receive when you sell a stock and what you have to pay for that same stock!"
Clarence Allen - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "I have been using Scottrade for about one year now, platform seems to have everything that is necessary for a good trading experience. After first opening the account I received a call from customer service, they were friendly and helpful and offered to schedule an appointment to visit a nearby branch to discuss how to properly use website/platform. After the visit I was surprised by how much interest they showed in helping me to become as familiar with their services as possible. Here's a code for 3 free trades at sign up in case anyone is interested: FDUK8950 Never Expires."
Daniel - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "Customer service is very good, commissions are low, range of offering also good, website is easy for a 86 year old."
Helen Shrum - USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "Low cost. Ease of trading."
Paul Taylor - North Carolina, USA (Feb-2013) - Reply or add your Scottrade review
Scottrade - "They have reasonable commissions and fees. They offer many services such as banking, quotes, and research. Trading has been very easy and quick."
Elizabeth Wilkinson - USA (Jan-2013) - Reply or add your Scottrade review
Scottrade - "Good research, fair commissions, great customer service, good educational services. Options First and Scottrade need to share the same platfotm."
Garry Stone - USA (Jan-2013) - Reply or add your Scottrade review
Scottrade - "They do not charge inactivity and any handling charges."
Varun - USA (Jan-2013) - Reply or add your Scottrade review
Scottrade - "Fast. Low cost. Accurate."
Richard Bauer - USA (Jan-2013) - Reply or add your Scottrade review
Scottrade - "Cheap. Easy to reach for help."
Larry Rachal - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "If I need help, all I have to do is call the local office. The price has never changed. The website is great."
Bryan Niemeier - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "Scottrade is user friendly"
Jason Kong - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "Pros: Low fees, website usability."
David Bruce - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "Excellent service, reasonably low cost trades, functional website. Only con is that there are lower transaction costs available at several other discount brokerages."
Ian Reeve - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "No automatic dividend reinvestment."
Michael Treman - California, USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "I really like Scottrade."
Joyce Tone - Florida, USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "Good trade execution, good research and charts."
Dan Briggs - USA (Dec-2012) - Reply or add your Scottrade review
Scottrade - "Scottrade does everything I need to buy and sell stocks and ETF's."
Jim Ramey - South Carolina, USA (Nov-2012) - Reply or add your Scottrade review
Scottrade - "Pros - low cost. Cons - website usability."
Felicia - Texas, USA (Nov-2012) - Reply or add your Scottrade review
Scottrade - "Stock trade commissions very good but no div. reinvestment for stocks or purchase of Treasuries direct."
B. Brockman - Kansas, USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "In my streaming quotes only the stocks that I am trading stop streaming. I find this very odd and suspicious. All 30 other stocks keep updating and then I refresh my account and see that my stock has moved against me. I have contacted them twice with no real answer. Also they took my short position once and multiple times will not let me short a widely traded stock. I will be leaving this broker."
Dan Jensen - Oregon, USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "Good selection of securities, low cost trades, good trading platforms to work with."
Keith - Texas, USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "Good screener."
Paul Harland - USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "Pros: fees, access to analyses, tax help. Cons: no office here."
Robert Ferrell - USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "Brokers are extremely personable and helpful."
E. Sharon Capobianco - Rhode Island, USA (Oct-2012) - Reply or add your Scottrade review
Scottrade - "Not only is Scottrade's commission commission schedule very competitive, their fees are amongst the lowest."
Miguel - Arizona, USA (Aug-2012) - Reply or add your Scottrade review
Scottrade - "It is good to know that I am not the only one that has lost money do to Scottrade misinformation and problems with the trading platform. Make a trade and watch it go to sleep. Nice to get the wrong information from branch manager and surprise. You have to pay more than 6k in taxes when you are disabled. They know how to take care of you when you are going put in more money. Thanks for screwing me. Never again. Go to someone else!"
Phaneuf - Massachusetts, USA (Feb-2012) - Reply or add your Scottrade review
Scottrade - "I've had no problems whatsoever with Scottrade. All my orders have gone through without a hitch and my local branch has been responsive to my questions. Their stock screeners are easy to use and their research is decent, though perhaps not as comprehensive as Zack's or Morningstar. Best of all, their commission per trade is on the low side of the spectrum. I would recommend them."
Quinn - California, USA (Feb-2012) - Reply or add your Scottrade review
Scottrade - "I now only use scottrade for Dow Dog investing but when I first started, I used some CANSLIM style investments with a trailing stop. I didn't read the fine print on those terailing stops and Scottrade limits them to like 3 months. So all my investments stopped out one day and I thought, great the market had a downturn and my sell orders were place. Oh contre, all my trade were executed becuase of a Scottrade imposed limitation on my trailing stops. It's a big deal to move everything to another broker and I probbaly will once I really research the finer points. Other than this, Scottrade is OK for my style of investing. But beware."
Bill Morris - Ohio, USA (Dec-2011) - Reply or add your Scottrade review
Scottrade - "Scottrade charges $10.00 a month to let you use Level 2 Quotes but it is no way unusable. I can get more accurate L2 Quotes from a free site."
Heather - Kansas, USA (Dec-2011) - Reply or add your Scottrade review
Scottrade - "Absolute nightmare. 1. Website full of bugs, freezes, and random links. 2. Trading platform WILL freeze on Normal volume trading, leaving you helpless. 3. Customer service: Answers phones with "what up" "yo" and 3 different people used profanity on the phone. Is this a business??? They disable stoploss if a stock drops >20% automatically to protect other investors. (yeah I was shocked too) Bottom line is if you want to lose money to hidden fees, incompentence, and be treated like crap by people with no business being brokers, Scottrade is your company!"
Davis - Texas, USA (Nov-2011) - Reply or add your Scottrade review
Scottrade - "I have been with Scottrade for a long time. I have never had any troubles at all. "None" Scottrade has a "New" referral code: IXFV9382 that will get you 3 free trades when you open any type of account in 2011 and 2012 year."
Lyn Corm - Kansas, USA (Oct-2011) - Reply or add your Scottrade review
Scottrade - "The best brokerage experience I have had. They are responsive to my inquiries and requests. Quick to execute not only trades but account matters."
Phillip Barber - Tennessee, USA (Sep-2011) - Reply or add your Scottrade review
Scottrade - "I have been trading with Scottrade for many years. I have recently identified a pattern of trade execution that deprives me of profits, and increases my losses. Scottrade uses marketmakers who apparently are allowed to make a profit on our trades (in addition, I presume, to a regular commission based on the number of trades they make). As one of many examples, I today put up a stock for sale at a limit price of 5.75. The bid was at arount 5.50 and the ask was at about 5.80. Within .2 seconds, the following transaction took place: 100 of my shares were bought by the market maker at 5.755, and those same 100 shares were immediately sold by the market maker for 5.781. In the process, the market maker made 2.5 cents/share on my transcation. Being only 100 shares, this was only 25 cent. However, that is 25 cents that I should have made, as there was obviously a willing buyer at more than 5.78, and a willing seller(me) 5.75 or betteer. The rule as I understand it is that a market maker must execute a trade at the best possible price. The best price available to me at that moment was obviously 7.78. So, how could the market maker take away 3 cents per share of my profit for himself? That's stealing! This goes on all the time with my transactions, and probably adds up to hundreds of thousand of dollars extra money per day for the market makers. My question is this: Scottrade is responsible for employing these market makers and knowing that we are not getting the best possible executions. And, another post on this site has informed me that Scottrade uses Knight -- a separate company of which Roger Riner (owner of Scottrade) is on the Board. This sounds like a conflict of interest to me, and a failure to provide exectuions as promised, and the way they are supposed to be done. I would like to bring an action against Scottrade and the market makers they employ for my lost profits."
Tom Grossman - California, USA (Jul-2011) - Reply or add your Scottrade review
Scottrade - "Unreliable software and computer system = lost money. How much money do you want to lose? And of course, Scottrade is not responsible for bugs in their system, no matter how much money you've lost."
John McGrew - USA (Jun-2011) - Reply or add your Scottrade review
Scottrade - "Generally speaking Scottrade is getting better all around except in one area: customer service. It completely sucks. Because they have a branch model they cannot centralize and control quality. My branch is unresponsive unless you call and call again (yet they say to fax forms in...)."
Franz Zemen - USA (May-2011) - Reply or add your Scottrade review
Scottrade - "While generally a good broker for my stock and mutual fund trades, the more esoteric things like selling short shares, certain thin traded securities, etc. were a problem. All to often you have to call your branch office for satisfaction and they come through for you. Unfortunately, for them, I found a better broker not on your listings."
Paul Hertz - California, USA (Apr-2011) - Reply or add your Scottrade review
Scottrade - "my problem with Scottrade is that I noticed that if I put a limit order in to sell or buy at a certain price it will not go through, though I will see it hit that price on yahoo google finance or cnbc rt"
Hugo - Nevada, USA (Mar-2011) - Reply or add your Scottrade review
Scottrade - "I like to trade using the Scottrade elite platform. The only thing I have trouble with sometimes is trying to sell my positions when the market turns against me. Their whole platform freezes up for some odd reason and it ends up costing me big bucks. Other than that the platform works perfectly when I'm not holding any positions. Yes, I know...I should probably just go somewhere else where these problems can be avoided altogether."
NA - Virginia, USA (Mar-2011) - Reply or add your Scottrade review
Scottrade - "After opening my account I put about $7k in right away using the electronic transfer. I then bought some stocks using most of that money after the account said I had that amount available to trade. Three days after buying the stock I get a message from Scottrade saying that the money didn't go through and that if I don't rectify it within the next two hours they will sell my stock. I wasn't able to get this message in time so they sold the stock. Also, the stock happened to go down ~3% overall in those three days so now I owe Scottrade the amount it went down. Other than that the company seems alright, although I won't be keeping my account after this experience."
Jacob Peterson - Minneapolis, USA (Jan-2011) - Reply or add your Scottrade review
Scottrade - "They were able to circumvent my account's being compromised when my records were breached. I didn't even know it was happening"
Beth Decker - Florida, USA (Sep-2010) - Reply or add your Scottrade review
Scottrade - "I have over 20 years investment experience. Over the last 3 years I have traded with TD Ameritrade, Charles Schwab, E-trade and Scotttrade. Also, I have extensive experience with brokerage firms such as Morgan Stanley, UBS Painewebber, Solomon Smith and Barney, Brown Brothers Harriman and Citigold. I do not believe there are regulations in place to protect retirement plans, IRA's or general savings. I believe "Wall Street" (a term used to describe the financial sector here and around the world) has become incredibly dishonest and unlawful. The SEC and FINRA are failing as such should be replaced by new agencies. My experience with online trading is the tail of two cities I have had great success with E-trade. Scotttrade also appears to perform well, however I do need more time to properly evaluate this company. As far as TD Ameritrade, you have no control over your account; I have had good trades backed out and I have not been able to execute certain trades. Their front page (Balance and Positions) is the weirdest thing I have ever used. They have a special rule that stymies the trader's ability to navigate their investment and they refuse to fix their problems. E-trade gives you your gain and losses immediately. TD Ameritrade porn's this data to a third party who TD disclaims they are not responsible for their data you receive. They are making incredible profits and myself and others feel their staff is ether demoralized or in denial. Schwab is worse than TD Ameritrade. This is my experience, I am not endorsing any trading house, however, please be careful with all online brokers."
Walter Uncle - Florida, USA (Mar-2010) - Reply or add your Scottrade review
Scottrade - "These guys cost me a lot of money with poor trade executions and even totally delayed order entry. There software is slower than others -- so you lose money trying to get in. Plus, no site has as many problems as this one -- goes down fairly regularly wen the market heats up.. With all the good brokers out there why try this one -- runnnnnn! I've used three or four others and rarely had a problem. Service at my local branch in the philly area was so bad, I'd avoid calling unless absolutely necessary, I was hoping calls would go to their HQ, unlike what their commercials say. They're awful!"
C O - Pennsylvania (Nov-2009) - Reply or add your Scottrade review
Scottrade - "The level 2 quotes do not correctly reflect all bid and ask prices. I placed a limit order which at a bid price and could see the volume on the bid of the level 2 quote system was less than what I was requesting. This is a common problem. Also, for Scottrade Elite users, if you pull up a Daily chart viewing 8 months of symbol ADP, you will see that on new years day 2009 the chart will repeat itself. I've called this and other data errors with their service and the problem has not been corrected. It really diminishes the confidence I have with this company."
M T - USA (Jun-2009) - Reply or add your Scottrade review
Scottrade - "I am pulling out all my money and transferring my older IRA accounts out of Scottrade due to horrible customer service at their Washington DC branch. I recently signed up for an individual account with Scottrade and used their MoneyDirect deposit method to fund my account. The MoneyDirect application timed out as I was making my deposit so I tried again (after verifying the first deposit didn't go through). Imagine my horror when the 1st "failed" deposit re-appeared after a couple of days and bounced with my bank. When I called Scottrade they were pretty nonchalant and said "It is your fault. You authorized it. We will attempt to withdraw again. You need to put a stop payment". I am totally blown away by their attitude and attempt to take my money just cuz they got my bank account details! Goodbye Scottrade!"
Frank Seth - Washington DC, USA (Apr-2009) - Reply or add your Scottrade review
Scottrade - "Last week I was holding a position overnight. I got up in the morning just before open to monitor my position. I tried to log onto to Scottrade but I couldn't get in. I tried for about 5-10 minutes and finally I got in. Meanwhile my stock has peaked and then came back down below open. In all I lost about $400. When I called Scottrade they said that somehow everything got sent to one router and it got overwhelmed. He seemed pretty casual about it. I asked him if he could make for my losses and of course he said no. I have since requested a wire transfer of my funds to my checking account. My trades have already settled but Scottrade is just sitting on my money. They take their fees pretty quick, but you need an act of congress to get them back. By the way this was Scottrade Oakland."
David Sands - California, USA (Mar-2009) - Reply or add your Scottrade review
Scottrade - "Scottrade realy is great! I did a review of all available brokers and chose them in the end. If you use this referral code you will get 3 free trades when you sign up too: LIRT8447"
JM - USA (Jan-2009) - Reply or add your Scottrade review
Scottrade - "Scottrade sent me alert that I was PDT (Pattern day trade) yesterday 1-20-1009. But, I had only one partial closed position in same day yesterday within five business days due to an understandable personal reason. Another two trades were repurchase only and should not be counted as day trades at all and Scottrade admitted that today 1-21-2009. Therefore, just one trade and now they still insisted on their restriction on my account and asked me to put more fund into my Scottrade account. SEC-NYSE 2001 rule 431: 1. The term "pattern day-trader" is defined as any customer who executes four or more day trades within five business days. 2. The minimum equity requirement for pattern day traders is $25,000. 3. The amendments redefine the term "day trading" to treat the sale of an existing position held from the previous day as a liquidation, and the subsequent repurchase of that position as the establishment of a new position not subject to day trading margin requirements. There were another same alert in November 2008 after I had pulled fund and left only little above $25,000 in my account, and in that time they included those trades when my account was still above $25,000 and also included my repurchase that should not be counted as day trades. Scottrade branch staff insisted that "repurchase" must be counted as day trades and I must put more fund back into my account. I didn't check SEC-NYSE rule 431 at that time and I just added more fund into my account. Now, with only one partial trade on the same day with a particular personal reason, they put on restrictions on my account immediately even without 1 week waiting fund adding time like in November, and just asked for more fund. Now they claimed that this is due to my previous PDT alert in November, which should not exist neither if they really follow SEC-NYSE 431 rules. With these two (faked?) PDT alerts, I start to doubt that Scottrade might just try to collect more cash fund from their customers in current credit freezing financial environment. When market went unstable, I have started to pull out profit and fund from Scottrade since last October. I don't know if this is the way they are trying to force me to put fund back into my Scottrade account, and rule 431 has just become their excuse only. But, they definitely should never do this. I will look for some other better and fair brokers. And I don't know if SEC should look into this matter."
Nick Cheng - USA (Jan-2009) - Reply or add your Scottrade review
Scottrade - "Scottrade is absolutely fantastic in everything that they do. All of their 2006 and 2007 bugs have been fixed. Ignore the trash on this page about problems. That's old news. Use my ReferALL code QGUA9639 to get three free trades when you sign up for a new account."
Todd - USA (Jan-2009) - Reply or add your Scottrade review
Scottrade - "However, every Friday's scottradeElite weekly chart did not reflect the real time weekly open high low close prices. Will mislead investment. Called and eMail many many time, but they did not fix the problem"
Yeh - USA (Jan-2009) - Reply or add your Scottrade review
Scottrade - "Scottrade has always been there when I needed a question answered and help doing any online trading. I am very pleased with their service."
Helen Haiduck - Deleware (Dec-2008) - Reply or add your Scottrade review
Scottrade - "Scottrade and Scottrade elite down AGAIN 830AM"
Michael Knight - USA (Dec-2007) - Reply or add your Scottrade review
Scottrade - "A lot of the issues I read here appear non-existent for me. I opened the account in August, and I've never had any server issues, and I trade from open to close. If it's anything, please consider a stronger laptop/internet connection. It will reap beautiful dividends and less headache. $7 trade not bad, but starting to consider Interactive Brokers or TradeKing lately. My only worry is the execution being worse with TradeKing than Scottrade."
J P - Arizona, USA (Nov-2007) - Reply or add your Scottrade review
Scottrade - "I had been with Scottrade little more than a year, overall excellent except Firefox browser often freeze and hung application on Scottrade site but MS Explore never crash."
Hy Joe - New York, USA (Oct-2007) - Reply or add your Scottrade review
Scottrade - "Dump scottrade...before they get caught in legal trouble ....8/31 they invoked a untested system change that caused system wide margin calls, 99% were false..at risk scottrade liable for millions...idiots"
Bill - Arizona, USA (Sep-2007) - Reply or add your Scottrade review
Scottrade - " Jason W from CA - are you really complaining about credit interest on less than $10k? If you always have small amounts of money uninvested, than why not put it in a high yield account? Scottrade is a BROKERAGE firm...they do great for stocks, bonds, mut funds, CDs...take your tiny cash balance and put it elsewhere...you obviously don't trade stocks with it, so why leave it at Scottrade anyways? You people make no sense sometimes."
Michael Thomas - Rhode Island, USA (Aug-2007) - Reply or add your Scottrade review
Scottrade - "I've been with Scottrade for about 3 years, and I've had flawless service from them. If you call, a human will answer within 2 minutes every time. One on occasion, I was absolutely strapped for cash and a broker helped me liquidate my account and get a wire transfer to my bank without any fees or charges beyond trading costs. If that's not superior service, I don't know what is. I recommend this broker for buy/and/hold trading, since their realtime tools might not be as fast as needed for day trading. My only complaint about Scottrade would be that I'm having trouble getting my account enabled for options. Short-selling was easy, but options seem to be off limits for some reason."
Guy Bluesummers - Pennsylvania, USA (Jul-2007) - Reply or add your Scottrade review
Scottrade - "Have been with Scottrade for a year with a large account. Excellent personal customer service and no concerns with trade execution."
Matthew Bowen - Virginia, USA (Jul-2007) - Reply or add your Scottrade review
Scottrade - "Scottrade has been great. Local offices, $7 trades...no problems here. To respond to the other comments...If you have enough money ($25k) to use Elite, than why can't you afford high speed internet? It's not Elite's problem your computer can't handle the tools required by a speedy internet connection. Spend the extra $10/month and get DSL at least also, Scottrade gives you 3% on uninvested money for $10k to $24,999. If you tend to leave money uninvested long enough for the interest rate to matter that much, put it in a CD. Considering you are taxed on that interest, a few bucks a year isn't really gonna make a difference. If you want an extra percent on your money, move it to a high yield savings account."
Michael Thompson - New York, USA (Jul-2007) - Reply or add your Scottrade review
Scottrade - "The trading platform Scottrade Elite has recently begun failing on a dial up line. My response time for a chart, graph, or trade can be 5 minutes or longer. It was good up until a few months ago (3/07). I have had to move to Schwab. Their cyber trader is great!"
Linda Leven - New York, USA (Jun-2007) - Reply or add your Scottrade review
Scottrade - "Scottrade has just lowered the interest rates they pay you for loose cash you have hanging around. Whereas before, a balance of $2,000 would earn 2.25%, which was hardly competitive but at least gives around $5 per month. Now they've cut it to 0.49%. You need $25,000 in cash just to get a frigging 3% rate! I am seriously considering switching online brokers. I am a buy-and-hold, long-term investor, buying blue-chips such as GE and Disney, and up-and-comers such as Google and Apple. I usually have a few grand sitting around for 6 months, waiting for the next major dip. $50 may not seem like much, but it certainly adds up. Paying out near-zero interest is a cheap move, nickel-and-diming the very investors ScotTrade claims to target. If you have $500,000 in your account, are you really going to care about Scottrade's advantages? But if you have $10,000 total, then $100 in lost interest results in a 1% difference in return. For me, this 1% over 30 years adds up...and getting an extra 1% return is exactly why I gave up my full-service broker for ScotTrade in the first place. I've used ScotTrade for over 3 years, and have had very few complaints. But now it's just not looking like a good deal. Are there any better brokers out there??"
Jason W - California, USA (Jun-2007) - Reply or add your Scottrade review
Scottrade - "I use Scottrade for a Dogs of the Dow account (i.e. once a year, 10 trades) -- so not much. But I'm pleased with them. Like others have said, their website has not infrequent problems - but they allow you to deal with their local branches by phone too. This is a nice deal for a cheap online brokerage. They're website is not quite as nice as BrownCo (down defunct) and e-Trade, but good enough for the lowest rates of any brokerage!!"
Mark Criswell - Washington, USA (May-2007) - Reply or add your Scottrade review
Scottrade - "I inherited quite a bit of stock and am receiving stock certificates in the mail. I decided to open an account at Scottrade because they have local branches I could deliver the stock to instead of sending signed certificates in the mail. I took the certificates on April 13th and signed and gave them to the person who waited on me. He told me to look at my account in about 5 business days and I'd see the stock. When the account was still not showing the stock 11 days later, I called customer service. The branch manager says the stock certificates were lost in their St. Louis office. St. Louis says they never made it there. The manager says they sent me paperwork to fill out and I should have had it last week, but they sent it US mail and not Fedex. I asked if I could come to the office and sign it and he says they don't have the paperwork there. Meanwhile the market is peaking and I don't want to take my new certificates to them and I want to liquidate my stock while the market is high. No one seems to care that they lost my signed stock certificates."
Meg Rooney - Georgia, USA (Apr-2007) - Reply or add your Scottrade review
Scottrade - "Just wondering, what are you paying for mutual fund transactions at your new broker?"
Jim D - Oklahoma, USA (Dec-2006) - Reply or add your Scottrade review
Scottrade - "Cost and execution is great, hate the site and tools. Shopping for a new broker."
Sutherland - Washington, USA (Dec-2006) - Reply or add your Scottrade review
Scottrade - "My son is fighting with the IRA over a tax report Scottrade sent them. It appears they showed a gain when it was actually a loss of a few thousand dollars. Now the IRS is saying he owes 3,000 dollars from the Scottrade report gain tax. It appears someone marked it posItive instead of negative. What a mess. Phone call to Scottrade resulted in the person on the line for Scottrade saying if anything, he should have a refund coming. Try to get the IRS to understand that after it has been reported as a profit. Scottrade has been no help at all in this mess they created. "
Cheryl - North Carolina, USA (Nov-2006) - Reply or add your Scottrade review
Scottrade - "I hate Scottrade with a capital H. Everything is just bad. From the incompetent brokers to the horrible executions! Trust me go to TD Ameritrade and you will thank me."
Kevin Martin - Georgia, USA (Oct-2006) - Reply or add your Scottrade review
Scottrade - "Through my brief 5 yrs of trading - Scottrade has been exasperating in terms of keeping their servers up, running, and available. (Note, however, I am still there.) They need at least one additional hardware expert and one additional senior programmer in their central offices. My active, not rapid, trading style is mildly disrupted by the very frequent general site failures. But, these problems are, no doubt, horrendous interference for rapid or "day" trading styles. But, they do not invite, or encourage, rapid or "day" trading, and they do seem to be trying to debug their software. ("Hope springs eternal--"). Scottrade upper management must take the blame for losing their web site far too often, and for tolerating obvious flaws in their software; however, it is really unfair to blame them for many of the complaints you present. Many sound a bit like the results of unsuccessful decisions (especially "timing"!) by inexperienced, unlucky, or insufficiently schooled traders. Scottrade makes a point of not offering guidance. They should not(!) since their local offices seem to suffer an extremely rapid turnover of phone-assisting personnel - albeit led by a more permanent broker experienced in the use of their system. Their best value is not in their speed, nor in their low transaction fees (real), but rather in the access they offer to A)legitimate, otherwise very expensive, information: Dow Jones, S&P, etc.; B) very close to real time trade streams, and C) to extensive charting possibilities. One additional, very meaningful, point - because they are both readily available and inexpensive, I've had the not previously available opportunity to access the 'market', not only to exercise my understandings and efforts to increase my own resources dramatically, but also to launch and to improve the future plans and hopes of several younger persons in my family (currently ~10 accts.) That being the case, as long as they appear to be working on improvement of their support for the small investor (that's me and, probably, lots of others), and as long as they avoid hiding costs and limits in their dealing with me (several brokerage houses go out of their way to hide alternative prices, and what triggers them!), it's easy to tolerate their imperfections. I actually appreciate them."
K. Irwin Keating - New Jersey, USA (Sep-2006) - Reply or add your Scottrade review
Scottrade - "Hey moron, they hold your check for 10 days because it's a new account and they don't know who you are. Certified checks can be forged too! Are you so stupid that you think it not possible for someone to counterfeit a certified check? Let me guess you were in a hurry to by SIRI because your a financial wiz. You sir are an idiot."
Tim - Pennsylvania, USA (Sep-2006) - Reply or add your Scottrade review
Scottrade - "It seems that management hasn't taken the Scottrade website seriously b/c of problems I've seen such as broken links, inaccurate account information and general lack of functionality. I'm extremely surprised that a financial institution has failed to implement an online deposit function 9 months after they took it off (was told it would be available at the end of summer). It's obvious that management hasn't applied the necessary resources towards managing and maintaining the site. What does this tell you about them managing your money?"
J R - New York, USA (Jul-2006) - Reply or add your Scottrade review
Scottrade - "After reading all the comments from Pa residents I agree and give Scottrade the highest recommendation. Could your service depend on the office you deal with?"
Donald Thomas - Pennsylvania, USA (Jun-2006) - Reply or add your Scottrade review
Scottrade - "Charlie is a moron. First off, Nite not Knight. Yes, Rodger is on the board but they do not route to nite every time. You need some education. Check out the order execution system at Scottrade .com."
Jason - Wisconsin, USA (Jun-2006) - Reply or add your Scottrade review
Scottrade - "Using Scottrade (especially streaming data like in Elite) in a busy market is an experience in frustration. They have inadequate capacity planning for networks and servers. If you don't have stop losses in and the market crashes, you might as well forget about your money."
Wray Smallwood - Florida, USA (May-2006) - Reply or add your Scottrade review
Scottrade - "Scottrade is the 2nd best decision I have made investing. The first was leaving my full service broker."
Lee - Georgia, USA (May-2006) - Reply or add your Scottrade review
Scottrade - "Read an article stating to use Scottrade only if do a few trades each month but if trading more often, not to use Scottrade as you would loose money. Stated Scottrade did not handle their on traces."
Coalson - Florida, USA (May-2006) - Reply or add your Scottrade review
Scottrade - "Scottrade is the best online broker, period. It is very inexpensive, and I can call and talk to the same office/brokers every time I call. No automated recordings, just real people, who will do whatever it takes to help me out and answer my questions. If you haven't given them a try, you are definitely missing out."
Mike - Iowa, USA (May-2006) - Reply or add your Scottrade review
Scottrade - "Their web site is really really messed up. Especially when you want to place a crucial trade. The web site will not respond or will be down or be slow as molasses. I will not recommend this to any one"
Tom - Ohio, USA (Mar-2006) - Reply or add your Scottrade review
Scottrade - "Apple computer users beware. I built up my account and qualified for their Scottrade Elite account, but when tried to download the software for this account, suddenly I notice that their Elite account software works on PC only. Frankly, that is a little deceptive. It should be clearly stated that you need 25000 dollars in your account and a PC to qualify to use their Elite software, not discovered later. Also, their streaming quotes locks very often on my Apple computer because it is basically designed for PC and optimized for Internet Explorer. Also, going to their office to deposit money each time is lame. Their on line service of depositing money online has been taken away. All of these issues can be corrected and a good company would do it fast. Let us see if Scottrade would do that. I doubt it."
R. H. - California, USA (Feb-2006) - Reply or add your Scottrade review
Scottrade - "I have been using Scottrade for about 6 months. Have been happy so far, trades have been executed promptly, and they were able to answer all my questions. Unless something changes will stay with Scottrade."
Calvin Gooch - USA (Feb-2006) - Reply or add your Scottrade review
Scottrade - "System was down all day and keep losing money, the broker put wrong order for my stock and never correct 'til Sunday. Scottrade trade sucks and I keep loosing money... worst customer support I have ever seen in the trading."
Stock - California, USA (Feb-2006) - Reply or add your Scottrade review
Scottrade - "They have performed flawlessly as promised; all info accurate and timely. Local branch perfectly cooperative and investor friendly. $7 flat rate commission on all market and limit/stop orders."
Don Eylat - Virginia, USA (Jan-2006) - Reply or add your Scottrade review
Scottrade - "I started an account with Scottrade ten years ago to invest money from my son's college account. I've looked at other brokers (such as Buy & Hold back before it became a subscription service) and I've not had any reason to switch. Scottrade is just what I want: a no-frills, easy-to-use online broker with low fees and no inactivity fee and no one calling me up saying, "Buy this! Buy that!" Months or even a couple years may pass between our trades, and no extra fees apply. Frequent traders and people who obsess about buying now this minute as some stock or another rises may want a different service. For infrequent buy-and-hold traders who don't want or need a broker advice, Scottrade works just fine."
Karen Bledsoe - USA (Jan-2006) - Reply or add your Scottrade review
Scottrade - "You couldn't be more wrong. When a brokerage firm sells you a mutual fund they are taking over the records keeping and tax reporting. That is something the fund company would normally have to do but now it's in the brokers hands. Fund companies used to reimburse brokerage firms for this service but fewer and fewer do so now. It is a business and in order to keep afloat Scottrade must pass the cost onto the customer. What do you expect when there is no quarterly fee or annual fee and a low commission cost?"
Ron - Pennsylvania, USA (Jan-2006) - Reply or add your Scottrade review
Scottrade - "Bill, if the change in site is a problem for you what do you expect with a new broker? Do you think E-Trade will offer you the old Scottrade website? Besides you only pay $7 a trade and no fees, try finding a better deal else where and don't go with BrownCo as they are becoming a part of E-Trade. From where I'm sitting you don't have much to complain about so stop being a baby and move on. Things change, websites get updated, go with it or get left behind you dinosaur."
Jon Byrnes - Pennsylvania, USA (Jan-2006) - Reply or add your Scottrade review
Scottrade - "Please help me understand what you mean when you say "the prints are going off on the buy?" I use Scottrade and it is interesting, and occasionally frustrating, on the order fills. Sometimes the orders are executed excellently, other times, I see orders executed at my bid, however, my order is not executed. Usually these anomalies occur with thinly traded securities."
Lew Holt - Indiana, USA (Jan-2006) - Reply or add your Scottrade review
Scottrade - "I used to like Scottrade but I do more options now and they don't do options and I have found execution is not good. I traded the same stock on both Scottrade and E-Trade and got faster trades (2 days faster on GTC orders) and better price ($.75 on a stop order) with E-Trade."
Dave - Washington, USA (Dec-2005) - Reply or add your Scottrade review
Scottrade - "Wonderful. Extrtemely reasonable commissions."
Thomas Crow - Massachusetts, USA (Dec-2005) - Reply or add your Scottrade review
Scottrade - "Fortunately, I've not had any issues with my current broker. Though I wish, the spread would be a lot leaner. But they are prompt, and have provided plenty of features such as streaming quotes, IPO listing, gainskeeper, alerts, market research, etc. free of charge."
Bipin Noble - Maryland, USA (Dec-2005) - Reply or add your Scottrade review
Scottrade - "Great support. Fast trades. Good prices. Probably not a pick for options broker though. Never a problem."
Mark Barrack - Illinois, USA (Nov-2005) - Reply or add your Scottrade review
Scottrade - "I have been pretty happy with Scottrade's assistance and vision for the personal investor. Immediacy is very important because I am dealing with mostly short puts and can loose a lot of money in a hurry. Scottrade's tools help me predict how long market outlook will remain neutral and when volatility outlook may begin to fall. So far, so good."
Philip Warbasse - California, USA (Sep-2005) - Reply or add your Scottrade review
Scottrade - "Intensely unhappy with the new Scottrade trading system. The old system much better but they have also modified it so that it doesn't perform like it used to. I'm about ready to drop Scottrade & pick up a 3rd Broker."
Bill DeKeyser - Nevada, USA (Sep-2005) - Reply or add your Scottrade review
Scottrade - "Answer to Otto Vanburen - Nevada, USA (Dec-2004) when he wrote: Spyware will make both your computer and internet access slow down more and more until both are barely functional- if at all. An 'Apple computer' a day keeps spyware at bay."
Rudy Franklin - USA (Aug-2005) - Reply or add your Scottrade review
Scottrade - "I am currently transferring most of my assets from my Scottrade account (to Fidelity) which I've had for about two years. My main complaint is that beginning January 2005, they started charging fees (with little if any notice) to buy and sell many mutual funds that were previously free. This included many funds that I had previously purchased. Even currently, more fund families are being dropped from their NTF system."
David Becker - California, USA (Aug-2005) - Reply or add your Scottrade review
Scottrade - "I see the comments stating that Scotttrade has cheap and fast service. If you trade occasionally, I can see how one might get this impression. My experience has been dramatically different and bad, in several areas: 1 Execution platform. Many mornings when I try to log on to the Scottrade servers they are either not working or after logging on they fail at the worst time, when the market opens. Frequently I get the message "trading not available" or "modification is off" from the system. Then when I call to have a broker execute the trade, they are either unavailable (because everyone else is calling in) or they can't even get to their own back office. 2 I was frequently puzzled about a strange execution pattern. On limit orders of several thousand shares, 100 shares would execute immediately at my bid, then the market would back the ask away from me and my order would sit there for minutes causing me to either bump my bid by several cents to get it off or go to a market order (which would fill several cents against me). I couldn't figure this out until I discovered several weeks ago that Scottrade doesn't even execute their own trades! They sell 100% of their order stream to Knight, which makes a profit on "handling" the stream and then shares the profit they made on the client's trade with Roger Riney. Roger happens to be on the board of directors of Knight. Bottom line is if a better broker that does not sell it's order stream charges a penny a share, it is a better proposition than losing 1,2,3,5 or more pennies per share. 3 Scottrade continued to overcharge me for limit orders, after they instituted same price for market or limit orders. 4 When selling a stock short, the broker must obtain the shares to short them "if they are available" you might notice that many stocks are not available to be shorted from Scottrade. This is because they sell their order stream to Knight and do not have a direct relationship to the market makers who must make them available. I have frequently been in the middle of a short trade and either cannot short more shares or am told that my short must be closed out because the shares are no longer available. Bottom line. If you are a 401 account trader and only need to do a few buys and sells per month on a cash account and don't mind giving away a few cents of each trade, Scottrade is the place for you. If you count on your trading to make you money regularly and want to pay a true discount fee with a broker that actually trades your shares with the exchange go somewhere else."
Charlie - Virginia, USA (Aug-2005) - Reply or add your Scottrade review
Scottrade - "Scottrade is a no, even less than no, frills. They offer nothing and execute correctly. You want advice? Only a full service brokerage should be willing to provide full service. Fortunately you get what you pay for at Scottrade. Caveat emptor."
Mary Dias - California, USA (Aug-2005) - Reply or add your Scottrade review
Scottrade - "I've been using Scottrade but I've noticed that sometimes selling short orders take forever to get executed if at all. Anyone else experience this?"
Jonas Eklund - USA (Aug-2005) - Reply or add your Scottrade review
Scottrade - "Scottrade's option quote system is terrible and unreliable. I have matched their quotes with OptionsXpress, BrownCo and Fidelity. Scottrade's option quotes are totally random."
Yogesh Jain - USA (Jul-2005) - Reply or add your Scottrade review
Scottrade - "Scottrade killed me last week. When Google announced, initially it went to up to 320! But Scottrade doesn't allow A/H until 4:15! I lost a fortune. They also don't have pre-market where GOOG was at 310 the next morning before opening at 306. I'm so out. Gonna switch to Fidelity. They may be more expensive, but that one trade alone would have saved me thousands."
Matt Barry - California, USA (Jul-2005) - Reply or add your Scottrade review
Scottrade - "I have very good experience with this company. Trades are easy, confirmations are e-mailed immediately, and I can call them any time when I don't understand how to do something on the internet or how I will be charged. They are very upbeat and willing to help in any way possible, then I just go to the internet and do my $7 trade. When cash is in the account at the end of the month, there is a small interest paid. When I request a check from them, it is mailed the next day and I get it the next. I can't imagine anything easier or cheaper. My brokers want to charge high fees and argue with me about what I am buying. I even have IRA accounts with Scottrade."
Delores Sonnenberg - Texas, USA (Jul-2005) - Reply or add your Scottrade review
Scottrade - "You are so right. They are very helpful and give very good service, but no recommendations."
J V Alexander - North Carolina, USA (Jul-2005) - Reply or add your Scottrade review
Scottrade - "The phrase "you get what you pay for" doesn't apply to Scottrade. You get more for your money, just like their slogan says. Great user interface, great customer service (sent in application on a Friday, Scottrade rep called me first thing Monday then received info in mail by Wednesday, so got account up and running in a grand total of about 5 days). Haven't executed a trade yet, but I'm sure execution will be great. Some on here have bashed Scottrade, I don't know why; it's great."
Matt Cline - Tennessee, USA (Jun-2005) - Reply or add your Scottrade review
Scottrade - "I'm equally annoyed with the introduction of the $17 charges for most funds. I'm convinced that it's the old bait and switch routine. They're popular, have lured us all in, and now are planning on taking our money from us. After three years of contentment, I'm thinking about taking my money elsewhere."
K. G. - Belgium (Jun-2005) - Reply or add your Scottrade review
Scottrade - "The Scottrade Albany, NY offices have incredible service. I am so impressed with Scottrade. I never had to wait longer then 60 seconds anytime I called the main Scottrade number anytime I had a question. Scottrade's website is very easy to navigate compared to other online brokers. I will stick with Scottrade for a long time to come."
P.H. - New York, USA (Jun-2005) - Reply or add your Scottrade review
Scottrade - "I had 2 separate trading accounts. I just switched my other account which also had my Roth IRA to Scottrade. What can I say? $7 trade trades mkt or limit. Great trading platform with instant info on all your trades, positions, balances etc. Plus a local office which is very prompt and informative. Sent my forms in to transfer my other accounts to them & a Scottrade rep gave me a call the same day they received them. I'm very impressed! If you know what you want....Why pay more? Scottrade will take care of the rest."
Craig E. Pawling - Pennsylvania, USA (May-2005) - Reply or add your Scottrade review
Scottrade - "Of course they fill market orders fast, because they make money on the spread. They are not good for active day traders because they do not fill orders on the buy price. They wait until your buy becomes the ask, and the prints are going off on the buy, then they can make the spread and only then will they fill your order. They're fine for long-term investors, but they suck for day traders."
Greg Kuhn - Missouri, USA (May-2005) - Reply or add your Scottrade review
Scottrade - "Trades are done at once. Only problem: Monthly statements are generally more than a week to post on the net. They have been extremely accurate and do not bug me."
Thomas Crow - Massachusetts, USA (Apr-2005) - Reply or add your Scottrade review
Scottrade - "I could tell that Scottrade would do their best to hang onto your money when I signed up, but with rates that low I can't complain much. When I get my balance up I will probably switch to a different broker. (That will be a while) An appealing part of Ameritrade is that you can take your money out within 3 business days. Perhaps you should have put it into a bank account before taking it across water. Even then you would have had to wait for the check to come in the mail. All in all Scottrade is a bit behind the times but I've been happy with my limited experience with them."
Mark von Germeten - Utah, USA (Apr-2005) - Reply or add your Scottrade review
Scottrade - "I'm very impressed with the great professional service provided to me by the Albany, New York office. I recently rolled over my New York State deferred compensation account into a self-directed Scottrade IRA. The rollover was efficiently done and the trades made have been handled accurately and at lightning speed. I would recommend this brokerage to any retired New York State employees who want to put their deferred comp funds to work to make some serious money. And they won't send you a nasty letter accusing you of being a market timer!"
Bill Heenan - New York, USA (Apr-2005) - | | |
