Scottrade Review: The Most Satisfied Online Investment Service

Scottrade Review #1: Company Background

With millions of clients all over the world and with a staff that number to thousands, Scottrade is considered one of the largest online stock brokers. This is the stuff that makes the company a legend, considering that it only started to go on providing online stock trading barely 12 years ago.

Its headquarter is in St. Louis, Missouri, and its main bulk of business is into discount retail brokerage. The company's 360 branches in America enable people to get the help and advise that they need at a time that they are in most need of them.

Scottrade Review #2: Strengths

First off, it has earned its niche by being a company that mean business.

While other companies put their reputation on research and real-time releases for clients, it does not provide much of this service. It eliminates handholding, simplifying trading schemes to come out simple, manageable, and stress-free. On the other hand, J.D. Power and Associates has ranked it first in investor satisfaction with online investing services.

The company has earned the title seven times in a row.

The advantages of joining Scottrade includes: no inactivity or maintenance fees, low account minimum, and inexpensive trading commissions. Firms like ETrade and Schwab exact penalties on inactive accounts, as well those accounts that fall way below the set minimum. Commission fees stand in $7 flat rate. This means that no matter how limited your orders will be in a day or quarter, you will not drown in so many extra fees on the side. And the account minimum of $500 is an absolute attraction. 

To serve its clients better, it divides its customer accounts into three: Scottrade.com, scottrader, and scottradeEllite. Each account is tailored to people of particular demands and expectations from their trading, as well as the diversity they want their portfolios to have.
Reportedly, scottradeEllite combines the best features of affordable trading package and real-time streaming on stock data and quotes.

Scottrade Review #3: Weaknesses

While Scottrade is reputed to have made online stock trading simple and inexpensive, it has also brought in disadvantages to the industry. For one, its customer service in providing real-time stock information in lower trading accounts is not something to expect too much from.

Its biggest strength, that is to empower investors by leaving them on their wits with little in-house help, is also its worst weakness. Secondly, the company is also not too much keen in improving this aspect of the business. Or, one may opt to enable this service upon registration of a higher account, which in this case would demand stiffer and more expensive policies.

Scottrade Review #4: Verdict

Scottrade is the company to go for to someone with small startup funds, but who nonetheless is looking for a trade earning optimum value for money. Its many services are designed for people who need no elaborate guidance and trading advisory. Indeed, it is appropriate for people who would rather choose to be alone, and work dictated by their personal and instinctive trading expertise.

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