Scottrade
Scottrade is an online brokerage firm that provides a platform for self-directed investing. It allows users to trade stocks, ETFs, mutual funds, bonds, and options with low trading fees.
stocks
etfs
mutual-funds
bonds
options
trading
investing
Scottrade: Self-Directed Online Brokerage Platform
Scottrade offers a platform for self-directed investing, allowing users to trade various financial instruments at competitive rates.
What is Scottrade?
Scottrade is an online discount broker that provides a trading platform and tools for self-directed investors to buy and sell stocks, ETFs, options, mutual funds, and fixed income investments. Founded in 1980 and headquartered in St. Louis, Missouri, Scottrade pioneered the concept of discounted commissions in the online brokerage industry.
Some key features of Scottrade include:
- Low stock, ETF, and options trade commissions starting at $6.95 per online trade
- Access to online trading, mobile apps, research tools, and market data
- Availability of retirement accounts like IRAs as well as banking products through Scottrade Bank
- Branch office locations across the country offering localized investment guidance
- Customer support via live chat, email, phone, and in-person at local branches
- Education for new investors including webinars, seminars, and a large library of trader education resources
Scottrade competes with other discount brokers like E*TRADE, TD Ameritrade, and Charles Schwab as well as robo advisors like Betterment and Wealthfront. In 2017, Scottrade was acquired by TD Ameritrade.
Scottrade Features
Features
- Online trading platform
- Low trading commissions
- Access to stocks, ETFs, mutual funds, bonds, options
- Research tools and market data
- Mobile and desktop apps
- Banking services like checking accounts
Pricing
- Subscription-Based
- Pay-As-You-Go
Pros
Low trading commissions
User-friendly trading platforms
Good customer service
Wide range of tradable securities
Educational resources for new investors
Cons
Limited international trading
Less research tools than some competitors
Website can be slow during high trading volume
No futures, forex, or crypto trading
Official Links
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