Scottrade Is TheBest Online Stock Trading Website For New Investors
Scottrade is an online brokerage founded about 30 years ago has been on the web since 1996. The unique selling point of Scottrade is it seven dollar trades which is about three dollars lower than the big guys at E*Trade and Ameritrade. The lefties are lower you do not miss out on good quality data, excellent research, and very good customer service with Scottrade. They even have physical locations. Scottrade prides itself on its personal service and customers interested in the ability to trade online or great one method locations and make an appointment investment broker can do either or both once they have the Scottrade account. In fact, if you call the helpline for the website during working hours to get through to your local branch and will be able to talk to your local investment adviser and from there possibly make an appointment can see. These physical locations also offer seminars and classes on stock trading which can holders have said become very useful.Scottrade is slightly skewed towards new investors. They put a lot of emphasis on to learning, research, and educational tools within their trading platform and website. This, along with the seminars at the physical locations and the low trade figures, make Scottrade possibly the best choice for an online stock trading website the beginner investors. On their online trading they have SmartText tool which provides Lehman explanations for each stock. The downside of this is that if you are a more experienced investor you may find Scottrade’s tools a bit simplistic and want more for your money.
Though the stock trades are low, with fees of seven dollars per trade, their options tributes are more expensive than their rivals, with that seven dollars per trade being augmented by $1.25 charge per contract for options trades. The minimum deposit to open an account with Scottrade is $500 which is in line with most of these and other discount online brokerage firms. Once you have signed up though and put capital into your account, the research, data, and platforms are all free. Scottrade do run promotion they not as extensively some of the other brokers. You can get free trends to use up to 6 months depending on how much capital you invest. Though the minimum is $500 if you invest more you can get commission fee trades for every extra thousand dollars deposit. The minimum for this promotion is $10,000 which will give you 10 free trades, and the maximum is $250,000. But with the trades being low cost in the first place, these promotion are not so necessary on a site such as Scottrade.When you open a Scottrade account you will have access to free online market research, reports, analysis, and upgrades and downgrades or categorised by sector and industry. This free research does not include access to premium research, whereas rivals such as Ameritrade do, though again with Scottrade you are paying a lower fee to start with so you cannot expect such good quality research and perks. Through their physical locations, they offer a wide range of advice for different types of investments. Their investment advisers are happy to sit down with you no matter what size your investment is and no matter whether you came in by their location or are an online customer. At these locations team members help you learn how to use the trading tools online and all about different investing products. You can also attend seminars and classes on the stock market and investing in general customer service is available by these locations or via phone or online 24/7. They also run an online community where you can ask questions of the other investors and get help on your investments. As with any other time you gets advice from non-regulated people, I suggest caution. It is not unknown for people to join leaves online communities only to pump their own stocks or stocks that they have been paid to promote.
The trading platform that Scottrade uses will meet the needs of most traders, but is rather basic compared with some of the other online brokerage firms. If you are a more experienced investor, you might find at least trading tools are not suitable for your type of investments and therefore you should consider one of the more expensive brokerage firms. But these platforms still offer real-time trading and streaming quotes, along with charts and watch lists and more advanced tools. However, if you do make a more sizeable investment in your account you may be eligible for more advanced trading tools. If you have over $25,000 in your primary you can get advanced tools such as advanced charting and their streaming quotes platform.Overall, Scottrade is an online trader that is most suitable for beginners with its low fees per trade and emphasis on learning trading.