Discount stock brokerages

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Please read my disclosure page for more info. You have cheaper brokerages that offer little service and are only a means to place stock trades on one end and you have larger brokerages on the other end that offer a full range of services including possible advisory services.

Scottrade is in the middle of those two extremes and provides a solid trading platform at an excellent value. Scottrade first started in and has since grown into a branch network of over branches nationwide. Power as one of the best online brokerages to do business with. If you look at the spectrum of major online brokerages out there, the commission at Scottrade is definitely on the more competitive end and a good value.

While not for everyone, options can be a great tool to diversify your investing strategy. The commission price is very competitive in light of other brokerages, especially when you take the value you receive into consideration. My experience with Scottrade has been good overall.

They have over branches and the times I have visited our local branch the staff has been very helpful. On top of this they offer an instant chat feature on their website that not all online brokerages do. I have used this feature numerous times and has been a great way to get my questions answered without needing to call in to their call center.

In addition to being able to invest in stocks, Scottrade offers many other options including fixed income, mutual funds, banking products, Treasuries and more. They offer more than 14, mutual fund options of which over 3, do not carry a transaction fee — which is more than any other online brokerage.

That does not have to be the case if you invest with Scottrade as they have access to a majority of the fund families in the space. Research and Trading Tools: No Dividend Reinvestment Program: Many investors that have dividend paying stocks like to have them reinvested to buy additional shares of stock. For some reason Scottrade does not offer this, though there are rumors they might in the future.

If you do want to reinvest the dividends you then need to pay a commission to buy the additional shares. This does not allow you to reinvest into partial shares, but pools cash from dividends to buy additional shares of up to five eligible securities at a time. There is no commission charge for this at all. They allow you to pick specific stocks to have dividends reinvested towards, which I think is a great feature.

I love that they have added this as I invest in several high dividend paying stocks through Scottrade and it allows me to add more to the given holdings as opposed to having the cash sit there doing nothing. Having taken part in the FRIP over the past two years now, it has been a great addition to their offerings.

I believe for the right person, Scottrade can be a great fit for their investing needs as they offer value, great customer service and solid investing tools. As I pointed out in the beginning, there are a lot of online brokerages to consider and believe that Scottrade holds their own against the best. If you do choose to open a Scottrade account, keep an eye out for promotions as they have several to consider.

Back in college, my best friend opened up a Scottrade account.

I think they have added quite a few. Knowing what other brokerages offer, they are definitely on the higher end of no-fee offerings. I used to use Scottrade but switched to Fidelity since all my work stuff is set up through them.

Having everything in one location does definitely save the time and I have heard some very good things about Fidelity. I have several online accounts and helped my wife start an IRA with Scottrade a few years ago. Overall I like them and place them pretty high on list of online accounts. That said, I would put Scottrade up there as well. They have some good tools and have stuff both for the novice as well as the experienced investor.

Thanks for the in-depth review here, John. Not a problem Laurie, thank you!

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Many of the brokerages just want to sell to you and not give you a solid salem virginia stocked market of what they offer versus the others. I would agree Joe, that it is very intuitive and user friendly. Thanks for the review.

One of my goals for this year is to identify a second brokerage, and this gives me a nice idea of ScottTrade. Not a problem MFIJ!

I agree, the limited options availability was a turnoff to m at first. I have started doing a bit more of that myself and really like it. So, I opened an Options House account for my Rollover and can do spread level trading in it. It helps me get around that and would have probably had two brokerages anyway so I could trade if one system were down. I have anzac day trading hours 2016 qld looking at Scottrade for some time and this might have just pushed me over the fence.

I agree, I saw that I was going against you and wished it were not so. I would not mind losing to you at all either. Hi John, Thanks for providing this information. I have only used Ameritrade which was later bought out to form TDAmeritrade. I thought about switching to Scottrade when I had the funds to invest because they were slightly cheaper than what I was paying but I was wondering if the tools would be the same, better or worse.

I have no experience with Scottrade, can anyone weigh in on how it stacks up against Optionshouse? I have an account with them as well and will be doing a review on them next month. They have much different offerings and is not for everyone. I like the price and the fact that I can do more advanced options trading with it. For us, our Scottrade account is more of our buy and hold for long term place and OH is where I do more of our trading.

Thanks for stopping by Dave! To my knowledge, Scottrade does not charge an inactivity fee. Those that do generally hide it pretty well, but have seen nothing from Scottrade. I have never personally had an account with them, but have had a lot of experience with their platform and tools. Their biggest investor just left and discount stock brokerages all their stake last month, nse trade to trade stocks list does not bode well.

I have been looking for an inexpensive brokerage that I could refer people to. I currently use Schwab, but only because I have had an account with them forever. Schwab is good and are definitely one of the big boys on the block. I think for value that Scottrade can definitely hold their own.

I wanted to use Scottrade, but no DRIP option really killed it for me. You add on top of that the discounted prices I get on Sharebuilder for being a Costco member and Sharebuilders won out. That is a fairly big one to overcome if reinvesting is important to you as an investor.

I was wondering if you were considering anything for good firms for retirement accounts. I can completely understand that situation Justin. I agree that it can be difficult to find good, unbiased and reasoned reviews. If you go online to search for them then you just get sold to.

I think any of the major ones like Schwab, Vanguard, Scottrade all have good value and different offerings. At the end of the day you need to find one that fits your needs and gives you the value you need.

I will look to start investing later this year once I finish paying off my debt. Scottstrade look like mr nims forex ideal brokerage. I think they do offer a fairly good and balanced platform that appeals to a broad range of investors. I have had the same experience with their branch staff and that really seals the deal for me.

That and the fact that I do not get something sold to me every time I talk to them. Vanguard is good and have heard fairly good things about them. I know there are a few brokerages that are a little bit cheaper, but would you say that Scott Trade is cheap enough and the other one may not offer as competitive of a service?

In terms of price and value I would definitely say that Scottrade holds it own very well. There are cheaper options out there, but many of them do not offer the breadth of value and services that Scottrade does.

Now I am with Fidelity. I certainly understand that Marvin. I am really hoping they do start offering it in the near future, especially as we start investing for our little ones.

I think they miss out on a lot of potential clients due to that one very issue. Great comprehensive post John! Its a bummer they dont have an dividend reinvestment program, I guess they just give you the cash payout which I assumes goes back in your account, or do they send you a check?

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I am looking to open an account for my self-directed IRA, once I get it set up, so Scottrade is certainly a front-runner!! Thanks for this great post! Thanks so much Jim! In terms of how the cash dividend is handled…it goes into a money market which is attached to the IRA and not sent to you. Of course, the rate is abysmal so you do not earn a whole lot. I usually allow the dividends to build up and then purchase something else or just wait for a potential pullback on something and then buy a little more with my money.

If one has a Motif account, can positions be downloaded into Quicken desktop? I found that Interactive Broker transactions cannot be directly downloaded.

Online Brokers - Best Online Stock Brokerages - utabumo.web.fc2.com

With IB I had to go to their site, download a file to my computer and then import that file into Quicken. One annoying thing about Scottrade: Unfortunately, many other brokers charge the same exact fee — at the same amount.

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