Scottrade Review Promotion Code For 2012

With Scottrade, you can perform stock trades over the internet, over the phone, or with the help of a broker (broker-assisted). Different transaction rates are applicable in each of these cases. For normal stock trading over the internet, Scottrade charges you $7 per trade. This is independent of the trade frequency or the number of shares. For trading over the phone, you are charged $17, whereas broker-assisted trading is a bit higher at $27 per trade.

For Options trading, the rates are the same as stock trading. You are, however, charged an additional $1.25 per contract. You might feel that this is a bit expensive, especially if you are an active options trader.

Scottrade offers the largest selection of mutual funds and is favored by investors who trade in mutual funds. You get to chose from nearly 15,000 mutual funds. Out of these, around 3000 funds do not charge any transaction fees. For transaction of No-load funds, you are charged $17 for both purchase and sale. Load-funds on the other hand can be bought free.

Scottrade also lets you invest in fixed income investments such as bonds, Certificates of deposit and Treasury bills at rates that are comparable to most of its competitors.

Scottrade offers a large number of investment vehicles. With Scottrade, you can trade in stocks, ETFs, Options and mutual funds. You can also invest in fixed income investments such as bonds, CDs etc. This wide range of investments vehicles offered by Scottrade is especially helpful if you want to diversify your portfolio.

Pros/Advantages:
-The excellent customer service offered by Scottrade has rightfully earned it the best customer service award from many institutions.
-They do not have any hidden charges such as annual account maintenance. Mostly, brokers charge you for transferring or closing your account. Scottrade does not have any charges.
-They do not charge any inactivity fees, unlike many brokerages.
-They offer live streaming quotes without any additional charge.
-They offer high-speed trade executions.
-In addition, they have low-margin rates.

Cons/Disadvantages:
-New investors like to get a feel of the market without actually wasting their money before they take the plunge into the market. Many brokerages virtual trading to satisfy this need. This service is not offered by Scottrade.
-They have an account minimum of $500 to open an account.
-There is an over-dependence on their network of brokers for customer-support.

The trading platform of Scottrade is fairly basic. A higher version of this platform is available to those who have at least $25,000 in their account. The basic platform, however, satisfies the needs of a small-investor. Scottrade offers you real-time quotes and charts. You also have tools for analysis that lets you do some research on the market. You can also use filters to filter the stocks according to your preference.

Scottrade offers a well-planned education programs for its new-investors as well as long-term investors. It offers online tutorials that will help you take investment decisions and learn more about the market. Scottrade also has an active online community where you can share your queries and also get investment ideas from other investors.

Their customer service is the best in the market. They have a well established network of brokers that is spread across the country. They offer customer support over the phone, e-mail and chat too. Their customer support program has earned them the best customer service from many reviewers for many continuous years.

Scottrade lets you open nearly all types of accounts. You can choose between general account, retirement accounts, Specialty accounts and business accounts as per your needs. General accounts include both individual and joint. Retirement accounts include Traditional, rollover, Roth, Simple IRAs.

Scottrade charges you $500 for opening an account. This is comparatively lesser than what many of its competitors charge for opening an account.

If you're thinking about opening an account, you can find more promo codes below!