Scott trade is a viable option for the average stock investor with little startup cash because account minimums are low, and commission fees are $7 flat rate (limit or market). ScottTrade also makes stock trading easy and inexpensive.
Account Features:
- Account Minimum: $500 - If you want a $0 minimum broker, I recommend Tradeking or Zecco.
- Real-time Market and Limit Orders: $7 - I like the flat rates because you can execute only limit orders and not get slaughtered with extra fees
- No Inactivity Fees - if you’re going to compete with other discount brokers, this is a must
- No Fractional Shares - Not a big deal unless you plan on buying some Google stock
Scottrade relinquishes total control by offering three different trading platforms: Scottrade.com, scottrader, and scottradeElite, each tailored to your specific investing profile and needs.
Go with Scottrade if you want to do with business with a discount financial brokerage that’s more establish and better known than a Sharebuilder.com or Zecco. Either way, you’ll save a ton on fees using Scott Trade.
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{ 6 comments… read them below or add one }
I use both Sogoinvest and Sharebuilder. I use sharebuilder to buy my dividend-paying+growing companies because sharebuilder offers the free dividend reinvestment. I use Sogoinvest for short term plays (1-6 months) because it costs $15 for sell market orders on sharebuilder and $3 on sogoinvest.
I am using Zecco since its early days. Idea of free trade was too much to resist. True to its claim, its been a great experince so far. With no over head of trading fee, each trade saves me $x instantly. As a satisfied customer I would recommend it.
How does Scott Trade handle divdend re investment?? do you treat dormant monies in account as money market? if so do you pay interest? at what rate. thanks, Walter
What is your closest office to southampton Penna. zip# 18966?
i currently have ira with msdw appx 200k. how do i transfer to you? do you have brokers ?
@ Milt
Good question. I sent you an e-mail with more information. Hope this helps!