Scottrade Review

By Sarah Pritzker

Full Service Brokerage With Competitive Fees

Since being founded in 1980, Scottrade has committed to providing exceptionally valuable tools and resources to help investors trade with confidence. To meet their goals, Scottrade provides investors and traders with educational services, research and several investing tools to help develop strategies for reaching their financial goals. Scottrade offers a full suite of value-added services to investors of all experience levels for competitive trading fees.

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Best For: 

Best for novice to sophisticated investors who want several resources and reasonable trading feesv

Scottrade Highlights

  • Over 500 branch locations across the country and one of the most established trading platforms on the internet
  •  Access to individualized assessments from financial planners to help customers meet their financial goals
  • Wide range of tools available for investors to conduct the levels of analysis to meet all levels of investor sophistication

Pros

  • $7.00 trades
  • Screening tools for equities, ETFs and mutual funds
  • In-person and online education
  • Professional portfolio review

Cons

  • No proprietary research available
  • Does not offer in-house managed funds

Expert’s Score Breakdown

Overall rating: # 4.2

1.Security Research: # 4

2.Portfolio Guidance Tools: # 5

3.Market Analysis Tools: # 4

4.Fees: # 3

              5.Quote Data: # 5

 

Security Research 

Scottrade in particular does not provide its own propriety security analysis, but it is partnered with Standard & Poor’s to provide their expert security analysis. Scottrade offers research features that include S&P’s News & Views and S&P’s Ranking Changes. On an individual security level, Scottrade offers powerful screening tools. Using their algorithms, Scottrade users can create filters to sort through both funds and individual securities that best meet their investing needs. Scottrade’s platform also allows users to sort stocks by volume or price change, and shows their 52-week range, and past 7 quarter performance versus consensus reports. These tools allow customers to have the expert analysis needed to make investing decisions on individual stocks.

Portfolio Guidance Tools

Scottrade offers all customers access to their portfolio management tools which include a retirement calculator and their proprietary portfolio management review tool combined with the power of Morningstar’s risk management solution. Furthermore, Scottrade customers can take advantage of “Advisor Access” and “Guidance Solutions” for a fee. With these programs, customers can work directly with an expert financial planner to receive individualized portfolio guidance and feedback.  Advisor Access will grant customers a review of their complete financial situation while providing numerous other financial planning services to clients. Guidance Solutions entitles customers to an assessment of current investing strategy and risk tolerance, as well as ongoing, customized portfolio guidance. 

Market Analysis Tools 

Scottrade offers a host of tools to allow investors to research trends, an extremely important feature for an active trader. To help clients conduct fundamental analysis, Scottrade offers an algorithm that searches for a user’s defined keyword search to pull results from 3rd party industry expert research content relating to the customer’s search. This resource also includes a tool to see analyst ratings on stocks, which is an excellent feature for initial research decisions or for confirmation of an investor’s investment thesis. For technical analysis, Scottrade’s platform allows users to see the top 5 and bottom five industries and sectors at any given time. These are very useful tools to monitor directional trends, and can help customers make informed trading decisions.

Fees

Scottrade was a pioneer in online trading, starting their platform in 1996. Their philosophy was to empower individuals to be able to trade securities affordably by offering $7.00 trades. Since inception, Scottrade has remained dedicated to minimizing transaction costs, and still offers the same $7.00 trading fee, one of the most competitive in the industry.

Quote Data 

Scottrade offers customers their fully customizable Scottrader® Streaming Quotes platform, which delivers instant detailed quotes that include financial, fundamental and technical information for securities and funds. Other key features include:

-Advanced Charting with over 30 different technical indicators and trend lines

-Customizable watch lists

-Sophisticated order entry tools for advanced traders

-Top stock gainers and losers list

-Gains and losses tax center to help users with tax harvesting

Conclusion

Scottrade is a great platform for investors of any experience level. They offer several services that allow novices to get the expert guidance they need as well as give the advanced tools to help sophisticated investors meet their investing objectives. Their trade price of $7.00 makes them priced very competitively for brokerages that offer a full suite of services.

About Scottrade 

Scottrade is a privately owned online and brick-and-mortar discount retail investment brokerage firm headquartered in Town and Country, Missouri. Its founder, former President and the current CEO is Rodger O. Riney. Scottrade has over 500 branch offices across the US and a growing presence in Asia.

Thanks to their dedication to providing affordable trading with an emphasis on the customer experience, Scottrade has received several awards in its 35 years plus years of operation. Scottrade was been named to Baron’s Best Online Brokers, J.D. Powers’ Customer Champions, Compuware’s Best of the Web Gold Award, Computerworld’s Best Places to Work in IT and many more.

 

Industry: Online Brokerage

Founded: 1980

CEO: Rodger O. Riney

Founders:  Rodger O. Riney

Geos: International

Links to social pages:

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  About Sarah Pritzker

 Sarah Pritzker is a freelance writer with a keen interest in the world of investing. 
 She enjoys helping her readers make sense of investment topics like online
 trading,debt consolidation, personal loans, and others, as well as helping
 them stay up-to-date with current money management tricks and trends.

 

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