Scottrade Promotions

Top Scottrade Special Offers

Scottrade is one of the most trusted online brokers. Its offers low fees per trade, superior customer service, and a full range financial services. It also has over 500 physical locations if you want to visit an investment consultant in person. Read our in-depth review to see why Scottrade scored 4.1 out of 5 stars.

TD Ameritrade Promotions

Commission-Free Trading - Online Stock, ETF and Option Trades

Applies to U.S. exchange-listed stocks, ETFs, and options. A $0.65 per contract fee applies for options trades, with no exercise or assignment fees.

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How to Get the Best Deal at Scottrade

Scottrade has been over 35 years, making it a reliable place to go for online trading. Plus, you can take advantage of in-person support and seminars at local branches across the country. Still, the company provides plenty of online resources to browse through. Before you do, though, find out how Scottrade works to find out if it's the best discount broker for you.

Check for promotions. Scottrade typically offers some sort of promotion for investors opening up new accounts. However, you usually need a large opening balance to qualify for the deal.

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When to Use Scottrade

• When you’re ready to invest $2,500. When it comes to trading, Scottrade requires a minimum opening account balance of $2,500 for brokerage accounts. There’s no way to get around this, so if you’re looking for a broker with a lower minimum, you’ll need to look elsewhere. Still, there’s no annual fee or inactivity fee, so it’s a great choice if you’re ready to invest at least $2,500.

• When opening an IRA. There’s no minimum account balance for an IRA with Scottrade, so it’s a great place to supplement your other retirement savings.

• When you’re unhappy with your current broker. If you have at least $10,000 managed by another broker, Scottrade will pay up to $100 in other broker transfer fees when you make the switch.

What to Do After You Open an Account

• Take advantage of customer service. Scottrade consistently ranks among the best for its customer service experience, whether it’s on the phone, online, or in person. They even offer weekend hours, so it’s easy to make time in your own schedule to talk with a real person.

• Download the mobile app. Scottrade’s app is one of the better discount broker platforms for smartphones. You can research, trade, and even transfer funds from the convenience of your phone.

• Use the research tools. Experts laud Scottrade as having some of the best research tools available among online brokerages. Plus, all of the resources come with your account.

Best Things to Trade at Scottrade

• Stocks. Trading stocks online is easy with a simple flat fee of $6.95 per trade. This is extremely inexpensive, particularly compared to the $32 you’d pay for a broker-assisted trade. It’s also one of the lowest (though not the lowest) among online discount brokers.

• Options. Users recently benefitted from a big price dip in options trading with Scottrade. Down from $7 + $1.25/contract, the options fee now costs just $6.95 + $0.70/contract.

• Mutual funds. Scottrade offers more than 2,500 mutual funds that don’t carry a transaction fee, which can save you money if you like to invest smaller amounts of money over time in mutual funds.

But Watch Out

• ETFs. There are no commission-free ETFs available at Scottrade, so you’ll pay the regular $6.95 fee for each trade. That’s less than some competitors, but not ideal if you plan to make ETFs a large part of your portfolio.

• Futures. Scottrade doesn’t offer futures trading as part of its online brokerage.