BrokAIr Reviews

Scottrade Review

"Scottrade has been known to be less than transparent with their fees and commissions, raising questions as to whether they're intentionally taking advantage of their customers." Does Scottrade have a hidden agenda?

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Scottrade Overview

Scottrade is an online brokerage with a long history of providing stock trading services. Founded in 1980 by Rodger O. Riney, the company has grown to become one of America’s largest and most respected stock brokerages. Scottrade provides comprehensive services and tools to its customers, including quick and easy trading, powerful charting and research capabilities, customer service and more.

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Public Opinion on Scottrade

Overall, public opinion on Scottrade is generally positive. Customers appreciate the low commissions, the wide variety of investment options, the reliable platform and the excellent customer service. There are some complaints about the lack of international trading options, the high minimum balance requirements for certain services and the limited educational resources available. However, these complaints are relatively minor compared to the overall positive impressions customers have of Scottrade.

Newsworthy Events Around Scottrade

In 2017, Scottrade was acquired by TD Ameritrade. This acquisition resulted in a larger range of products and services available to customers, as well as improved customer service. In 2019, Scottrade was fined $2.5 million by FINRA for failing to properly supervise its representatives. The company also agreed to pay restitution to affected customers. In 2020, due to the coronavirus pandemic, Scottrade closed all of its branch locations across the United States. The company continues to provide online trading services to its customers.