Scottrade Elite : Overview, Pros and Cons

Scottrade is a highly trusted online broker with low trade fees, excellent resources, and superb customer service. It is a good choice for cost-conscious traders who are familiar with investing through online platforms.

Overview

Scottrade is a solid online investment option for expert and novice investors. The regular Scottrade platform is an easy-to-use platform that a new investor can easily use and navigate. More experienced investors who find some of the research options lacking in the regular platform can upgrade to the ScottradeELITE® account. Existing customers with a minimum account value of $25,000 qualify to download the advanced trading platform.

ScottradeELITE® was specifically designed for active traders. It delivers advanced tracking and account control. It also allows toggle among a limitless number of linked and customizable trading layouts the user creates. It is an upgraded platform designed to help investors make more informed decisions and stay updated more quickly with market events.

ScottradeELITE® has an effective research capacity which allows the investor to instantly move around different in-depth charts and/or graphing tools. With this upgrade, you can now enjoy state-of-the-art software, more stock trading tools, advanced research, and breaking news in financial markets.

Features of ScottradeELITE®

• Advanced trading tools

• Screening tools

• Real-time account updates

• Mobile trading

• Stock news and research

• Scottrade SmartText®

• Trade-Ideas™

• Top Performers Scanner

• High/Low Filter

• Alerts

ScottradeELITE® allows you to trade from your desktop in any part of the world. Investors can remotely access their system’s information with CloudDesktopOnline from Apps4Rent.

Fees

Note: Trading using a smartphone instead of directly on the website attracts $32 per trade. Scottrade also requires an initial deposit of $2,500, which can be transferred from your bank account, wire, mail, or by check. You can also transfer an existing brokerage account to Scottrade to receive up to $100 refund of the fee.

Pros and Cons

+ Low fees per trade

+ Physical locations

+ Easy-to-use website

- High broker-assisted fee

- No futures trading