Opening a Scottrade Account

Scottrade is an online stock brokerage; you can buy and sell stocks on a daily basis at scottrade.com. The company was founded in the 1980's in Scottsdale, Arizona. Their headquarters are now currently located in St. Louis, Missouri. The guy who started it was Rodger Riney, the dude in the helicopter if you have seen their commercials. One advantage of having a Scottrade account over the other online brokerages is that they have fairly cheap trades of seven dollars per trade. If you need assistance in executing your trade over the phone or need some other kind of assistance then rates do vary. This is a cheaper rate then what is offered by some of the better known online service outfits such as Charles Schwab and Ameritrade.

Scottrade offers several trading centers, depending on how much money you have in your account. They have their regular trading center for small time investors like me. The other option out there is the elite trading center which means you have at least twenty five thousand dollars in your account to use this service. The main difference between the elite and the regular is merely just more information available at your fingertips as far as I can tell. The one bad thing that I have found so far with Scottrade and this typically is a problem with online trading in general, there is a lag time between your orders and when the order is received. This most likely will cost you money on your trade.