PROS / The knowledge center provided by Scottrade is designed to answer your investment questions.
CONS / The broker-assisted trade fees are much higher than the industry average.
VERDICT / Even though the broker-assisted fees are steeper than average, the fully equipped knowledge center helps investors of all levels reach their goals.
Scottrade offers a variety of investment options and resources to assist traders at all levels meet their needs. To open an account with Scottrade, you need an initial budget of at least $2,500, one of the highest minimums of the stock software services we reviewed. After you open your account, you can trade both online stocks and options for $7. Fees for broker-assisted trades begin at $32.
This stock trading software has an online platform, so you can log in to check your accounts from any computer. The fully equipped trade platform allows you to monitor changes in the market, view streaming quotes, set alerts and view watchlists. These tools help you track changes in the market and use this stock management software to the fullest. It's customizable, imports to tax programs and lets you transfer funds from your bank through the platform. Our testers found the platform easy to use, particularly with the mobile app. However, we found it more difficult to set up an options chain with this trading platform than with the other services we tested.
Mobile access allows you to manage your portfolio from both iOS and Android devices. You can use the application to trade stocks and options, track your watchlists, monitor pending orders, and perform market research.
The knowledge center provided by Scottrade stock tracking software is fully equipped to handle both simple and complex trading needs. There are investment-planning calculators along with pre-made investment strategies and plans. Information is presented both as educational articles and video tutorials that give you step-by-step demonstrations of investment best practices. A unique feature of Scottrade is the live events and seminars that are free for Scottrade users.
You can contact customer support over the telephone, through email and via live chat. Customer service is not available 24/7, but the company can be contacted during business hours Monday through Friday.
Scottrade is a solid choice and an affordable stock management software. The pricing is straightforward, even though the minimum balance requirement is more costly than with other stock software. The value provided by Scottrade, with its education center, live events and seminars, makes it a valuable resource for your investment needs.