Scottrade Penny Stock Fees
Scottrade penny stock fees: commission charged for buying pink sheets/OTCBB/stocks priced under $1 in 2016. Scottrade rules and policy on penny stocks trading.
Scottrade Penny Stock Fees
Scottrade charges $7 a trade, plus 0.5% principal on Pink Sheets/OTCBB/stocks priced under $1. This is very expensive and we don't recommend Scottrade for buying penny stocks.
It's much cheaper to trade stocks priced under $1 with one of the Top Penny Stock Brokerage Firms.
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Scottrade makes it fairly easy to manage the account’s portfolio. The main page displays the gains in percent and dollars. Participants can also easily change their contribution ratios and investment ratios. Unfortunately Scottrade doesn’t seem to offer automatic rebalancing, so participants will have to keep an eye on that themselves.
Scottrade’s website contains a huge amount of information that plan participants can use to increase their investment knowledge. Surprisingly,
they offer even more on top of the already great (and free) Morningstar fund ratings and reports, daily market digests, and performance analysis.
These include webinars, podcasts, and question and answer segments found in the “Knowledge Center”. The webinars aren’t very frequent, but they offer very good information and are definitely worth watching when they happen. The podcasts are a great way to have investing advice and market insights everywhere, and without having to be tied to a computer. Question and answer posts are a great way to learn about commonly asked questions, and a great location to ask anything that’s been on your mind.
Scottrade also has very good customer service. Their online customer service has a fast response time and they give quality answers. They also have a national phone line that’s operated most hours of the night. During normal business hours, that number redirects to the participant’s closest Scottrade branch.
The in-person branches are great for people looking for a more personal touch. The employees aren’t allowed to give you investment advice, but they can answer any questions you have about the platforms, laws, taxes, and investing in general.
Is Scottrade Good for Beginners?
When you take your first step into the world of investing, there are many daunting obstacles that a new investor faces. How do I decide which stock to buy? What markets should I diversify in? When should I sell? While questions like these can create problems for even an experienced investor, Scottrade’s online platform, easily accessible Knowledge Center, and friendly brokers will help you transition into the world of investing with more peace of mind.
Let’s start with a look at Scottrade’s Knowledge Center. There is an abundant amount of articles that cover investment terminology, basic investment research and analysis, as well as overviews of various investment offerings (stocks, bonds, mutual funds, IRA’s, options, etc). Beyond the wealth of articles, Scottrade’s Knowledge Center offers webinars that you can register for to learn about various investment strategies. All of this information is available with a few clicks of a button and can be accessed before ever investing a single cent!
In summary, Scottrade provides all of their investors a great platform and low fees to manage their own investment activities in the market. The support a new
investor receives from their local branch as well as the access to the online Knowledge Center makes it a great broker for new investors to confidently get their
feet wet in the market. Unfortunately, Scootrade penny stock fee doesn't makes the firm an ideal broker for penny stocks trading.
Get up to $100 in account transfer fee reimbursed.
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Updated on 12/8/2016.