Review of the Best Brokerage Firm for 401(K) Rollover in 2015

Reasonable Rates and Fees

We will begin review of the top brokerage firm for 401(k) rollover with pricing information. Scottrade fees for trading are less than most other large online brokers. There is also no minimum amount required for an individual retirement account (IRA).

Stock trading via the internet is $7.00 per sale or purchase of stock. Using broker assisted trading or the touchtone phone system is $32.00 per trade.

Options trading fees are the same as stock trading but there is an additional $1.25 charge per contract. Exercises and assignments for options trading are $17.00 each.

Scottrade’s Competitors’ Fees:

- E*Trade charges $7.99 for online trading but only if you conduct 150+ trades quarterly.

- TD Ameritrade charges a flat fee of $9.99 per online trade, $34.99 for phone trades and $44.99 for broker assisted trades.

- Charles Schwab charges $8.95 per trade and requires a minimum of $1,000 to open an account.

- Fidelity charges $7.95 per trade and requires a minimum of $500 to open an account.

Scottrade Trading Tools

Scottrade's customers can trade from the website as well as from fully customizable, stand-alone application called ScottradeELITE. ScottradeELITE is an advanced, professional trading platform for active traders with an account balance of at least $25,000.

In ScottradeELITE the Market Overview page gives you a snapshot of the performance of any given major market index over one or five days, six months, one or five years. It brings together current market news, analyst views, and details on specific industries and sectors and international markets in one place.

The main stock tool is the Screener which also works for ETFs and mutual funds. With it you can set whatever combination of criteria you consider appropriate given your investing strategy. Stocks can be selected based on market segment, fundamentals, price performance, earnings and dividends, or technical indicators. The platform also gives you the option to save any particular set of screening criteria for routine use. Additionally, you can compare specific stocks, ETFs, or mutual funds side-by-side. As a shortcut, you can view stocks that meet criteria preselected by Scottrade: the five strongest and weakest stocks by 52-week change, the five largest and smallest stocks by market cap, and the strongest five stocks as ranked by S&P Capital IQ as of the last market close. Alternate tabs on the page give you the same sets except by the top or bottom 20 instead of only five.

Best 401k Rollover Broker

If you need to research a specific stock, the Summary page will give you the basics in one place: last closing price, change and percentage change, dividend yield, volume, and 10-day average volume. Below that are the basic chart and other fundamental data, such as the float, beta, P/E, volatility, EPS, spread, and 52-week highs and lows. Current analyst ratings and reports (S&P, Thomson Reuters, and Second Opinion) can also be found on the main page.

The Advanced Charting option enables you to impose a wide range of technical indicators on the price chart, include a comparison index or stock, and mark events (splits, dividends, or earnings announcements) and relevant news to see how they affect the share price. Several chart styles including line (the default) and candlestick are available. A set of shortcuts lets you pick a chart appropriate for the long-term or medium-term investor or the medium-term, short-term, or intraday trader. You can also select specific time ranges for the chart ranging from one day to 20 years (or inception).

There is also a comprehensive mobile application that works for iPhone, BlackBerry and Android. It allows the user to monitor investments, generate investment ideas, research opportunities (analyst views from Standard & Poor’s and, and execute trades, including stocks, exchange-traded funds (ETFs) and options (all with real-time streaming quotes and watch lists).

Best 401k Rollover Firm

Best 401k Account

Scottrade is one of the veterans of the discount online investing -- a solid, well-established company that has been around for over 30 years. The firm offers $7 flat rate commission on stock and ETF trades (with the exception of penny stocks). It keeps customers happy by not charging fees for things like IRAs, large orders, extended-hours trading, account maintenance, or inactivity.

We would love to see Scottrade cancel the surcharge on penny stocks, and improve its website design as well as options trading tools and pricing. Also, the absence of electronic fund withdrawals is puzzling (even though withdrawals can be done using a debit card or check).

Thanks to live webinars and events, tons of learning materials, and very helpful customer service, Scottrade is an excellent choice for beginners. Customers that invest in mutual funds get over 2,600 commission-free (NTF) mutual funds to choose from. Long-term, "buy and hold" investors will be happy with no account inactivity charges. Absolutely no-fee retirement accounts make Scottrade one of the Best Companies for IRA.

Because Scottrade is a stable, seasoned brokerage firm with a good reputation, it is a very appealing choice for anyone who would not trust their money with newer companies, but also doesn't want to pay $10 for trades with other established brokerage houses. The ability to visit a local branch and talk with someone face-to-face can be very valuable, too. We ranked Scottrade the Top Company For 401(K) Account in 2015 and highly recommend it to investors.

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Updated on 8/10/2015.

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