Scottrade Review

Best IRA Brokerage in 2014



Best IRA brokerage firm in 2014. Top rated discount online stock broker for IRA investing account: fees, pros and cons, beginner support, trading tools, costs.




Scottrade IRA Accounts


  • Traditional IRA
  • ROTH IRA
  • Simple IRA
  • SEP IRA
  • 401K Plans
  • Defined Benefit
  • Money Purchase
  • Keogh DVP
  • Rollover IRA


Scottrade IRA Fees


  • IRA setup fee: $0
  • Annual (maintenance, custodial) IRA fee: $0
  • IRA termination fee: $0
  • Account inactivity fee: $0
  • Outbound Full Account Transfer: $75
  • Outbound Partial Account Transfer: $75


Best IRA Brokerage Pricing


InvestmentsCommissions
Stocks and ETFs $7
Stocks and ETFs broker assisted $32
Stocks and ETFs interactive voice response (IVR) telephone system $32
Options $7 + $1.25 per contract
Mutual funds 3,000+ commission-free NTF funds, $17 for others
CDs, OTC Secondary Corporates, OTC Secondary Municipals,
U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings
subject to a markup or markdown
Listed Corporate Bonds $35 + $3 per bond (minimum investment $1,000)
Unit Investment Trusts (UIT) $50 liquidation fee
Foreign Stocks Transferring In or Out $60 per transaction

Investments stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
Scottrade minimum deposit to open account $500 for a cash account, $2,000 for a margin account
FeesScottrade fees


Scottrade IRA Advantages

  • No inactivity, account maintenance or hidden fees
  • No-fee IRAs
  • #1 in customer satisfaction according to JD Power and Associates
  • 500+ local branches for in-person assistance
  • Great support for beginner investors with a massive number of educational resources
  • Online user community
  • Good banking services: savings, CDs, money market and free checking accounts (free ATM withdrawals, VISA check card, and first order of checks free)
  • Only $500 minimum to open account
  • Free real-time streaming quotes and charts
  • Free dividend reinvestment for mutual funds (but not for stocks)
  • Largest number of mutual funds - over 14,500


Scottrade IRA Disadvantages

  • Additional 0.5% of the principal value commission for stocks under $1
  • No electronic withdrawals, but you can use a debit card or check. Once you receive checks, you will have the routing number and account number, which you can use to withdraw money via ACH initiated from other financial institutions


Best IRA Brokerage Summary


Scottrade is one of the best-known and largest online brokerage houses in the U.S., and it has been in business for over 30 years. For the last few years the firm is the leader in customer satisfaction according to J.D. Power and Associates.

We believe that Scottrade is the best brokerage for retirement account for do-it-yourself (DIY) investors since it's a stable, established company that does not have IRA setup fee, annual IRA fee, hidden fees, account inactivity and maintenance charges. The firm also does not charge additional commission on large orders and extended hours trading.

Investors can open any available IRA account (Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA, 401k plans, and others) with no money down in about 10-20 minutes. Read full Scottrade Review.


Scottrade IRA Promotion:


$100 in Transfer Fees Refunded. No set-up fees. No Annual Fees.

This article was updated on 4/28/2014.



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