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Best brokerage firm for long-term, buy-and-hold investors
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Commissions
- Stocks and ETFs: $7
- Stocks and ETFs broker assisted: $27
- Stocks and ETFs interactive voice response (IVR) telephone system: $17
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ free mutual 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 fee plus $3 per bond (minimum investment $1,000)
- Unit Investment Trusts (UIT): $50 liquidation fee
- Foreign Stocks Transferring In or Out: $60 per transaction
- Investment products: stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
- Minimum to open Scottrade account: $500 for a cash account, $2,000 for a margin account
- All Scottrade fees
Scottrade offers flat rate $7 trading commission for stocks over $1. But what we really like are over 2,800
no transaction (free) mutual funds, which allows mutual fund investors invest for free.
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- One of the highest customer satisfaction ratings according to JD Power and Associates
- 500+ local branches
- Great support for beginner investors with massive amount of educational resources
- Online user community
- Banking services: savings, CDs, money market and checking accounts (visa check card and first order of checks is free)
- No ACAT fee
- Only $500 minimum to open account
- Free real-time streaming quotes and charts
- Free dividend reinvestment for mutual funds (but not for stocks)
- Additional 0.5% of the principal value commission for stocks under $1
- No electronic withdrawals (but can use debit card or checks)
Full Review of Best Brokerage For Long Term, Buy-And-Hold Investors
Scottrade is one of the veterans of the discount stock trading -- a solid, well-established company that
has been around for over 30 years. The firm has $7 flat rate commissions (with exception for penny stocks).
Read Full Scottrade Review.
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