They told me I had to come in even though I am bedridden. This feature makes it easy for traders to see the information most important to them as soon as they log in. The national office is telling me it may take until Tuesday, incredibly. In pouring over various websites I discovered that Scottrade had values on their website that were actually the complete opposite of what these EPS numbers were in reality. When we called the next morning, they seemed to be aware of the error and fixed it.
Trading Platform, Tools & Features
The advisor there claims that my mother, in addition to the transfer, wanted cash in her account mailed to her, basically complicating and delaying the process of the transfer. The advisor took care of the cash request first and left the transfer paperwork to her colleague to do the next day, as she was leaving for vacation. Why the advisor could not address both duties in an expeditious manner speaks to their poor client services and management.
At the Laguna, CA branch, at least. She was very dismissive in our phone conversation, as well. A few years ago it happened with my mother's ACAS shares. When we called the next morning, they seemed to be aware of the error and fixed it. We excused it at the time, but now, reading the previous reviews and thinking about the aggravations caused by this transfer delay, I am fast losing faith in Scottrade.
After requesting a withdrawal they emailed me a money wire transfer form which I promptly filled out and sent back. Then, I called them and they assured me that the money would be in my bank account by Friday. Friday came but they still have my money. I just got off the phone with Jeff, who is a manager, and he has assured me that I will have the money Monday.
While on the phone with Jeff I could not help but notice how nervous he sounded. This is concerning but maybe I just made him nervous. Either way, I am taking my business elsewhere after this. We as a society should not allow companies like this to stay in business. Scottrade deducted over dollars from my account for the loss in stock price today. They need to refund me my money. What a serious mistake! I wonder how many other Scottrade customers holding Apple stock also got money mistakenly deducted from their balance today?
My step-father died owning a Scottrade account. I wrote to the Scottrade office that held his account seeking forms for my mother to submit to collect those assets. I wrote a second time, no response.
I then wrote to corporate headquarters. Over one month later, a paralegal stated I needed to submit an authorization signed by my mother to release any information.
I submitted the authorization and the death certificate. Nearly two months have passed with no response. Scottrade's customer service is atrocious! One star is way too generous. The first time I asked them to send me a check, it took them 2 weeks to respond. I finally got hold of the store manager to get the check sent to me. The second time I asked them to wire transfer money to me, it was on Friday, they told me that it was already after 2 p.
I said that's fine. On Monday early afternoon, 2 p. I called the store manager and they sent it later that afternoon. The third time which was in late April, I requested them to send me a check, after a week I still have not received it.
I was very upset. I tried to get hold of the store manager, was told that he was in a conference meeting. I tried 2 hours later, was told that he was tied up.
I tried again the third time, there was another guy, not the store manager, finally help me and rushed me the check overnight. I am very tired of their non-responsiveness to customer need, over and over again.
If you all have any better brokerage firm, would be glad you share it. Stay away if you can. I wish I could give 0 star if I can. This is the worst financial institution I have ever deal with. The issue is related with my dad's account, a 70 years old man with poor English. His international account cannot be set up properly over years but Scottrade hold the money for years and not giving back to him. The Scottrade international service is a joke!
They change the prices of the stock you are trying to buy constantly as you attempt to make the buy, making you pay more and more. They force the price of the stock down when you are in a margin call so they can collect on your default that they made happen by selling the stock in increments of shares till they get it where they want it and then they buy it back up when it is low so they make even more money when they force it to go up as they want it to go.
This company is all about making money and they do everything to make this happen with no concern for their clients, all they care about is making more money and they are stealing it from people in every way they can.
I have seen all kind of account oddities that have caused me to lose a total of If you are a lawyer I would like to talk to you about suing this company for one hell of a lot.
This company was caught in the past trading against their clients and I am sure they are still at it, this is how the head of the company became so rich in such a little amount of time. He is a billionaire, the company has been sold to Ameritrade as of recently and the head of the company of Scottrade is currently not well.
This company is being assisted by the crooked market regulations that I can explain. You have to be aware that when you transfer the money to their account it is within an hour but when you want your money out from the account it's 10 business days or pay 25 dollars for the service.
My experience as a Scottrade customer for horrific. During the sign up I was promised an unconditional bonus. Since the trading software and support were of the poorest quality, I later transferred to Fidelity, and bonus was removed.
They checked the conversation, and still did not keep their word. They lied because there is no other way they could get me as a customer. I've had IRA's with Scottrade for about 15 years. I acquired additional money and went to an office in The Villages, Fl. I told him if transaction went smooth I would put more in.
I contacted agent three times by email, no response. He left no "out of office" on his email, so I didn't have a clue why he wasn't contacting me. I finally went to the office and got my money transferred back to my bank. Totally unacceptable, unprofessional and possibly against NASD regulations not sure. I will be moving my three IRA accounts from them. I wonder why people leave their money in their bank. Every time I go to these people for services, I'm told, "We can't do that.
They repeatedly told my account number or routing number was wrong. I wrote a check on my account assuming overdraft would automatically come from my margin account as my previous brokers had done. They bounced the check and charged me I needed to do a wire transfer to pay for a home I was buying; I was used to doing this online through my checking account. With Scottrade I had to fill out a form and present it in person and wait for them to process it and hope it was done in time for the closing.
I've complained and complained and complained about the I've threatened to move my investments to my bank's investment branch and they did not care. Today I got an email saying I'd exceeded the number of transactions allowed on my Scottrade Money Market account. I've never heard of such a thing in the banking industry. If you want decent service do your homework and find a better brokerage. Their website is slow, and it often crashes. I've even been told that their stock values are NOT real time so who knows?
Maybe they're skimming playing the milliseconds and stock values to their advantage. I am thoroughly disgusted with this company. Do yourself a favor. Steer clear of Scottrade. This used to be a great company. Their phone lines are always busy. When you do reach someone at a local branch, they're fairly clueless as to simple matters. I missed the three pm cut off today because I couldn't get a straight answer in the first two phone calls.
After being a customer for 15 years my accounts 3 were frozen because I had moved to Israel. I moved 9 years ago and used my son's address in the city I opened the account. I was never notified and this year they refused to transfer my required distribution to the account even though they transferred my wife's whose address is the same. They told me I had to come in even though I am bedridden. I contacted an attorney who advised me that is against the law to not issue the distribution they reported to the IRS and I reported on my From what I have heard many employees are disgruntled because of the takeover by TD Ameritrade and they don't care about their customers.
Screens are created mostly in house, and it was refreshing to see more variety. Scottrade also added a new visualization tool, allowing you to see how each screen result flows through your predefined filters.
Scottrade offers two platforms: Thanks to the website redesign, immediately upon login, clients will find a quick link to Scottrader Streaming Quotes right in the header — a nice touch. Scottrader Streaming Quotes is a Java-based application that loads through the desktop and is simple to set up. With easy buttons to open new windows and three customizable layouts, I found the application functionality to be straightforward.
Each watch list is drag-and-drop friendly and can have up to 40 securities. One con with the Scottrader Streaming Quotes application is that there is no snap window functionality, so aligning any open windows the trade ticket, charts, top gainers, time and sales box, etc. My only other criticism would be that the quote screen window does not display the market index returns in large numbers at the top.
Instead, they are small items at the bottom and do not include percentage return for the day. Pickiness aside, Scottrade Streaming Quotes gets the job done and is an easy win for casual investors. Scottrade's advanced platform, Scottrade ELITE, is a desktop- based platform designed for active traders seeking advanced functionality beyond what Scottrader Streaming Quotes offers. Similar to Scottrader Streaming Quotes, the platform is mostly easy to use.
Functionality is also widespread; however, across the board, ELITE trails the competition due to a lack of depth. Focusing on usability first, Scottrade ELITE windows are labeled with clean, clear icons which makes tweaking settings a breeze.
In , Scottrade spent significant time cleaning up the overall design and launched three different color schemes: I prefer the classic dark design. Also in , usability was further improved with the addition of a new layout bar in the header allowing users to quickly swap between layouts.
Looking at tools, charting was enhanced in with the addition of a handful of new technical indicators, including Ichimoku Cloud, Dividend Indicator, Earnings Indicator, and Volume on Price, among others. In total, 67 studies are available which, while admirable, still falls well below the current industry standard of Lastly, charting now also includes what Scottrade calls Calculated Symbols, which can be used to produce a variety of custom views such as analyzing a pairs trade, for example.
New features aside, Scottrade ELITE is impressive; however, it trails behind its other full-service broker competitors and category leaders. Overall depth is where the platform really suffers. Features such as setting advanced alerts, viewing alerts on charts, viewing historical trades on charts, streaming TV, watch list real-time filtering, and advanced options probability analysis are not present. TD Ameritrade leads the industry in multiple categories and is a great parent for Scottrade.
As a Scottrade client, I am excited for the future. Scottrade and TD Ameritrade combined will house a staggering 10 million clients. At the time this review went to press in February , it was still too early to know how Scottrade would be integrated. Customers who call during normal business hours are routed automatically to their local branch.
Trade platforms and tools: Scottrade SmartText translates technical indicators on charts and screeners into plain English and provides context for investors. The Scottrader Streaming Quotes desktop platform is a step up in from the website in functionality. Here, investors have access to advanced charting with 30 technical indicators, advanced order entry with provisional trade commands, watch lists, real-time news from Dow Jones and, as the name implies, streaming quotes.
Real-time streaming quotes and charts are free for nonprofessionals. TD Ameritrade offers both — and rates highly in our reviews of brokers for futures and forex trading — which means these investments will be available to Scottrade customers after the merger. Given the philosophical similarities to TD Ameritrade, those pluses will likely remain and even grow stronger after the acquisition is completed.
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