Comments on: TradeKing vs Scottrade – Online Stock Trading Comparison

By: kingkong trader

kingkong trader — Thu, 28 Apr 2011 15:07:40 +0000

I like the Scottrade Elite, but Scottrade has a 10 cents rule on the Stop Limit order and Slow execution that made me move my Account to TradeKing. So far TradeKing order execution is very good. If the price hit your limit order, it will be filled. I’ll update TradeKing experience next year. I’m still looking at LightSpeed Trading, Interactive Brokers, and MB Trading. Their commisions are very low .

By: pedro martinez

pedro martinez — Sat, 09 Apr 2011 04:52:00 +0000

do scottrade make me rich wit 50 dollor? help me thank you.. yes i want stock to buy for my family be rich

By: Lee Bodine

Lee Bodine — Fri, 07 Jan 2011 20:09:23 +0000

This very thing happened to me yesterday on Scottrade. I put a limit sell order in 30 minutes before market open. Shortly after the market opened, the stock reached and exceeded my limit but then very quickly declined. My trade was not executed. When I called to asked why I got the same explanation: they do not trade a stock until it has first traded on its “primary” exchange. On top of that, the person I was talking to advised me not to modify the order while he investigated why it wasn’t executed. Meanwhile the price continued to slide. By the time I got the explanation, realized that they weren’t going to hold themselves responsible, and modified the order I had lost almost 8%. Saying that they all do it doesn’t make it right. Neither does the catch-all warning “your order may not execute”.

By: G Robinson

G Robinson — Thu, 30 Dec 2010 11:59:23 +0000

Gotta love Scottrade Hater

By: Matt B

Matt B — Fri, 29 Oct 2010 06:03:27 +0000

ELTC4930 FREE 3 trades on Scottrade (maximum promotional code)

By: Scott Fenton

Scott Fenton — Sat, 17 Jul 2010 06:32:26 +0000

Actually, that’s not quite accurate. I know of no other brokerage that pins their opening trades to the major market’s open. I have brokerage accounts with Scottrade, TDA, Tradestation, Vanguard, and Interactive Brokers, and only Scottrade does this. Moreover, because a brokerage service pops up a message does not exempt them from the SEC’s best-fill requirements.

By: Yo Gabba

Yo Gabba — Fri, 16 Jul 2010 21:45:01 +0000

They all do this, this is how they brokerages make their money. You are only there for cushion in case they fall down. Even the bigger brokerages that you larger fees will do it should it benefit them, and rest assured Trade King probably does the same thing.

FYI: On Scottrade, the window that pops up when you set a buy/sell limit tells you that you have no guarantee that a trade will execute…so in essence they have warned you.

By: Scott Fenton

Scott Fenton — Thu, 25 Mar 2010 19:35:03 +0000

I just want to repeat, but here in another format, that there are big problems with Scottrade. It might seem like you are only paying $7 a trade, but because of various self-serving undocumented algorithms the market makers who actually do your trades and *pay* Scottrade for, you will not get best execution.

I had a limit order with Scottrade for an NYSE listed security. After the NYSE opened, the security dropped below my limit bid, then the *offer* for the security dropped below my bid, but still Scottrade did not fill me. Why? Because their “policy,” though they admitted that it is documented nowhere, is to only fill after a security first trades on the NYSE. This allows their market maker to trade ahead of you and use your trade as insurance.

The other problem with this is that more and more securities are traded off the listed market, in many cases most of their daily volume is off the listed exchange.

I have a formal complaint filed with FINRA, but FINRA is just made up of the brokerage firms, so one has very little voice.

Best to avoid this very poor brokerage choice. The commission might have been $7, but they just lost $618 of my dollars. Not much of a bargain.

By: Frank

Frank — Tue, 29 Dec 2009 02:47:15 +0000

The major difference between scottrade and tradeking is that scottrade DOES NOT offer dividend reinvestment on stocks, but do for mutual funds. Tradeking does offer dividend reinvestment

By: Jay

Jay — Tue, 01 Dec 2009 11:57:25 +0000

I am a thinking of taking a slow moving mutual fund investment of 8K and trying to make something happen on my own. I am in the process of trying to learn a bit about online brokerring. Anyone have any advice for me?