On their website when I look at their comparisons to other companies I see a great bit of difference. Scottrade looks like they are better. They have $7 commissions and only need $500 to open an account.
I don't know what options and margins are. Can someone enlighten me on that. I want to buy Vanguard funds and Scottrade offers a better deal for that.
2006-07-12 05:32:05 · 4 answers · asked by Killa Billa 2 in Business & Finance ➔ Other - Business & Finance
Scottrade is the least expensive as long as they can provide all the services you need.
If you only want to buy Vanguard funds, you may be better off going directly through Vanguard.
Margin is the ability to borrow money against your investments. This will increase your risk, and therefore can be riskier. I don't recommend it for a novice investor though. You could lose everything using margin when the market starts to drop.
Options mean you would be trading in "derivatives" of the stocks, such as an option to buy a stock at a set price or an option to sell it at a set price. These investments are complex don't worry about them till you have traded for a while.
2006-07-13 04:34:02 · answer #1 · answered by WDubsW 5 · 1⤊ 1⤋
Scottrade has been fine for us. Their website isn't laid out great, but neither is anyone elses! (Don't ask me why)
Their low commissions are nice. I haven't had an issue w/ them. And I have had issues (really bad service, lost documents) w/ another on line broker (Ameritrade).
Anyway, a margin account is basically a loan where you can buy extra stock. It is based on your account assetts (say like 50% of your account value). Once you buy stock w/ it, you owe interest on the loan until you have your assetts in cash to settle the loan.
Options are more complex, and I'd recommend reading from a book on those rather than trusting Yahoo! answers.
One more thought, if you're going to invest in funds, not stocks, you may look into investing directly into the fund. You may save yourself commission on those purchases, since the funds already take out fees to pay for their service to you (buying and selling stocks) you are essentially duplicating that by going through a broker.
2006-07-12 05:38:12 · answer #2 · answered by Iridium190 5 · 0⤊ 0⤋
i take advantage of Scottrade and that i'm very chuffed. Orders are complete at present. costs are low. i will call the community branch with a question and an easily human being selections up the phone to help me. once you're searching for wide study and advice, then bypass some position else, the position you pays for it. yet once you're prepared to do your own study at many of the handfuls of loose monetary web pages, then Scottrade is an mind-blowing broking service. Scottrade does provide the S&P human being inventory comments, that are many of the perfect accessible.
2016-11-06 06:32:03 · answer #3 · answered by newnum 4 · 0⤊ 0⤋
Interesting question
2016-07-27 04:16:14 · answer #4 · answered by ? 4 · 0⤊ 0⤋