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ali
Lv 4
ali asked in Business & FinanceInvesting · 9 years ago

Why is Scottrade not preferred for short term trading?

Day trading/Active trading.

7 Answers

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  • 9 years ago
    Favorite Answer

    Scottrade is slightly on the cheap side of trading. A lot of the other brokers rant that a person can basically use their software and then trade successfully. Scottrade just says you get $7 trade and they claim to have a ticker display. Scottrade is good enough for Day trading/Active trading. It's probably not preferred by people who want help and don't think that much about $7 trades. Some Day trading/Active trading have accounts starting at $250,000 and want more from a broker. For example, some broker will mail you statements, reinvest dividends etc. You might be able to improve a stock, since the issuing company has no reinvest program or DRIP, a stock broker may create one in your account. This is one service Scottrade doesn't offer. Technically Scottrade has 505 offices and I don't really know if Day trading/Active trading do not prefer them, but their are reasons why they are not preferred by all traders

  • Anonymous
    4 years ago

    1

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  • 5 years ago

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  • Anonymous
    6 years ago

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  • cmcvpr
    Lv 5
    9 years ago

    Their trading software is not up to par with the competition.

  • Anonymous
    9 years ago

    their charting package is poor

  • Anonymous
    9 years ago

    ;;;;;

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