Frequently Asked Questions About Scottrade

Welcome to Scottrade

By Michael N., Branch Manager and Guest Blogger

Last month I went to The MoneyShow event in San Francisco to work at our Scottrade booth. If you’ve never attended, the three-day event is jammed-packed with sessions on just about any investing topic from stocks and mutual funds, to buy-and-hold strategies. The event also gives participants the opportunity to check out the types of trading tools and resources financial service companies provide.

We had hundreds of people visit our booth each day to learn more about Scottrade and what we offer. Here are some of the top questions they asked at the event:

Q. How are Scottrade’s trading tools unique?

A. No matter your skill level you’ll find our trading tools easy to use, informative and customizable. We have everything you need to help you invest and trade on your own, from stock screeners to comprehensive research and analysis tools. But, in my opinion what truly makes our trading tools unique is that they are born from client feedback. Listening to what our clients want and incorporating their suggestions, allows us to deliver better trading experiences and tools.

Q. What kind of education does Scottrade have and how much does it cost?

A. We provide numerous ways for you to learn how to trade and invest on your own, and it’s all free. You can learn at your pace, your own way, either online or in-person. Through our Knowledge Center, on-demand videos, webinars and local branch seminars you can learn everything from the how-to basics to technical analysis and options trading.

Q. Does Scottrade have a branch in my area?

A. We have more than 500 branch offices nationwide, with friendly and knowledgeable stockbrokers who can help you open an account or learn more about our online trading tools and services. To find out if there is a branch near you, simply call 800-619-7283 and your call will be automatically routed to your nearest office or visit the Scottrade branch locator.

Q. What sets Scottrade apart from its competitors?

A. Many people know us for our low commissions and straightforward fees, but if you ask our clients, they will often tell you that our personal service is what truly sets us apart. My clients appreciate when I take the time to answer their questions or call to let them know about new features, educational opportunities or special offers. Having that level of service, along with great value makes a difference, and we do it because we care about doing what’s right for our clients. Find out for yourself how we stack up to our competitors by reviewing our comparison of brokers.

What do you want to know about us?

Also of Interest:

Michael N. has been with Scottrade since January 2007 and is the branch manager in Union City, Calif.

56 Comments -- All comments are monitored. Questions? Please see our User Guidelines.
November 1, 2014 4:36 PM

the frip program really helped me as a small investor by building up my positions holdings ,i was told they were updating frip i hope so

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October 16, 2014 7:47 PM

I would also like to voice my displeasure about not having a DRIP program. The FRIP does not meet many of your guests wants and needs. Obviously, FRIP is cheaper to administrate for Scottrade. How many of us have to pull our funds out of Scottrade before they finally listen.

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September 5, 2014 3:23 PM

Two disappointments:

1) No DRIP program

2) No more free ETF trading. I think Vanguard and Fidelity have this.

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September 5, 2014 1:36 PM

I am a huge advocate of having the traditional DRIP program initiated onto Scottrade. The FRIP is nothing I really want and strongly considering pulling my 3 accounts out of Scottrade and moving somewhere else.

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March 18, 2014 8:51 PM

how much can you start with to begin stock options? like a call or a put?

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December 5, 2013 9:08 AM

So, I See your FRIP program, but I want the traditional DRIP program; what gives?
Will you offer this or should I move our accounts to someone else?

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February 14, 2013 6:51 PM

One more advocate for a DRIP system. Please make an announcement, in bold, on our accounts page when this is set up so we can jump in asap.

Thank You

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February 13, 2013 12:55 PM

I am getting ready to increase my investing but I want to try DRIPs. How close is this? While I already have a Scottrade account I am not going to wait more than a month and will be opening a new account with a different broker.

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February 6, 2013 12:57 PM

I just contacted my local office regarding DRIPs and was told they have no plans to set it up. I will probably end up switching my account over to a service that does offer it.

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February 3, 2013 4:51 PM

I am looking at Scottrade for a custodial account for my granddaughter who is 3 weeks old, but I want DRIP, so please tell me when you plan to start so I can decide where to open her account.

Thank you.

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This message has been removed by a moderator.

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January 28, 2013 12:17 PM

I spoke with a representative on the phone last month about the current lack of DRIP, and he claimed that it is something Scottrade is looking to roll out in the first quarter of 2013.

Is this true? The lack of drip is really a big handicap and I am currently regretting my place at Scottrade, especially when other brokerages have this necessary feature.

Thank you.

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January 20, 2013 11:27 AM

Both of my daughters have had Scottrade accounts for a good while, but I am also considering transferring both accounts in their entirety to another broker that allows dividend reinvestment. In the past, a DRiP wasn't a big deal. But, times have changed, and in the quest for yield, a DRiP is a must...

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January 20, 2013 3:20 AM

I was looking for a second online broker and not having drip is a deal breaker. It's a bit hidden over at E-Trade but it is there and works like a champ.

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January 16, 2013 2:07 PM

RE: dividend reinvestment
You are still in the dark ages not having free dividend reinvestment of stocks and ETF's. I had my niece open an account at Scottrade, which is still active. I looked into transfering my accounts to Scottrade but stopped as soon as I found out no dividend reinvestment. I helped my sister, father, wife, and other nieces all open brokerage accounts but none went to Scottrade solely because of no dividend reinvestment.

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January 15, 2013 6:47 PM

Not having DRIP at Scottrade for Stocks is a real shame for an "online discount broker" I'm seriously considering transferring my dividend paying stocks to the competition to take advantage of their reinvestment program. And the ones that do, love to do it for free! (Maybe do the research and figure out a way to make it happen, instead of just "looking into" and "hoping for it...")

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January 9, 2013 3:47 PM

I would like to add mine to the voices advocating a free dividend reinvestment option for stocks and ETFs in the very near future


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January 3, 2013 11:03 PM

It is sad that Scottrade does not offer dividend reinvestment on stocks and ETF.
Dividend reinvestment is the biggest thing that encourages investors to embrace online trading
Hope Scottrade will soon, very soon consider this option for traders,
Good luck in future planning!

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December 31, 2012 3:56 PM

I too am interested in moving investments over to scottrade. I have refrained from doing so because I have drip through my current brokerage. This is the only remaining "sticky point" that I have. Since reading all these responses to others about this question, I am now convinced that I should just give up and remain with my current brokerage. Really is a shame too.

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November 26, 2012 8:36 PM

I too am interested in the DRIP, I see Scottrade is "looking into it" for the future but can someone be more specific? Is the future in the next year, 5 years or further out?

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November 9, 2012 1:02 PM

"2) Will Scottrade increase the period of time before the website automatically logs the user out, or perhaps provide the customer with the power to choose from a couple options?"

Yes, please do this. In fast moving markets it is a costly hassle to have to log back in. Thanks.

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November 1, 2012 11:00 AM

Hi Mark,

We understand the desire for DRIPs and want to assure you it is something we are looking into and hope to offer in the future. We appreciate hearing your feedback regarding dividend reinvestment and your suggestion has been passed along to our management team.

We do offer automatic dividend and capital gain reinvestment for mutual fund positions and if you are interested in those, please visit your local Scottrade branch or call the Service Center at 800-619-7283.

Andrew R.
National Service Center

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October 26, 2012 3:14 PM

Not having an automatic dividend reinvestment program on stocks is a huge handicap for Scottrade. I currently use scottrade and I'm strongly considering using one of the other brokerage firms that do offer free automatic dividend reinvestments on stocks. I want to continue to put my money to work in dividend paying stocks, but do not hold large enough positions to do this in a cost efficient manner. Hopefully this service will be offered relatively soon. I can be patient if I know this is in the process of being rolled out in the next 6-12 months.

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September 14, 2012 5:57 PM

Hi Tom,

You asked two great questions. We are hoping to offer a dividend reinvestment for stocks or exchange-traded funds (ETFs) in the near future. Currently we do offer automatic dividend and capital gain reinvestment for mutual funds.

As far as your question about increasing the time-out period for inactivity, we do not have plans to increase the time-out period from 30 minutes. Having that set time on our website is part of a regulatory requirement as well as a way to keep you protected.

If you have any additional questions, please share. We would love to hear them.

Thank you,

Suzanne H.
Sr. Social Media Specialist

1 Reply » Show Reply » Reply
September 13, 2012 8:18 PM

I have a couple questions:

1) Are there plans to provide a fractional DRIP in the near future?

2) Will Scottrade increase the period of time before the website automatically logs the user out, or perhaps provide the customer with the power to choose from a couple options?


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