A friend of a friend claims he had big problems with his Scottrade account and switched to etrade and everything has been great since. Of course I couldn't get any specifics but am close(planning on doing it this Friday) to opening a new Scottrade account for my business and depositing the bulk of my money. While the claim seems unlikely I just wanted to know if anyone had any problems with Scottrade?

 

scottrade as a brokerage is pretty decent. after all, they are a "discount" broker. i bet your friend is just referring to last week or a few weeks ago when they had server problems and some people couldn't pull up the live quotes stream or enter trades for a few hours.

 

I have a scottrade, ameritrade, schwab and am in the process of setting up my New York Life brokerage account.

It all depends on what type of trading you're doing to. Guys like scottrade and ameritrade (probably etrade as well but I've never used them) are good if you're executing trades at the penny/sub-penny, pinks level.

I really like the tools I have with my schwab account though. Great for trading in the bigger markets complemented by my alphatrade account tools.

I'll eventually get rid of the ameritrade/TD account. I may keep the scottrade account though. Will definitely keep my NYL and Schwab accounts.

 

So your friend thinks etrade has a bullet proof servers??

Scottrade is great you get a broker evertime you call. And a office almost everywhere.

 

Scottrade sucks because you can't short AH.

 

Scottrade is fine for me, but I'm more on the "buy and hold" side than the "daytrader" side.

I have a friend that used to work for etrade (don't know exactly what he did) and he said never open a brokerage account with etrade

 

Whats AH

 

I've used scottrade for about a year with no problems, and like dnd said you get can talk to a broker when there is an issue.

 

afterhours...

one of the easiest things to do is short a horrible financial report and guidance that comes out afterhours.