Scottrade

When it comes to online Stock Brokers, there are three names that are popular, among which is Scottrade. Not only is Scottrade one of the leaders in terms of number of clients, but it is THE number one when it comes to investor satisfaction, having won that award for the last 6 years in a row. Scottrade was founded by its president, Rodger O. Riney in 1980 as Scottsdale Securities. It got its name from the place where it was initially founded, Scottsdale, Arizona. It later on moved to St. Louis and in 1996 started offering online trading as part of its services. In 2000, Scottsdale Securities changed it’s name to Scottrade and has since grown in terms of the sheer number of customers. 2005 marked a milestone in Scottrade history as it received its 6th citation for having the highest investor satisfaction rating by J.D. Power and Associates, an independent company that rates the performance of different companies in their respective industries.

Accessibility:

With its headquarters situated in St. Louis, Missouri, Scottrade currently has 300 local branches in US soil alone. Scottrade staffs each branch location with a licensed branch manager plus additional brokers and assistants. Scottrade also has a Chinese platform called, Scottrade Chinese and is available in the US, Hong Kong, Taiwan and China.

Services:

There are many reasons why Scottrade has won six consecutive Investor Satisfaction awards. But it all boil downs to the quality of service that the company provides. Each Scottrade branch has a licensed branch manager and several brokers and other employees. You won’t have to talk to a machine whenever you call because Scottrade makes sure that a real person will always be around to provide real assistance.
Scottrade is best known for its low commissions. Charging only US $7 .00 commission regardless of account size or frequency of trading, the company has managed to attract a lot of potential investors.
Scottrade also partnered with NASDAQ to offer TotalView, NASDAQ’s premier market data product, on ScottradeELITE. ScottradeELITE is the company’s platform for active traders. Other platforms for traders include Scottrade.com and Scottrader.
Scottrade offers low-cost trading in securities, options, bonds, and more than 9,000 mutual funds, as well as retirement plans.

Achievements:

In addition to its six consecutive #1 in Investor Satisfaction awards, Scottrade also has the following to be proud of:
March 2006 – ranked No. 1 in Barron’s Magazine for Usability and Customer Support
May 2006 – named the Gold Winner in the Online Brokerage category of the 2006 Brandweek Customer Loyalty Awards
2006 – Scottrade’s trading website was ranked No. 1 for the fastest online transaction speed by Gomez Advisors Inc.
2006 – Scottrade reported a 72 percent increase in revenue for fiscal year 2006. From $464 million in fiscal year 2005, Scottrade reported that its revenue increased to $796 million.

Additional Information:

Scottrade is a privately held company with stocks listed and traded on the NASDAQ. To learn more about the company, visit their website, www.scottrade.com