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Scottrade Complaints & Reviews - Scam charges

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Scottrade

Posted:    Alfred

Scam charges

Complaint Rating:  63 % with 8 votes
Contact information:
Scottrade
United States
scottrade.com
This brokerage actually took from my account twice the amount that was due after a short trade dividend repayment. Not only that I have missed so many opportunities on their live trading platform. It's quite ridiculous and it's happened right after the branch have a new manager. I estimate I could have lost up to a thousand dollar due to their crazy Java software. I even experiment trapping the stocks to four orders in a 10 cents range and it stand still in that range for hour. This is one of the top volume stock traded of the day. I think they are scandalous and I will take my business elsewhere.
Comments United States Telemarketing
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 13th of Oct, 2009 by   mcmcl +1 Votes
Numerous Application errors when displaying data, well known by Scottrade Compliance department. Scottrade is working with MicroSoft to resolve application errors. Errors I've seen are erroneous average price data, positions not syncing to account balance detail, quantity of stocks owned displaed in correctly on Positions, both in Elite and Web version. Account balance inaccuracies, showing negative balances when actual is ten's thousands, freeze ups, unable to sync data by reloading data, closing/reopening windows or closing/reopening applications.

Having to SELL all shares to correct average price errors IS LUDICROUS !!! IDIOTIC !!

Report errors to SEC.
 8th of Feb, 2010 by   csharp1314 0 Votes
SCOTTRADE IS A SCAMMER, NO OTHER BROKER CHARGE FEES LIKE THEY DO, THEY CHARGE YOU 1% PRINCIPLE TO BUY AND SELL PENNY STOCK.
EXAMPLE, YOU BUY PENNY STOCKS WITH 100K, HALF % TO BUY HALF % TO SELL, SO THEY CHARGE YOU $1, 000 IN FEES + $14 ($7+$7), NO OTHER BROKER DOES THAT, THEY ARE SHADY AS HELL.
10K INVESTMENT = $100 + $14 ($7+$7), THEY ARE NOT SATISFIED WITH JUST THE $7 FEE, ALOT OF PEOPLE BUY PENNY STOCKS OR STOCKS UNDER $1, SCOTTRADE CHARGE YOU FEES LIKE NO OTHERS.

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