How much money do i need to open a scottrade brokerage account


As with any service, the level of sophistication varies depending on the broker. If you're constantly glued to your smartphone, go ahead and download a few of the apps from brokers you're considering.

You won't get account access, but you should be able to see several of the tools available and whether or not they'll meet your needs. Barring that, check out online videos of how the apps work, either on the broker's site or on YouTube, where someone, somewhere, has posted a how-to video of just about everything.

If you think you'll need a little extra help to get started, put a brokerage's customer service to the test. Some have excellent customer service, available via phone, email or chat; others have extended wait times to receive a response even to basic questions or chats that sound overly scripted and robotic.

If you want to know that you can get a real, live person when you need help, call the broker's toll-free number and say you have questions about opening an account.

While one representative might not represent the entire pool of service people you'll always get, such calls are a great way to evaluate how friendly, responsive, and knowledgeable the company may be if you become a customer. Motley Fool contributor Molly McCluskey appreciates your comments. Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

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Finance your fixer-upper with the equity in your home. Experts urge Americans to refinance in Louis and opened a second branch. In , the company moved its headquarters to St. By , the company had 6 branches, and by , the company had 15 branches.

In , the company launched its website and began offering services for investing online. The name of the company was changed to Scottrade because the domain Scottrade.

For 2 years after the dot-com bubble burst in , revenue declined, although it fully recovered by The company began offering Chinese-language services in its retail locations in and in made its online offerings available in Chinese.

Between to , the company doubled the number of retail branch locations, reaching in In , Scottrade bought an office building outside of St. Louis next to its call center to use as its corporate offices. In , Scottrade purchased the naming rights for the stadium of the St.

Louis Blues , which was renamed the Scottrade Center. In , the company launched Scottrade Bank. In , the company launched a mobile app. In September , the online brokerage division of the company was acquired by TD Ameritrade and the banking division was acquired by TD Bank. In , the U. Securities and Exchange Commission charged the company with making fraudulent misrepresentations to clients about their Nasdaq pre-open orders in violation of the Securities Exchange Act of In January , the company admitted to violating the record keeping requirements of federal security laws.