I began online trading (real money) in Jan '08 with Scottrade. My main reason for going with Scottrade was the cost per trade ($7). This was because of the small amount of money I had to trade with, I didn't want fees to eat into any of my profits.
I gave them a neutral rating because as I have had more and more time to explore their site and services, I see where there are areas that could use some improving. Just to be clear, I am not saying that I am a pro at this, nor do I know how to do everything on their site, this is just my experience!
First the things I like: The quotes are real time, I have never had a problem with placing a trade, and there are many local branches that accept deposits, withdrawals, and give general assistance with your account.
Now the things I think could use some tweaking: The stock screener options is where I find the most trouble - It is only user friendly for professionals in my opinion, they are supposed to be setup so that even beginners like me can understand it. I believe it would be better if they allowed you to personalize this to your level of understanding. You can only select ranges (5%-10%), or in the market cap, I prefer to type in less than 5.0B or greater than 1.5B. the ratios need help as well, most are rarely used, and some are not included (5yr revenue growth, acid test, etc...). these can all help in a investors research on stocks. Secondly the news section(s) in the detailed page on stocks are something to be desired. Most of it is useless and your better off reading the local paper for news about your stocks.
|
