Scottrade

After moving to Seattle, Scottrade automatically updated this branch as my local Scottrade branch.
I am very satisfied with my experience so far. They were prompt and diligent with processing my international wire transfer and cordially answered any questions/​concerns I had. Great staff.

This review is actually about this local Seattle branch and not just the online services.
This staff is completely incompetent and is sloppy with their work. When my account was changed from a cash to a margin, they told me my margin account was activated. However, once I started making trades it kept showing up as my account having a margin call. I called this Seattle branch and they said to not worry about it. A few hours later, I get a call saying my money hasn’t settled yet and whatever transactions you have now can not be changed until 3 business days. This is a problem — anything can happen to a company in a matter of days.
When I asked them why, they said again because my funds had not settled. I replied that I precisely made sure all my money settled before my account was changed from cash to margin. They told me that was not true and continued to act like I was an idiot. This is not the first time I’ve had a problem with this branch. My friend is actually going through this same problem at this branch, which is why I’m writing this review as a warning to others.
I’m currently looking for a different broker. Recommendations would be helpful. Thanks.

This is a review for one experience working with this particular Scottrade branch and pays no mind to their online services, which have some strong points and some weaker points.
They were very cordial, very fast, and completed a wire transfer practically instantly. I was impressed and felt good knowing that the folks working there were so diligent with their line of work.

As the previous reviewer mentioned, Scottrade’s executions can be very bad. I have experienced the broker refusing to fill orders to cover short positions when the positions had moved in my favor. I had the same experience at e*Trade when i experimented with them for a week before closing the account. Scottrade was sued a while back for pretending to have an after-​hours session, when it was really just trading it’s own book to fill customers or it would fill customers the following day when the session opened. Google it. This whole industry is quite dodgy, and I would expect to have problems with any online broker accepting low funded accounts.

The people are nice, especially at the Seattle branch, but the execution of your trades is the worst I have ever experienced. They have «Elite» which is designed for the more active trader, yet they routinely restrict stocks in fast markets. Why have a trading platform if you aren’t going to allow people to trade? They are especially restrictive on short-​selling, and your fills are just plain lousy. Market orders are executed at the worst possible price. This may be because their quote feed is delayed even though they purport it to be real-​time. My wife and I regret having accounts there and ironically, I was the one who switched us over there. So who is really the dumbsh*t?