Posted by Anonymous
Scottrade premarket service went down for the entire period, I called twice，but no resolution. It is a joke!
Customer Service Scoreboard
Terrible technology and process. Can't get my bank account working, they set my basis wrong, who requires paper forms for everything?!? There are many things you can do online that they don't do.
They don't want you to get your money out their company. Made multiple requests to open this but they don't get it.
You get much more for your money at Fidelity.
After four separate calls, attitude from the Clayton branch, hold times exceeding 20 minutes and getting the wrong information, I still don't have my money from what should have been a simple transfer. This company used to be awesome, but those days are long, long gone. Their customer service representatives can provide answers and can't do anything. You'll only get resolution if you go to a supervisor. Even then, you're likely to be unhappy.
In 2013, my Scottrade Brokerage and Scottrade Bank account was hacked. Somebody accessed my account and initiated over $800,000 of ACH transfers which were then used to trade stocks at enormous losses, essentially buying stocks in my account at a premium while another account was selling them.
Long story short, Scottrade refused to acknowledge the fraud and blamed me responsible, as a result of Scottrade's failures I conducted research into Scottrade's security systems and subsequently warned them in the Summer of 2013 about the database vulnerabilities that Scottrade recently acknowledged after two years of doing nothing.
Bottom line, Scottrade's management has death ears when it comes to hearing customers complaints and suggestions - and as a result 4.6+ Million customers are now at risk of identity theft and fraud.
If you are curious about the complaints against Scottrade and want proof that Scottrade was informed of their security failures please feel free to Google "MuckRock Scottrade" or submit Freedom Of Information Act requests to the SEC requesting all complaints against Scottrade.
My 2 cents, steer clear of this company and its employees.
Two weeks ago the Scott Elite platform went down and a week later it is still inoperative, even after assurances that it would be corrected. When I called tech support I was told they were working to correct it and it would be up within the week, that began on 6/27. After rebuilding my templates 3 times I called support and eventually spoke with a supervisor whose answer was to give me some free trades for my difficulties. The staff was polite but frustrated as well. One more week and if no fix I'm out!
Scott Trade is a ridiculous service. The Chesapeake VA office manager is an idiot; she should be wearing a helmet on the short bus.
The Elite program developers can not get things right. I CONSISTENTLY LOSE INFORMATION I PLACE IN THE PROGRAM and have to redo watchlists, chart drawings, alerts, etc. And the developers DECIDE to add new bells and whistles rather than correcting the FUNCTIONAL PROBLEMS with the program.
Their constant answers are "the problem is being worked on", "the problem sounds like your antivirus software or firewall" or "your internet provider must be the problem."
Updated Scottrade Elite platform is just dysfunctional garbage. I've been with ST since Dec. 2004 and I am now preparing to move all of my accounts, totaling slightly over seven figures left of the decimal (without counting the commas). I used their old platform until they forced me to migrate to the new one. I had resisted to the last moment because of the literally dozens of serious bugs in the software. Aside from having a horrendously bad user interface, there are so many problems that essentially nothing works really well. Serious problems with charting, minimizing a window (how did they hose this one?), graphical data presentation, and worst - orders not updating properly. I have been sending endless feedback about the problems, have talked to ST reps extensively, have been given a 2% margin interest discount to hang around, and have been asked for direction as to what they should concentrate on fixing.
I have a lot of notes and screenshots, and could type for an hour about the specifics of the problems, but there's no point in doing that. What matters is that this platform was initially rolled out in early 2013 and in 18 months they have not fixed even the most obviously screwed up elements. It is a flawed effort by obviously unqualified staff & management, and if I had to guess I'd say marketing had a heavy hand in the design - because nobody except marketing could be so clueless about their customers needs. Why else have Scottrade icons that don't do anything on every window?
In spite of their pleadings about how I'm a highly valued customer and how badly they want to keep my accounts, after many conversations I have the distinct feeling that they really have no clear direction to fix their mess of a platform. I can only recommend that anyone that needs a highly functional, accurate, and easy to use trading platform - stay far away from Scottrade Elite. It worked in it's own special way until they did an incremental update a few days ago and now the cloud based platform won't even boot up.
Final analysis - The new Scottrade Elite platform is very poorly planned, has many bugs, is slow, hogs memory, and now is 100% dysfunctional since it no longer even loads and runs. Pretty pathetic effort. Take your money elsewhere.
The worst customer service I ever came across, they lost my trades due to a software error on 8/13/2014 and charged me to not fix the problem but make it worse. They erased all trades from that day and deducted 40% of my cash, then they agreed to give me some of my trades back on weekly contracts that I already sold. This happened on Thursday which were 90% loss.
I am so pissed I cant even type out all problems I have had.
PS, I make on avg 30 trades a day for the last 3 years. You would think they would want to keep my business.
Never will recommend to open account at a Scottrade
Very terrible service, rude,discriminative in nature
Stilling your money
Customer service very low on knowledge about any related to trading questions
Stilling your dividends because they have they own rules and record date will be 3 days after you purchase a stock.So you on record after fund are settled,not the SEC standards requirements.
Take your money and run
There are many out there and much chipper brokers dealers
Do not open account there will lose everything the worst company ever
Do trading for 20 years
. . Where as Scottrade, La Vegas has in fact without notice closed my Brokerage Checking Account. . This being a typical cash funding account for trading securities and sweeping balances. . I was not forewarned or notified by any means, manner or method as to the subtle and past dated policy changes affecting my account. . On 07-22-2013, I deposited a Scottrade check into my local Bank account for personal reasons. . These accounts are always in good standing with adequate available funds. . On 07-24-2013, I was telephoned by a rude La Vegas, Sahara Ave. branch female agent with degrading, accusational, and rejection implications of the check in question. . As a long term Senior Citizen customer of both institutions, and with outstanding credit, I resent the offensive dictatorial manner in which I have been treated and by which my account funds have been hijacked. . This issue has cause related problems for me, including unwarented dangerous stress to my increasingly poor health. . I hereby demand full resolution of this matter by Scottrade in an agreeable account update and payment of my Bank fees. . Furthermore, this truthful statement shall be forwarded to appropriate legal entities at my discretion with reserved rights. . .
Beware of Scottrade!
Scottrade will steal your money, laugh to the bank, and then tell you there must be a problem with "your" computer or trading mechanism that is causing a problem.
What you will get with Scottrade is progressively inaccurate stock quotes, inaccurate stock call/put option quotes, inability to sell winning positions or buy into rallies, and freezing-up, unresponsive streaming data esp., when you try to sell your positions for big profits. So if you're on the winning side, don't count on remaining there with Scottrade as your online broker.
Scottrade is "EXPERTLY TRAINED" at DENYING complaints and they'll RESPOND as though your ISSUE with them was never heard before.
They'll bend you over and stick it to you where it should never go. Really!
Scattrade is the worse company, I never have see such kind mess . The worse company on the word the word, blocking account with any reasen .
Mancher manager is horoble stuped, hi is not able to do this job, as well of people fro Scattrade
They don't accept outoraization form.
Mantoly sick people
The scottrade Elite active trader platform has many glitches and flaws in it.many technical difficulties plague this system.
I get the worsed possible execution on trades compared to my active trader accounts with TD Ameritrade and Fidelity.
I have filed hundreds of complaints with scottrades admission to the problems but they refuse to offer fixes for them.
My local scottrade branch has demonstratet itself been an utter failure in offering any help.
My accounts with Fidelity and TD Ameritrade have never encountered a problem-not even once!
One should seriously consider another
online broker other than Scottrade.
Scottrade will rob you and they just dont care. Good luck if you choose scottrade as an online broker.
Really-Good luck-You will need it!
I like using Scottrade elite and their trading platforms. However, I really get disturbed when their stock options window freezes up from time to time especially when I\'m trying to unload a losing position costing me big bucks in the end. It seems a bit suspicious to me because it only occurs on the positions I\'m holding. Other stock option windows work fine. Yes I know, I should probably just drop my business from them altogether.
I had an account with Scottrade 10 years ago which I re-opened with Certified Funds. I was promised by an employee in their Greenwood Village, CO office that although below the $25k minimum, that I would be able to use their pro trading platform by speaking with the manager. When I spoke with the manager I was told that it would not be possible for me to trade on the pro platform. I requested my money back & was told that there would be a 10-day hold on the money. I contacted the corporate office who I found to be quite rude, saying that they would check into the matter but not doing so. Poor customer service. Charles Schwab is much more customer focused, informed & doesn't put holds on Certified Funds!
I have been a Scottrade customer for over 4 years. I have several accounts open at Scottrade.
In April, I opened two new Roth IRA accounts at Scottrade.
One of them was opened with no problems and I transferred money to it from my personal account.
A hold was put on the other account claiming that I needed to prove my identity before stock could
be transferred from my existing Traditional IRA to this new Roth IRA.
I had to make several trips to the local Scottrade office, each time submitting the ID item they
requested. Each time, when I tried to access my account later, I found it still had a hold on it, I called the
local office (they did not call me), they called their Customer Identification program, I was asked to bring yet another item, etc.
This went on for several days. Their local rep did not stay on the case, their Customer ID people asked for
rediculous items (for example, after asking for a Driver License, they declined to accept that as ID).
I also thought the fact that one account was opened with no hold and the other inexplicably had a hold on it was
I wrote a detailed letter to Scottrade cataloging these events and 6 weeks later I received a boiler plate response from their
Compliance Department citing Patriot Act requirements.
I understand that there are those requirements, I made clear in my letter to Scottrade that I was not
complaining about that, I was saying that their Customer ID people misinterpreted those requirements and
caused me a lot of extra work. Also, the stock I asked to have transferred was held for two weeks during which time
it increased in value thereby causing me to have to pay more taxes on the Roth IRA conversion.
The Customer ID people and the local Scottrade rep were both incompetent and
unconcerned with customer support or satisfaction.
I am extremely annoyed that after the trouble I took to document this experience, I received a boiler plate response
that did not even address my complaint.
Entered zip code but the branch wouldn't take the call. It was about 11:50 am.
I pressed 1 after being prompted by a recording to get patched to the national support line and I got a representative to answer the phone a lot faster.
Pretty mild rating for customer calls.
I have been using Scottrade for about one year now, platform seems to have everything that is necessary for a good trading experience. After first opening the account I received a call from customer service, they were friendly and helpful and offered to schedule an appointment to visit a nearby branch to discuss how to properly use website/platform. After the visit I was surprised by how much interest they showed in helping me to become as familiar with their services as possible. H
I have always had excellent customer service with Scottrade despite my smallish account balance. My account manager at the branch calls semi-annually to ask how things are going and If I need any help with my account. I was even treated with respect when I went in covered in sweat wearing ripped jeans and a dirty shirt. My bank does not even treat me like that.
I recently transferred my brokerage account to Scottrade. Some mistakes were made in that some mutual funds appeared in my account that were not mine. Once brought to their attention, it was resolved. Also had an issue with my first online trading attempt, but that too was resolved on the same phone call. Overall, it seems fine. Their web site isn't the best, but it works for me.
I have always been pleased with my Greenville SC area Scottrade office. Recently, I have had to re-register several accounts, and Scottrade was faster and more helpful than the other brokerage firms I have been dealing with. When I have had a problem on-line, they have helped me immediately.
a quick note to commend to you mr jeff evans, district manager working in southern california.
mr. evans was patient, cooperative, proactive and courteous in dealing with an unusual problem that occurred with my account.
neither overbearing nor obsequious, mr evans employed an approach more or less that was
"what is the problem and how can we fix it for all involved?"
strongly advise that you keep your attention on mr evans as these are attributes too seldom found in the workplace today.
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