Scottrade Account Types
Scottrade offers a full line of investment and banking accounts to suit your investing objectives and money management needs. Most accounts can be opened online, although some require completion of physical forms. Contact your local branch if you need assistance.
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Brokerage Accounts
Individual Account
Standard Brokerage Account for one person. This general investing account may be used to self-manage a diversified portfolio. This account is eligible for margin borrowing, options trading and Money Direct® instant funding. Some services are subject to approval. Apply Now
Joint Account
Standard Brokerage Account for up to three people. This general investing account may be used to self-manage a diversified portfolio. This account is eligible for margin borrowing, options trading and Money Direct® instant funding. Some services are subject to approval. Apply Now
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Banking Accounts
You must have a Scottrade brokerage account to open a Scottrade Bank account.
Checking
Get all the convenient features you expect, including a free ATM/Debit Card with free withdrawals*, free standard checks and online bill pay, easy fund transfers, overdraft protection and the convenience of direct deposit, with the added benefit of an interest-bearing account.
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Savings
Earn interest while you save for a special purchase or unexpected expense with the added convenience of direct deposit and easily managed fund transfers between your brokerage and bank accounts.
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Money Market
Get the most out of online banking with an interest-bearing Scottrade Money Market account that makes it easier to manage your money, helping you to achieve your investing and cash flow objectives.
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CDs
Invest in a Scottrade Certificate of Deposit with confidence – if our interest rate increases within 10 calendar days of opening, we will give you the higher rate for the full term of your CD.
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*Unlimited ATM fee refunds apply to cash withdrawals using the ATM/Debit Card wherever it is accepted. ATM fee refunds only apply to fees assessed for using an ATM to withdraw cash from your Scottrade Bank account. Scottrade's ATM fee refund policy does not include currency exchange fees, fees imposed by merchants for POS transactions, fees for stamp purchases, or any transactions other than an ATM cash withdrawal from a Scottrade Bank account. Scottrade Bank makes its best effort to identify those ATM fees eligible for refund, based on information it receives from MasterCard and ATM operators. In the event that you have not received a refund for a fee you believe is eligible, please contact your local Scottrade brokerage branch office for assistance.
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Retirement Accounts
Traditional IRA
Retirement Savings Account for one person. This investment savings account provides tax-deferred growth and potentially tax-deductible contributions. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
Roth IRA
Retirement Savings Account for one person. This investment savings account provides potential tax-free withdrawals after a certain retirement age as defined by current laws. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
Rollover IRA
Retirement Savings Account for one person. This investment savings account is specifically designed to receive transfers from a previous retirement plan. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
SEP IRA
Simplified Employee Pension Account for self-employed and small business. Please consult your accountant for the tax advantages associated with this account. This account is eligible for Money Direct® instant funding. Apply Now
SIMPLE IRA
SIMPLE Account for self-employed and small businesses. Please consult your accountant for the tax advantages associated with this account. This account is eligible for Money Direct® instant funding. Learn More
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Custodial/Guardian Accounts
Coverdell Education Savings Account
It is never too early to start saving for a child’s future educational needs, and the Coverdell Educational Savings Account (ESA) offers a number of benefits client’s may want to consider when evaluating investment options for a minor. This ESA has tax-deferred earnings for qualified education expenses. This education savings account may be used to provide for the primary, secondary or college education costs of one designated beneficiary. Only special needs beneficiaries may receive contributions after age 18. Apply Now
Guardianship
An investment account established by a Guardian may help to provide future financial security for a minor through investing opportunities not possible in other accounts. This account type allows a court-appointed guardian to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Custodial
A Custodial account offers a unique opportunity to teach a minor the ins and outs of stock trading, and the importance of financial planning, while ensuring adult oversight. These accounts allow an individual custodian, not a trust or legal entity, to open, fund and manage an account with trade authority for the benefit of a minor under the Uniform Gifts to Minors Act. Custodial accounts have certain restrictions, and both the minor and custodian should be listed on the application. Apply Now
Conservatorship
Managing the investment portfolio of a minor or special-needs adult is a unique challenge that a Conservator account may help alleviate, as it allows a court-appointed Conservator to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open a Conservator account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
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Specialty Accounts
Trust Account (Testamentary)
A testamentary trust is created through the will of a deceased person. Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Trust Account (Non-Testamentary)
A non-testamentary trust will generally have a living grantor(s). Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Keogh / 401(k) / Money Purchase / Profit Sharing / Pension Plan
Defined Benefit plans designed for the employees of a company. A Qualified Plan Certification Form is required to open this account. Additional forms may also be required. Apply Now
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Business Accounts
Investment Club
A brokerage account that is owned by a group of people who pool their assets and make joint investment decisions. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Corporate
A business account for Corporations. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Partnership / Limited Partnership
A business account for Partnerships and Limited Partnerships. Only General Partners can trade in a Limited Partnership Account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Sole Proprietorship
A business account for a natural person doing business in his/her own name. Supporting documentation will be required for this account. Apply Now
Limited Liability Company (LLC)
A business account for Limited Liability Corporations. Supporting documentation will be required to apply for this account. Apply Now
Association or Non-Corporate Organization
A business account for Associations and Non-Corporate organizations. Supporting documentation will be required to apply for this account. Apply Now
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