Commissions & Requirements
ScottradeELITE Stock Trading Requirements:
- You must have a Scottrade trading account with a minimum account value of $25,000 to download and use ScottradeELITE.
- You must maintain a minimum account value of $25,000 or you will no longer be eligible to use ScottradeElite.
- The account value consists of cash and all securities.
- No inactivity fees.
- All money and stocks deposited for equity must be credited to your account before trades can be accepted.
Stocks
| Internet Market and Limit Orders | $7 |
| Touchtone (IVR) Phone System | $17 |
| Broker Assisted | $27 |
For stocks priced under $1, add 1/2% of the principal value to the commissions shown. Some Foreign and Pink Sheet stocks must be traded with broker assistance. Commissions are charged on a per order basis. Limit orders executed over multiple days and orders modified after a partial execution on the same day will be treated as separate orders for commission calculation purposes. A majority of orders must be executed online to qualify for the online commission rates. Scottrade receives compensation for certain equity and option orders as described more completely in our Order Routing and Execution. Generally, this compensation will take the form of payment for order flow, profit sharing arrangements, liquidity rebates or possible trading profits if Scottrade executes the order as a Principal.
Options (Equity or Index) — Market and Limit Orders
| Internet | $ 7 + $1.25 per contract |
| Touchtone (IVR) Phone System | $17 + $1.25 per contract |
| Broker Assisted | $27 + $1.25 per contract |
| Option exercises and assignments | $17 |
Options may not be suitable for all investors.
Please click here for Characteristics and Risks of Standardized Options.
Mutual Funds
| Fund Type | Buy | Sell | Exchange |
| No-Transaction Fee (NTF) Funds* |
No Fee | No Fee | No Fee |
| No-Load Funds (not in NTF program) |
$17 | $17 | $17 |
| Load Funds | No Fee | $17** | $17 |
Mutual Fund orders placed through a broker are an additional $20. NTF and No-Load Fund shares purchased from Scottrade that are held fewer than 90 days will be charged a $17 short-term redemption fee in addition to the commissions above, except for Rydex, Profunds and Direxion funds, which are intended for short-term traders. With regard to No-Loads that are not in the NTF program, Systematic Purchase/Redemptions will be charged $2 per occurrence. Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund carefully before investing. The prospectus contains this and other information about a mutual fund. The fund's objectives(s) and risk level as well as sales charges, redemption fees, initial minimum investment requirements, expense ratios, and rules regarding market timing are fully disclosed in the prospectus. Prospectuses may be ordered online or through your local branch. The prospectus should be read carefully before investing. *NTF funds are subject to the terms and conditions of the NTF funds program. Scottrade is compensated by the funds participating in the NTF program through record keeping, shareholder or SEC Rule 12b-1 fees. **Not applicable if the fund charges a contingent deferred sales charge.
Canadian Orders
Canadian orders cannot be placed online. Quotes given by brokers are typically in Canadian dollars. Orders entered by brokers are entered in U.S. dollars. Please clarify with your broker if you have any questions. Add in the Canadian floor brokerage fee if buying, or subtract if selling:
- Stocks under $10: fee is .01 per share
- Stocks over $10: fee is .015 per share
- Vancouver charges up to $.05 per share for odd lot orders.
The following is a schedule of what is considered a round lot in the Vancouver exchange:
| Price in Canadian $ | Round-lot Size |
| .01 - .10 | 1,000 shares |
| .11 - 1.00 | 500 shares |
| over 1.00 | 100 shares |
Canadian exchange fees are charged in U.S. dollars. It is the client's responsibility to ask his or her broker if any additional Canadian fees may be applied prior to placing a trade. All fees are subject to change without notice.
Foreign Stocks
| Foreign stocks transfer in | $60 |
| Foreign stocks transfer out | $60 |
| Depositing Foreign Stocks | $100 |
| If the client requests a certificate | $250 |
Fixed Income Fees and Minimum Investment Amounts
| Products | Fees | Minimum Investment | Increments |
| Certificates of Deposit | Scottrade acts as principal | $10,000 | $1,000 |
| OTC Secondary Corporates | Scottrade acts as principal | $10,000 | $1,000 |
| OTC Secondary Municipals | Scottrade acts as principal | $10,000 | $5,000 |
| U.S. Treasury Bills, Notes, Bonds And Strips | Scottrade acts as principal | $10,000 | $1,000 |
| New Corporate Offerings | Scottrade acts as principal | $5,000 | $1,000 |
| Listed Corporate Bonds | $35 fee + $3 per bond | $1,000 | $1,000 |
| Unit Investment Trusts | $50 Liquidation fee (Liquidations only) | No new purchases | None |
When Scottrade acts as a principal the bonds will be subject to a markup or markdown.
Level II
Initially, you will be charged $10.00 upon accessing and agreeing to use Level II quotes. The initial $10.00 access fee cannot be rebated. Additionally, at the end of every month, $10.00 will be billed to your account. To avoid the $10.00 per month charge, just do 10 commissioned trades per calendar month. Trade frequency is checked on the last business day of each month. If you have executed 10 or more commissioned trades by the end of the trading day on the last business day of the month, the $10.00 will be rebated back to your account.
PLEASE NOTE: Level II quotes are optional. You can choose to enable Level II quotes after you have downloaded the ScottradeELITE platform.
TotalView
Initially, you will be charged $15.00 upon accessing and agreeing to use NASDAQ TotalView quotes(Level II quotes are included for FREE when you access NASDAQ TotalView quotes). The initial $15.00 access fee cannot be rebated. Additionally, at the end of every month, $15.00 will be billed to your account. To avoid the $15.00 per month charge,
just do 15 commissioned trades per calendar month. Trade frequency is checked on the last business day of each month.
If you have executed 15 or more commissioned trades by the end of the trading day on the last business day of the month,
the $15.00 will be rebated back to your account.
PLEASE NOTE: TotalView quotes are optional. You can choose to enable NASDAQ TotalView quotes after you have downloaded the ScottradeELITE platform.
Technical Requirements
Minimum - Windows 2000 with Internet Explorer c5.5 (or later), 256+ meg of ram, 100+ meg free harddrive storage, and a 56k modem.
Recommended - Windows XP, Internet Explorer v6 (or later), 256+ meg of ram, 100+ meg free harddrive storage, and a broadband dsl or cable modem.
