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Scottrade is pretty expensive when it comes to options trading. I also have accounts at TD Ameritrade Review and Ally Invest Review and find them much more affordable when executing a lot of options contracts.

Because they cater to this demographic, they have less powerful online trading platforms and less competitive pricing for options traders than many other competitors that cater to this niche. Scottrade OptionsFirst Trading Review They also have over local branches where you can get additional service, deposit funds and get advice. Scottrade is known for their excellent customer service. They really do care about their customers. They also offer mini lot options trading for the following ticker symbols: Apple Inc AAPL Amazon.

Pricing is still the same as with standard contracts. Scottrade Opening Account Opening and funding your account is easy. There are five ways to fund your account including: Electronic funds transfer 2.

Send a check to a local branch 3. Transfer an existing account 5.

These agreements are like FOREX or futures agreements and just have you sign that you understand the risks involved with options trading. It can take days to get your options account all setup and active.

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One of the big disadvantages that Scottrade OptionsFirst has over their competitors is their cost basis as you trade more contracts or complex strategies. Scottrade OptionsFirst Review Scottrade has a platform named OptionsFirst to help you execute advanced options strategies like straddles, strangles, butterflies, condors, collars and spreads. The platform is free with an options account and is very useful in executing more advanced trades. There is not a discount for executing these more complex trades though like at other brokers such as TD Ameritrade options trading review.

They also have another advanced tool called ScottradeELITE which is for advanced traders.

The annoying thing here is that you really have to use both tools, one for executing the trade and the other for chart analysis. You need a modest account balance to gain access to ScottradeELITE. Other brokers roll these functions into one tool and give it to every account holder for free, regardless of account size. As I became a more advanced trader, I decided to move my accounts to other brokerages that offer more services and better pricing for options.

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I no longer use Scottrade OptionsFirst for any of my investment accounts because I graduated from basic trader status and now trade options, FOREX, stocks on domestic and international exchanges and bonds. Scottrade OptionsFirst Promotion Link Open account and start saving with Scottrade today.

Etrade vs Ameritrade vs Fidelity Is Betterment legitimate? Best full service stock brokers Brokerage clearing firms Best investing companies for beginners. See Terms of Use. OptionsFirst - Scottrade Options Trading Platform. Scottrade OptionsFirst Trading Costs I had been a client with Scottrade for seven years and traded stocks, options and bonds through their brokerage. All rights are reserved.