Are you out of your mind? Scottrade gets paid for orderflow. AND they sit on the board of directors for NITE! They charge $7 a ticket. $14 rt + sec fees. OK for unlimited shares. If you scalp only 1 or 2 lots, you'll get killed! AND only 2:1 margin; cash required to play size. They have ridiculous away-increments for limit and stop orders. Forget anything else, this prevents successful scalping. Shall we talk about thier feed?
Not for scalping, IRA trading only. Won't even CONSIDER opening a standard account for reasons (plus others) mentioned.
Yes you can scalp with Scottrade, I did it successfully for a while until they started enforcing the 25K equity rule. You can't scalp Naz stocks - as mentioned above Scottrade works with/for NITE. I was naive enough to believe that NITE wouldn't bother to take the time to slam a small retail trade like myself, but I was WRONG. Right after buying I turned around to sell a Naz stock and they yanked all the bids down almost a full point on a $6 stock. Stick to NYSE stocks and use limit orders if your type of trading permits limits. If not, then Scottrade is not a good platform for scalping.
Funny you make this thread today, because I just had a scalp less than an hour ago in SNDK..made .70 in 5 minutes. I agree with the other posters, even though Scottrade is good, dont try scalping with them. For one thing, commissions are just too high..MAYBE if they had a per share plan to choose from, but they dont. I think in the near future though Scottrade might come down on commissions to compete with TD's 5.00 a trade for their I-zone platform and MB's Navigator. I dont have elite, do you pay extra for L2? cm