Placing a stock trade on Scottrade is simple enough. Yet, you need to know the steps before you finally be able to place it for the first time inScottrade. There are some steps that you can easily follow. The steps are divided into initial and final steps. Once you follow the initial steps you can easily understand how to do the next up to the final steps.
The very first step is Scottrade login. The way to log into the account is the same as what you do when you log into your E-mail or social network account. You have to enter the username and the password. Scottrade also has a security system which instruction should be followed. Next, you should choose trade navigation bar in which you will find a form for stock order entry. Here, you can choose whether you want to buy or sell. Everything will be easier for you if you have an account in Scottrade bank. The way it works is the same as that of the other bank. What makes it different is the account type. You have to have around $500 and an individual, joint, or IRA account. You can do each transaction online through a secure system.
The last two steps are setting the limit price and clicking the review order button. Even though these are the final steps, these are not less important. You have to know what setting the limit price mean. Let’s say that you want to sell your share. You want to sell it for $40, for example. However, you are unsure that the company from which you obtain the share will reach $40 today. This will be your consideration to click GTC button. GTC is the abbreviation for Good ‘till Cancel. It means your share will remain in the market place until there will be buyers who offer to buy the share as much as the amount that you set in the limit price. The very last step is clicking the review order button to make sure that you have filled the correct data. You can also open other accounts on Scottrade such as Roth IRA in case you need it and the account suits your need. It will help you a lot especially if right now you are preparing for the investment after you are retired. In the official website you can also find information about kinds of Scottrade fees which may be helpful for you.