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Scottrade, Inc.


Country United States
State Washington
City Spokane
Address 711 W Main Ave
Phone 800.619.7283
Website https://www.scottrade.com/

Scottrade, Inc. Reviews

  • Apr 10, 2019

After the wall street scam using flash crashes stole over 40k of MY money, these guys said the owners, aka US federal govt, slave owners demanded they close my account. Then they kept the money. I got NOTHING from these criminals! Now I need an attorney, and I am on 100% disability.

  • Aug 23, 2016

Eugene Office Manager made disparaging comments about myself in repeated internal emails. I just happened to have discovered one of the emails because he sent one to me in error. The email I saw was a continuation of prior communications.

Repeated incompetence and ego-protection as relates to a promotion. I was repeatedly told if I deposted $10K I would not be able to withdraw any of it while in the duration of the promotion period. I tried to make t clear to them how preposterous that was as if my account increased appreciably such as climbing $20K, I see no reason why I couldn't withdraw an amount so that my account balance would still be at least $10K more than it was just prior to participating in the promotion. Even reading the wording of the promotion it said this.

However, one person after another and one in particular kept arguing with me about it and saying I was wrong. It turns out I was correct and then all the ego-protection occured such as "We were apprised of the promotion in a meeting but we didn't read the details". LOL. Oh come on! How about once reading the details as I did? It still couldn't click in their minds so they had to have a pow-pow to make certain they knew what they were talking about?

Well, going through this muck got me so angry and depressed, I missed one of the few times the market wasn't being manipulated up and missed a trade that is currently at a price nearly half of the opportunity I would have had had I not been put through so much muck! For an active trader and one who is far on the correct side of fair value for this masked depression, that one missed trade opportunity makes for an untold compounding effect and I have not recovered yet, even after 5 months.

And so not only did I miss my trade from dealing with all the incompetents and goign in circles and so often the stupid employees were arguing with me and even to the point that they were making disparaging comments about myself when they were the illogical and stupid ones, it infuriated me so much I could hardly function. I just couldn't beleive that such highly paid individuals could screw up so badly. I am out from gettig the promotion, out from the badly needed trade that I get few opportunities ever in making, and I had to leave the company which caused a big hassle and problems in dealing with a new interface causing just one more missed trade that I wouldn't have missed otherwise.

Scottrade is stacked with incompetents and when you have a branch manager sayign crap about you, it does not make for a porfessional operation.

Stay far away from the Scottrade Circus Operation.

http://scottradecircus.blogspot.com/

  • Nov 9, 2015

Plain and simple: Scottrade has enormous hidden fees and cost me over $200.

I opened an account with Scottrade a while ago and the branch manager that assisted in the account opening pretty much swore that the only fees are the $7 per trade. Well that could not be more false. The additional and hidden fees at Scottrade are enormous and Scottrade does charge more than $7 per trade.

What is most worrisome is that Scottrade could not explain each one of these fees for me and instead repeatedly asked me to call the national center for advice. The national center could not answer them either, only stated that they would get back to me within a week.

Well, it has been a week and I have still not heard of any explanation to the fees and whether I will get any reimbursement to my account. My advice to others, don't be a victim of this company and take your money elsewhere.

  • Nov 9, 2015

After being personally frustrated attempting to resolve an account hacking that likely occurred at a result of Scottrade's recent data breach, I can honestly say I felt a strong desire to warn others about Scottrade's behavior.

If you are unaware, Scottrade requires you to sign an "Arbitration Agreement" and prohibits you or Scottrade from using a court and jury to settle disputes. Instead, you are required to file Arbitration.

In my situation, after my account was hacked and hundreds of thousands of fraudulent trades took place, I took all of the steps as outlined by Scottrade requests. I even got 3 different police reports, multiple notarizations, etc, however, Scottrade stated that they will not refund money as a result of account hacks.

I asked Scottrade how I could utilize the dispute resolution process with Arbitration because Scottrade does not include details of the arbitration forum or how to initiate Arbitration and instead responds with boilerplate letters that the issue should be resolved in the appropriate forum.

I had previously asked Scottrade for a copy of the arbitration agreement and they refuse to respond.

It seems to me that Scottrate unscrupulously, requires customers to sign an arbitration agreement but does not provide details on how to initiate a dispute via arbitration, effectively shielding themselves from all potential disputes and firmly stripping the rights of customers away.

I can not put this more simply, if there is any dispute with Scottrade, they will provide a lacking and unhelpful response (to please regulators who count papers) and then direct you to Arbitration while simultaneously refusing to provide any details about the Arbitration.

Perhaps unsurprisingly, Scottrade has engineered almost 100% protection from any liability as a result of their wrongdoing.

Do not do business with Scottrade.

  • Oct 29, 2015

Mr. Lance Chuck (FINRA CRD# 5216215) instructed me to send highly sensative personal banking information via insecure email on July 13, 2013. Mr. Lance's actions were against Scottrade's privacy policies and against standard data storage and transmission tactics.

The personal information included my SSN, Bank Account Numbers, Physical Address, Financial Information, Identity Documents, and Signature Images.

Mr. Chuck incorrectly assured me that the information was secure, however, this was not the case. Indeed, on July 25, 2013, roughly 12 days after sending an email to Mr. Chuck my Scottrade accounts were hacked and over $800,000 dollars worth of fraudulent trades were initiated.

I followed up with Scottrade about the fraudulent trades and insecure data policies and was harassed after submitting the information to the SEC's Office Of The Whistleblower.

To better understand what happened, I also asked Scottrade whether the email was later encrypted and whether it was stored or backedup in an encrpted manner. Scottrade and Mr. Chuck refused to respond to my requests for information.

As a warning to all of the current Scottrade customers and potential customers researching broker/banks, I would highly recommend that you do not conduct business with Scottrade.

  • Oct 28, 2015

I am writing to express my concerns about a behavior of Scottrade Bank and their affiliates which may have adversely exposed my personal information and lead to identity theft and fraud.

Specifically, in going through my records in order to better understand how I could resolve ongoing identity theft, I discovered that when applying for a bank account at Scottrade Bank, Scottrade Bank improperly handled a number of documents which had very personal information on them. The actions of Scottrade Bank not only broke from the current standards of data security but also broke Scottrade Bank's internal policies regarding handling customer information.

Specifically, on or around July 13, 2013 (China Time), Mr. Chuck, a regional manager from Scottrade Bank offered to receive Scottrade Bank account application documents via email. Email is a notoriously insecure medium of communication yet Mr. Chuck allowed and offered to receive the documents via email, despite the fact that it was against Scottrade Bank's internal policies and does not have any of the normal safeguards in place to handle personal customer information. The July 13, 2013 email contained PDF attachments that included my full name, signature, address, bank account numbers, Social Security Number, and other very personal and sensitive information.

As is clear by Scottrade's online disclosures and policies, Scottrade Bank states that it will never transmit customer information over email and or ask for or receive personal information via email, however, Mr. Chuck, a manager at Scottrade encouraged me to send the information by email to expedite the process, with no disclose of the security concerns. I am writing today to ask Scottrade to explain, in a public forum, why they let my personal information be transmitted in a way that puts me at significant risk to identity theft.

I would also like to know what the current status of the email and personal information is, has it been deleted, has it been accessed, are emails records secure, who could have gained access, was the email accessed via HTTP or HTTPS, was it confirmed a secure connection?

The actions of Mr. Chuck, put me at my personal information at risk and could have likely been the direct cause for hackings that happened weeks latter and accounted for over 800,000 of fraud.

  • Oct 14, 2015

In 2013 I applied to the Scottrade Brokerage by phone from Richland Wa. Someone named Brian helped, but the 2nd person was so rude, I never funded my account.

On October 8, 2015 I received a notice by email that the company was hacked. They gave a number for AllClear (security) to provide security, but now on hold for over an hour, no one picks up. Sloppy service here as well.

Although I spoke with Scottrade staff (National level) and was told, that even as the email mentioned Social security numbers were accessed I was told by phone mostly they thought the "contact" information was used? I asked if they had deleted the account since it was not funded and they had. But 2 years later clients are now being informed.

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