This page will serve as a living document for things I learn related to Scottrade and other brokerages.


  • You can transfer assets between brokerages for free by using the ACATS system


  • Commission runs $7 per trade (and potentially more if the share price is less than $1), $25 per tender offer and significantly more for bonds
  • Traders must pay commissions on any buy-in that happens, even if it is mandated by the brokerage
  • You can pile up a ton of free trades by posting your referral code online. They expire in… 3 months? And will often disappear if you attach them to a trade and then cancel the trade.
  • Scottrade will automatically link into TurboTax within TurboTax’s software

– Separation of long and short accounts in calculation of interest

– Scottrader Elite

– VBA Scraper

Interactive Brokers:

  • Commission is complicated depending on which of two structures you choose, but dirt cheap either way. I pay roughly $.00035 per share
  • Margin is also complicated, but essentially there’s a maintenance margin on long positions of typically 25% and variable for short positions, but generally the higher of $2.00 per share and 100% of the short position
  • Long and short accounts are also separate for calculation purposes – no interest is charged on the short account, but can be charged on the long account
  • IB can produce a tax file that ports straight into TurboTax

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