Scottrade brokerage account interest rate


By borrowing money from your brokerage firm, you can create more sizable gains and losses! The amount of money loaned to you for purchasing securities is subject to given interest rates. Additionally, you can find the current rates for most brokers right on their website.

For example, Scottrade lists their rates here. As illustrated above, Scottrade currently charges 7. So, scottrade brokerage account interest rate other words, if you have borrowed 10k or less in your scottrade brokerage account interest rate account, Scottrade will collect an interest fee monthly.

Good info on how interest works Trevor, thank you. One thing readers might need to know is the breakdown of interest cost as per length of the loan held. For day trading where the loan is held for the shortest possible time frame not overnightor short term trades such as a few days or a week or so, the interest is far less. Mail will not be published required. Valentines Day 3. Question From Reader 4. Import Excel Budget 5. Why Gas Fluctuates 7. Our Fun Money Fund!

Gas Will Go Up! Update Budget Daily Google Docs vs Excel. In other words, the more money you choose to borrow, the lower interest rate you will receive. What is margin trading? What is a margin call?

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