If you are in the broking sector for the past few years, you might be familiar with the fact that Scottrade services are being completely closed now. Scottrade was considered to be one of the leading online brokerage firms consistently from the past few years and included more than 3 million accounts in the United States.
The asset rates are also higher but still, the thing is quite surprising that if everything was going well, what puts impart in the closure of Scottrade. Scottrade is now completely being acquired by one of the leading brokerage firm TD Ameritrade on September 18, 2017. The conversion of all the accounts from Scottrade to TD Ameritrade has been completed now.
If your Scottrade also has been transferred to TD Ameritrade and is facing a problem in login to your account, the guide will lead you towards a sure short help now. Moreover, we will also prefer here to discuss facts like why did Scottrade lose and what happened to Scottrade accounts later. So, let’s get started with the world of information with us.
What are the reasons for Scottrade closer?
Scottrade was one of the leading broking firms at its time that was being established in the year 1980 by Rodger O.Riney. The firm was quite huge and is supposed to have more than 500 branch offices throughout the United States. The firm offered a full lineup of investments in various sectors like bank accounts, market research, trading services, etc. Now, the question arises here is that everything was so right why did Scottrade announce sudden closer.
The purchase of about $4 billion of cash and stock by TD Ameritrade of Scottrade leads to the final closing of this wonderfully working broking site. Both of the companies further lead to the final agreement in October 2016 and it took over a year to complete the process and the final acquisition was announced further on September 18, 2017.
What happened to the Scottrade Accounts?
One question that can arise is that what had happened to the Scottrade accounts once the final acquisition occurs. The Scottrade bank accounts got closed on February 17, 2018, once after the acquisition occurs. They were then further transferred to Scottrade brokerage accounts and the checks were sent to close the accounts.
The Scottrade brokerage balances were transferred to the customer’s new TD Ameritrade brokerage accounts. To make the entire process much easier for the customers, the entire transition process was planned to be quite seamless.
How to login Scottrade on TD Ameritrade?
Users are now free to login to their new TD Ameritrade accounts just by using their pre-existing Scottrade account numbers and user IDs and password options. If you are finding it hard, we are also providing you with the step by step Login Scottrade on TD Ameritrade account.
- Launch your web browser and then make a secure login to your account.
- You will be now asked about Scottrade’s account number and UserID field. Just enter it very carefully to move further with the pr
- Once done now enter your Legacy Scottrade password.
- You will be now free to explore and invest your money in the new investing site.