Complaint / review text:
If you look at Scottrade 606 Reports, you’ll find clearly that the company exposes its customer to High Frequency Traders (HFT). After paying Scottrade $7 to perform a trade, the company turns around and sold our transactions to HFT. This alone costs us a lot of money. Scottrade routes most of our transactions to Knight Capital, Citadel and NES… all HFT. We are by the same company that’s supposed serve as our broker… Others respected brokers are trying to save their customers from exposing their transactions to HFT but this company is increasing our exposure (check 600 reports from previous 3 quarters). How can a broker as this expect little guys like us to play with HFT who have their machines in the same data centers as the exchanges? I just don’t have any respect left for this company.