Scottrade launches social networking site

Scottrade launches social networking site

US online brokerage Scottrade has introduced a social networking site that traders and investors can use to share ideas, strategies and tools through discussion groups, blogs and videos.

Scottrade recruited Texas-based Small World Labs, a provider of enterprise social media systems, to develop the password-protected Web site, which "launched quietly in April" to select customers and is now open to all clients.

Investors can use the online community to access trading tools. communicate with each other through discussion groups and blogs and other resources including tips, articles, layouts, filters and spreadsheets.

"Today's investors and traders thrive on information. Scottrade's Online Community is a whole new way for our customers to get information," says Kristin McDougall, customer education manager at Scottrade. "Best of all, the information is coming from people who are just like them."

Scottrade says clients can also use the site to provide feedback to on its trading tools, products and platforms.

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