tradeMONSTER Online Stock Broker Review

by Hu$tler on August 19, 2011

in Investments

tradeMONSTER is an online trading platform that offers competitive rates, the latest online trading technology, and a full suite of trading tools, and in order to prove it to you, they are offering $250 to cover your old broker’s account transfer fees.  Owned by optionMONSTER, a financial media company that publishes financial market analysis and commentary, tradeMONSTER has been around since October 2008 and is considered one of the newer competitors in the discount broker world. Known for their streaming customizable trading interface, tradeMONSTER offers commissions that are comprehensive and with no hidden fees, help is available 24 hours a day in their learning center and best of all, they stream free real-time quotes.

Key Features:

  • Stocks and ETFs: $7.50 All stock trades are a flat-rate of $7.50 per trade regardless of order type, size, and stock price. For any trades made in pre or post market hours trading though there is an additional charge of $.015 per share.
  • Stocks and ETFs broker assisted: additional $15
  • Options: $0.50 per contract (minimum $12.50 for single leg orders and $15 minimum per spread for multi-leg orders)
  • Futures: $1.50 per contract
  • Options on Futures: $1.50 per contract (excluding exchange fees, NFA fees, overnight and platform fees as applicable)
  • Mutual Funds: $15 to buy, $0 to sell
  • Bonds: $15 (Municipal, Corporate, Agency, Treasury)
  • Investments: stocks, options, mutual funds, bonds, ETFs
  • Minimum to open account: $2,000

Setting up an account takes takes about 12 minutes; everything is entirely online- even your signature. There is no minimum to open a virtual trading account, paperTRADE, which gets you access to all the features of a full account (however, there is a $2,000 minimum-cash or stocks- to open a real trading account). This virtual trading account is immediately funded with $100,000 of virtual money so that you can start familiarizing yourself with the trading tools and begin practicing trading. Through their online trading platform, you get free access to all of their trading tools, including streaming real-time quotes, charts, and option chains. Their powerful and flexible webbrowser-based trading platform allows you to customize just about everything with tools for charting, trending, and drawing your own patterns on the charts. Additionally, tradeMONSTER also has an adjustTRADE manager feature that helps you examine how you can protect a stock position, bring in additional portfolio income, or exit a trade.

An innovative online brokerage specializing in active trading, options trading, and robust stock trading platforms, tradeMONSTER has been awarded by Barron´s Magazine 4.5 stars for our Portfolio Analysis & Report features and 4 stars for Research Amenities. It is obvious that tradeMONSTER provides a great platform that is easy to learn and suitable for either the beginner or seasoned trader. Sign-up today and start seeing if tradeMONSTER works for you.

 

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