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By on November 1, 2012
Editor’s Rating
Tools & Research
Ease of Use
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PlaceTrade is an American brokerage house based out of Raleigh, North Carolina. It is headed by Sarah Place. They offer investments in stocks, options, mutual funds, ETF’s and bonds.

In this PlaceTrade review, I'll cover what PlaceTrade has to offer, who they're right for, and give you guys some links to the latest PlaceTrade promotions. If you've used PlaceTrade before, please add your own rating and review below.

PlaceTrade – The Basics:


Stocks, options, mutual funds, bonds, ETFs.


Each stock and ETF transaction costs $0.01 per share (minimum of $2.95). Options cost $0.75 per contract. Closed end mutual funds cost $0.01 each. Other funds are charged as applicable by the mutual fund firm. Bonds which have a face value of or below $10,000 have a trade value of $0.15, a minimum of $5 and maximum of $10. Otherwise, bonds have a face value of $0.0375, a minimum of $5 and no maximum at all.

Investor Education:

Excellent education center provided via by Interactive Brokers. You get courses, videos, webinars and interactive tours to name a few things.

Mobile apps:

Available for iPad, iPhone, Android and Blackberry. These apps allow you to view real time stats, monitor and execute your trades, and manage account portfolio and balance.


Other Notes:

PlaceTrade uses the excellent trading platform provided by #1 rated Interactive Brokers and combines it with a great personalized customer service. Customer service executives can be reached via phone, live chat and email. They have also launched an investor education and training program to help you make better trading decisions.

The tools provided by Interactive Brokers have been proven to be very helpful while looking to do some market research. Besides that, access to some great third party research reports has also been provided. PlaceTrade also has an active community of traders that can help you in making your decisions as and when you need help.

A minimum amount of $5,000 is required to open up an account ($3,000 is required to open up an IRA account). Apply for an account now.

Pros & Cons Of PlaceTrade:



  • Each account insured up to $30 million.
  • Trading platform provided by Interactive Brokers.
  • Access to over 90 international markets from 19 countries through a single account.
  • Personalized customer service.
  • No transfer fee while opening a new account.
  • Access to stimulated trading through paper trader.
  • No fee IRA.
  • Initial deposit of $5,000 to open an account.
  • Deposition of $3,000 for IRA accounts.
  • Website generates a new page with every click.
  • Limited selection of mutual funds.

How Others Rated PlaceTrade In 2012:

Barron's: 4/5 stars

          Highest rated category: Usability

          Lowest rated category: Range of Offerings

Smart Money: N/A (not rated)

          Highest rated category: N/A (not rated)

          Lowest rated category: N/A (not rated)

Word On The Street Is…

PlaceTrade is a great brokerage which combines soft, personalized service with the superior technology of Interactive Brokers. That is what makes this brokerage such a potent force. Not to mention, they have some of the lowest commission rates on the block.

Overall takeaway: The technology used by PlaceTrade may not be a great starting point for novice investors. Experienced traders will really like this brokerage because of the great technology, and the great customer service.

PlaceTrade Promotion Code:

Hit the link below to claim the latest PlaceTrade promotion. Click below to claim promotion code Sorry, there are no currrent promos running. Click here to apply for an account.

Where To Open A PlaceTrade Account:

Open A Personal/Joint/Custodial/Business Account With PlaceTrade: Apply Here

Open An IRA Account With PlaceTrade: Apply Here

Open A Forex Trading Account With PlaceTrade: N/A

P.S. Don't forget, if you've used PlaceTrade before, please help us by adding your rating and review below!

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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