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tradeMONSTER

By on November 6, 2012
Editor’s Rating
Tools & Research
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tradeMONSTER has been rated as the best web only broker by Barron’s in its 7th review of online brokers. They offer investments in bonds, mutual funds, stocks, options and ETF’s.

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


tradeMONSTER – The Basics:

Investments: Stock, options, bonds, futures, mutual funds and ETF’s.
Commissions: Stocks and ETF’s cost $7.50 per trade. Options are $0.50 per contract, have no base fee and a minimum of $12.50. Each transaction in mutual funds costs $15. There is no fee for selling. Futures cost $1.50 per contract. Bonds have a minimum of $15 with an additional of $1 per bond. The rate for broker assisted trading is $22.50.
Investor Education: Comprehensive education package which ranges from platform training to free seminars and webinars on trading.
Mobile apps: iPhone, Android, Blackberry

 

Other Notes:

tradeMONSTER provides good research amenities: advanced tools, free streaming quotes, scanners and third party reports are all exceptional.

Sadly, they do not yet have an online trader community, but they do have a rep for providing great customer service; their executives can be reached via phone, email and live chat.

TradeMONSTER is a premium broker for options traders.

A minimum deposit of $2000 is required to open up an account at tradeMONSTER. Find out how you can trade free for 30 days when you apply for an account now.


Pros & Cons Of tradeMONSTER:

Pros Cons
  • No fee IRA.
  • No account maintenance fee.
  • Access to free virtual trading.
  • Good rates for margin accounts.
  • Mutual funds can be sold without incurring additional cost.
  • Great for options trading.
  • Platform is suited for beginners.
  • Responsive customer service.
  • No 24/7 customer service.
  • No mobile website.
  • No app for iPad.
  • Weak charting capabilities.
  • Additional fee for after hours trading.
  • If value of stock is less than $1 then an additional $0.0005 per share is charged.
  • Trading tools are not intuitive.

How Others Rated tradeMONSTER In 2012:

Barron’s: 4.5/5 stars

          Highest rated category: Portfolio analysis and Reports

          Lowest rated category: Costs

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…

According to Barron’s review this year, TradeMONSTER is the best online brokerage for options traders. That is mainly because of the powerful browser based tools offered to its investors. Besides that they also provide traders with powerful scanning tools and credible third party research reports.

Overall takeaway: Very well-rounded broker suitable for both new investors and experienced traders. Great suite of tools for finding opportunities and managing risk. TradeMOMNSTER can help you become a more disciplined investor.


tradeMONSTER Promotion Code:

Hit the link below to claim the latest tradeMONSTER promotion. Click below to claim promotion code Trade commission free for 30 days at tradeMONSTER

Where To Open A tradeMONSTER Account:

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

Open An IRA Account With tradeMONSTER: Apply Here

Open A Forex Trading Account With tradeMONSTER: N/A


P.S. Don’t forget, if you’ve used tradeMONSTER 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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