Owned by financial company optionMONSTER, tradeMONSTER was established in October 2008. Its recent entry has no way deterred it being one of the most sought after discount broker in the market. optionsMONSTER was founded by Pete Najarian and Jon Najarian . You may spot them on CNBC for their valuable advises. Pete is visible on Fast Money quiet often. tradeMONSTER is growing by leaps and bounds in the world of online brokerage companies as we speak. They are looking at rapidly increasing the customer base and to become one of the major discount brokers in the United States of America.
Offerings at tradeMONSTER:
tradeMONSTER prides itself in its technology to provide powerful , reliable and customer friendly tools . It has an innovative platform that would work brilliantly on any browser ( Mozilla, Explorer , Chrome , etc. ). It also is enabled to create an account for you and you can try and practice and have a portfolio of your own. You can experience the state of the art technology platform and appreciate the special features that we have. A recent new addition is trading on the cell phone feature to enable users to trade using their cell phone.
Advantages and special features that come with tradeMONSTER
- A very strong, robust and innovative platform that is browser based and is fully customizable
- A very strong backend support with qualified investor analysts and savvy staff
- The platform doesn’t require tedious downloading on the client system. It works on any browser and is customizable. It means, you can start trading on the go
- One of the lowest margin rates in the market. As low as two point five percent
Challenges while dealing with tradeMONSTER
- Option to select tax lot not available
- Research may not be available exhaustively
- Community experience missing while using tradeMONSTER
Not much may be known about tradeMONSTER but it definitely does not mean that tradeMONSTER is missing on any of the parameters. The value offered is great, their commissions are economical and their trading platform is much talked about in the community of online trading.
A Deep down Analysis of TradeMONSTER
How to open an account on tradeMONSTER
- Opening an account with tradeMONSTER is the easiest part.
- It takes five to ten minutes maximum to open an account
- Setting up an account takes you through only three screens and you are done
- It is easy to set up a paper account and it requires no deposit
- To open and start trading in the real markets it requires a deposit of two thousand dollars through cash or stocks
Commissions and Fees for trading on tradeMONSTER
- tradeMONSTER has paper trading option to get you acquainted to the real time trading environment.
- Commission for stocks is seven dollar fifty cents per trade
- Options Single-Leg pirces at 50 cents per contract with the limit of minimum of twelve dollars and fifty cents
- Multi Leg Options are available at fifty cents per contract with the limit of minimum of twelve dollars and 50 cents
- Mutual Funds are available at a buying commission of fifteen dollars and selling commission is absolutely free
- Bond commission is fifteen dollars
- Margin fee is equal to the base and an additional of 3.25%. In case you half greater than fifty thousand dollars then the margin fee goes down to base plus two and a half percent
- Above all there is no additional costs for trades which are broker assisted
- To save further on the costs tradeMONSTER does not attract any fines or penalty for inactivity
- The icing on the cake is that the state of the art technology platform comes with no additional cost
- There is a fifty dollar fee for outbound Automated Customer Account Transfer
What are the types of investment offerings at tradeMONSTER:
tradeMONSTER provide investments in :-
- Equities/ Stocks
- Exchange Traded Funds
- Over a collection of five hundred mutual funds
- Also on the offerings are fixed income investments
User Friendly platform:-
Without a doubt tradeMONSTER has a unique platform which is the best in its kind. tradeMONSTER prides in its technology platform and also promotes paper trading for customers to get used to the platform without incurring any real damages.
With tradeMONSTER you would use a browser platform and will start enjoying to trade on the first day
- Customer care is available round the clock providing service seven days a week and twenty four hours a day
- The care team comprises of highly qualified personnel who are or had been involved with trading. The care team comprises of series seven registered brokers
Recognition of tradeMONSTER in industry – Awards won by tradeMONSTER
- tradeMONSTER won the Best for Options Traders by Barron’s in the year 2010
- It also won the 4 stars for research amenities again by Barron’s for the year 2010
- It has won the prestigious four and a half stars for Portfolio Analysis and Report features. This is the highest rating ever achieved in this category.
- Real time quotes of equities
- Allows learning how to trade through paper TRADE option on its platform
It costs nothing and is a great tool to help you learn trade
- An important functionality is adjustTRADE that helps you protect or exit a trade
tradeCYCLE: Provides you a plethora of tools like Research Analysis , Strategies to foloow and Proactive investing
- startegySEEK : – Seeks the best strategy for you at a lightning fast speed
- tradeLAB : Snap shots and visual representation of the possibilities of option trading
- Exit plan: – Another strategy tool that helps you understand the ways to minimize your losses
- One can set up paper account to check out their tools and features which help you in easy trade
- Trade master grade: – Gives overview financial ratings comparisons along with earnings track records charts, dividend picture along with recent events and charts (3 days, 5 day, 1 month).
- On the graphs they have customer friendly tools where you can draw your own lines along with other options
- Buying a stock is as simple as clicking on Buy or Sell
- Complete your order in few steps
- tradeMONSTER provides a trading platform to practice options
- A very good platform where you can practice trading and when you get comfortable you can go online to real trading along with being comfortable with the tools
tradeMONSTER eases the process of learning process
- Easy Paper trading tool for training new users