TradeMonster Trading Commissions
- $7.50 per stock/etf trade
- Options: $0.50 per contract, min. $12.50 for single leg orders and $15 min. per spread for multi-leg orders
- Futures: $1.50 per contract
- Mutual Funds: $15 to buy, $0 to sell
- Bonds: $15
TradeMonster Important Fees and Surcharges
- Extended hours surcharge: 1.5 cents per share
- Large order surcharge: $0
- Penny stocks surcharge: 0.05 cents per share
- IRA set-up fee: $0
- Annual IRA fee: $0
TradeMonster Pros
- Very few fees (no inactivity and account maintenance fees; no hidden fees)
- Free streaming quotes, charts and option chains
- 24/7 help line in their learning center
- Free IRAs
- Free virtual trading
- Extensive educational resources
- Free to sell mutual funds
- Very useful tools for options traders
TradeMonster Cons
- 1.5 cents per share surcharge on extended hours trades and 0.05 cents per share surcharge on penny stocks
- Trading platform needs more intuitive design
- No fast way to enter orders - have to make too may clicks
TradeMonster Account Types
- General Accounts
- Individual
- Joint Account:Right of Survivorship
- Joint Account: Tenants in Common
- Joint Account: Joint Tenants in the Entirety
- Custodial/Trust Accounts
- Custodial – UGMA
- Custodial – UTMA
- Trust
- Corporate Accounts
- Corporate
- Investment Club
- Partnership
- Limited Liability Corporation (LLC)
- IRA
- TradeMonster Traditional IRA
- TradeMonster Roth IRA
- TradeMonster Rollover IRA
TradeMonster Review
TradeMonster offers about average among online brokerage firms equities trading commissions: flat-rate $7.50 per trade on stocks
and exchange traded funds (ETFs). Options commissions are very good for traders trading 20 contracts or more. Mutual funds are
just $15 to buy and free to sell. Minimum to open account is $2,000 in cash or equities.
TradeMonster has remarkably few fees - very few other online brokers charge so few fees. There are no setup and annual IRA fees, no
inactivity, maintenance, hidden fees as well as no platform fees. The firm does not charge additional commission on large orders,
but it does have a very big surcharge of one and half penny per share on extended hours orders and a smaller one for penny stocks.
Options traders are raving about TradeMonster's great options trading tools and very good options pricing.
One of the greatest tools the firm offers is adjustTRADE™ manager, which helps examine how user can protect a stock position,
bring in additional portfolio income, or exit a trade. Trading platform for us feels not very intuitive and not easy to navigate.
There is no way to enter an order fast - you have to click too many times, which could mean lost opportunities.
We recommend TradeMonster to options traders, beginner investors and buy-and-hold investors as well as for IRAs.
Stock and ETF traders and investors should look elsewhere.
TradeMonster Promotional Offer - 30 days free trading
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