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tradeMONSTER Review![]() I have seen tradeMONSTER around for a while now, but never looked into them until just recently. I’ve learned that they opened for business in 2008 making them a relatively new broker. Let’s get straight down to what really matters and look at the costs of trading with them and any hiddens fees that there might be. Firstly they charge $7.50 per stock trade, this includes ETFs. This is fairly competitive but over 50% higher than Zecco. Options cost $0.50 per contract, this is very competitive and about as cheap as it gets. They charge an extra $15 per trade for broker assisted trades, ouch. Some other tradeMONSTER costs include:
I was pleased to discover tradeMONSTER Introducing tradeMONSTER. No minimums, no inactivity fees, real-time streaming quotes and charts. Account OpeningWhen I opened an account with tradeMONSTER Introducing tradeMONSTER. No minimums, no inactivity fees, real-time streaming quotes and charts. The ACH transfer setup requires verification. They make a couple of deposits to your bank account that you need to verify with them. This took two days. Many other brokers I have used offer immediate funding. I found the delay was mildly annoying, but maybe i’m just being picky. Account MinimumYou need to deposit a minimum of $2,000 to open an account with tradeMONSTER. This is not an issue for many traders, but not ideal if you are just starting out and do not have a large amount of disposable income to invest or it’s your first time buying stocks. Customer SupportI tested out their customer support on two seperate occassions. The customer support departent responded within a few hours by email, and the response was helpful each time. I also spoke to them on the phone, I got through quickly and spoke to an intelligent and helpful representitive every time. This is critical when considering what stock broker you should use. It is particularly annoying to discover that your broker lacks in the customer service department after you need their assistance. There is no live person support which was mildly annoying. Trading communitytradeMONSTER have a vibrant trading community where you can share your experiences with other traders. I always feel this is a big plus. So in a nutshell the pluses are:
and the negatives:
ConclusionTo conclude this tradeMONSTER Introducing tradeMONSTER. No minimums, no inactivity fees, real-time streaming quotes and charts. However, if you make a lot of small trades, the trading costs would be significantly more than Zecco.
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