tradeMONSTER vs E*TRADE

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These two brokers are like chalk and cheese, E*TRADE are an internationally recognized blue chip broker listed on NASDAQ, the other is a lesser known broker known only to those within the trading community.

But should you discount tradeMONSTER purely because of their size? Some smaller brokers have good things to offer, especially where customer service is concerned.

To find out if they really can compete we’ve compared them both for platform functionality, trading tools, customer service and of course price. Keep on reading to find out which broker is the most suitable for you.

Products & Services
Broker	tradeMONSTER	E*TRADE
Rating	[rating:3/5]	[rating:3/5]
website	Visit the TradeMonster Website	Visit the E*TRADE Website
Our Review	Read Our TradeMonster Review	Read Our Full E*TRADE Review
	Bank Deposits	Bank Deposits
	Bonds	Bonds
	Certificates of Deposits	Certificates of Deposits
	Day Trading	Day Trading
Services	Extended Hours Trading	Extended Hours Trading
	ETFs	ETFs
	IRAs	IRAs
	Mutual Funds	Mutual Funds
	Trading Community	Trading Community

Services Overview

It should come as no surprise that E*TRADE win the services battle. With a network of over 500 branches, they offer their clients everything form traditional brokerage products to traditional banking services.

tradeMONSTER can’t compete with that, but they nevertheless offer the basic trading products that 90% of traders use. The only thing missing is Certificates of Deposit which are available from most high street banks anyway.

Trading Tools
	tradeMONSTER	E*TRADE
	Automated Trading	Automated Trading
	Investor Resource Center	Investor Resource Center
	Mobile Trading	Mobile Trading
	Online Advisor	Online Advisor
Trading Tools	Profit & Loss Calculator	Profit & Loss Calculator
	Streaming Charts	Streaming Charts
	Stock & Fund Screeners	Stock & Fund Screeners
	Tables & Graphs	Tables & Graphs
	Training & Education	Training & Education
	Virtual Trading	Virtual Trading

Trading Tools Overview

This is where the real differences are, it soon becomes clear what kind of traders each broker is looking for when you look at their respected platforms.

E*TRADE actually offer two different platforms depending on your account size and trading style. First up we have the basic trading platform which is nice and simple to use, it has a nice clear interface and a good selection of tools.

For more advanced traders they offer E*TRADE Pro which is a professional style platform with full level 2 data and professional grade tools. This is available free of charge to traders with an account balance in excess of $50,000.

tradeMONSTER on the other hand only offer one platform, trying to accommodate all trader with one platform is a recipe for disaster. As a result it’s a little complicated to use at first, of course over time you’ll get used to it and all its little idiosyncrasies but I can’t help but feel that it could be made a little simpler to use.

Summary

To sum-up if you’re an intermediate trader with a midsized account of over $50,000 then E*TRADE is the broker for you. Although their headline rate is quite high, if you trade over 150 times a quarter it’s reduced to $7.99 which Is much more inline with tradeMONSTER.

150 times a quarter is a lot for most traders though, it’s around 2.5 times a day. Most intermediate traders I know don’t trade that a week never mind a day. So this pricing is really reserved for day traders and the like.

So if you trade less than that should you choose tradeMONSTER? No I don’t think so; there are much cheaper and better rounded brokers available like TradeKing or OptionsHouse for instance. Both these brokers have better training, easier to use platforms and cheaper pricing than tradeMONSTER.

tradeMONSTER do have an excellent options platform however, if you trade solely options you might want to check them out.

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