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Just2trade vs Interactive Brokers
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Just2trade vs Interactive Brokers: Trading Fees and Investments
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- Stocks and ETFs: $0.005 per share with $1 minimum per trade for SMART routed orders
- Options: $0.70 per contract plus exchange fees
- Mutual funds: $14.95 per transaction
- Investment products: stocks, options, ETFs, bonds, futures, currency transactions
- Minimum to open Interactive Brokers account: $10,000 for non-IRA account, $5,000 for IRA account
- All Interactive Brokers fees
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- Stocks and ETFs: $2.50 (with surcharge for extended hours trading)
- Options: $2.50 plus $0.50 per contract
- Mutual funds: $2.50
- Investment products: stocks, options, mutual funds, bonds and fixed income securities, ETFs
- Minimum to open Just2trade account: $2,500
- All Just2trade fees
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Low stock commissions for orders with 800 shares or less
- Professional trading platform
- Great margin rates
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- Very low commissions
- Free real-time level 1 and 2 quotes
- Free Morningstar research
- Free dividend reinvestment including fractional shares
- Low margin rates
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- $10,000 minimum to open most accounts
- $30/month minimum commission requirement to avoid $10/month fee
- $10/month for IB market data feed (waived if trade commissions are more than $30/month)
- Fees on modified or canceled orders
- Trader Workstation is designed for professional traders, it is not intuitive; difficult to learn
- Expensive to make trades with over 1,500 shares
- A lot of complains about snobby customer service (experienced it ourselves)
- $1.20 fee to modify or cancel an option order
- Merciless margin tightening and margin calls - IB doesn't care if their customers get completely wiped out
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- Wrong cash balances and other account balance discrepancies (!)
- An additional $0.003 per share to trade on the ECN during the extended-hours
sessions – from 7-9:30AM EST pre-market and 4-8PM EST after hours
- $25 IRA setup fee, $75 IRA closing fee and $35 annual fee for IRA accounts (if below $25,000 in assets)
- For customer service company encourages contact by email
- Options Exercise / Assignment fee: $20 per exercise or assignment
- Checking & VISA Debit Card fees: $50 (Gold Package); $75 (Platinum Package)
- Minimum $2,500 account balance requirement
- No support for beginner or novice investors
- Poor choice of mutual funds
- Open orders are getting randomly canceled
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Interactive Brokers versus Just2trade: Comparison Summary
Just2Trade (Just2Trade Review)
offers better commissions than
Interactive Brokers (Interactive Brokers Review)
if you trade orders of over 500 shares. On the other hand, if your trades are usually under
500 shares, than IB has a clear advantage.
Interactive Brokers, however, has $30 per month minimum
commission requirement to avoid $10 monthly inactivity fee and $10 monthly market data fee. This means that clients who rarely
trade might pay up to $240 per year in fees! Interactive Brokers is also known to have the rudest customer service in the industry.
Just2Trade charges IRA setup and annual IRA fees, has very basic, limited trading tools, poor customer service and suffers from
account balance calculation problems (company claims they are resolved).
Both brokerage firms are well suited only for very active traders. If you are new to investing, you are better off
with one of the firms that are in our Best Brokerages for Beginner Investor list.
Because of the IRA fees at Just2Trade and maintenance fees at IB, neither one of this discount brokers is a good choice for a
No Fee IRA.
Between these two firms, Interactive Brokers would be our pick. There are also other
Low Commission Brokerages
that don't charge as many fees and don't have customer service issues that plague Interactive Brokers and Just2trade.
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