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TradeMonster IRA Review 2012: ROTH, Traditional, SEP, Simple, Rollover Retirement Accounts
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TradeMonster IRA Commissions, Fees and Investments Offered (2012)
- Stocks and ETFs: $7.50
- Stocks and ETFs broker assisted: $22.50
- Options: $0.50 per contract (minimum $12.50 for single leg orders and $15 minimim per spread for multi-leg orders)
- Futures: $1.50 per contract
- Options on Futures: $1.50 per contract (excluding exchange fees, NFA fees, overnight and platform fees as applicable)
- Mutual Funds: $15 to buy, $0 to sell
- Bonds: $15 (Municipal, Corporate, Agency, Treasury)
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open TradeMonster account: $2,000
- All TradeMonster fees
TradeMonster Retirement Account Fees
IRA Annual Fee: $0
IRA Setup Fee: $0
IRA Account Closure: $20
TradeMonster offers a powerful and flexible webbrowser-based
trading platform, where just about everything is customizable. There are also great tools for charting, trending,
drawing your own patterns on the charts.
TradeMonster IRA Pros
- Very good margin rates
- Selling mutual funds is free
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Free trading simulator (virtual trading)
TradeMonster IRA Cons
- Additional 1.5 cents per share surcharge on extended hours trades
- Additional $0.0005 per share on the entire order for any stocks priced less than $1
- Trading tools are not intuitive and could be hard to master
TradeMonster IRA Review
TradeMonster offers excellent, browser-based trading tools, especially for options traders. The firm provides very good pricing for
mutual funds investors -- $15 to buy a mutual fund and free to sell. There are very few fees and surcharges, and the only important
ones are 1.5 per share surcharge on extended hours trades and another one on stocks under $1.
In 2011 Barron’s magazine rated TradeMonster 4.5 stars (out of 5) on their Trading Experience, Usability, Research and Educational Resources,
Portfolio Analysis/Reporting Tools and Customer Service. The only area were company got somewhat lower score was the Range of
Investment Products offered.
One of TradeMonster's coolest features is the ability to practice trading stocks or options with paper (virtual) money,
using all of the tools available. Another interesting feature is Exit Plan, where users create exit strategies for their trades
by focusing on profit targets and by monitoring their stop-loss and exit points.
Since there are no IRA and inactivity fees (except for $20 IRA closing fee), TradeMonster is one of the best brokerage firms
for an individual retirement account.
TradeMonster is a good company but mainly due to surcharges it did not make it into our list of
Best Brokerages in 2012.
In summary, TradeMonster is a great firm for people investing in mutual funds and for options traders.
Trade Commission Free for 30 Days at TradeMonster!
Click the link and use promo code CJ30FREE.
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