|
Just2trade review 2010: very low trading commissions but poor customer service and too many fees
|
Just2trade Trading Fees and Investments Offered (2010)
- 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 account: $2,500
Just2trade clearly states that its services are for investors with at least two years of trading
experience, knowledge of trading terminology and personal account management.
Clients are required to maintain at least $2,500 minimum account balance at all times.
Who is Just2Trade?
Success Trade Securities was founded in 1999 and serves as the parent company for three online investing sites –
Just2Trade, Successtrade and LowTrades. Success Trade Securities is a member of FINRA and SIPC.
Just2trade.com trading tools are pretty good, including some neat Technical Analysis tools
such as Stock Alerts,
Stock Screeners, Technical Insight, and Daily Technical Events. With Stock Alerts you could set
trading criteria on the stock
and receive email notification when these criteria are met. With Stock Screener you could search for stocks that
match your parameters, like industry, trading volume, PE and more.
- Individual (U.S. Domestic and Foreign)
- Joint with Rights of Survivorship (U.S. Domestic and Foreign)
- Joint Tenants in Common (U.S. Domestic and Foreign)
- Custodial Account (U.S. Domestic)
- Traditional IRA (U.S. Domestic)
- Roth IRA (U.S. Domestic)
- Rollover IRA (U.S. Domestic)
- SEP IRA (U.S. Domestic)
- Corporate (U.S. Domestic and Foreign)
- LLC (U.S. Domestic and Foreign)
- Investment Club (U.S. Domestic)
- Trust (U.S. Domestic and Foreign)
- Partnership (U.S. Domestic)
- Very low commissions
- Low margin rates
- An additional cost of $0.003 per share is incurred 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)
- Cannot modify an order: must cancel an order to change it and resubmit it as a new order
- Very poor customer service (company encourages contact by email)
- Incorrect cash balances and other account balance discrepancies
- Options Exercise / Assignment fee: $20 per exercise or assignment
- Checking & VISA Debit Card fees: $100 (Gold Package); $125 (Platinum Package)
- Minimum $2,500 account balance requirement
- No support for beginner or novice investors
- Very basic trading platform
- Poor choice of mutual funds
Just2Trade.com Review Summary
Just2Trade might be the cheapest online stock broker if one trades over 500 shares on average per trade,
does not trade after-hours and makes over 20 trades per month.
But the client will have to give up on customer service and be pretty much self-reliant.
The biggest problem with Just2Trade is that customers have to constantly monitor their account balances to make sure
they are correct. Additional disadvantages are inability to modify orders and multiple IRA fees.
For a fee-free retirement accounts check out
Best Brokerages for IRA list.
Just2Trade's client base consists of very experienced traders who need cheap executions. For
this reason, the firm is not a good choice for
beginner investors.
There are other
top rated brokerage firms that offer low trades, fewer fees and don't have the problems
that plague Just2Trade.
Just2trade Promotional Code: none right now
|
|
|
|
|