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Just2trade review 2010: very low trading commissions but poor customer service and too many fees
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Just2trade Trading Fees and Investments Offered (2010)
- $2.50 per trade stock commission (with surcharge for extended hours trading)
- Options commission: $2.50 plus $0.50 per contract
- Mutual funds: $2.50
- Investment products: stocks, options, mutual funds, bonds and fixed income securities, ETFs
Just2trade's services are for investors with at least two years of trading
experience, knowledge of trading terminology and personal account management,
and 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
- Good trading tools
- 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)
- You cannot modify an order, you 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 $100 (Gold Package); $125 (Platinum Package)
- Minimum account balance requirement: $2,500
- Just2Trade is definitely not for beginner or novice investors
- Poor choice of mutual funds
If you trade over 500 shares on average per trade, don't trade after-hours and make over 20 trades a month
Just2Trade.com might be the cheapest online stock brokerage for you. But you have to give up on customer
service and be pretty much self-reliant.
The biggest problem with Just2Trade is that you have to constantly check your account balances to make sure
they are correct. Inability to modify orders is odd and inconvenient, and multiple IRA fees are disheartening.
Just2Trade's targets very experienced traders who need cheap executions. For
this reason, the firm is not a good choice as a broker for beginner investors.
There are other
top rated online brokers that offer low trades, fewer fees and don't have
the problems
that plague Just2Trade.
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