Just2Trade Review: Commissions, Fees, and Minimum Deposit
|Stocks and ETFs
||$2.50 ($4.00 if account balance is under $2,500)
||$2.50 + $0.50 per contract
|Spreads, Straddle (per leg)
||$2.50 + $0.50 per contract
||$2.50 + $75 foreign stock transaction fee
||$15 + $1 per bond
||stocks, options, mutual funds, bonds, futures, ETFs
|Minimum deposit to open account
Completing new account application online takes about 15 minutes and approving an account at Just2Trade takes 1-2 business days if online (non-paper) application is used.
All accounts at Just2trade, including margin accounts, must maintain at least $2,500 equity, which includes cash and positions. Day trading accounts must maintain a minimum $25,000, which includes cash and positions.
The minimum amount to keep a Just2Trade account open is $100. The minimum amount needed to trade is $500 or greater, otherwise the account is locked and
positions are liquidated.
The types of accounts offered are Individual, Joint with Rights of Survivorship, Joint Tenants in Common, Custodial Account, Traditional IRA,
Roth IRA, Rollover IRA, SEP IRA, Educational Savings Account (Coverdell), Corporate, LLC, Trust, Sole Proprietorship, and Partnership.
The firm offers both web based trading platform as well as a downloadable, advanced trading software.
With the platforms investors can trade U.S. equities and options.
The company now offers mobile trading for iOS and Android devices. The apps allow users to trade stocks and options as well as
track their portfolio performance. In Google Play the app is currently rated at about 3.5 stars.
- Very low commissions on most stock, ETF, option and mutual fund trades
- Free level 2 quotes
- Free dividend reinvestment, including fractional shares
- Free access to Maxit tax software
- Access to a social network of traders
- A commission of $4.00 per trade will apply to accounts below the minimum $2,500 balance requirement
- An additional $0.003 per share is charged to trade on the ECN during the extended-hours
- An additional $0.003 per share is charged on stocks priced less than $1.00 and all OTC securities, with $5.50 per trade maximum
- $50 annual fee for IRA accounts; the fee is waived for accounts with over $10,000.00 in assets and placed at least 40 trades (options and equities only)
- High options exercise and assignment fee: $20 per exercise or assignment
- Checking and VISA debit card fees: $50 (Gold Package), $75 (Platinum Package)
- Minimum $2,500 account balance requirement
- Just2Trade website has issues not found in most other brokers
- Poor investment research amenities
Just2Trade Review Summary
The New York based Just2Trade is the only brokerage firm out of those that we have reviewed in the last eight years that was under FINRA investigation for fraud.
The information on the case is located on FINRA's website under this link.
After the scandal, in 2015 the company was acquired by Whotrades, Inc and is now under new management.
Just2Trade charges very low commission on stocks and ETFs - just $2.50 per trade. This is the lowest flat rate commission among online stock brokers.
Only some of the pay per share brokers could beat Just2Trade in this area and only on trades with 500
shares or less. Just2Trade has a surcharge of $0.003 per share on extended hours trades (trades executed from 7:00-9:30 AM EST and 4:00-8:00 PM EST),
on penny stocks and OTC stocks.
At Just2Trade retirement account holders will have to pay $50 annual IRA fee, which is waived only for
accounts with over $10,000 in assets that had at least 40 trades that year.
Just2Trade is not friendly to small balance investors: there is a $2,500 minimum account balance requirement. If client's balance falls below $2,500, the trading
commission goes from $2.50 to $4.00 per trade. The firm will also liquidate customer's positions if account balance goes under $500 and might even
charge a liquidation fee, which almost no other broker does.
One of the main indicators we are looking at when rating and recommending a brokerage firm is how well their website is designed. It's a main part
of the online broker's business and it should be in excellent condition. All of our top rated brokerage firms have professionally designed websites and
trading tools. Just2Trade, while having some nice elements, has a lot of extra spacing and missing spaces all over their website. Some pages even have
incomplete or missing information.
Reviewed by Brokerage-Review.com on
Reviewed by Editor and Just2Trade customers.