just2trade rating

Just2Trade Review


Just2Trade Pricing and Minimum Deposit


Product Price
Stocks and ETFs $2.50 ($4.00 if account balance is under $2,500)
Options $2.50 + $0.50 per contract
Mutual funds $12
ADRs $2.50
Spreads, Straddle (per leg) $2.50 + $0.50 per contract
International Stocks $2.50 + $75 foreign stock transaction fee
Bonds $15 + $1 per bond

Investments stocks, options, mutual funds, futures, ETFs
Minimum deposit to open account $2,500


Overview of Just2Trade

Just2Trade is a deep-discount brokerage house that sacrifices a lot to offer low commissions. Despite scaling back services in some areas, it does manage to offer some advantages that other big names like Fidelity and Schwab don't offer. It also caters to day traders. Here's the 2018 Just2Trade review:


Banking Features


Just2Trade Banking Rating

This Just2Trade review begins with one of the areas where Just2Trade has trimmed everything in order to keep costs as low as possible elsewhere. The brokerage firm does not offer a debit card or checks with a trading account. We hope in the future the company will add these features, at least for a fee.


Mutual Funds


Just2Trade Mutual Funds Rating

Given the type of broker Just2Trade is, we didn't expect to find any mutual fund trading. Much to our surprise, Just2Trade does offer mutual funds. In fact, there are about 3,000 available on its platform. Each one carries a $12.50 transaction fee. Some of these funds carry loads, while others do not.

We were disappointed to learn that Just2Trade doesn't have a mutual fund screener. If the brokerage house is going to offer the products, they should have a search tool for them. There are also no research reports on mutual funds, and the broker does not provide any learning materials on them—another disappointment. But the broker does do better than zero stars here.


ETF's


Just2Trade ETF Rating

Exchange-traded funds are of course available at Just2Trade. However, the brokerage firm doesn't offer any that are commission-free, and this puts the company at a severe disadvantage compared to many of its rivals.

On top of this failure, there is no ETF screener at Just2Trade. Apparently, its customers will have to find a screener somewhere else online. We were also disappointed to learn that Just2Trade doesn't offer any research reports or other form of education for exchange-traded funds. It seems that all you can do here is buy and sell.


Other Investment Vehicles


Just2Trade Investment Rating

Besides the financial instruments already mentioned in this article, Just2Trade clients have access to futures (including Bitcoin futures), options, and over-the-counter stocks. This is a decent assortment, and the broker is one of the few securities firms we know of to offer futures.

Regrettably, forex trading is not available at this time. Given that Just2Trade caters to day traders, we hope to see this addition soon. Bonds also are not on tap, and this we consider to be a pretty big failure.


Customer Support


Just2Trade Customer Rating

Just2Trade fails to offer customer service around the clock, although it does have a futures trading desk that is available 24 hours a day, 6 days a week. A company associate can be reached through phone and e-mail channels. The broker's website also has a Facebook Messenger system that allows clients and guests to communicate with a representative. The front page (just2trade.com) oddly has a blog format with questions from customers. Although somewhat unusual, this is a good way to contact the broker. You do have to have an account to make a post.

Just2Trade doesn't have any branch locations; so the few online resources are all its customers have. They haven't reported the best reviews of the broker in this arena, describing low professionalism and long wait times.


Just2Trade Commissions, Fees, and Account Requirements


Just2Trade Fees Rating

There are two commission schedules at Just2Trade: a per-trade plan and a per-share schedule. Under the per-trade system, equity trades cost a very low $2.50 each. This charge includes ADR's and ETF's. For over-the-counter securities and stocks under $1, the broker tacks on a 0.3¢ surcharge per share. Although stocks on foreign exchanges are available at Just2Trade, there is a very steep $75 surcharge.

With the per-share plan, accounts that reach 5,000,000 shares in a month pay just 0.1¢ per share for stocks. Below a million shares, the commission is 0.25¢ per share, while accounts between a million and five million shares pay 0.15¢ per share. There is a minimum commission of 50¢ per trade. This Just2Trade commission schedule does carry a $333 monthly fee. Ouch!

Futures contracts are $2.50 per side, per contract. This price includes daily e-statements, streaming charts, and market depth. Some exchanges, such as NYMEX and CME, have fees for real-time data and market depth. There is no charge to use Just2Trade's futures simulation account, although there is a $49.95 monthly charge for the software. Fees charged by the futures exchanges are passed onto the customer.

Options in a per-trade account cost $2.50 per contract. On a per-share plan, the commission is 35¢ per contract for accounts that have the ability to reach 5 million contracts per month. That's a lot. Most accounts will pay 75¢ per contract (with no base charge). Between 1 million and 5 million contracts, the charge is 50¢.

Just2Trade charges nothing for ACH transfers, although it does have this unpleasant $15 quarterly account fee. It can be avoided by placing at least five trades in the quarter or keeping a $50,000 account balance. Paper statements are $5 each, and market depth equity data costs $7.99.

If you want to transfer a Just2Trade account to another firm, be advised that it's going to cost you $80. Partial transfers are a more reasonable $25.

We were disappointed to learn that Just2Trade charges for mandatory corporate actions ($30 per item). Voluntary actions are a steeper $50.

Accounts that are signed up for the per-trade plan must deposit at least $25,000 and be registered as margin accounts. Other accounts must deposit at least $100. In order to begin trading, the broker-dealer requires a $2,500 balance. If an account's balance later drops below this threshold, Just2Trade increases its commission to $4 per trade. Below $2,000, the broker shuts off trading capability (for new positions).

The brokerage firm's margin rates are fairly competitive. A loan under $10,000 costs 8.25%. This gradually decreases until the debit reaches $1 million. Here, the APR is 5%.


Margin Requirements


For long equities priced above $3, the initial margin requirement is 50% of the position's value. Maintenance is 30%. These percentages go up for equities under $3.

Short stock positions require 50% initial margin, assuming the market price is higher than $5. The maintenance requirement is either $2 or 50%, whichever is greater. If the stock is under $5, the requirements increase.


Extended Hours


Just2Trade offers a pre-market session. It lasts from 7:05 am until 9:30 am, EST. There is also an after-hours session, which lasts from 4:00 pm until 8:00 pm. Orders are sent to an ECN during these times, and there's a surcharge of 0.3¢ for ECN orders (regular session, too).


IRA's


Just2Trade IRA Rating

Despite its emphasis on day and swing trading, Just2Trade does have retirement accounts. The broker charges a $50 annual IRA fee. You can avoid it by keeping a balance of at least $50,000 and placing at least 40 trades per year (must do both).

We could not find any retirement resources or materials on the broker's website, and without a fund screener, there's no way of knowing if there are any target-date funds available. We do know that the brokerage firm offers SEP and SIMPLE accounts in addition to Roth and Traditional varieties. Retirement accounts from a former employer can be rolled over to a Just2Trade IRA. Surprisingly, the broker-dealer does offer solo 401(k) plans.


Investment Advice


Just2Trade Investing Rating

Just2Trade specializes in active stock, options, and futures trading. As such, it doesn't offer any account management services. We would like to see a robo-advisory service added at some point.


Trading Tools


Just2Trade Trading Rating

Just2Trade offers several trading platforms, some that sit in a web browser window, and others that are desktop programs. We're going to take a close look at Just2Trade +, which is a free browser-based system.


Just2Trade +

The first thing we liked about Just2Trade + is that it offers a free demo. You don't need to have an account to use this. There's a convenient link to get started right on the broker's website.

When we logged into our trial, the first thing we noticed is a streaming line of ticker symbols going across the page from right to left. Hovering over one of the symbols stops the ticker tape and produces a drop-down menu beneath the stock under investigation. This menu shows detailed information, such as volume and the day's change. It's possible to change the speed and the specific stocks shown.


Just2Trade Review: Platform


Underneath this is a vertical column of the broker's pre-defined watchlist. It's possible to create your own, and multiple lists can be created. The number of rows can be adjusted, although we couldn't find any way to change the columns presented. They include bid and ask sizes.

Clicking on a bid or ask price in the watchlist generates a pop-up window with the order ticket. This we were somewhat disappointed in because there's already an order ticket in the lower right corner. When we clicked on a bid or ask price, this ticket was populated, which makes the pop-up window redundant.


Just2Trade Trading Review


Both tickets have the same features. Order types include market, limit, stop, and on-close orders (both market and limit). Duration options include day, GTC, and day+, which is good until the close of the extended-hour session. There's also an all-or-none option.

There are two destination choices available besides default: ARCA and NASDQ. While it's nice to have a couple of choices, Sterling Trader Pro, which is available with Just2Trade, has many more. Many low-cost brokers, like Fidelity and Schwab, don't offer this platform.

For charting, a small graph sits at the lower left when you open the platform. It's possible to expand the width of the screen for much better viewing. We found at least thirty drawing tools and close to a hundred technical indicators.

There are only four chart styles available: area, line, candlestick, and OHLC bars. We definitely want to see more than this. Volume can be turned on or off, a nice feature. We were able to get Citigroup's price history to go back to 1996, which is 22 years of data. However, we weren't able to adjust the interval on any timescale.

Option traders can click on the ‘Options' tab at the top of the screen to find chains. Above the table sits a graph, which isn't really necessary here. But it can be minimized. One feature we really liked was a Greek Sigma symbol. When you hover your cursor over this, a pop-out menu shows Greek values for that contract. Another great feature is hovering over the strike price, which shows intrinsic and time values.


Just2Trade Options Review


Despite the great derivative-trading features, we weren't able to figure out how to add multiple legs to an order ticket, and there are no pre-defined option strategies to choose from.


Other platforms

Besides the Plus platform, Just2Trade offers a variety of other programs. For futures, there is OEC Trader, Sterling Trader Pro, and CQG Trader. For stocks and options, Sterling Trader Pro can be used, and the brokerage firm also permits the use of an API by its customers.

Sterling Trader Pro is the most advanced platform available at Just2Trade. It's not free, but does come with a lot of great features, such as real-time market analysis, global exchanges, and multiple venues for order routing, including dark pools.


Just2Trade Investing Review


Mobile App


Just2Trade App Rating

There are two apps available to Just2Trade investors. One is designed for equities and options, while the other is for futures trading.

The futures app is the iBroker platform that is available on both Apple and Android devices. It's easy to search for futures contracts simply by tapping on the ‘Futures' button. The app has them divided into groups, such as energy, ag, and metals. Bitcoin is on the menu as well.

Different contracts are available with a variety of expiration dates. Tapping on one produces a profile page with very limited information. There is volume, high and low prices, and the last trade price. We were hoping for more data. There are also links to tweets on Twitter that are related to the contract.


Just2Trade Mobile Review


There is a small chart on a contract's profile page, and this can be expanded full screen. A chart can be rotated horizontally, and it includes several technical studies (we counted over 50), and many drawing tools. These include ellipses, a text box, a Schiff Pitchfork, and a Gann Box. There are close to 100 drawing tools, and we were very impressed with that.

We were less impressed with the order ticket on the app, which uses blue instead of green for buy. Red is still used for selling. Order types include market, limit, and stop. We also didn't like the fact that duration isn't shown on the interface. You have to go into settings and select your preference (there are two choices: day and GTC).


Just2Trade App Review


Investment Education


Just2Trade Investing Rating

Just2Trade caters to investors who already know what they're doing. As such, there's not a lot here in terms of financial education. Furthermore, we didn't find a lot of resources devoted to security analysis. Sterling Trader Pro does have news articles from Seeking Alpha and Business Wire. The software also includes a stock scanner that operates with real-time data, a nice feature. CQG Trader has a news feed. Although iBroker has Twitter integration, we don't consider that to be a legitimate form of investment analysis


Comparison


Just2Trade Mutual Rating

Just2Trade's flat $2.50 commission is lower than Fidelity and Ally Invest. It used to be on par with Firstrade, but that broker recently went to $0 trades.

The per-share plan is much lower than TradeStation, who charges either 1¢ or 0.6¢ per share with a $1 minimum. TradeStation, however, offers a free desktop platform for its per-trade clients; although they pay $5 per transaction, twice as much as Just2Trade.

While Just2Trade offers mutual funds, its service in this category pales in comparison to TD Ameritrade and USAA, both of whom offer large selections of funds, including no-transaction-fee funds.

We missed a forex offering at Just2Trade. We found some at TD Ameritrade and Ally Invest.

While Just2Trade's commission schedule is hard to beat, other brokers do offer commission-free ETF's. These include Schwab, Vanguard, and E*Trade. At Firstrade all ETF's are commission-free.


Recommendation


We definitely do not recommend Just2Trade for beginner investors, as the brokerage firm just does not have the customer service or the educational materials to serve this group of traders.

We do endorse Just2Trade for active stock, options, and futures traders due to the company's effective trading technology and low commission schedule. Clients who place a large number of stock trades every month of less than a thousand shares will save a tremendous amount of money compared to very low-cost brokers like Schwab and Fidelity.

We don't propose Just2Trade for mutual fund or ETF trading, because there are so many other brokers that outperform Just2Trade in this category.


Just2Trade Review Summary


As you see from this 2018 Just2Trade Review, the broker offers low pricing on trading a range of investment vehicles. But this comes at a price, because other areas are sacrificed. If you don't need any guidance, the broker may be worth a try.


Just2Trade reviewed by Brokerage-Review.com on . Rating: 2