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TradeMonster


TradeMonster is no longer in business. For a $0-commission alternative, we recommend Charles Schwab. Please read detailed Charles Schwab Review.


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TradeMonster Commissions, Fees, and Minimum Deposit


TradeMonster completed a merger with another discount brokerage house, Optionshouse, which later was acquired by ETRADE. ETRADE in turn got acquired by Morgan Stanley. TradeMonster brand is now discontinued.

InvestmentsCommissions
Stocks and ETFs $0
Stocks and ETFs broker assisted $0
Options$0.50 per contract
Mutual funds $20
Futures $1.50 per contract

Investments stocks, options, mutual funds, bonds, futures, ETFs
TradeMonster minimum deposit to open account $0 for cash account, $2,000 for margin account


TradeMonster Review

We have had a positive overall experience using TradeMonster brokerage's advanced trading platform, TradeMonster Pro, over the past few months. To access the system, you need to be classified as an active trader with TradeMonster, meaning you must make 30 or more trades in a calendar quarter. Once you meet this requirement, you will receive a message in your account inbox notifying you of your qualification for the service. You can then launch the platform through the active trading link on their website. To get started, ensure that you have the latest version of Java installed on your computer. After downloading the platform, the TradeMonster Pro login will appear as an icon on your desktop for future easy access.

At first glance, TradeMonster Pro may appear overwhelming with numerous boxes and numbers scattered across the screen. The platform is designed for active or experienced traders, so it offers elaborate and dynamic features. By spending some time familiarizing ourselves with the platform, we were able to understand the available options, which proved to be extremely useful.

The platform is organized into four main tabs at the top of the page: Tools, Quotes, Ticker, and Trade. The Tools tab provides quick access to various choices, including trading, moving money, research, charting, options, and futures tools. This tab simplifies access to different areas of the system, making navigation more convenient.


TradeMonster


The Quotes tab allows users to enter a stock symbol to receive real-time streaming quote information. This includes bid/ask prices, the price of the last trade, and the volume of the selected stock. The data also integrates into additional features on the page. For example, the information automatically feeds into the Dow Jones newswire for instant access to the company's recent press releases. The quote appears in a separate box as part of an interactive chart, which can be customized based on specific analysis criteria. These features provide quick access to information and enhance due diligence.

The Ticker tab displays the user's watchlist in a traditional ticker quote style. It shows the price of the last trade and the change for each stock in dollars and cents. This simple display provides continuous updates without occupying much screen space. Advanced users can customize the appearance and integrate stock symbols with other parts of the platform, such as level II quotes or option chains. This flexibility makes the system user-friendly and more navigable than initially anticipated.

Clicking the Trade tab opens the Order Entry Screen, which allows investors to buy or sell stocks, options, futures, and input conditional orders from the same menu. This dynamic workspace is especially helpful when switching between different types of investments quickly. Many brokerage firms have separate sections or platforms for each investment type, but TradeMonster Pro offers the convenience of accessing all these options in one place. The platform also offers additional perks, including live online access to CNBC, Excel Manager for interactive report creation, and a strategy screener where investors can input specific criteria for real-time stock ideas and alerts.

To fully unlock the value of this platform, it takes time and experience. For active traders, TradeMonster Pro provides highly customizable and in-depth trading tools to meet your investment needs. Based on our experience, we recommend this platform for serious traders seeking access to dynamic tools and resources in a single location. The TradeMonster bonus for signing up and opening a new account is also a nice incentive.


trademonster website


ETF Fees at TradeMonster


As the popularity of ETFs continues to rise, brokers like Charles Schwab and TradeMonster are striving to enhance their trading platforms with attractive features, including commission-free ETFs. Both Charles Schwab and TradeMonster offer commission-free trading for all ETFs, but it's crucial to carefully examine the details as there might be hidden fees associated with these seemingly free ETFs. This article will focus on researching and trading ETFs on TradeMonster.


TradeMonster Review


How to Find ETFs on TradeMonster


TradeMonster provides a user-friendly screening tool that allows you to sift through and filter their extensive selection of over 2,000 supported ETFs. The tool enables you to refine your search based on criteria such as fund family, strategy, yield, and expense ratio, among other fund characteristics. For instance, in the screenshot below, we are exploring commission-free ETFs in Emerging Markets, and the tool presents us with 14 ETFs to compare.


Comparing ETFs


TradeMonster also offers a convenient comparison tool that allows for a detailed side-by-side analysis of a selected group of ETFs that stand out from your list. Let's suppose that in the previous screenshot, two ETFs, tickers SDEM and EMFM, caught our attention. In the following screenshot, we can see that by entering these tickers into the comparison tool (up to five can be compared at once), we can assess the ETFs' returns, yields, expense ratios, and more. SDEM and EMFM exhibit the same 3-year return, but we notice that EMFM has a slightly more competitive expense ratio.


How to Buy ETFs on TradeMonster


Once you have identified the desired ETF for your portfolio, let's say we have chosen EMFM for our exposure to emerging markets, you can place an order by navigating to the "Trading" section and selecting "Stocks/ETFs" in the menu below. Enter the ticker symbol for the ETF you wish to purchase (EMFM), specify your action as "Buy," indicate the number of shares you want (let's say 20), select the order type as "Limit," specify the maximum price per share you are willing to pay (e.g., $20.45), and finally, choose the duration for which you want the order to remain active (Good for Day). After previewing the order to ensure accuracy, simply hit the submit button.


ETF Commissions


At TradeMonster all ETF trades now have $0 commission.


TradeMonster Review Summary


In summary, TradeMonster provides a well-designed ETF trading platform and research/screening tool. It offers a comparable breadth of ETF coverage and screening capabilities to platforms like Webull's. The costs and fees associated with ETF trading are also quite similar between the two brokers. However, frequent ETF traders may find TradeMonster more favorable due to their discounted prices for high trade volume.


About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com. He has been an avid investor for 25 years, and has a background in both applied math and programming.