tastytrade SPOTLIGHT
Investormint Rating 1 2 3 4 5 4.5 out of 5 stars	Commissions: Closing trades for Stocks & ETFs and Options are commission-free Account Balance Minimum: $0 Commissions: $0 flat rate for stocks Get Started via tastytrade secure site

If you are thinking of getting started in day trading, the first step is to get a clear understanding of the process – and the risks.

Next, you need a brokerage account that permits this sort of activity – and not every online service does.

Fortunately, you can day trade on tastyworks, as long as you meet certain eligibility requirements.

What Is Day Trading?

Day trading gets its name based on the fact that investors buy and sell the same securities within the same day.

That’s relatively unusual behavior for other types of investors, who tend to hold shares for weeks, months, or years.

In fact, some of the most successful investors keep the same shares in their portfolios for decades. For example, Warren Buffett has held onto Berkshire Hathway’s Coca Cola stock for more than 30 years, and he says he says he has no plans to sell.

The underlying concept of day trading is the fact that securities move up and down throughout the day, before settling on a closing price.

Sometimes, that movement is very slight, but if timed correctly a large purchase and quick sale (or vice versa) can generate solid profit – particularly when the trade is related to currency or highly liquid stocks.

>> Best Penny Stock Brokers

How To Day Trade Stocks Successfully

Day traders can theoretically practice this strategy in any market, but the activity is most common in stock markets and foreign exchange markets.

Essentially, day traders develop an understanding of what influences certain types of securities, and how that influence translates into intraday ups and downs.

Some factors that are considered include national and international news reports, which are somewhat unpredictable, as well as more predictable scheduled announcements like earnings reports, economic reports, and similar.

The idea is to become attuned to patterns – how the market and individual securities move under a given set of circumstances. For example, share prices often rise in advance of corporate earnings reports, then drop suddenly once the news is made public.

>> Best Warren Buffett Books To Read

How Much Money Do You Need To Day Trade?

The trouble with day trading is that earning real profit requires a relatively large investment.

The movements being exploited during this short window are comparatively small, so buying a few shares only generates a few dollars in profit.

Often, day traders invest a lot of their own cash, as well as large sums borrowed from their brokers – referred to as margin accounts.

A minor miscalculation can lead to dramatic losses of principal, not to mention the borrowed funds.

The risk potential is exceptionally high in day trading, which means it isn’t the right choice for those who are new to investing.

It is also a bad idea to attempt day trading with money you can’t afford to lose.

Given the interest in day trading from those who are new to the market, tastyworks offers a stern warning on the risks. The company says:

• Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance.
• You should be prepared to lose all of the funds that you use for day trading.
• In particular, you should not fund day trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses.

If you are confident that you are ready for day trading, here’s what you need to know.

>> tastyworks vs thinkorswim

Is Pattern Day Trading Legal?

According to FINRA (the Financial Industry Regulatory Authority), the official definition of pattern day trading is when:

• an investor has four or more same-day trades within five business days, and those day trades are more than six percent of the investor’s total number of trades in the same five business days.

It’s important to note that  individual brokerage firms might have more restrictive definitions, as outlined in their policies and procedures.

This practice is legal, but certain eligibility requirements apply.

>> tastyworks vs Robinhood

What are the Rules for Day Trading?

While individual firms might have their own set of rules and requirements for day traders, two are universal.

They are set by FINRA in an effort to protect inexperienced investors from excessive risk.

1. Day traders are required to have at least $25,000 in their brokerage accounts.
2. They are only permitted to trade in margin accounts.

>> Interactive Brokers vs tastyworks

Why Do You Need $25,000 to Day Trade?

The short answer to the question of why you need $25,000 to day trade is this: for your protection.

There is substantial risk in this practice, particularly for inexperienced investors.

The theory is that if you have an account valued at $25,000 or more, it is likely that you have at least some experience in the market.

>> How To Invest $20,000

Can You Day Trade Without $25k?

While you can experiment with an occasional day trade, you can’t make a habit of day trading if your balance is lower than $25,000.

It’s a legal requirement, and brokerage firms are strict about enforcement.

Your ability to trade will be suspended until your balance returns to the required $25,000.

>> Is tastyworks the best trading platform?

Can You Day Trade on tastyworks?

You can day trade on tastyworks, but there is an important point to consider. As a day trader, you are likely to make multiple transactions per day.

You might be responsible for fees or commissions on some or all of your trades, which adds up surprisingly fast. 

It’s true that tastyworks has a relatively low fee and commission structure, but the impact to your profits should be factored in nevertheless.

>> What Are The Different Types Of Stocks?

Can You Trade Stocks on tastyworks?

If you aren’t quite ready for the risks of day trading, don’t worry – you can still get involved in investing.

When you open your tastyworks account, you gain access to a variety of tools and resources that can help you choose specific stocks to trade.

>> How To Buy Impossible Foods Stock

Do Day Traders Make Money?

Day trading is something of a controversial practice, so industry experts and analysts keep a close eye on relevant statistics.

The data show that some investors are able to make money through day trading, but it requires experience, a deep understanding of the market, and undivided attention to unfolding market conditions.

Those who are well qualified can generate as much as 50% or more annually. The key is that when the trade is successful, they earn more than they lose when a trade fails.

It is worth noting that generating a profit through day trading also takes cash. The magic number appears to be around $50,000.

Attempting to day trade with a lower amount doesn’t tend to generate the type of returns one would expect given the effort required.

Investing $50,000 or more certainly doesn’t guarantee success – it’s as easy to lose $50,000 as it is to lose $500,000 – but it does increase the odds of success somewhat for an experienced day trader.

>> How To Buy JM Family Enterprises Stock

The article Can You Day Trade On tastyworks? was originally posted on Investormint

blooom is unique among robo-advisors because it specializes in helping investors manage employer-sponsored retirement plans automatically.

Like other robo-advisors, blooom Inc uses computer algorithms to build retirement portfolios. And it goes a step further by connecting customers to financial advisors, who are available by chat, email, and phone during weekdays.

During our blooom review, we were pleasantly surprised to discover that the cost of managing a 401(k) starts as low as $95 per year. The low fee is compelling, especially when you consider that most other robo-advisors steer clear of defined contribution plans.

And unlike some robo-advisors, blooom won’t penalize newcomers with any account minimum hurdle. In fact, when you weigh up the pros and cons, it’s easy to see why blooom offer tremendous value.

Blooom Promo Code

BLOOOM SPOTLIGHT
InvestorMint Rating 1 2 3 4 5 4 out of 5 stars	Management Fee: $95 – $250 Account Minimum: $0 Get Started via Blooom secure site

How blooom Works

You can create a blooom account and connect easily to your existing 401(k), 403(b), 401(a), 457 or TSP plans. blooom will then analyze your portfolio for free.

If you are not sure whether your portfolio is optimized for your age, risk, and goals, blooom evaluates it using proprietary computer algorithms at no cost.

Here is a quick demo and overview of how blooom works:

Although blooom can analyze and make changes to your portfolio, it cannot withdraw funds from your account.

Once your account analysis has been completed, blooom factors in your age and timeline to retirement in order to build a target portfolio for you.

After blooom reviews your portfolio composition, it recommends investments from up to 14 asset classes.

Where blooom adds value to you is by crunching through thousands of options to select the optimal investment in each asset class to meet your needs.

Usually, low-cost index funds are favored but every once in a while blooom will select an actively-managed fund if it is a better match for your risk level and retirement goals.

Finally, blooom reviews your portfolio to ensure the portfolio built by its algorithms is indeed a match for you and fund changes are made.

Every 90 days, your portfolio will be re-analyzed to ensure portfolio weightings align with your capacity for risk and financial goals. And each time a change is made, blooom alerts you to the funds which are replaced.

blooom Inc Cost & Features

blooom Review: Is It Right For You?

blooom is designed for price-sensitive investors who want to hand off portfolio management to a financial advisor. 

Risk-Seeking Vs Risk-Averse Investors

When you join you will be invited to enter your birth date and specify when you plan to retire. With this information, blooom knows your age and the duration before you retire. It then constructs a portfolio to match your capacity for risk and financial aims.

blooom leans somewhat aggressive in its portfolio composition. Equities are weighted heavily until about 20 years out from retirement when bonds feature in the mix more prominently.

Because of the higher exposure to stocks, blooom is ideal for investors who are more risk-seeking than risk-averse.

Investors Seeking Professional Portfolio Management

Many research studies have shown that investors who receive professional financial advice outperform those who invest alone.

The reason so many investors fall short of the mark without advice is because, according to blooom, they make three major errors.

The first is to build a portfolio of bonds and stocks that have an incorrect mix compared to their risk tolerances and financial goals.

Next, investors frequently fail to diversify their 401k plans and instead invest heavily in a single company. Usually they are biased towards investing in the company that employs them.

And lastly, they don’t want to face the challenge of managing their retirement accounts, so they stick their heads in the sand like an ostrich!

Price Sensitive Investors

For investors who see the value of expert financial advice and care about the cost of receiving it, blooom is hard to beat because it charges a low annual fee.

For a low annual fee, blooom will identify areas of improvement in your existing 401(k) portfolio, make changes, and provide ongoing management of your existing portfolio.

Fix Your 401k with blooom

Investors Seeking Alternative To Financial Advisors

Unless you pay a financial advisor a much higher fee (most likely), blooom is a compelling alternative. Not only is it an excellent option for investors who don’t want to pay a dedicated financial advisor, but it is also unique among robo-advisors.

Few robo-advisors dabble in 401(k)s because they can be a nuisance to manage. Each employer has its own set of limited securities in which employees can invest and it’s a difficult challenge to automate portfolio management of defined contribution plans.

For this reason, even the robo-advisors who advise on 401(k) plans, like Personal Capital, won’t manage them for you.

In fact, if you want your 401(k) plan managed automatically, blooom is really your only option.

blooom is best for:

• Retirement-focused investors
• Beginner investors
• Fee-conscious investors
• Hands-off investors
• Investors who are more risk-seeking than risk-averse

Fix Your 401k with blooom

blooom Fees Are Low

According to blooom, the average client could save over $60,000 in hidden fees over their working life based on a balance of $43,310 and an average annual contribution of $5,000.

blooom charges an annual fee that starts from as low as $95 for its Essentials package to as much as $25o for its Unlimited package.

The lifetime savings by choosing blooom amount to an astonishing $60,000 in fees based on an average balance of around $43,000.

To save you so much money, you might assume that blooom costs a fortune but in fact the flat annual fee is very affordable, especially for large accounts.

blooom fees

• $95 – $250 Annual Management Fee
• $0 Account Minimum

Compared to traditional financial advisors or other robo-advisors, this fee is very competitive. The $95 fee gets you a personalized portfolio but lacks the auto optimization.

The Standard package will include all the features of the Unlimited package but without the priority advisor access.

For $250 a client receives:

• Personalized Portfolio
• Auto Optimization
• Transaction Activity Alerts
• Advisor Access
• Priority Advisor Access

That still compares well to a human advisor but it’s higher than Betterment and others charge to manage IRA and taxable portfolios.

The gotcha is the only place to manage your 401(k) automatically is blooom so choosing another robo-advisor is not a viable choice.

In our view, the fee is fair given the unique service blooom offers and the fact that clients have access to live advisors by email, chat, and phone.

Fix Your 401k with blooom

How Are blooom 401k Portfolios Invested?

blooom analyzes your existing 401k, removes portfolio holdings that don’t align with your objectives or cost too much, and replaces funds with others that better align with your target allocation and financial aims. 

The following algorithm is applied to assess and optimize your portfolio:

1. blooom analyzes your existing 401k and remove funds that don’t make sense.
2. To keep fees low, blooom generally selects index funds but, every once in a while, actively-managed funds are chosen.
3. After selecting funds that align with your target allocation, computer algorithms select investments to optimize for expense ratios and fund manager experience.
4. Finally, blooom verifies the results and compares the new portfolio with your recommended 401(k) allocation.

Every 90 days thereafter, your portfolio is re-analyzed to ensure selections and weightings are optimal. If needed, your portfolio will be automatically rebalanced.

As you come closer to retirement, blooom will automatically modify the weighting of stocks in your portfolio to create a more conservative portfolio.

blooom App & Tools

You can link an existing 401(k) account to blooom in order to measure fees, and evaluate its composition, and allocation.

blooom makes it simple to analyze an existing 401(k).

Simply link to your existing provider after setting up your blooom account in order to view how well your current 401(k) is performing.

Hands-off investors can leave it to blooom to manage their 401(k) while self-directed investors can act on the recommendations provided.

Where blooom earns a few extra brownie points is its risk tolerance assessment.

Risk tolerance measures are factored into the sign up process using an adjustable slider that allows you to change your allocation by up to 20% either way from the suggested allocation.

blooom Pros and Cons

blooom charges a low, flat annual fee. The onboarding process is easy and it’s free to analyze your existing portfolio.  If blooom were to be docked a few points, it would be the high fee as a % of assets under management on smaller account sizes.

Fix Your 401k with blooom

blooom Fees & Minimums

blooom imposes no account balance minimum, charges a low annual fee for account management and automatic rebalancing.

blooom Account Types

blooom supports employer-sponsored plans: 401(k), 403(b), 401(a), 457 and TSP.

blooom Review Summary

Unlike most robo-advisors, which focus on taxable and IRA accounts, blooom is unique because it manages 401(k) plans automatically for a low yearly flat fee.

By imposing no account minimum, blooom makes it easy to get started. And by charging nothing to analyze your 401(k), there is no reason not to give it a whirl.

If you are like the average blooom client, you will experience instant fee savings and, over the life of the account, potentially save as much as $60,000.

The bottom line is if you have a defined contribution plan, like a 401(k), 403(b), or 401(a), blooom offers compelling value at a fair and flat yearly rate.

Fix Your 401k with blooom

The article Fix Your 401(k) with Blooom (Review) was originally posted on Investormint

tastytrade SPOTLIGHT
Investormint Rating 1 2 3 4 5 4.5 out of 5 stars	Commissions: Closing trades for Stocks & ETFs and Options are commission-free Account Balance Minimum: $0 Commissions: $0 flat rate for stocks Get Started via tastytrade secure site

In this tastytrade review (previously known as tastyworks), you will see why experienced stock and options traders who are looking for rock bottom trading commissions and a world class trading platform will find this discount broker hard to beat.

tastytrade is no longer the new kid on the block; it’s an established broker with a trusted trading platform backed by some of the most well-respected names in the options trading industry. Tom Sosnoff, who co-founded thinkorswim® has been a key team member. And thanks to his vision and pioneering innovations, tastytrade has become a truly unique brokerage.

At tastytrade, expect low commissions, powerful tools, customizable screeners, and extensive education. You can even follow other traders to see what trades they are placing and view their historical performance records.

Self-directed, fee-conscious, active traders will struggle to find a more trader-friendly platform or more knowledgeable support staff. It’s clear that the executive team took the baton from thinkorswim and have built an exceptional platform worthy of consideration by any serious stock, options, or futures trader.

tastytrade Features

tastytrade Platform Review

tastytrade was built for self-directed stock, options, and future traders who have an eye on costs and and want to actively manage their portfolios.

What makes the tastytrade brokerage shine brighter than most other discount brokers is its unique fee structure.

Price-sensitive Traders

tastytrade was the first options broker to provide commission-free closing trades. When you close a stock or options trade, you pay zero commissions (a clearing fee of $0.10 per contract is applied by the exchange), and you pay $0 commissions when opening stock trades too.

Unlike most other brokerage platforms who charge you when entering and exiting trades, tastytrade has made trading actively even more affordable with its innovative fee policy.

Social Trading

Perhaps the most innovative aspect of the tastytrade platform is its social features, which enable you to follow other successful traders.

You can view the annual returns of other traders and follow the strategies of the most successful ones. But don’t worry, your own trades are not disclosed.

During our research, we followed trades executed by tastytrade CEO, Kristi Ross, and were impressed to discover that not only were options strategies easy to follow but she explained her reasoning behind them too. At the time her record was 17%, which beats the pants off a savings account rate!

Open a tastytrade Account

For new and experienced traders alike, this “look-over-the-shoulders-of-experts” feature is a game-changer. No longer are you left to trade solo and isolated as you are on other platforms but instead you can follow the trading activity of proficient traders.

And tastytrade goes a step further by categorizing traders you can follow as “expert””, “intermediate”, or “novice” so you are not left wondering about the skill-level of the person you are following.

Live Education Daily

Yet another innovative and valuable aspect of the tastytrade platform is the live eduction daily.

When you login, simply select the tastytrade icon and a streaming, real-time video feed opens up featuring live shows that are jam-packed with useful tips and education to improve your trading skills and knowledge.

The education doesn’t stop there. tastytrade also provides an educational video series, called Step Up to Options, with Rachel Fox.

The knowledge bank includes a detailed look at options strategies, such as:

• Covered calls
• Married puts
• Collar trades
• Long options and short options
• Spread trades
• Bull puts and bear call credit spreads
• Bull call and bear put debit spreads
• Butterfly and iron condor strategies
• Ratio call backspreads and ratio put backspreads

tastytrade Grid

Unlike traditional brokerage platforms, tastytrade has a different look and feel from start to finish. It’s clear the tastytrade team wanted the trading platform to be refreshing and trader-focused. And the tastytrade Grid is one example of how the platform is designed by traders for traders.

The Grid highlights noteworthy stocks and displays price changes in real-time. Whether you want to see the latest price changes, daily changes, or even view detailed information like implied volatility, it’s all at visible at a glance.

No more burying through watchlists to see how your stocks are performing for the day. Now you can spot the ones in the green and red instantaneously.

Open a tastytrade Account

tastywork paper trading

Although tastytrade is ideal for experienced traders, newbies will find tons of value too. For example, a trade journal is provided to help you jot down what went well or poorly when trading or paper trading.

For new traders, this tool is especially helpful when you want to look back and see the ingredients that led to successful trades.

Is tastytrade Right For You?

tastytrade is geared towards traders who are experienced stock, options and futures traders or those keen to become more proficient.

Whether you are on-the-go and want to use its mobile platform or at your desktop and prefer its browser-based interface, trading is made convenient no matter whether you are a long-term investor or a short-term trader.

The tastytrade platform is best for:

Visual Traders and Investors

The trading interface is highly innovative and far more advanced than what you will find at most big-name brokerages.

The flexibility to customize dashboards, execute orders, and visualize risk and reward is unparalleled.

Price-sensitive Traders

Price-sensitive traders will find the tastytrade commissions structure compelling.

In addition to low commissions on opening trades (and $0 when opening stock trades with no limit), no charge whatsoever is applied to closing stock and options trades.

When you trade with this brokerage, you put more of your money to work because you’re not spending it on commissions.

Individuals Who Value A Trading Community

tastytrade isn’t just about making trades.

It’s about connecting with other traders and learning more about how trading works and how successful traders do it!

Live streaming video is available with expert traders who are happy to share trading insights.

If video isn’t for you, they also have tons of blogs and articles about trading and investing to answer all your investment-related questions.

Self-directed Traders

tastytrade is great for self-directed traders!

You can use a laptop, web browser, or mobile platform to buy and sell stocks and options with just a few clicks of the mouse or taps of the screen.

tastytrade also offers quotes and trade information that’s updated in real-time so that you can make the best trading decisions for yourself any time you want to trade.

There are a lot of online trading platforms out there, but tastytrade is one of the best because it goes above and beyond the basics. With this platform, you’ll have all the information at your fingertips that you need to take the next step with your trading.

tastytrade Promo Deal

tastytrade, which competes with thinkorswim®, for the business of active options traders threw down the gauntlet to its rivals by first offering zero commissions costs on closing contracts.

• $0 commission to close options contracts ($0.10 per contract clearing fee applies)

Open a tastytrade Account

tastytrade Pros and Cons

tastytrade is ideal for active stock, options and futures traders looking in search of low commissions, innovative tools, world class education, expert support staff and the ability to follow and view the trades of experts.

For traders on the go, tastytrade offers a fully responsive mobile experience. If you are looking for a tastytrade app when away from your desktop, you can rest easy knowing you can trade even when you step out to your local coffee shop.

You may also be pleasantly surprised to discover that the tastytrade CEO regularly chimes in to answer customer queries, highlighting the company’s customer-centric focus. Plus, we found members of the customer support team to be highly knowledgeable, efficient and professional.

The Benefits of tastytrade

There are various pros and cons when using the tastytrade platform. First, the benefits:

• There are various account options to choose from. However, The Works will provide you with everything you need. This type of account is really easy to use and has loads of features.

• There are no closing fees on stocks and options on futures, which could save you a large sum of money. While some other online brokerage platforms may charge you exorbitant fees for these trades, you won’t have to pay anything here at all.

• There is a wide range of customer service options for all traders, meaning you can contact a member of staff by email, live chat, or phone if you have a query about your account or just need some additional help.

• Opening a new trading account is easy and can take as little as 15 minutes.

• You can access tastytrade on your desktop computer or mobile device.

tastytrade SPOTLIGHT
Investormint Rating 1 2 3 4 5 4.5 out of 5 stars	Commissions: Closing trades for Stocks & ETFs and Options are commission-free Account Balance Minimum: $0 Commissions: $0 flat rate for stocks Get Started via tastytrade secure site

The Disadvantages of tastytrade

• You can’t invest in mutual funds or bonds. For the more experienced trader, this might be a problem. However, even seasoned traders can benefit from the low fees and commissions on the investment options available.

• New traders might find that the multiple features and account options are a little confusing. With time, though, they can trade on this platform quickly and easily.

• The mobile app doesn’t work on some older devices.

What Can You Trade at tastytrade?

tastytrade lets you invest in various assets, but you need to open an account first. There are various account types, so you need to find the right one for you.

The most common type of account, “The Works,” boasts the following features:

• Futures and options on futures
• Stock and options on stocks
• The opportunity to trade all available products
• Covered and uncovered options
• Covered and uncovered option spreads

tastytrade does not feature mutual funds on its platform. These funds conflict philosophically with the aim of the management team to empower traders to become stewards of their own portfolios – as opposed to buying mutual funds that compensate portfolio managers.

Open a tastytrade Account

tastytrade Commissions & Fees

You won’t be charged data or inactivity fees, and no account balance minimums nor any commissions are charged when closing options trades.

OK, this is where things get interesting. The problem with many online brokerage websites is that they are just too expensive to use. Many users have to pay exorbitant fees and/or commissions on any investments they make, which will eat into their profits.

With tastytrade, this isn’t the case at all.

“We all want low commissions. Lower commissions mean more freedom to place more trades more efficiently. That’s why we offer a great rate to open trades and an even better one to close them,” according to the company.

Here’s the latest pricing structure, which is very reasonable:

Options on stocks:

• $1.00 per contract ($10 maximum per leg) for opening trades.
• $0.00 for closing trades (plus commission and applicable fees).

Stocks:

• $0.00 for unlimited shares on opening trades.
• $0.00 for closing trades (plus commission and applicable fees).

Options on futures:

• $2.50 per contract on opening trades.
• $0.00 for closing trades (plus commission and applicable fees).

Futures:

• $1.25 per contract on opening trades.
• $1.25 per contract for closing trades (plus applicable fees).

These prices are very competitive. You will also notice that there is no closing fee for the second trade on stocks and options on futures, which could help you save money in the long run when making investments.

Typically, you will need to pay extra for banking fees. These are things like:

• Check copies
• Foreign checks
• Domestic Wires

You will also need to pay any trade-related fees, which are things like:

• NFA fees
• Paper confirms
• Exercise and assignment fees

Again, these fees are competitive when compared to other online brokerage platforms.

tastytrade’ fees are competitive because their accounts are designed for active traders. If you are new to online trading, you can still use this platform, of course.

The unique fee structure on this platform, however, makes it easy to trade online. You know exactly what you are paying for, and there are no hidden surprises. This is just one of the reasons why it is one of the most popular online brokerage platforms for active traders.

Open a tastytrade Account

How to Access tastytrade

Unlike some other online brokerage platforms, there are plenty of ways you can open and access your account and start trading.

Desktop

Obviously, you can log into your tastytrade account on your desktop computer and access trades with the click of a mouse.

There are two ways to do this, though. You can either download trading software onto your desktop computer or access your account directly through your web browser. The choice is yours. If you don’t want software slowing down your desktop, choose the browser option.

Some people prefer to download software to their computer for a more seamless trading experience, but the browser version of tastytrade operates just as well.

Mobile

You can also open and access your account on your smartphone or tablet. This means you can access trades wherever you are in the world with a swipe of a finger.

Again, there are two ways you can access tastytrade from your mobile device. You can download the company’s official app from the App Store or Google Play. Alternatively, you can visit the tastytrade website directly through your mobile browser.

Both the desktop software and mobile app are easy to use and work well on various devices. However, bear in mind, that the mobile app won’t work on older devices, including the iPhone 5.

Open a tastytrade Account

tastytrade Account Types

The account types available at tastytrade include:

Here are some of these other accounts in a little bit more detail:

Traditional IRA

“A retirement account eligible for persons with earned income or who file a joint return with a spouse who earns income,” says tastytrade.

Corporate

“Corporate accounts are opened on behalf of a legally established US entity.”

International

“Margin and cash accounts are available to our international customers.”

Tenants in Common

“A joint account type in which two owners each have a specific proportion of the account’s assets.”

How to Open an Account

Once you have chosen the type of account you want to open, the registration process is really simple. In fact, the whole thing could take you as little as 15 minutes.

Just enter a few details about yourself, as well as a valid email address. You will also need to enter other information such as your employer details and a current bank account.

This will verify your identity and ensure that tastytrade remains a safe, secure platform for all traders.

Once you’re done, you will receive an email with all of your confirmation details. Don’t delete this as you might need it in the future. You will also need to choose a username and password so you can log into your account.

Remember, though, it can take a couple of days for tastytrade to approve your account.

Open a tastytrade Account

How to Get Started

Now you’ve opened an account, know about fees, and the different types of trades available, it’s time to optimize your online trading experience.

Once you log into your account, you will find an easy-to-use dashboard that has all the trading information you need.

Here, you can change your bank details and other financial information, update your preferences, and access customization options. The great thing about tastytrade is that you can personalize your trading experience and make it work better for you.

There are other features, too. You can do all of the following:

• Create your own portfolios quickly
• Add possible trades to watchlists and receive notifications in real-time
• Follow other traders on the platform in real-time
• Access trading information with the latest charts and graphs

This last feature is really useful. It allows you to compare and contrast different trade histories so you can make better financial decisions and investments. You have access to all of this information on both desktop and mobile, so use it wisely!

Depositing and Withdrawing Funds

With tastytrade, deposits and withdrawals don’t have to be a big deal. You can do all of this from your personalized dashboard, too, which will save you a lot of time. There are no deposit fees, either.

There are a few things to note, however. There is no credit card or debit card option for withdrawals and deposits, which means you need to transfer funds from your bank account and do the same when you remove money from the platform. This can be a hassle, but it’s no big deal.

You also need to know that there is a withdrawal fee, so you might want to wait until you accumulate funds before you move money back to your bank account.

The withdrawal fees are:

• $25 for people in the U.S.
• $35 for people outside the U.S.

Although this seems expensive, these fees are competitive and similar to many other online brokerage platforms.

The withdrawal process can take a few days, so you should make alternative plans if you need funds.

Placing an Order

If you want to place an order, you will find the process simple.

There are three order panels on your dashboard. Two of these are for options and one is for stock. When placing an order on stock, you can choose from the following four order types:

• Limit
• Stop limit
• Market
• Stop market

If you get stuck, you’ll find various resources that help you navigate the platform properly. Refer to these documents to receive the latest tips, for example, on how to place orders.

Open a tastytrade Account

More About the Platform

You will soon familiarize yourself with the tastytrade platform, but here are some of the basics.

Once you log in and access your dashboard, you will notice that the platform displays your watchlists on the left-hand side of the screen. Here, you can check out your favorite trades and possible future investments in one place without having to click on multiple screens.

tastytrade displays options chains, building strategies, and charts in the center of the screen. Again, you won’t have to navigate through multiple menus or screens to access this information.

Finally, on the right-hand side of the screen, you will see position details and alerts.

Remember, you can customize all of this data so you can see the features that matter the most to you.

What About Customer Service?

Perhaps the stand out feature at tastytrade is its numerous customer service options available.

This means you can talk to a member of staff if you want to find out more about withdrawal or deposit options or discuss a problem with your account.

While some other online brokerages will leave you waiting for days to hear a response from a member of staff, tastytrade takes customer service seriously.

There are three main contact options if you require customer service or technical support. These are:

• Email
• Phone
• Live chat

Not every online brokerage has a phone option, so this is definitely a plus. The live chat feature is also great as you can receive a response to your query in real time without any of the fuss. Finally, email lets you communicate with staff quickly wherever you are in the world.

What About Security?

It can be daunting using an online brokerage, especially if you are new to trading. What happens to all that financial information you provide the brokerage? And, more importantly, is tastytrade safe?

It has a number of security measures in place to ensure all of your data is secure. This includes a two-factor sign-in process.

You will also need to validate your identity with the relevant documents when you sign up for a new account.

Plus, tastytrade might undertake a soft credit check in order to confirm your identity. This is nothing to worry about and will ensure the platform is safe for all traders.

Open a tastytrade Account

Tips for Using the Platform

Here are some tips for making your trading experience easier:

• You can search for trades on both the software, browser, and app version. This makes it much easier to find the information you are looking for quickly. You can also filter search results.

• If you want to keep track of all your trades, you can export your tastytrade portfolio to a CSV file really easily.

• There is a wide range of educational videos that explain how to make the most of your trades when investing online. Check these out and hear from experts in the industry.

• If you want even more trading advice, check out live TV segments every Monday through Friday, which are produced by legendary options trader, Tom Sosnoff, as well as co-host Tony Battista. These videos cover a wide range of topics, including trading advice, the latest news, options, and more.

Verdict

Whether you are new to trading or an experienced trader, you will find plenty of features available on tastytrade.

You can open a new account in as little as 15 minutes and trade on stock, options on stock, futures, and options on futures from the comfort of your own home on a desktop or mobile device.

Sure, other platforms might have more investment options. If you want to trade mutual bonds on tastytrade, for example, you will need to look elsewhere.

However, with low fees and commissions, and no closing fees on stocks and options on futures, you could save money in the long run.

Other benefits include excellent customer service, ease-of-use, and plenty of resources that will provide you with all the information you need when trading online.

Newbies might find some of the features a little bit confusing at first, but they will soon optimize their trading experience on this platform.

tastytrade Review Summary

Searching for an online brokerage platform that provides you with more value for money?

Look no further than tastytrade, an ideal platform for active stock, options, and futures traders. As a trading platform built by traders for traders, it has bells and whistles that are unmatched across the industry.

The social component of the platform distinguishes it from most other brokers. You can view expert traders, follow their trades, and learn from their explanations about why they entered positions.

Plus, you can stay tuned to the tastylive real-time financial network to learn tips and tricks about trading strategies.

For stock and options traders, the no-commission charge on closing trades is a money-saver and a compelling reason to sign up.

The bottom line is if you trade stocks, options, or futures and want an innovative, low-cost, powerful brokerage platform that is dedicated to helping you improve your trading skills, tastytrade is well worth checking out.

Open a tastytrade Account

The article tastytrade Review 2023: $0 Commissions Stock Trades! was originally posted on Investormint

Chalk and cheese might be the best way to compare Robinhood vs E-Trade.

Robinhood is a no-frills investment app that allows you to buy and sell shares of stocks and ETFs at no cost. It also offers crypto trading.

E-Trade, on the other hand, is the proverbial powerhouse with cutting-edge technology, albeit with standard commissions charges to enter and exit portfolio positions.

Is Robinhood or E-Trade better? It very much depends on your goals. As you’ll discover, each has its merits but most likely one will jump out at you as a perfect fit. You’ll pay more at E-Trade but you’ll also get more bang for your buck.

Let’s compare these two brokers to find out which stands out when examining costs, tools, features, platforms, account types, investment minimums and more.

E*TRADE vs Robinhood Features

Robinhood is much more of a bare-bones operation when compared with E-Trade.

On Robinhood, which notably has no fees and no minimum account balance, you can trade as you wish. You can do that from your computer or with a mobile app, so with the push of a button, you can be a player in the stock market.

E-Trade has 3 trading platforms. Each of these platforms have charts and tools you can use to plan your strategy and analyze your past returns.

You can browse through all of their educational materials to learn more about investing in general as well as the specifics of certain types of securities. It has a fully staffed customer service department, and it maintains 30 brick-and-mortar locations.

>> Compare M1 Finance vs Robinhood

Fee Comparison

When it comes down to trading, no one likes forking over money every time they buy or sell. While transaction fees are usually minimal, they could add up if you’re an active trader.

You would also want to think about the volume at which you’re trading because a small trading fee could mean a lot more if you’re only trading $100 worth of stock versus $1,000.

Robinhood Commissions

You can’t get lower than Robinhood’s zero commissions for transactions. This applies to both stocks and options. It costs $10 to make broker-assisted trades.

Additionally, there are no annual, activity, or ACH transfer fees. To make an ACAT outgoing transfer, you’ll be charged $75.

If you want to take part in margin trading, you can upgrade to Robinhood Gold for a few bucks a week. 

The monthly fee is typically between $10 and $15, depending on your situation. For that fee, you get to make instant deposits and start trading 30 minutes before the market opens.

It also gives you the option to keep trading for two hours past closing.

ROBINHOOD
InvestorMint Rating 1 2 3 4 5 4 out of 5 stars	Stock, ETF, Crypto Commissions: $0 Account Minimum: $0 Robinhood Gold: Tiered monthly fees Get Started

E*TRADE Fees

You’ll have to pay $6.95 for each stock trade, and for options, you’ll pay $6.95 plus $0.75 per contract.

There are volume discounts available for both types; this drops the fee to $4.95. 

You won’t be charged anything for no-transaction-fee funds, but you will be charged $19.99 for those that come with a transaction fee.

Broker-assisted trades cost $25 plus commission.

There are no annual or inactivity fees here, either. To make a full transfer of your account, you’ll be charged $75. For a partial transfer, the fee is $25.

Trading Platform Comparisons

Robinhood provides a streamlined process for accessing an account. Its system consists of a web platform that you can access from your computer or mobile device.

It favors simplicity over bells and whistles. If you only need some basic information before proceeding with your trades, this could be just fine.

In contrast, E-Trade has three platforms:

• E-Trade Web
• Power E-Trade
• E-Trade Pro

It offers real-time quotes to look through and interactive charts that you can use to gauge future opportunities.

E-Trade Pro is an advanced desktop platform that you can access if you make at least 30 trades per quarter or have a minimum of $250,000 in your account.

With this platform, you can customize your own watch lists, further explore risks and opportunities through charts and screeners, and have the opportunity to get an early start with trading hours that begin at 7 a.m. EST.

>> Best Online Brokers For Free Stock Trading

Investment Securities Comparison

Open an E-Trade Account Open a Robinhood Account

Investment Minimums

Take a closer look at E-Trade’s and Robinhood’s investment minimums to decide which is best for you.

E-Trade Investment Minimum

You’ll need $500 to open up an account. The only exception applies to retirement accounts, which do not have any minimums.

ETRADE SPOTLIGHT
InvestorMint Rating 1 2 3 4 5 4.5 out of 5 stars	Promo: 60 days of commission-free trades with $10,000+ deposit Pricing: $6.95 per trade Easy navigation, extensive screening tools, and excellent customer support Minimum Initial Account Balance: $500 Get Started

Robinhood Investment Minimum

There is no minimum required to open up an account. This completely takes down any financial barrier to getting started, so you could theoretically join Robinhood at any time.

>> Scottrade vs E-Trade

Account Types

Robinhood Account Types

In contrast to E-TRADE, Robinhood only offers individual taxable and cryptocurrency account options.

For investors looking to squirrel away savings from a 401(k), blooom is a better option.

Or if you have an IRA or other retirement account, E-Trade will be more suitable.

E-Trade Account Types

When it comes to types of accounts, E-Trade has many more options than Robinhood.

E-Trade gives you the option to have an individual account or a joint or custodial one. You can also open up a:

• Traditional IRA
• Roth IRA
• Simple IRA
• SEP
• Rollover IRA.

Additionally, E-Trade supports trusts, solo 401(k)s, and Coverdell accounts.

You could even open up a checking account and apply for a line of credit through E-Trade. With so many options, E-Trade can serve as a supplemental account or be your main banking institution.

Tax Strategy

Robinhood Tax Strategy

There is a page on the Robinhood website dedicated to common tax questions. It has different forms that you can download and print.

In addition, Robinhood supports Intuit TurboTax, and clients can use TurboTax Premier to import their financial history.

Here’s a quick primer on how to file Robinhood taxes on TurboTax.

E-Trade Tax Strategy

This company focuses on client education, and offers extensive information available on tax strategy.

Because it offers a full array of retirement accounts, experts can guide you through various decisions.

It might depend on your situation whether you open up a taxable account or another account type.

The E-Trade support team can talk you through options related to tax deferment, individual savings, and employer-sponsored savings. You can access assistance online, over the phone, or in person at a branch.

Open an E-Trade Account Open a Robinhood Account

Customer Support Comparison

Robinhood

If you need help with anything on Robinhood, you can look through the FAQs to see if others had the same question.

You can also submit a help request online, and someone should get back to you with information.

There is no phone or live-chat support, but you can email them through the website for assistance.

E-Trade

E-Trade, in contrast, has a strong customer support department.

Like Robinhood, it has an FAQ section, but it also offers support via phone, email, chat, and in-person assistance.

The company runs 30 locations across the nation. In any of these branches, you can walk in and ask your questions.

These branches host seminars and educational events that are open to anyone.

If you wish to stay online to learn more, you can visit their forum where you can discuss strategies with other investors.

For more full-scale service, you can opt to open a managed portfolio overseen by a financial advisor.

Mobile App Comparison

In addition to using each of their websites, you can use an Apple Watch to keep an eye on your accounts or download the iOS or Android apps to your device.

The Robinhood app has alerts that you can customize. It also gives you the opportunity to listen to live earnings calls and provides you with a news feed that you can scroll through to stay current on market developments.

With E-Trade, the app has features that are similar to those you might find on a desktop trading platform.

You can get quotes, read financial news, review charts, and even scan bar codes to get access to information about a particular company while on the go.

Overall Winner:
Which Broker Is Best For You?

E-Trade simply offers more to its clients. Yes, there are higher fees associated with E-Trade, but as the saying goes, you get what you pay for.

In the end, it’s all about what type of brokerage firm you need. These days, everyone tries to take full advantage of technology to make things accessible and efficient. We can all go online and search the same topics, learning as we go. The question is: Do you want to receive support and guidance from someone in the industry as you make investment decisions?

If you do, either because you are just starting out or simply appreciate having a knowledgeable resource, then E-Trade is the way to go. You can do so many things with E-Trade, and because you’re learning along the way, you can hone your strategy and hopefully boost future performance.

If you only want a tool that lets you buy and sell at no cost, Robinhood is probably your best bet.

Aside from the inherent risks of trading, other costs are minimal. It costs nothing to open up an account and nothing to make trades, so you’re free to make as many transactions as you want.

This could be beneficial for people on both ends of the investor spectrum, including those who know a lot already and want to work independently and those who don’t know that much and just want to experiment a bit.

Open an E-Trade Account Open a Robinhood Account

FAQ

What Is Robinhood?

As you might imagine from the name, Robinhood is a brokerage that was created to help bring stock trading to the masses. While it’s not exactly a “steal from the rich” kind of institution, it does allow “less wealthy” investors to have opportunities to grow their money.

Robinhood is an online-based business that has developed a simple way for any individual to invest in the market. It doesn’t matter if you only have $10 or are able to invest significantly more. The barriers to entering the world of trading that exist with other companies are just not present with Robinhood.

Robinhood was launched in 2013 by two founders, and it now boasts millions of users. Its headquarters are in Menlo Park, CA, and many younger investors find its approach appealing.

What Is E-Trade?

If Robinhood is the new kid on the block making waves with different ideas, E-Trade is the old guy who has been around for a while and seems to be able to do just about anything.

E-Trade was founded in 1982 in Palo Alto, CA. Its headquarters are now in New York City. Over the past few decades, it has greatly expanded into many different aspects of the financial industry.

E-Trade gives clients access to a wide range of services and opportunities. Through E-Trade, you can trade stocks and bonds or keep your money stashed with them in an online savings account. You can also open up lines of credit and choose from many other financial options.

The article Robinhood vs E*Trade Comparison was originally posted on Investormint

Shifts in working behavior and drives for equal pay mean women investors are a growing market, and wealth management firms are increasingly trying to create services and offers which appeal to them.

One of these – which we’ll look at in detail later – is Ellevest, a specialist wealth management firm led by women and designed to meet the needs of women investors.

ELLEVEST SPOTLIGHT
InvestorMint Rating 1 2 3 4 5 4.5 out of 5 stars	Ellevest Essential: $1/mo Ellevest Plus: $5/mo Ellevest Executive: $9/mo Get Started via Ellevest secure site

Why Might Women Invest Differently to Men?

Accenture report that women are less likely to be satisfied with their advisors than men are, with just 63% saying they are satisfied and trust their advisor.

Research is increasingly showing that the majority of women have different investing needs to men:

Women’s Pay Peaks Earlier

Despite advances in equal pay, women still earn less and peak earlier.

Research conducted by PayScale reveals that the average woman will reach peak earnings at 44, while men won’t peak till 55. Average peak earnings are $66,700 for women and $101,200 for men.

Women Live Longer

In every country on earth, females outlive males – and the gap has been widening over the last century.

*Source: https://usa.ipums.org/usa/index.shtml

In some countries, the difference is huge – in Russia, women live more than ten years longer than men, for example. In the US, the difference is about five years. Because women live longer, they have to save differently for their future.

Women Are More Likely To Take a Career Break

While not true for everyone, many women are more likely to take a career break than their male counterparts because they want to have children. This means women can’t necessarily rely on investing at a steady rate throughout their career.

Women Have Different Attitudes to Investment

Accenture has found that women are, on average, more conservative than men.

Often they are more interested in investing to achieve particular goals, such as buying a house or retiring, than they are in maximizing gains.

Where Can Women Find Wealth Management Tailored to Their Needs?

Among the wealth management platforms aiming to serve women better is Ellevest, a robo-advisor service led by Sallie Krawcheck. Prior to founding Ellevest, Krawcheck had been CEO at Smith Barney and Merrill Lynch Wealth Management.

She created Ellevest with a mission to “unleash women’s financial power and get them invested in their biggest goals“. To achieve this, Ellevest is not only marketed at women, but takes into account their income, earnings curve, and lifespan differences when constructing portfolios for their customers.

Like other similar services, it only takes a few minutes to get started. Here’s how it works:

• Step 1: You tell Ellevest about yourself, your current financial situation, and your long-term goals.
• Step 2: Ellevest suggests a personalized investment portfolio to help you reach your goals
• Step 3: You can accept Ellevest’s suggestions or edit it until it works for you. You can change the timelines, contributions, targets, and more.

Ellevest Features

Ellevest is a full-featured robo-advisory service. Features include:

• No minimum account balance for Ellevest Digital ($50,000 for Ellevest Premium)
• Account management fee 0.25% (0.50% for Ellevest Premium)
• Investment expense 0.06% to 0.16% (core portfolio) and 0.18% to 0.25% (Impact portfolios)
• Personalized portfolio
• Zero penalties for withdrawal
• Automatic deposits
• Automatic rebalancing
• Ellevest Tax Minimization Methodology
• Personal accounts and IRAs (traditional, Roth, and SEP)
• Ellevest Impact Investing Options (See below)
• Opt-in emergency fund management (with no fee)
• 1:1 access to Certified Financial Planner (Ellevest Premium only)
• 1:1 access to Executive Coaches (Ellevest Premium only)

Ellevest’s Impact Investing Portfolios allow investors to invest part of their portfolio into funds that advance women in the workplace. These funds are made up of both worthy causes (which help women), and companies led by women leaders.

For example, one investment supports an assisted lifestyle community for seniors, and another focuses on delivering sustainable housing for women and their families who have been affected by substance abuse.

Of course, these aren’t just for good causes – the focus is still on giving investors a good return for their investment.

Ellevest FAQ

Is Ellevest Right For You?

Like other roboadvisors, Ellevest offers relatively low-cost investment that is easy to get started with, and of course, you don’t have to be female to take advantage of it (although it is marketed at women).

In particular, Ellevest is best for:

• Women Investors – Ellevest has put significant effort into research and providing the investment options that women investors want. This includes investment strategies that take into account the lower earnings, flatter earning curve, and other challenges. Of course, it also takes this into account for male investors (offering a different plan for their earnings and projected earning curve).
• Advancing Women in Business – Ellevest’s Impact Investing Portfolios is a great way to support women in business if this is something you are passionate about.
• Achieving Specific Financial Goals – Unlike many roboadvisors, Ellevest supports short-term goals, as well as retirement goals. This means it can set up a plan for you to buy a new car, purchase a house, or even take your dream holiday.

Open an Ellevest Account

The article Best Wealth Management For Women was originally posted on Investormint

Fintech startup Robinhood launched its platform with a mission: to disrupt the financial services industry and make trading accessible for everyone. Its vision is the “democratization” of investing, and it gives particular attention to potential investors in the Millennial generation.

As a group, Millennials are struggling with unprecedented financial challenges, such as staggering student loan debt. Robinhood aims to open wealth-building opportunities to inexperienced investors through inexpensive access to the stock market.

For those considering a Robinhood account, the question is whether the platform’s sleek, no-frills tools are a good fit. Aside from buying and selling stock, does Robinhood offer enough access to take advantage of other popular investment strategies?

The good news is that as of early 2018, Robinhood offers opportunities to trade options. In addition, it is moving into cryptocurrency and cash management. It’s an exciting time to be an investor, and Robinhood wants to ensure that everyone can participate.

A Brief History of Robinhood

ROBINHOOD
InvestorMint Rating 1 2 3 4 5 4 out of 5 stars	Stock, ETF, Crypto Commissions: $0 Account Minimum: $0 Robinhood Gold: Tiered monthly fees Get Started

When it rolled out in 2014, Robinhood offered commission-free trades on stocks and ETFs through an exclusive Apple app.

In 2015, the service expanded to include an Android app, and by 2018, Robinhood added a website. Along with these enhancements, Robinhood increased the types of trades and transactions available to account holders, making it a more appealing choice for those just starting out in the market.

One of the most exciting 2018 additions to Robinhood’s menu of services was options trading. Investors gained the opportunity to buy and sell options without paying excessive fees.

In fact, unlike the competition, Robinhood charges no commission or per-contract fees, and no exercise or assignment fees. That’s a big deal for small traders.

Trading Robinhood Options Explained

If you are getting started in options trading and you plan to stick with basic strategies, Robinhood’s website and app make the process simple.

The brokerage platform allows you to buy single leg calls and puts, and you can sell covered calls if you open a long stock position. You can also sell cash covered puts, and you can exercise in-the-money options.

The mobile app gives you an opportunity to experiment with additional multi-leg options strategies. Examples include call and put credit spreads, call and put debit spreads, iron condors, straddles, and strangles.

Just keep in mind that there is limited advice available on whether and how to use these strategies, so its important to do additional research before making an investment.

Can You Day Trade Options On Robinhood?

When you buy and sell the same options contract on the same day, you make a day trade.

Some investors make a career out of trying to capitalize on small changes in the market by making many rapid transactions throughout the day. If you have a cash account with Robinhood, you can make as many same-day transactions as you wish.

However, if you have one of Robinhood’s Instant or Gold accounts, there may be some restrictions.

If the following criteria are met, these investors are referred to as Pattern Day Traders:

• Executes four or more day trades within a five-business-day period
• Number of day trades is greater than six percent of total trading activity during that period
• Uses a margin account to fund the trades

It’s easy to get into financial trouble through day trading when the transactions typically rely on a large amount of credit – referred to as a margin account in the investment world.

To prevent inexperienced investors from getting in over their heads, FINRA (Financial Industry Regulatory Authority, Inc.) created some safeguards. Robinhood allows you to buy and sell options same-day, but if you qualify as a Pattern Day Trader, you must meet FINRA requirements.

The Pros and Cons of Trading Options On Robinhood

Robinhood’s simple, streamlined design is part of the reason it can continue to support commission-free trading.

Unlike most online trading platforms, Robinhood doesn’t offer users extensive data and analysis on individual securities. The expectation is that investors will find this research elsewhere.

For example, tastyworks and thinkorswim both have world class options trading platforms that facilitate extensive options trading research.

The strategy is a sound one – there is no shortage of free investment information online – and by skipping this step, Robinhood cuts its own expenses considerably.

When using Robinhood, you may give up some of the more sophisticated features offered by competitors like e-Trade Financial. For example, your dashboard can’t be customized, and you are unable to run extensive analysis and reporting on your portfolio.

Perhaps the biggest obstacle for beginners is that there is no live customer support. If you have trouble, the answers to your technical questions may be listed in the site’s FAQ section – otherwise, you could be in for a long wait.

Open a Robinhood Account

Is Robinhood a Good Choice for Options Trading?

Before committing to any low-fee/no-fee trading platform, consider this: Robinhood and its industry peers are for-profit companies. If you aren’t paying fees, how do they make money?

Robinhood facilitates your trade orders by sending them to market makers. These are the firms that hold the securities you are buying and selling.

You can think of it like a shop for stocks, options, and other investment products. Market makers pay services like Robinhood to send over your orders. However, there is some question as to whether trades from commission-free platforms get the same high-priority treatment as their more expensive competitors.

When you trade through Robinhood, you can rely on your order being executed precisely. What you can’t count on is high-quality execution. In a fast-moving market, that means your order might not be first in line. The downside to this is that you could miss out on price improvement.

Depending on how an order is routed, some investors may get a higher price for sales and a lower price for purchases than expected.

Analysts have determined that Robinhood clients don’t tend to enjoy as much price improvement as investors with other firms. It’s a minor issue when you aren’t trading large quantities, but as you invest more of your money, you could be missing out.

Open a Robinhood Account

The article Can I Trade Options on Robinhood? was originally posted on Investormint

Unfortunately, not all trading platforms have features that make it easy for users to invest in options.

No matter how much experience you have with options, one of the trading platforms listed below will help you make the most of every opportunity.

Cheapest Trading Platform for Options: Robinhood

Robinhood gives options traders an opportunity to buy and sell without paying any fees. You read that right. You can use Robinhood for free.

Even though Robinhood doesn’t charge any commissions, you get great features like:

• Real-time notifications
• A web-based platform
• A mobile app for buying and selling

The platform also has a clean, simple design that makes it easy for beginners to understand their investment options.

If you’re a professional options trader, Robinhood probably won’t impress you. Free sounds great until you realize that you don’t have access to the nearly unlimited features that you find on platforms like tastyworks. As a professional, you want a more robust platform.

Beginners, however, will learn a lot from Robinhood without risking more money than they want to invest.

ROBINHOOD
InvestorMint Rating 1 2 3 4 5 4 out of 5 stars	Stock, ETF, Crypto Commissions: $0 Account Minimum: $0 Robinhood Gold: Tiered monthly fees Get Started

Best Trading Platform for Options Experts: tastyworks

Options experts need access to a lot of information and tools that let them execute trades quickly. tastyworks excels in these two areas more than perhaps any other platform.

The tastyworks platform gives you the latest information to help you make smart trades. You get much more than a rolling ticker of stock prices. tastyworks features live and on-demand broadcasts from their experts. Only members have access to the analyses and discussions on tastyworks.

Surprisingly, you don’t have to spend a lot of money on tastyworks. The precise amount that you pay depends on what you want to do. You can open a stick option for just $1. You can open a trade for options on futures for just $2.50 per contract. You don’t pay any commissions when you close the trade (however clearing fees still apply).

tastyworks has a price breakdown on its website that makes it easy for you to compare it with other platforms. Obviously, tastyworks isn’t free like Robinhood, but it still gives you very low commissions compared to other platforms.

Plus it has a social trading feature, live streaming broadcasts throughout the day from professional traders, and cutting-edge tools you won’t find elsewhere.

tastytrade SPOTLIGHT
Investormint Rating 1 2 3 4 5 4.5 out of 5 stars	Commissions: Closing trades for Stocks & ETFs and Options are commission-free Account Balance Minimum: $0 Commissions: $0 flat rate for stocks Get Started via tastytrade secure site

Best Trading Platform for Options Beginners: Ally

Options beginners need a low-cost, simple way to learn about investing.

When you start an Ally account, you get 90 days of commission-free trades. During that time, you can learn about the platform, improve your options skills, and make mistakes without losing a lot of money. You can even earn up to $3,500 in bonus cash by funding your account.

Once your free trial ends after 90 days, you either enter the standard or select program. Select pricing applies to people that maintain a $100,000 average daily balance or execute at least 30 trades every 3 months. If you fall into that category, you pay $0.50 per contract and $3.95 per trade.

If you don’t meet those qualifications, then you will pay $0.65 per option contract and $4.95 per trade. You pay more, but you don’t have to maintain a minimum account balance or execute a minimum number of trades per month.

In return for joining Ally, you get access to the live trading platform and mobile app. You can also view streaming charts that help you understand your investment opportunities.

The company will also give you market stats, news updates, and metrics that make could make your investments more successful.

Best Online Trading Platforms for Options

No matter how long you have been trading options, one of the platforms listed above will match your needs.

If you’re a beginner, Ally will get you started without a large financial commitment.

If you want to spend as little as possible, then you won’t find an option better than Robinhood.

For professionals that aren’t afraid to pay a little more for the best features, tastyworks is the right choice.

If you’re a typical investor that wants a sophisticated platform that doesn’t throw too much information or fees at you, then try tastyworks

Eventually, you may decide that you want to try another platform. For now, start with the one that matches your needs best.

• InvestorMint Rating

  • 1
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• Standout Feature
  Closing trades for Stocks & ETFs and Options are commission-free
• Commissions
  $0 flat rate for stocks
• Account Balance Minimum
  $0
• Get Started

The article Best Online Trading Platforms for Options was originally posted on Investormint

Both services provide their clients with wide-ranging access to capital markets as well as research instruments, sophisticated ordering tools and relatively low costs on a per-trade basis.

But which is better? We compare TradeStation vs Interactive Brokers to help you decide.

TradeStation Quickview

TradeStation has more than three decades of experience catering to brokers, hedge funds and other similar financial practices.

It was introduced online as a serious investment platform almost exclusively for financial professionals.

Since it began, the brand has sought to cast a wider net, and it has even cut account minimums in order to make its services more attractive to the common investor.

Interactive Brokers At A Glance

Interactive Brokers is a market leader that provides clients access to more than 120 market centers.

The company was founded 40 years ago, and its core clientele is comprised of individuals and organizations that trade professionally.

Nevertheless, Interactive Brokers attracts non-professionals who are active or aspiring due to low barriers to entry, including account minimums and per-trade fees.

Interactive Brokers vs
TradeStation Features

Both TradeStation and Interactive Brokers offer stock trading, options trading and futures trading.

One way in which these two companies diverge significantly is that Interactive Brokers is recognized as a leader in international trading whereas TradeStation focuses exclusively on domestic capital markets.

Interactive Brokers offers a web-based platform, desktop software for both Windows and Mac and mobile trading for both iOS and Android.

TradeStation does not support Mac operating systems, but its other platforms are otherwise very similar.

Interactive Brokers offers excellent research tools while TradeStation is generally regarded as lacking in this area. Both excel in regard to charting indicators.

TradeStation distinguishes itself with custom studies. You can even create (via programming) your own indicators from square one and have those represented visually in charts.

INTERACTIVE BROKERS SPOTLIGHT

InvestorMint Rating 1 2 3 4 5 4 out of 5 stars

Promo: Interactive Brokers does not typically provide promotional offers within the US, though clients under 25 are not subject to inactivity fees if monthly commissions are equal to at least US $3 Account Balance Minimum: $10,000 (at the end of month 8, total commissions are subtracted from the $10,000 deposit to reach the required commission minimum) Stock Commissions: $1 Minimum & $0.005 per share Options Commissions: $0.70 per contract with no minimums Get Started

Fee Comparison

Interactive Brokers doesn’t charge a flat trade fee; they charge a per-stock fee instead.

TradeStation, on the other hand, opts for a flat fee. However, TradeStation does offer more flexibility when it comes to commissions and fees, and it allows investors to choose from a number of options beyond the default type.

Stock Traders

TradeStation charges a flat $5 fee for all stock trades. If direct market access is required, then there is a $0.004 per-share surcharge.

If you prefer per-share pricing, TradeStation offers $0.01 per share for the first 500 shares and $0.006 for all subsequent shares. There is a $1 minimum per order.

TradeStation also offers unbundled pricing.

The base rate is dictated by the number of trades completed in the previous month. The rate starts at $0.01 per share with a $1 minimum when trading fewer than 100,000 shares in a month, and this price can fall as low as $0.002 with a $0.50 minimum at 5 million shares.

Options Traders & Mutual Fund Investors

If you are looking for options, TradeStation customers can choose flat-fee or per-contract pricing. The flat fee is $5 plus $0.50 per contract.

There is an additional $0.50 per-contract fee for index options as well as an additional charge of $0.50 per contract if direct routing is required.

With TradeStation, all mutual funds cost $14.95 per trade, and there may be other fees depending on the fund.

Interactive Brokers charges a per-share rate without the option of a flat fee. That rate is $0.005 per share. There is a $1 minimum per share, and a maximum commission of 0.5% of trade value.

This platform also offers a tiered structure for investors who want more control over exchange costs and rebates. At less than 300,000 shares traded per month, pricing starts at $0.0035 per share, and when trading more than 100 million shares per month, it can fall to as low as $0.0005 per share.

Trades through Interactive Brokers use a tiered pricing structure as well.

For investors who trade fewer than 10,000 shares per month and use the default routing system, the per-contract price is $0.70, $0.50 or $0.25 depending on the contract price. There is always a $1 minimum and never a maximum.

With Interactive Brokers, each mutual fund trade costs $14.95, and the minimum initial purchase is $3,000.

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Platform Comparisons

TradeStation vs Interactive Brokers

Both Interactive Brokers and TradeStation offer virtual trading.

Interactive Brokers offers a debit card whereas TradeStation does not. Neither one offers online banking services, such as checking, savings and credit cards.

For mobile trading, both feature an Android app suitable for smartphones and tablets as well as an iOS app that is compatible with the iPhone and the iPad. Interactive Brokers can also be used on the Apple Watch.

Interactive Brokers distinguishes itself with Probability Lab, which assists investors in deciphering markets and assessing risks.

TradeStation differentiates itself not only with its analytical tools but also with back-testing software that includes a C-like language called EasyLanguage.

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Investment Securities Comparison

In terms of the investment securities offered, TradeStation and Interactive Brokers are similar. Interactive Brokers does tend to offer more options overall when it comes to stocks, mutual funds and so on.

Both TradeStation and Interactive Brokers offer both regular stocks and penny stocks.

The biggest difference is that Interactive Brokers provides access to the international stock markets whereas TradeStation is limited to foreign companies that have a listing in the United States.

Interactive Brokers and TradeStation both offer options trading. Investors interested in complex or multi-leg options strategies should note that TradeStation only supports four individual legs while Interactive Brokers supports eight individual legs.

Clients of Interactive Brokers have access to more than 10,000 mutual funds. TradeStation offers about half that number at just under than 5,000 funds.

In addition, Interactive Brokers offers more than 8,700 no-load mutual funds whereas TradeStation offers just more than 1,000.

TradeStation does not currently offer any commission-free ETFs. Interactive Brokers currently offers 45 ETFs that trade without a commission.

Both TradeStation and Interactive Brokers offer exchange-traded funds, or ETFs.

ETFs are often simple, low-cost alternatives to mutual funds. Interactive Brokers does have a larger selection due to providing European ETFs, and it offers an ETF screener that TradeStation does not.

The screener allows investors to pare down ETF options based on many criteria, including:

• Attributes
• Asset class
• Structure
• Risk metrics
• Popular themes

Both TradeStation and Interactive Brokers offer treasury, municipal and corporate bonds as well as other fixed-income products, such as corporate debt and government bills.

Interactive Brokers distinguishes itself with a bond screener that lets you filter bonds based on selective criteria.

Neither Interactive Brokers nor TradeStation offers forex trading directly. You can trade forex through the IB Trader Workstation, but this is facilitated via third parties.

Investors seeking leveraged forex trades will need to have assets worth $10 million or more.

Investment Minimums

Interactive Brokers does not require any deposit or account minimum at all, but there are inactivity fees.

TradeStation formerly enforced a $5,000 minimum but has since lowered the initial deposit to $500.

For individual investors, Interactive Brokers does not require a minimum deposit.

In order to avoid account maintenance fees, you must generate $10 in commission in a given calendar month or have greater than $100,000 in average equity associated with your account in a given calendar month.

If you fail to meet these requirements, then the broker will charge a fee for that month, which will be $10 minus whatever commission you did generate. These requirements are waived for the first three months of your membership.

The minimum deposit when you open a TradeStation account is $500. The minimum account for options trading and futures trading is $2,000 and $5,000, respectively.

You must also meet a certain level of activity each month or be charged $59.95 by TradeStation. This fee can be higher depending on which additional services you activate for your account.

The milestone required each month in order to avoid the base fee as well as some additional fees is:

• $100,000 account balance; or
• 5,000 shares traded; or
• 50 options contracts traded; or
• 10 futures options contracts traded

Open TradeStation Account >>

Account Types

Both TradeStation and Interactive Brokers offer a number of different account options, and you can generally adjust your account as needed after you have opened it.

Neither offers banking accounts or services, so there is no FDIC protection. However, there is insurance for the first $500,000 through the SIPC as well as additional protections afforded through insurance from Lloyd’s of London.

TradeStation offers five primary account types:

• Individual
• Joint
• IRA
• Entity
• Custodial

Interactive Brokers offers five primary account types:

• Individual
• Joint
• Trust
• IRA
• UGMA/UTMA

Customer Support Comparison

Be mindful that both Interactive Brokers and TradeStation cater to advanced and active traders, so there is no hand-holding for clients.

Support from Interactive Brokers is available 24 hours Monday through Friday, but it shifts to its overseas markets at night.

In addition to phone support, email and chat are available. Support offerings from TradeStation are similar but run from Sunday through Friday.

Open TradeStation Account >>

Mobile App Comparison

The app for Interactive Brokers is generally considered one of the best in the industry. It provides a streamlined and tailored experience for smaller screens but still manages to expose most features.

One frustrating aspect is that you cannot have the mobile and desktop versions active at the same time.

TradeStation takes a different approach and essentially seeks to deliver its desktop experience on smartphones and tablets.

This can make the site seem a bit cramped and difficult to navigate, but it is also quite powerful and robust for investors who are comfortable with the layout.

Overall Winner:
Which Broker Is Best For You?

Interactive Brokers offers wider market access, and costs are generally lower for the average trader.

TradeStation, however, is superior in terms of its analytical tools, and investors who employ automatic strategies will enjoy a number of different technologies that make such endeavors easier and more productive.

Many hardcore traders consider TradeStation to be the gold standard. If you code automatic strategies, TradeStation is an excellent choice.

Interactive Brokers is attractive in terms of cost. It is well-suited to active traders but is also a platform you can grow with. What it lacks in analytics can be compensated for with web and desktop tools.

Open TradeStation Account >>

The article TradeStation vs Interactive Brokers Comparison was originally posted on Investormint

The trend towards ever lower commissions costs has finally reached the holy grail level for traders: free stock trading. Some brokers also support no-commission ETF trading and mutual fund investing, so whether you are an active stock trader or a passive mutual fund or ETF investor, you can find a low cost or no-cost way to enter the stock market.

Best Broker For Free Stock Trading & Free ETF Investing

The Robinhood app supports free stock trading and free ETF investing. Setup is easy. Transferring funds is fast. And trading is simple due to the highly navigable interface. However, mutual fund investing, options trading, futures trading and Forex trading is not supported on the Robinhood app. Schwab also offers a low-cost way to invest by providing over 200 commission-free ETFs. Another top-rated broker, E-Trade has over 100 zero-commission exchange-traded funds available.

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  Stocks, ETFs, Crypto: $0
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  Stocks: $6.95 per trade
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  $1,000
• Open an Account

ROBINHOOD APP – FREE STOCK TRADING & FREE ETF TRADING

Robinhood is one of the most popular free stock trading apps and has been for quite some time, having surpassed the billion-dollar valuation mark back in 2017. Here are some of the reasons we think it’s one of the best apps out there for those who are interested in free stock trading.

Free With Optional Upgrade

Unlike many apps, Robinhood doesn’t limit your ability to trade while on a free plan. You can buy and sell to your heart’s content using the Robinhood app.

The only difference is that you can’t buy on margin unless you upgrade to Robinhood Gold. However, using margin successfully is an advanced trading concept best left to those who have been making money on investments for some time, so you don’t miss anything significant if you choose not to upgrade.

In fact, the free app allows you to get your feet wet without spending significant money so that you can learn as you go and then upgrade if and when you’re ready.

Easy To Set Up

One of the perks of the Robinhood app is that it is simple to set up your account.

You can do it in a matter of minutes simply by downloading and opening the app.

No Account Minimums

Many trading apps require you to have a minimum account balance, making it difficult to get started if you don’t have a lot of cash set aside for investing.

Robinhood doesn’t have this requirement. You can open an account with any balance (or no balance at all, if you’d like to set up the account now and use it later when you’ve got the cash).

In addition, up to $2,000 of your balance is available immediately upon set-up, allowing you to start trading right away.

A Few Limitations

This service is only available on mobile devices. If you have a Chromebook computer that runs Android apps, you can get around this; otherwise, there is no way to use Robinhood from a desktop.

Robinhood only allows you to trade in taxable accounts, so if you’re interested in mutual funds, futures, or forex, this service is not for you.

But for the beginning trader who is content to trade stocks from his or her smartphone, Robinhood provides you with everything you need at zero cost.

SCHWAB – FREE ETF TRADING

Founder of the Vanguard Group and business magnate, Jack Bogle, pioneered low cost index investing and Schwab has made it easy to buy these funds by providing over 200 no-commission exchange-traded funds. Historically, commissions costs were applied to investors wishing to buy and sell ETFs.

The low cost of investing in exchange traded funds is possible because they are passively managed. Unlike mutual funds which are actively managed and have higher expense ratios, ETFs can save you a lot in fees as time goes by.

Over time, the cost of expense ratios can make a big difference to your net worth. Pay just 0.5% more each year on a $100,000 portfolio growing at an average rate of 8% annually and thirty years later your net worth could lower by as much as $300,000!

Schwab imposes a slightly higher account minimum of $1,000 compared to Robinhood but compared to most brokers it’s a low threshold.

If a wide selection of commission-free ETFs is less important to you than the account minimum, E-Trade, which has a lower minimum (compared to Schwab) of $500 may be a better choice for you. Plus, they still they offer over 100 no-commission ETFs.

Best Brokers For No-Transaction Fee Mutual Fund Investing

Fidelity offers an extensive range of no-transaction fee mutual funds. Even if you do purchase a no-transaction fee mutual fund, expense ratios still apply so unlike free stock trading, mutual fund investing may be commission-free but a cost still applies to hold the fund (whereas no cost applies to holding a stock).

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  $2,500 brokerage; $0 IRA
• Open an Account

FIDELITY – NO-TRANSACTION FEE MUTUAL FUND INVESTING

Fidelity is best known as a retirement plan administrator that oversees over $2 Trillion in client assets. But Fidelity also offers a full-service brokerage platform that features an extensive range of no-transaction fee (NTF) mutual funds.

Almost 4,000 NTF funds are available at Fidelity, making them one of the largest providers of NTF mutual funds in the industry.

Best Robo-Advisors For Free Passive Investing

WiseBanyan and Schwab Intelligent Portfolios offer truly free portfolio management to passive investors who prefer an automated investing solution that is technology-powered over a self-directed portfolio management approach.

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WISEBANYAN – FREE PASSIVE INVESTING

WiseBanyan is a truly free automated portfolio management solution for the passive investor. It claims to be the world’s first free financial advisor and delivers by charging no trading fees, no management fees, no custodial fees, no hidden fees and receiving no kickbacks from mutual funds or ETF funds.

The robo-advisor does charge 0.25% of managed assets for clients who wish to choose its tax-loss harvesting service, which is fully optional.

SCHWAB INTELLIGENT PORTFOLIOS – FREE PASSIVE INVESTING

Schwab Intelligent Portfolios was the first robo-advisor to accumulate over $10 billion in client assets and its zero management fee is a big reason why it has enjoyed such popularity.

The way Schwab Intelligent Portfolios makes money is from the expense ratios of funds used in portfolios. Schwab includes in client portfolios many of its own funds, which it earns revenues on. As a result, it can offer portfolio management at no cost, a benefit few robo-advisor can offer.

Schwab is also highly attractive to passive investors looking for an automated portfolio management solution because it offers the most extensive range of asset classes of any robo-advisor: approximately 20 asset classes and over 50 exchange-traded funds.

On-the-go investors who want to link in with their portfolios via mobile devices can do so easily with Schwab, which offers one of the best mobile trading apps in the industry.

Passive investors who value a tax-optimized portfolio should consider other robo-advisors, such as Wealthfront, but should note that portfolio management is fee-based above certain threshold levels at most robo-advisors.

>> Discover The Best Robo-Advisors For Fees

>> View The Best Penny Stock Brokers

>> Learn How To Lower Your Tax Bill

The article Best Online Brokers For Free Stock Trading 2020 was originally posted on Investormint

What is Stockpile? Stockpile is a discount brokerage firm that charges just $0.99 per trade. More than a standard trading platform that allows you to buy and sell shares for your own account, Stockpile also makes it possible to give gifts of stock.

In this Stockpile review, you will discover that it’s as easy to give stock gifts as it is to buy Starbucks gift cards – but gifts of stock will probably last longer!

Just as you would buy a gift card that can be redeemed for coffee at Starbucks, so too can gift card recipients redeem Stockpile gift cards for shares of publicly traded company like Facebook and Amazon.

Stockpile stock gift cards are available for purchase online as well as offline in retailers like Safeway and Target.

Stockpile Reviews Spotlight

Stockpile Fees & Facts

How Does Stockpile Work?

Stockpile is essentially two businesses under one umbrella: a regular brokerage business and a stock gifting service. In this Stockpile review we’ll concentrate mostly on how gifting stocks works.

How To Buy Stockpile Gift Cards

First, pick a stock you would like to give as a gift. The range of Stockpile stocks is as broad as you might expect on any other brokerage platform so you will be spoiled for choice.

Big name companies like Amazon, Google, and Facebook all feature on the platform, as well as thousands of less well known companies.

Exchange-traded funds that mirror the performance of an index, like the S&P 500, can also be given as gifts.

After you select a company on the online dashboard, a price chart of your stock will pop up.

Next, click the “Pick Stock” button.

We use Netflix stock to highlight how it works below.

You will then be invited to choose the gift amount, ranging from $25 to $100 – or you can enter another amount.

You are not restricted to giving a single stock gift. After selecting one stock, you can pick many others too.

Once you’ve made your picks, simply enter the recipient’s email address as well as your own.

Finally, checkout with your credit card, debit card, or Paypal account and “voila”, you just gave someone the gift of stock!

How To Redeem Stockpile Gift Cards

Recipients can redeem stock gifts as easily as they might redeem a gift card at a retail store.

Each Stockpile stock gift comes with a unique code.

By clicking the “Redeem” button from the Stockpile.com home page, the recipient can simply follow a few steps to set up a brokerage account where their stock gifts are waiting for them.

Stockpile FAQ: Who pays for the gift card?

In order for recipients to receive the full value of stock gifts, buyers pay the fees regardless of whether an electronic gift card or physical gift card is bought.

How Much Are Stockpile Fees?

Stockpile fees vary depending on whether you are buying stock as a gift for someone else or for yourself.

The cheapest way to buy stock is for yourself in a brokerage account.

If you purchase an e-gift card for someone else, it will cost a bit more. The most expensive gift card to purchase for someone is a physical gift card.

Stockpile Commission Costs

To buy or sell stock in your own Stockpile brokerage account, a transaction fee of $0.99 is charged regardless of whether you buy whole shares or fractional shares.

A $0.99 fee applies when selling stock also.

Fractional shares are a good option when you don’t have enough money to buy a single share of stock but you also don’t want your cash sitting idle in your account earning no money.

Some stocks like Google and Amazon trade north of $1,000 per share so Stockpile makes them more affordable by allowing traders to purchase fractions of a share.

Fractional Shares Example

Share Price: $1,000

Amount Available To Invest: $50

Because it costs $100 to buy a single share but only $50 is available to trade, a fractional share can be purchased.

The fee to purchase the fractional share is $0.99 so the total cost would be $50.99

How Much Does It Cost To Buy Using A Credit Card?

Stocks can be bought using credit cards too but the costs will factor in credit card processing fees of 3% in addition to the usual $0.99 charge.

So, if you want to buy $50 worth of stock, it will cost you $50 + $0.99 + $1.50 for a total of $52.49.

How Much Do Physical Gift Cards Cost?

As you might expect, it is more expensive for Stockpile to print out gift cards than to sell online gift cards, so physical gift cards bought in retail stores cost more.

Cost to buy a physical gift card: $2.99 plus a 3% credit or debit card fee.

For every additional stock bought, the cost drops to just $0.99 per stock but credit and/or debit card fees still apply.

How Much Does Stockpile Charge?

To calculate how much Stockpile charges, we’ll use a “real-life” example.

Imagine your nephew loves athletic gear so you decide to buy him the gift of $100 of Nike stock that will probably hold its value much longer than buying him a $100 pair of Nike sneakers.

How much will it cost to buy Nike stock gift card?

$100 + $2.99 + $3 (credit card/debit card fee) = $105.99

Now, imagine you also give him the gift of $25 worth of Under Armor stock, the cost will be:

$25 + $0.99 + $0.75 (credit card / debit card fee) = $26.74

But what happens if your nephew has a sister, and you want to buy stock for her too?

No problem.

When you add more recipients to the same order, each stock you give them incurs a cost of $0.99 plus 3%.

So, if you give your niece $100 worth of Facebook stock, you would pay:

$100 + $0.99 + $3.00 = $103.99

Give The Gift Of Stock

Cost To Buy Stockpile Gift Cards At Retail Stores

If you want to give a physical gift card, it will cost you a bit more than an e-gift will set you back.

Physical Gift Card Cost: $4.95 to $7.95

These charges cover the costs of credit card and debit card fees, trading commissions, and the cost to make the physical gift card.

As the buyer, you pay these costs so that the recipient can redeem the full value of their stock gift.

Stockpile Gift Card Review: Pros and Cons

Stockpile has low transaction costs to buy and sell stock for an individual account, no minimum balance requirements nor ongoing maintenance fees, and caters to physical and electronic gift cards of stock. However, the cost to give a physical gift card is steep and, unlike other brokerage firms, a limited range of securities and account types is supported.

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Stockpile Securities & Account Types

Stockpile makes it easy to buy stocks and exchange-traded funds, but you should look elsewhere, such as thinkorswim or tastyworks, to buy options, futures, or forex.

Stockpile is a brokerage firm without bells and whistles. If you want to open a standard, taxable brokerage account to buy stocks and ETFs, Stockpile can do that for you. You can also set up a custodial account for a child.

However, buying more complex securities, such as options and futures, or doing so in an IRA, Trust, or Partnership account is not possible.

Although the platform options are limited to buy more exotic securities, Stockpile is a specialist in gift cards for stocks, and while it may not earn top marks as a brokerage firm overall, it wins 5-stars for its specialty area.

Stockpile Platform Features

Stockpile Review Summary

Stockpile is unique among stock trading platforms in that it offers stock gifts cards. This service allows you to purchase gift cards worth $25 or more so that your recipient can buy stocks.

There’s also a ton of educational information on Stockpile’s site to help gift card recipients understand the fundamentals of investing before they redeem their gift cards.

Stockpile Makes It Easy To Give The Gift of Stock

Stockpile was founded in order to make it easier for people to buy stocks as gifts. Instead of having to buy actual shares of stock, you just buy a gift card and your recipient can use it to buy the stocks of their choice!

This is easier for you and easier for them, as you don’t have to buy the stocks yourself or transfer them to your intended recipient and they don’t have to worry about whether they approve of the company you’ve chosen to invest in on their behalf.

Great Gift For Kids

Stockpile’s founder came up with the idea when he was thinking about a way to give kids the gift of stock. The Stockpile gift cards program makes it easy to do this.

All you have to do is buy the gift card and give it to the child. Just make sure your recipient’s parents are on board first, as they will have to open a custodial brokerage account in order to redeem the gift card.

E-Gifts and Printed Gift Cards Both Available

E-gifts are convenient. You just have to put in the recipient’s email address and then he or she can sign up online at Stockpile to redeem the card.

But if your recipient doesn’t have an email account or doesn’t trust online services, you can also purchase a printed gift card.

Stockpile charges a printing fee if you opt to get a physical card, making e-cards slightly less expensive.

Low Cost

Stockpile is one of the lowest-cost trading platforms around.

When you purchase a gift card, you pay a fee of $2.99 for the first stock and .99 for each additional stock, and your recipient will pay only .99 each time he or she sells a stock at Stockpile.

There are no annual fees for opening or maintaining a brokerage account at Stockpile and trading fees are super low, making it easy to trade using this platform.

The Bottom Line

As a broker, Stockpile is meant for investors who are content to buy stocks and exchange-traded funds.

For hardcore traders who want feature-rich chart studies, research, tools, simulators, virtual trading platforms, options, futures, and forex, it is best to look elsewhere such as tastyworks or thinkorswim.

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Behind The Scenes: The Stockpile Story

When Stockpile founder Avi Lele had the idea to give his nieces and nephews the gift of stock over the holiday season, he found the prices of two stocks he wanted to give, Apple and Google, were too pricey – a single share cost hundreds of dollars.

Plus, it was such a hassle to figure out how to buy stocks for kids because you needed to set up a brokerage account for them and you needed to know their social security numbers.

Avi simply gave up and bought toys for his nieces and nephews.

But he never gave up on the idea that buying stocks for loved ones should be easy, whether grandparents buying stock for grandchildren or parents giving kids the gift of stock as stocking stuffers to learn the value of investing for the long-term.

Open a Stockpile Account

The article Stockpile Review 2020 – The Low Cost Trading Platform was originally posted on Investormint

If you are looking for the cheapest stocks on Robinhood penny stocks are an obvious place to being your search.

But it won’t take long before you discover that the best stocks under $1 are not necessarily the best places to invest your hard-earned money.

While it’s tempting to buy marijuana stocks that are low-priced or scan a list of blockchain stocks under $1 in the hopes of a big payday, the odds are against you hitting bingo.

But that doesn’t mean you can’t find true penny stocks worth buying on Robinhood. Here’s why…

Best Robinhood Penny Stocks

Even though most traders think of penny stocks as companies whose prices trade under $1 per share, the SEC defines a company whose share price is trading under $5 as a penny stock.

Using that definition, Robinhood penny stocks are plentiful. For example, daily deals site, Groupon [GRPN], is counted among the numerous penny stocks available to trade.

Plug Power Inc [PLUG] is another highly rated stock. Although less well known to consumers, Plug Power is an alternative energy technology provider that has an enviable customer list, including Amazon.

Analyst expectations are high for Plug. Most rate the company a Buy and forecast large revenue increases over the next year.

UTStarcom Holdings [UTSI] is counted among the top penny stocks on Robinhood too. Though not a household name, UTStarcom develops technology for cloud-based services, mobile, and streaming, as well as WiFi products and optical fiber.

Robinhood Penny Stocks Under $1

Although it’s possible to find stocks under $5 on Robinhood, which technically according to the SEC are categorized as penny stocks, finding stocks under $1 is likely to leave you disappointed.

Investors who trade penny stocks usually find them on the Over-The-Counter market, or OTC, which is commonly called the Pink Sheets.

The over-the-counter market is not actually an exchange. Trading takes place between buyers and sellers with no exchange oversight.

Often, stocks trading on the OTC market are good early-stage companies. Solid companies with tens of millions of dollars in revenues but that do not qualify for a public IPO listing on the NYSE or NASDAQ market may decide to raise money by going public on the over-the-counter market.

Equally, companies trading on the OTC market could be low quality companies that have been delisted from the NYSE or NASDAQ exchanges.

The challenge for investors is picking the good companies from the bad ones. And here’s where the plot thickens!

ROBINHOOD
InvestorMint Rating 1 2 3 4 5 4 out of 5 stars	Stock, ETF, Crypto Commissions: $0 Account Minimum: $0 Robinhood Gold: Tiered monthly fees Get Started

No matter how hard you look, you won’t find a list of Robinhood penny stocks trading on the OTC market.

Generally, stocks trading under $1 on the pink sheets are considered speculative and Robinhood avoids them.

So, if you’re looking for a Robinhood penny stocks list, you’re stuck with companies trading on the NASDAQ or NYSE.

When you find NYSE stocks under $1 or NASDAQ stocks under $1 on Robinhood you can bet your bottom dollar they won’t be there for long because both exchanges delist low-priced stocks within about a month usually.

That means the best penny stocks to watch on Robinhood are stocks under $5 but over $1.

How To Trade
Penny Stocks Under $1

An alternative to trading penny stocks on Robinhood is to find a broker that supports the pink sheets.

Even top options brokers like tastyworks who you might intuitively guess support stocks under $1 come up short.

Finding a list of penny stocks on thinkorswim is a breeze.

A thinkorswim penny stock screener is all you need to quickly scan and find stocks under $1.

As one of the best trading platforms, thinkorswim can perform just about any screen or scan you might fathom.

Heck, you can even use thinkScript, an embedded programming language, to create your own technical studies if you wish!

Best Types Of
Penny Stocks To Trade

Some investors shy away from penny stocks because they are riskier investments. It’s hard to tell if a penny stock will truly explode, yielding high profits, or if you will lose your money.

But the returns on these stocks make them alluring, and if you know what you’re doing, you could enjoy some big wins. Before risking a single penny, here is a list of qualities to look for when considering penny stocks to trade.

Penny Stocks That Have Strong Fundamentals

Strong fundamentals are one of the best indicators of a stock that will do well over time.

When considering penny stocks to invest in, you want to look closely at their fundamentals. Penny stocks with a positive assets-to-liabilities ratio, positive cash flow, and that are making a profit may be good bets.

Don’t forget to look at qualitative aspects of the company’s annual report too; statements about performance and plans and predictions for the future can help you gauge a company’s health before you invest.

Penny Stocks With Big Upsides

A penny stock that takes off and generates large profits could be a good investment bet.

Penny stocks with big upsides offer lots of potential but it can be hard to predict whether a penny stock is going to explode higher, so factor in the risk of the rocket ship exploding too before you invest.

As long as you do your due diligence ahead of time and follow the stock market closely, you can get a better idea of which stocks are likely to burst higher and get in on them while they are at rock-bottom prices.

Penny Stocks With Charts Showing Positive Technical Trends

Always look at any prospective penny stock’s chart to help you evaluate its potential performance.

Positive technical trends show that a stock is on the upswing and may continue upwards for some time, making the stock likely to yield significant returns on your investment.

Companies With High Potential

Some companies are hot commodities because of the type of company they are. Tech companies, for example, can be explosive, so if there’s one trading at low prices, it may be worth exploring further.

In addition, pay attention to trends in the news. For example, legalization of marijuana in several states has led to the opening of new cannabis-based businesses that could attract significant investor attention.

Penny Stocks For Dummies

If it’s your first time trading low-priced stocks, create a checklist so you don’t fall victim to common penny stock scams.

Although regulators have cracked down on the pump-and-dump merchants who tout cheap stocks in the hopes of cashing in as they rocket higher only to quickly crash back to earth, it’s best to keep your wits about you.

If you hear about a new drug therapy that could cure cancer, call the Investor Relations department of the company and ask for more information.

Make your investment decisions calmly to avoid buying on emotion.

>> Read this primer on behavioral finance biases and how they affect investment decision-making if you’re a stock market beginner.

And be wary of any free stocks tips that friends share with you. It’s one of the common trading pitfalls and often a costly one.

Robinhood
Penny Stocks Summary

If you’re looking for a list of Robinhood penny stocks to trade that are the next high fliers, you might be in for some disappointment.

While the SEC defines stocks under $5 as penny stocks, and many stocks on the free Robinhood app fall into this category, traders looking for the cheapest stocks under $1 will be disappointed.

The company that made free stock trading famous does not support over-the-counter stocks.

Screen for fundamentally strong penny stocks or ones with good odds of powering higher through game-changing technology or innovative medicines.

No matter which path you choose, steer clear of the common penny stock trading mistakes like buying because a friend told you so or picking stocks that have very low trading volumes.

Trade with $0 Commissions

The article Robinhood Penny Stocks – $0 Commissions! was originally posted on Investormint

Peer-to-peer platforms have cropped up in various industries over the past decade, and refer to online websites that match supply with demand. For example, Prosper is a peer-to-peer lending platform that matches lenders and investors who are willing to loan them money. But what is a peer-to-peer trading platform?

The idea is so revolutionary in the world of stock market trading that it takes a few moments to get your head around it. In a nutshell, it refers to matching buyers and sellers of a particular stock without relying on a stockbroker.

Usually when you purchase a stock like Amazon via a broker, such as tastyworks, the broker facilitates the trade. But what you may not have known is your order may be sold to a middleman who takes a cut, causing you to pay higher transaction fees. If only there were a way to match orders directly between buyers and sellers?

Well now there is a way and it is referred to as an Alternative Trading System (ATS), a regulatory term for a non-exchange trading venue that matches buyers and sellers to find counterparties for transactions. And Ustocktrade is one of the leading ATS systems available to traders with transaction costs amounting to just $1 per trade.

But what else do you need to know about Ustocktrade before deciding whether it is right for you?

Ustocktrade Spotlight

Why Trade On A Peer-To-Peer Platform?

Ustocktrade directly matches the orders of buyers and sellers to create a low-cost way to acquire and dispose of stock, exchange-traded funds, and exchange-traded notes.

A peer-to-peer platform has a clear benefit versus most brokerage firms. When you place an order via a typical broker, your order is routed to an exchange where various middlemen take a cut, resulting in higher transaction costs over time. However, a peer-to-peer trading platform directly matches buy and sell orders.

If you want to purchase shares of Facebook and another member on the platform wishes to sell their Facebook shares, Ustocktrade will match you both and save you the costs that you would otherwise be forced to pay at a traditional brokerage firm.

Peer-to-peer trading platforms aren’t some fly-by-night, cockamamie, half-baked idea that some enterprising entrepreneur conjured up. They are regulated by the SEC and officially labeled as Alternative Trading Systems. Ustocktrade complies with regulatory requirements and is fully regulated by the SEC too.

One big “gotcha” you should be aware of however when using Ustocktrade or any other peer-to-peer trading platform is that liquidity may dry up during periods of volatility.

That’s a fancy way of saying that if the market experiences a big selloff, such as a stock market crash, and you want to sell your stock, you may not be able to find a buyer.

Unlike a standard exchange, such as the NYSE, which is comprised of market makers that are required to provide market liquidity in order to ensure a stable market, meaning you can always buy and sell stock – even if the prices are unfavorable – no such requirement exists for Alternative Trading Systems.

So how does Ustocktrade get around this liquidity problem?

Open a Ustocktrade Account

Ustocktrade Review: Superusers

Superusers fulfill a similar, though not identical, role to market makers in a traditional market.

“Superusers” are the “made-up” label Ustocktrade uses to describe members on its platform who may step in to provide liquidity, similar to a market maker.

However, it is important to note that while Superusers may have the deep pockets to purchase a big chunk of stock that you want to offload, they are not required to create a market or set price like a market maker is obligated to do.

Instead, the Superuser simply steps in, if they wish, to act as the counterparty to complete a trade at the NBBO (National Best Bid & Offer) price.

Is Ustocktrade Right For You?

Beyond low transaction costs, Ustocktrade has a philanthropic mission to support a non-profit, The Cainan Foundation, whose mission is to financially support disadvantaged children.

A big advantage Ustocktrade has over brokers is faster settlement times. When you buy and sell securities with a traditional broker, it may take as many as three days for the transaction to settle in your account. By contrast, Ustocktrade operates on a T+0 settlement time frame, meaning that trade settlements are conducted same day.

Compared to big name brokers, Ustocktrade settlement times and commissions compare very favorably.

Beyond fast settlement times and lower transaction costs, another compelling reason to use Ustocktrade is that its founding purpose is to financially support The Cainan Foundation, a 501(c)(3) nonprofit that builds schools exclusively for disadvantaged children.

Another nice feature of Ustocktrade is its virtual trading platform, called Ustocktrain. It is a free trading simulator chockful of video tutorials to help you build your trading skills using virtual currency so you don’t have to risk a dime.

The visual interface is easy-of-use and the overall user experience deserves an A-grade from start to finish. It’s virtually impossible to get lost whether you are trading real money or virtual capital.

But a drawback is you will need to fund your account in cash and are limited to transfers of $10,000 so the platform caters best to smaller account holders.

Ustocktrade Review: Pros and Cons

Ustocktrade provides a low-cost way of buying and selling shares by directly matching buyers and sellers, thereby cutting out the costs of middlemen.

Ustocktrade Securities

If you wish to trade options, futures, forex, or bonds, you will need to select another trading platform, such as thinkorswim or tastyworks.

Ustocktrade Account Types

Ustocktrade Review: Fees

Ustocktrade charges a monthly fee of $1 in addition to a per trade charge of $1 to buy or sell stocks, ETFs, and ETNs.

Ustocktrade Platform Features

Ustocktrade Summary

Ustocktrade is a peer-to-peer stock trading platform that directly matches the orders of buyers and sellers at lower cost than most traditional brokerage platforms.

You can trade stocks, ETFs, and ETNs on the platform at a cost of just $1 per trade in addition to a monthly cost of $1.

New traders can get started on Ustocktrain, the virtual trading platform offered by Ustocktrade, at no cost to help build trading skills.

Perhaps the biggest concern is the liquidity risk if markets are volatile and a Superuser doesn’t step in to act as a counterparty. It is possible during market selloffs that nobody will take the other side of the trade to purchase your stock.

A bonus offered by Ustocktrade is that it supports a charity designed to educate disadvantaged kids.

Open a Ustocktrade Account

The article Ustocktrade Review 2020 – Low Cost Peer-to-Peer Trading was originally posted on Investormint

Schwab consistently ranks as one of the best online brokers for stock trading. Low commissions, a vast array of securities available to trade, managed services via Intelligent Portfolios, and a broad selection of account types all add to its reputation.

Fidelity is best known for its no-transaction-fee mutual funds but its brokerage firm stands toe to toe with top brokers, including Schwab.

Comparing Schwab vs Fidelity, the question is who comes out on top?

Fidelity vs Schwab

• InvestorMint Rating

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• Standout Feature
  Research & Tools
• Commissions
  $7.95 per trade
• Account Balance Minimum
  $2,500 brokerage; $0 IRA
• Open an Account

• InvestorMint Rating

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• Commissions
  $4.95 per trade
• Avg. Fund-related fees
  0.26%
• Account Minimum
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• Open an Account

On equity commissions rates, Schwab and Fidelity cannot be separated. Both charge flat fees of $4.95.

As you would expect of two top stock brokers, they each provide a full range of services, including the ability to buy and sell options and futures contracts.

For customers with higher account balances, both firms offer personalized customer service and investment advice.

However, they each stand out in different ways so let’s see how they compare on key factors.

Fee Comparison

Fidelity and Schwab have similar fee structures for their discount brokerage arms.

Each permits unlimited equity trades for $4.95 per trade.

The base option rates at each broker is $4.95 as well as a per options contract commissions cost of $0.65.

Schwab currently charges a $76 flat fee to buy mutual funds. However, it also offers free trades in both Schwab OneSource Funds as well as U.S. Treasury Securities.

Fidelity’s fees for mutual fund products range from zero dollars for no-transaction-fee mutual funds to $49.95.

Neither broker charges annual fees on IRA accounts.

Get Started at Fidelity >>

Trading Platform Comparison

Schwab offers two trading platforms, neither of which has fee or trade minimums.

Fidelity offers Active Trader Pro, which is downloadable to desktop or can be used via web interface.

Schwab Trading Platforms

Where Schwab shines brightest is it has a service to match the needs of any investor. Looking for commission-free ETFs or extensive research? Learning to trade for the first time or an old pro? Schwab’s got it all.

StreetSmart (formerly OptionsXpress) and Trade Source are its two trading platforms.

StreetSmart is available via web-based interface or downloadable desktop. For traders on-the-go, a mobile version is available too.

Trade Source is a 100% online platform that features research, technical charts and studies, and real-time pricing.

If you are just getting started as a beginner stock trader, StreetSmart will suffice. For options traders, Street Smart Central has more bells and whistles.

Clients who need a quick and easy trading experience should look to StreetSmart Edge. Selecting symbols, placing trades, viewing balances, and trading history is all a cinch.

Fidelity Trading Platform

You will be spoiled for choice at Fidelity too because downloadable desktop, web-based, and mobile trading platforms are all available.

Active Trader Pro can be accessed online or downloaded.

It’s customizable, so if you use similar options strategies again and again or prefer certain technical chart studies you can store them easily for repeat use.

Experienced investors should check out Wealth-Lab Pro, which features decades worth of data that can be filtered to build custom trading strategies.

Fidelity earns high marks for its highly impressive options trading experience via mobile, a feat few brokers emulate.

Investment Securities Comparison

Both Schwab and Fidelity offer a vast selection of securities in which their clients can easily, cheaply, and instantly invest.

There are some subtle differences in the firms’ offerings, however.

Get Started at Schwab >>

Stocks

Schwab and Fidelity offer the full range of exchange-traded equities. Both companies also have the same flat $4.95 fee for equity trades.

Options

Fidelity and Schwab allow clients to buy any exchange-traded options.

The flat fee for options is currently $4.95 plus $0.65 for each contract at both Schwab and Fidelity.

Mutual Funds

Mutual funds are one area where Fidelity and Schwab substantially differ.

Fidelity currently offers more than 12,500+ mutual funds, which compares favorably to the 5,500+ currently available at Schwab.

Fidelity also offers a number of its own mutual funds to clients, and some of these come with no associated fee, whereas all mutual funds bought through Schwab carry the same $76 fee.

Mutual funds bought via Fidelity incur a maximum fee of $49.95.

Commission-free ETFs

Both offer around 250 (give or take) commission-free exchange-traded funds.

ETFs

Both Schwab and Fidelity enable clients to buy most ETFs.

Bonds

Fidelity and Schwab both offer a wide selection of bonds, including:

• Corporates
• Municipals
• Treasuries

Schwab offers free purchases of U.S. Treasury securities while only Fidelity offers free trades on new-issue bonds.

Forex

Neither Fidelity nor Schwab offers forex trading capabilities to their clients.

>> Related: Best Forex Brokers

Investment Minimums

Fidelity has no minimum deposit amount for its discount brokerage accounts while Schwab imposes a relatively low minimum of $1,000 for its standard accounts.

The Schwab investment minimum can be waived with regular monthly deposits of $100.

Long-term investors will be delighted to know that even Fidelity funds and index funds have no investment minimums anymore.

Better still, the Fidelity ZERO International Index Funds and Fidelity ZERO Total Market Index Fund have no expense ratios, a rarity among mutual funds.

But to access Fidelity promotions, you’ll need to commit a minimum of $50,000 – a tall order for most retail investors.

Get Started at Fidelity >>

Account Types

Even though both Schwab and Fidelity are first and foremost brokerage services, clients who are looking to plan for retirement, save for college, or even form trusts will also find products to suit their needs.

Schwab Account Types

Schwab features an expansive list of account types and services, including:

• Brokerage accounts
• Retirement accounts
• Estate Planning accounts
• Charitable Planning accounts

Schwab also offers a few account types that Fidelity does not offer, including:

• FDIC-insured checking account
• High Yield Savings Account

These options make Schwab a superior choice for those who are looking for seamless integration with its daily banking in a brokerage or other financial account.

Fidelity Account Types

Fidelity offers almost all of the same accounts as Schwab does, except it does not have FDIC-insured checking and currently is not offering high-yield savings.

However, Fidelity does offer certificates of deposit of varying term lengths.

In some circumstances, these options may be even more attractive than a savings account.

>> How To Invest $20k

Schwab vs Fidelity Tax Strategy

Both Schwab and Fidelity feature services to lower the tax impact of clients across account types.

Both also offer government-approved retirement accounts that come with certain tax deferments.

A large part of Fidelity’s overall business involves the servicing of various defined-contribution retirement accounts.

These accounts generally have very low fees when compared to other traditional retirement planning services.

>> 17 Most Important Questions To Ask Your Financial Advisor

Customer Support Comparison

When it comes to customer support, both Fidelity and Charles Schwab rank highly among low-cost brokerage services.

Schwab offers more personalized customer service options as client balances grow and has a large number of personal financial planning services.

These include its Personal Portfolio Review and its portfolio management services, which feature Diversified Management Accounts and Schwab Managed Portfolios.

Customer support is available around the clock by phone and at over 300 brick-and-mortar branches nationwide.

Fidelity Customer Support Review

Fidelity tends to be more focused on keeping prices low for individual traders. As a result, the company offers fewer personalized account management services, but this does not mean that Fidelity does not offer top-flight customer service.

On the contrary, Fidelity also provides 24/7 phone support, as well as live chat and broker-assisted trades.

Fidelity consistently ranks in the top spots for customer service in brokerage industry comparisons.

For value-oriented investors and those who may want additional help in managing their portfolios, Schwab is going to be the slightly better choice with its automated investment management service, Essential Portfolios.

>> Top 5 Investing Lessons

Mobile App Comparison

Schwab and Fidelity both feature mobile apps that can keep clients connected to their investments on-the-go.

iPhone, iPad, and Android devices are all supported, as well as the Apple Watch.

However, Schwab currently does not offer tablet apps for Android.

>> What Is The Best Way To Invest $10,000?

Charles Schwab Or
Fidelity Comparison Summary

Due to its slightly better overall pricing structure and its more robust day-trading platform, Fidelity just about wins the price battle – certainly when it comes to broker-assisted trades and mutual funds.

Buy-and-hold mutual fund investors will fare best at Fidelity, which has a broader selection of funds and is renowned in the industry for its diverse selection.

If you are a stock or options trader you won’t experience much difference, though we give the edge to Schwab following its acquisition of OptionsXpress and integration of its platform into its suite of offerings.

Clients seeking managed services will also fare better at Schwab thanks to its robo-advisor solution, Schwab Intelligent Portfolios.

For those with more complex financial situations, Schwab also has the edge with a broader selection of account types.

Get Started at Schwab >>

FAQ

What Is Schwab?

Founded in 1971, Charles Schwab was the first discount brokerage firm.

And all these years later it remains one of largest brokerage firms in the United States while still honoring its founding principles to provide low commissions trading services.

Charles Schwab also provides a large number of other financial services, including banking, retirement planning, full-service wealth management, as well as automated investment management.

What Is Fidelity?

Fidelity Investments is far older than Schwab and is one of the largest financial services companies in America.

The company was founded in 1946 and is renowned as a mutual fund specialist. Some of the largest mutual funds in the world originate from Fidelity, which manages a large number of its own funds.

The article Charles Schwab vs Fidelity Comparison was originally posted on Investormint

If you’re on the fence between M1 Finance vs Robinhood, this comparison should clear the fog.

Both brokers feature free stock trading so price-sensitive traders won’t be able to separate them on cost.

Where they diverge is on account selection, portfolio management, mobile access, tools, and investment selection.

Let’s dive in to see which is the best broker for you?

Quick Robinhood Review

Launched in 2014, Robinhood is a free mobile and web app that guides clients taking their first steps from the turf of non-investors into the territory of stock trading.

Since its launch, Robinhood has quickly become one of the apps of choice among younger and beginning investors who seek commission-free trades on the go.

Whether stocks, options, or cryptocurrencies are top of your trading list, Robinhood supports them all.

What Is Robinhood Gold?

Once you get your feet wet as in investor, Robinhood Gold offers you a step up to the next level, which is a margin account.

This type of setup allows you to trade on your broker’s dime, meaning you can borrow money from Robinhood to purchase securities as long as you meet a few conditions:

• You must maintain a minimum balance in a maintenance account.
• You must pay a fee for what you borrow.
• You can only borrow 50% more than your account balance.
• You have to maintain a minimum $2,000 balance as required by law.

Some of the advantages of a Robinhood Gold account are expanding your buying capital while continuing to make commission-free trades, immediate access to proceeds from stock sales, expanded trading hours from 9 a.m. → 6 p.m. and a predictable monthly fee instead of varying interest.

Is Robinhood Safe?

Robinhood must meet the same Securities and Exchange Commission regulations as any brokerage firm. These rules aim to minimize fraud and eliminate unfair trading practices.

The Robinhood app also operates under the guidelines of the Securities Investor Protection Corporation (SIPC), which protects clients from losses of up to $500,000 for securities and $250,000 for cash in investment accounts if the losses are due to the financial instability of the brokerage company. So, if you use Robinhood, you and your funds are heavily protected from specific threats.

Trade Commission-Free At Robinhood

What Is M1 Finance?

M1 Finance is a broker that provides you with a platform to craft your own portfolio, copy a professionally designed portfolio or even automate an investment strategy.

Trading on the M1 Finance platform is free, provided you keep a minimum balance of $100 in your taxable account or $500 in an IRA account.

A choice of 60+ model portfolios are at your fingertips and geared toward specific financial goals, like sending your kids to college or funding your retirement.

What Are M1 Finance Pies?

A popular feature is called Pies, which are divided into two overall categories: MyPies and Expert Pies.

The platform lets you select how you would like your investment funds distributed and then automates those choices.

Expert Pies include eight categories representing the most common investing goals. For example, if you are setting your sights on funding your retirement, you could opt into a premade pie portfolio designed for just that purpose.

You could also create your own plan in the MyPies category by choosing where you would like to invest each pie segment. M1 Finance also gives you the flexibility to customize one of its premade portfolios.

The best part is computer algorithms automatically keep your pie balanced to optimize your ROI.

Get Excited by M1 Finance!

M1 Finance vs Robinhood
Features

The primary benefit of each brokerage platform includes commission-free stock trading. Free market data, web-based and mobile apps are highlights too.

One main area where M1 Finance and Robinhood diverge is the type of investing each makes available to you.

For example, M1 Finance offers bond trading while Robinhood does not. On the other hand, Robinhood offers options trading, which allows you more flexibility plus a greater ability to manage investment risk. M1 Finance does not.

Active vs Passive Trading

The Robinhood app wins points for providing plenty of leeway when you want to get hands-on experience investing your money in stocks, ETFs and tradable securities. Less automation means more immersion and therefore a more in-depth learning experience that will stand you in good stead as you grow as an investor.

Cryptocurrency Trading

Unlike M1 Finance, Robinhood is cryptocurrency-friendly. If you are curious about investing in virtual currencies such as Bitcoin or Ethereum, you can use this app to dive in.

Stock Market Research

As far as keeping a finger on the pulse of market trends, both brokers provide investment product overviews; however, neither M1 Finance nor Robinhood offers much in the way of market research and resource material.

With that said, M1 Finance features some resources, including blog posts on various investment topics and emergent trends.

Fee Comparison:
Robinhood vs M1 Finance

Both Robinhood and M1 Finance offer free trading, meaning no commissions charges, but you will still pay clearing fees charged by exchanges.

Robinhood clients who wish to trade on margin must pay for the privilege.

Robinhood Fees

Straight stock and options trades are commission-free with the Robinhood app.

When you want to open a margin account to take advantage of greater financial flexibility for your portfolio, you must keep a minimum of $2,000 in your account.

Unlike many robo-advisor apps that charge interest on margin trading, Robinhood withdraws a set monthly fee from your account, which is based on your margin, or buying power, and your account balance.

For example, if your balance is between $6,000 and $12,000 and your buying power is within the $2,000 to $6,000 range, your monthly fee ranges from $10 → $25 per month.

This investment app simplifies transfers to maintain your minimum with a no-cost Robinhood Instant upgrade. Instant also facilitates immediate trade proceeds deposits.

M1 Finance Fees

While M1 Finance has not charged commissions to users since 2017, it requires that you establish a standard account with a first deposit of $100 or a retirement account with at least $500.

Once you have taken care of that detail, your stock and ETF trades are free.

Get Excited by M1 Finance >>

How Does Robinhood Make Money?

You know that these brokers have to make their money somehow to justify their existence and may wonder how they do that without charging commissions?

One way the Robinhood app generates revenue is by earning interest on the money in your margin account and passing any regulatory fees associated with trades on to you. It also collects $10 per call if you choose to speak with a live trader.

Robinhood collects those monthly fees assessed on its Gold margin accounts. It earns per-trade revenue on its recently launched cryptocurrency trading platform as well.

How Does M1 Finance Make Money?

Similarly, M1 Finance makes some of its money on the unused cash in its required customer accounts.

It also collects proceeds from fees paid for directed orders, cash management and securities sold short.

Investment Minimums:
M1 Finance vs Robinhood

Investment minimums can come into play immediately, in the case of M1 Finance, or at a later date, which is the case for Robinhood.

M1 Finance Investment Minimum

As mentioned, you must have either $100 or $500 to lay down in a reserve account if you want to use M1 Finance.

Once you start trading, you won’t be penalized if balances dip below those levels.

Robinhood Investment Minimum

You can jump right into trading with Robinhood because no deposit is required.

Of course, you do need enough funding to pay for your investment purchases.

Once you feel comfortable with trading and want more flexibility, you may want to establish a margin account with Robinhood, which requires a minimum cash commitment of $2,000 on an ongoing basis.

Account Types

Beyond the standard taxable accounts, both brokers offer some additional account types.

Robinhood Account Types

Robinhood offers the Instant account; the Robinhood Gold upgrade, which is a margin account; and a Cash account.

Robinhood Instant streamlines fund processing and comes with after-hours trading privileges.

The Robinhood Gold upgrade lets you borrow up to half of your balance for trading purposes while the Cash account does not offer the premium features of Instant or Gold.

M1 Finance Account Types

You can establish a brokerage account with M1 Finance with a taxable minimum balance of $100. For example, you might want a joint brokerage account for you and your spouse.

Retirement account options include a traditional IRA, a Roth IRA, a SEP IRA or a Rollover IRA, each requiring a $500 minimum deposit.

M1 Finance also provides a trust account option, which requires that you fill out some paperwork.

Tax Strategy

A tax strategy is a critical component of your overall trading plan.

Robinhood Tax Strategy

Robinhood does not offer a tax-deferred account option, so you will find yourself paying tax on any income you make from your investments.

The app will provide you with a tax statement on your trades, so you can report gains to the IRS.

M1 Finance Tax Strategy

M1 Finance provides a tax-deferred account option where you can squirrel away your investment proceeds. What you eventually pass on to the IRS depends upon the terms of the particular type of IRA you choose.

M1 Finance vs Robinhood
Overall Winner

Which Broker Is Best For You?

If you do not have the time or the enthusiasm to devote to building a portfolio from scratch, you will probably find the M1 Finance pie system more user-friendly and manageable.

In contrast, if you want to pull yourself up by the bootstraps and really learn as you go, starting off with a simple yet robust platform like Robinhood may be the better choice for you.

Trade Commission-Free At Robinhood

Robinhood FAQ

Can you day trade on Robinhood?

Robinhood Instant and Robinhood Gold accounts are limited to 3 trades per day. Accounts with balances of $25,000 and higher may be eligible for day trading.

How long does it take Robinhood to settle funds?

Typically, it takes 2 days for funds to settle.

How long does it take to get money from Robinhood?

Deposits must remain in Robinhood for at least five days before withdrawals can be initiated (to comply with money-laundering laws). On day 6, uninvested funds are transferred to your cash account to be withdrawn.

How long does it take Robinhood to approve your account?

The account approval process generally takes 2 → 3 days at most.

Does Robinhood have withdrawal limits?

Yes, the daily limit for deposits and withdrawals is $50,000.

>> Related: Check Out Robinhood vs tastyworks

The article M1 Finance vs Robinhood Comparison was originally posted on Investormint

Few automated investment management companies can match robo-advisor leaders like Betterment and Personal Capital, but M1 Finance is a rare exception.

Like other digital money managers, M1 Finance uses computer algorithms to manage client portfolios. Unlike most robo-advisors, it is also a brokerage firm that allows clients full control over portfolio selections.

Best of all, M1 Finance fees are zero. Don’t expect hidden platform fees to creep up from behind and surprise you either, they simply don’t exist!

But fees alone are just one factor to consider when considering how to invest your money. In this M1 Finance review, we look at investment minimums, tax strategy, account selections, asset class options, and more so you know whether it’s right for you.

M1 Finance Spotlight

How Does M1 Finance Make Money?

Before getting into the nitty gritty, you might be wondering how does M1 Finance make money given that its fees are zero?

The free trading commissions business model is a head-scratcher if you are coming from the traditional world of brokers who tack on charges for each buy and sell transaction.

The unique twists that allow the company keep its costs zero are threefold:

1. Selling customer order flow
2. Generating margin interest when clients borrow funds
3. Earnings on cash balances

M1 Finance Wiki

Here’s a quick M1 Finance wiki to get you up to speed on what makes M1 Finance different.

First, you need to learn the “lingo” used by this hybrid broker / robo-advisor.

No matter where you turn as a client on the platform, you’ll see the term “Pies” used but what are M1 Finance pies?

• Pies are simply visualizations of portfolios on the platform.
• My Pies are custom-built portfolios that clients create.
• Expert Pies are ready-made portfolios created by experts.

As a client, you can build your own “My Pies” by investing in any combination of hand-picked exchange-traded funds, stocks, and Expert Pies.

Invest Free at M1 Finance

What Are M1 Finance Pies?

The best way to think of a Pie is as a portfolio with lots of “slices”, which may be picked by clients or pre-made.

The problem with most portfolios in traditional brokerage accounts is that, over time, the percentage allocations of positions drift.

For example, an investor who bought a small Netflix stock position years ago may discover that it is now a much larger weighting.

While that’s good news when stock markets are rising, it could spell higher losses when they fall.

To avoid a situation where one position dominates a portfolio, M1 Finance monitors the sizes of each “slice of pie” to ensure they remain the same over time.

Stock market beginners who don’t feel comfortable or don’t know how to get started can buy pre-populated portfolios, called Expert Pies. Experienced stock pickers can select as many as 100 “slices” (of stocks, ETFs, or other Pies for example) to build custom-made portfolios.

The number of M1 Finance pies is north of sixty making it a cinch to build a diversified portfolio with a few mouse clicks.

How Does M1 Finance Work?

The big innovation at M1 Finance when compared to traditional brokerage firms is its computer algorithms keep portfolios balanced long into the future. Portfolio rebalancing is free as you might expect!

Whether you are seeking passive income, planning for retirement, keen to mimic portfolios of billionaires, or want exposure to a specific sector, Pies that match your financial goals are available at your fingertips.

Investors seeking exposure to bonds or even socially responsible portfolios will all discover Pies to meet their needs.

If anything, you’ll be spoiled for choice with over 2,000 exchange-traded funds available to purchase.

M1 Finance Tax Strategy

It’s commonplace these days for robo-advisors to provide an automated tax strategy.

Tax-loss harvesting is the name Betterment uses. Ellevest describes its approach as a Tax Minimization Methodology.

The M1 Finance tax strategy is called Built-in Tax Efficiency. It uses an automated lot allocation strategy when selling securities aimed at reducing taxes owed.

Compared to industry leaders, M1 Finance lacks some bells and whistles. While tax-loss harvesting is valuable for taxable accounts, it doesn’t account for how to spread assets across retirement and taxable accounts in a most tax efficient way.

For that tax coordinated portfolios are needed to place tax efficient assets in tax inefficient (standard) accounts and tax inefficient assets in tax-advantaged accounts.

M1 Finance Investment Minimums

Technically, no account minimums are imposed by M1 Finance. But in order to open a taxable account, your first deposit must be at least $100.

The minimum first deposit for an IRA is $500.

You might be perplexed as to why there’s no stated minimum if fixed amounts are required to open accounts.

Here’s the answer to that riddle…

If you were to open a taxable account for $100, purchase stocks, and thereafter the value fell below $100, you would not be penalized or charged fees in any way, even though your account balance is under the first deposit investment minimum.

Clients must meet the first deposit minimums to begin investing in any portfolio, whether custom My Pies, stocks, funds, or Expert Pies.

For more adventurous investors who plan to use margin, account balances must be $10,000 or higher.

Margin is not available to users with account values below $10,000.

Invest Free at M1 Finance

M1 Finance Pros and Cons

Other M1 Finance Fees

While trading commissions costs are zero and no platform fees are charged, other miscellaneous M1 Finance fees may be applied.

M1 Finance Accounts

M1 Finance supports a wide range of account types, including individual, joint, retirement, trust, and custodial.

M1 Finance Fees & Review Summary

It’s hard to stand out as a broker or a robo-advisor these days but by combining both of those services under one umbrella, M1 Finance has few rivals.

Active traders will still do better at a traditional brokerage firm but investors who prefer a more hands-off approach will find M1 Finance to be a better match.

Clients can choose a fully automated investing experience by purchasing Expert Pies, which are ready-made portfolios built by financial experts. Or they can choose to be more hands-on by picking stocks, ETFs, and even Expert Pies to build custom portfolios.

Whichever path is a match, investment minimums are low, a broad selection of asset classes are offered, and a wide range of account types are featured.

The bottom line is it’s a tall order to create a platform that can serve the needs of most investors, but M1 Finance sets the bar.

Invest Free at M1 Finance

The article M1 Finance Fees – $0 Trading Commissions was originally posted on Investormint

Robinhood vs Stockpile, which online broker is best? We compare these leading stock brokers to find out which has better commissions rates, investment minimums, account selections and more.

Both brokers have innovative business models. Robinhood pioneered the idea of free stock trading while Stockpile combines a discount brokerage firm with a stock gift-giving service under one umbrella.

If low trading costs are your top priority, Robinhood simply cannot be beaten. But if you prefer the idea of gifting shares of stock to your loved ones instead of giving the latest toy that will soon be tossed to the garbage, Stockpile is your best bet.

Let’s take a closer look to see which online broker is best for you!

Robinhood vs Stockpile

• InvestorMint Rating

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• Standout Feature
  Give the Gift of Stock
• Commissions
  Stocks: $0.99+
• Account Balance Minimum
  $0
• Open an Account

• InvestorMint Rating

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• Standout Feature
  Zero Commission Trading
• Commissions
  Stocks, ETFs, Crypto: $0
• Account Balance Minimum
  $0
• Open an Account

The Robinhood app is a commission-free trading platform. Literally, you can invest for free; no hidden fees will crop up to surprise you.

Whether you buy or sell stocks, ETFs, or even cryptocurrencies, transactions costs are nil.

So the obvious question is…

How Does Robinhood Make Money?

Most brokers make money by charging clients who buy and sell securities.

But Robinhood takes a different tack altogether. It makes money by selling customer orders to market makers.

Every time you buy or sell, market makers pay Robinhood for customer “order flow”.

Another way Robinhood makes money is by charging clients for its margin trading service, called Robinhood Gold.

While Robinhood honors its promise to deliver free stock trading, it will charge users who wish to borrow funds. So if you plan to leverage your money to “goose” returns, you’ll need to pay a rate that depends on your borrowed amount.

Lastly, Robinhood may earn interest on cash sitting in accounts.

Trade Free at Robinhood

Quick Stockpile Review

Stockpile is a discount brokerage firm that lets traders buy and sell stocks just as easily they would at tastyworks.

The twist in the Stockpile business model is anyone – not only clients – can purchase gift cards of stock.

Both physical and virtual gift cards of stock are available to buy online or even at major stores like Safeway and Target.

The same way you could buy someone a Starbucks gift card you could buy them a gift of Netflix stock or Amazon stock. The main difference is the Stockpile gift could last longer and grow in value over time.

For parents, uncles, and aunts looking to teach their kids, nephews, or nieces about saving, investing, and putting money aside for a rainy day, Stockpile is an innovative solution.

Which Broker Is Best:
Stockpile or Robinhood?

Robinhood vs Stockpile:
Commissions

There is no debating who comes out on top in the fees and commissions battle. Zero commissions on stock, ETF, and cryptocurrencies trades can’t be beaten – Robinhood takes home the prize.

Robinhood Commissions

You will pay clearing fees still but those charges are outside of Robinhood’s control.

And if you wish to borrow money to invest, Robinhood Gold is a fee-based service that requires approval to access.

Stockpile Commissions

Commissions costs are rock bottom at Stockpile. It costs just $0.99 per trade to pick up shares of stocks like Alphabet or AutoZone.

You can even buy stocks using a credit card but beware that an extra 3% credit card processing fee is tacked on to commissions charges.

The cost to buy a gift card is $2.99 plus a 3% credit or debit card fee.

So to give a $100 Nike gift card to your little nephew Joey, you would pay $105.99.

A physical gift card that you can hand over in person (versus an electronic gift card you can e-mail) will cost you anywhere between $4.95 and $7.95.

Give Stock Gifts at Stockpile

Types of Investments Comparison

Neither Robinhood nor Stockpile is built with the frills you would enjoy at Schwab or Fidelity. Futures and forex traders will need to look elsewhere.

Unlike Stockpile, which sticks with stocks and ETFs only, Robinhood goes a few steps further by supporting options trading and cryptocurrency trading too.

Its options service is a little bleak compared to industry leaders. For example, Robinhood doesn’t support market orders for options trades.

And you won’t find anywhere near the same number of tools, screeners or scanners as those that top options brokers provide.

Investment Minimums

Neither Robinhood nor Stockpile imposes investment minimums to open accounts.

Account Types

Unlike full-service brokers, Robinhood and Stockpile sacrifice account selection for a simple service offering.

Both offer taxable accounts but Stockpile also offers custodials accounts so children can receive gifts of stock.

Give Stock Gifts at Stockpile

Stockpile vs Robinhood
Overall Winner

Which Trading Platform Is Best:
Robinhood or Stockpile?

For fee-savvy traders, Robinhood and Stockpile are both low cost trading options but nothing beats free and Robinhood takes the prize with zero commissions charges on stocks, ETFs, and cryptocurrencies.

Where Stockpile shines brightest is its support of stock gifting. Clients and non-clients can buy gift cards of stock for loved ones. Stock gifts can be bought virtually online or physically in stores.

Neither broker does a particularly good job of catering to advanced traders, so if screening tools are important to you or you plan to actively trade futures or forex, you’ll need to look elsewhere. However, both offer trading platforms that are easy to use and very intuitive.

If you’re a stock market beginner or simply fee-sensitive, Robinhood is best. If you want the added bells and whistles of gift-giving, Stockpile is the better match.

Zero Commissions Trading Give Stock Gifts

The article Stockpile vs Robinhood Comparison was originally posted on Investormint

If price is your primary concern, SogoTrade delivers with low stock and options commissions rates.

It even provides a highly unusual prepaid choice where you can pre-pay for trades at even lower rates.

For traders placing up to 149 trades per quarter, the base rate is $4.88 but you can lower that to $3.88 per trade by signing up to a prepaid package. If you place 150 or more trades per quarter the pay-as-you-trade cost is $2.88 for unlimited market or limit orders.

But while SogoTrade earns top marks on pricing, it lacks bells and whistles in some other areas, such as research, education, and tools.

SogoTrade Spotlight

Is SogoTrade Right For You?

SogoTrade has low commissions costs and a range of platforms to serve novice, intermediate, and experienced traders on desktop, web-based, and mobile. Futures and forex traders as well as mutual fund investors should look elsewhere.

SogoTrade is designed for the price-sensitive stock and options trader who doesn’t need a whole lot of help making trading decisions.

The pricing is hard to beat and SogoTrade deserves high praise for keeping commissions so low.

If you need broker assistance to place trades, you will be charged $25 for the support, though most traders at SogoTrade are likely to be familiar with the nuts and bolts of how to place trades.

For a full-service offering, a broker like Schwab will be a better bet.

Where SogoTrade falls short is its somewhat clunky site, which is not nearly as intuitive as you might wish.

One reason it’s hard to puzzle through precisely how to navigate SogoTrade is that it attempts to brand a bunch of different offerings with the “Sogo” label.

Experienced and advanced traders should probably skip straight to SogoElite while SogoOnline and SogoTrader are a better bet for traders who are newer to the stock market game.

Mutual fund investors as well as futures and forex traders won’t find a home a SogoTrade, and would be better served elsewhere.

Open a SogoTrade Account

SogoTrade Review:
Research and Tools

SogoTrade struggles to match rivals like TradeKing and OptionsHouse when it comes to overall tools and research but it does a pretty good job for options traders.

SogoTrade faces stiff competition when it comes to research provided by its rivals. Many brokers offer third-party research reports from Morningstar while some, like Schwab, produce their own research, and still offer competitive commissions.

By contrast, SogoTrade provides no research on mutual funds, bonds, or companies that are listed on pink sheets.

However, SogoTrade does redeem itself when it comes to tools. While not in the class of tastyworks or thinkorswim, SogoTrade holds its own against most competitors.

In particular, options traders are provided some key analytic tools, including:

• Probability calculators
• Profit/loss charts
• Greeks analysis & insights

Stock investors will be less well served with rudimentary financial statements, such as balance sheets, cash flow and income statements, but don’t expect the deep dive analytic research provided by research specialists such as Morningstar.

SogoTrade Review: Pros and Cons

SogoTrade offers platforms that cater to traders of all levels whether on desktop, web-based, or mobile. Options traders are especially well supported but don’t count on more than basic financial research on companies.

>> How To Invest $20k

SogoTrade Securities

You can trade stocks, options, and ETFs at SogoTrade but thinkorswim or Schwab are worth checking out if you want to trade futures, forex, or mutual funds.

>> Options Traders: Check Out tastyworks

SogoTrade Account Types

SogoTrade Review: Fees

SogoTrade has an industry-leading fee schedule, particularly as it relates to options and stocks:

SogoTrade Platform Features

SogoTrade Review Summary

SogoTrade is one of the most competitively priced discount brokerage offerings available, and it is designed for the stock and options traders who can autonomously make trade selections without the need for much more than basic research.

Options traders are especially well catered to with probability calculators, insights into Greeks, and profit and loss charts. Advanced traders too will be pleased by the desktop platform, SogoElite, which has enough bells and whistles to warrant serious consideration.

For traders looking for commission-free ETFs, futures, forex, bonds, or mutual funds, or if you simply want to avoid the annual IRA fee, thinkorswim will be a better bet.

Open a SogoTrade Account

The article SogoTrade Review 2020 – Prepaid Discounted Trades was originally posted on Investormint

Gaspard de Dreuzy may not be a name familiar to you but he is the visionary co-founder behind the highly innovative Kapitall platform. His passion to use technology and design to disrupt existing business models led him to create Kapitall, a brokerage firm with a twist.

Unlike most brokerage firms that stick to the basics of order execution, tools, research, education, and so on, Kapitall looked at investing and trading through a different lens: how to make the serious world of investing a little more fun and engaging.

Kapitall began as a simple investing game but over time it has morphed into a fully fledged brokerage firm. True to its roots, Kapitall offers world class design and an intuitive user experience so you can explore fun, game-like interactions  to earn rewards that can be redeemed for prizes.

If we compared commissions costs charged by Kapitall a few years ago to rival brokers the costs would compare well but these days fierce competition among brokers on pricing means the flat rate charge of $7.95 imposed by Kapitall is pricey for a platform that only caters to stock and ETF traders.

Kapitall Spotlight

KAPITALL SPOTLIGHT
InvestorMint Rating 1 2 3 4 5 3.5 out of 5 stars	Stocks & ETFs: $7.95 flat rate Account Minimum: $0 Maintenance Fees: $0 Get Started via Kapitall secure site

Is Kapitall Right For You?

Kapitall has created a stock trading platform that looks similar to a video game interface. You can earn rewards and cash them in for prizes, as well as pop-ups to warn you when you are about to place risky trades.

Kapitall is designed for investors who grew up in the video game era. If it is second nature to you to earn rewards that you can redeem for prizes in exchange for taking various actions, Kapitall will make you feel like you are in the right place.

Unlike other brokerage firms who offer traditional services, such as research, charts, and education, Kapitall takes a different approach by giving you the opportunity to earn “Koins”, which can be exchanged for merchandise, gift cards, and access to tools.

The website is easy to use and features drag-and-drop functionality to place trades easily as well as pop-up warnings – much like an anti-virus software pop-up – when you are considering placing a potentially risky trade.

While there is a lot to like about how Kapitall has re-imagined trading platforms, the one striking drawback is the limited selection of securities available to trade. Only stocks and ETFs are supported on the platform, so if you wish to trade options, futures, forex, or bonds, you will need to look to other platforms, such as tastytrade.

Open a Kapitall Account

Kapitall Review: Tools

You can easily scan for stocks, view company snapshots, and get real-time quotes at Kapitall but the range of tools won’t match those of the best online stock brokers.

Kapitall won’t beat thinkorswim or tastyworks when it comes to tools but unless you are a hardcore trader, you will likely be quite satisfied with the diverse range of tools on offer to help you find trading opportunities.

Among the tools and features offered by Kapitall are:

• Stock screener
• Applications to see the portfolios of successful traders
• Company snapshots
• Chart multiple stocks
• Real-time quotes

Another free bonus is Kapitall Wire, a blog portal that features latest news events, stock picks & lists, tech lists, infographics, analysis & opinions, and hedge fund lists.

A virtual trading platform is available too so new investors can practice for as long as they need to become comfortable before risking real capital.

And for traders on-the-go, a mobile platform is available that is iOS compatible so whether you are on an iPhone or iPad, you can access your portfolio.

Kapitall Review: Pros and Cons

Kapitall stands apart from most brokers with a gamification system that rewards you for certain actions and gives you the chance to unlock prizes, but if you are a serious trader, you will be better served at tastyworks or thinkorswim.

Kapitall Securities

Only stocks and ETFs are available on the Kapitall platform so if you are keen to add options, futures, or forex to your trading you will need to look to Schwab.

Kapitall Account Types

Kapitall Review: Fees

Kapitall charges a flat rate for trading stocks and ETFs, and imposes no account minimums or maintenance fees but you will be hit with a hefty fee for outgoing wires.

Kapitall Platform Features

Kapitall Summary

Kapitall deserves high marks for re-imagining the world of trading platforms with an innovative design that overlays gamification and stock trading.

If you are a gamer who gets a thrill from earning rewards for taking actions and redeeming virtual money, called Koins, for prizes, then Kapitall is for you. In fact, you won’t find many rivals to Kapitall if this is your aim.

Plus, Kapitall offers tools, such as a stock screener and apps to spot what portfolios top traders are holding, to keep you engaged and help your trading decision-making.

For serious investors who need state-of-the-art tools and company research, other platforms will be a better fit. Also, if you want to add options, futures, or forex strategies to your stock investing, then you will need to look elsewhere, such as the best online brokers.

Open a Kapitall Account

The article Kapitall Review 2020 – Stock & ETF Trading Made Fun was originally posted on Investormint

Audience matters at Lightspeed Trading. If you are a day trader, a hedge fund, an institution, a financial professional or a trading group looking for fast execution at low cost without the need for bells and whistles, Lightspeed is worthy of serious consideration.

Lightspeed caters to stock, options and futures traders, but mutual fund and bond investors will need to look elsewhere.

Where Lightspeed shines is its clean, fast order fills and low costs, especially for volume traders. However, beginner investors and newbies should look elsewhere for educational resources, research, and a more friendly user interface.

Lightspeed Trading Spotlight

LIGHTSPEED TRADING SPOTLIGHT
InvestorMint Rating 1 2 3 4 5 3.5 out of 5 stars	Promo: 14-day Free Trial Account Balance Minimum: $10,000 for Web Trader Platform Commissions: $0.0045 per share under 249,999 shares Commissions: $1 minimum Get Started

Lightspeed Trading
Platforms & Customers

Lightspeed Trading has a variety of platforms, mostly catering to professional traders, hedge funds and institutions, with high account minimums and serving primarily equities and options traders.

Lightspeed is unabashedly designed for active, high volume and professional traders and customers can select from a variety of trading platforms.

Web/Mobile Trader is best for traders who are looking to buy and sell equities and options. Watchlists and streaming level 1 quotes are available.

The other platforms, LS Trader, Sterling, Livevol X, and RealTick Pro are designed for hedge funds, institutions, active traders and professional investors.

All platforms cater to equities and options trading but futures are only available using RealTick Pro.

Streaming Level 2 quotes are available on all platforms except the Web/Mobile Trader platform.

All platforms support Watchlists and most (only Livevol X is the exception) cater to after-hours trading.

With its focus on fast execution it’s no surprise Lightspeed caters to Hot Key Order Entry, which is available on its LS Trader, Sterling, and RealTick Pro platforms.

Regular investors have full access to Lightspeed on mobile devices as well as via the web. Other platforms are downloadable to desktop.

Lightspeed Trading is best for:

• Institutional investors
• Hedge funds
• Day traders
• Professional traders
• Trading groups
• Fee conscious traders
• Highly active traders

Platform Account Minimums

Our review will focus on Lightspeed Trader, the main platform for regular investors.

Lightspeed Trading
Commissions & Fees

Lightspeed Trading offers a tiered pricing structure that rewards volume traders and active stock, options and futures traders.

Volume discounts at Lightspeed are very appealing to high volume, active traders. Once you are classified in the Active Trader Group Rate, you are charged that rate on all shares.

For example, if you trade over 1 million shares monthly, you will be charged the rate of $0.0025 on all shares traded, not just those shares over 1 million.

Stock & ETFs Per Share

Stock & ETFs Per Trade

Options Per Contract

Futures Per Contract

Platform Software Fees

Open a Lightspeed Trading Account

Lightspeed Trading
Pros and Cons

Lightspeed Trading offers hyperactive traders excellent commissions rates and a wide variety of trading platforms to cater to their needs but account minimums are high, the user interface lacks polish, and only equities, options and futures are supported.  

Lightspeed Trading Securities

Equities, options and futures trading is supported at Lightspeed Trading but mutual funds investors and Forex traders should look to other platforms, such as Vanguard and TradeKing.

• Stocks
• ETFs
• Options
• Futures

Lightspeed Trading Snapshot View

Lightspeed Trading has a high initial funding requirement and high account balance minimum plus a high portfolio margin minimum but commissions on equities, options and futures orders are highly competitive.

Lightspeed Trading Platform Features

Lightspeed Trading Account Types

Lightspeed Trading Summary

Lightspeed Trading is designed for highly active traders who are fee sensitive. Volume discounts are applied with ever higher trading volumes to incentivize trading frequency.

The bells and whistles of advanced charting tools, research, back-testing and screeners for which thinkorswim and TradeStation are known are lacking at Lightspeed Trading.

Also lacking are mutual funds and bonds, which appeal to casual and beginner investors.

The bottom line is traders who know what and how they want to trade will find Lightspeed does an excellent job meeting their needs for inexpensive clean fills while investors needing a little more hand-holding and support should also consider other brokerage platforms.

Open a Lightspeed Trading Account

The article Lightspeed Trading Review 2020 was originally posted on Investormint

“No bells, no whistles, no brokers, no salespeople” is the tagline Generic Trade leads with. Fast order execution and low costs are what the deep discount futures firm provides to customers.

The low-fee philosophy at Generic Trade extends more broadly to other areas. No account balance minimums are stipulated, no minimum trading activity fees are imposed, and no maintenance charges or quarterly fees are applied.

Generic Trade shuns the tiered commissions pricing structure favored by some brokers, and keeps things simple: $0.59 commissions per side for futures and options on futures.

For the self-directed trader who doesn’t need much hand-holding, Generic Trade offers a no-frills, low-cost platform that does the basics well: fast, inexpensive order execution on futures and options on futures.

Clients should note that the range of asset classes offered by Generic Trade is limited to futures and options on futures. It is not possible to trade equities or options strategies, such as covered calls, on the Generic Trade platform.

Generic Trade Spotlight

GENERIC TRADE
InvestorMint Rating 1 2 3 4 5 3.5 out of 5 stars	Commissions: $0.59 per side Account Balance Minimum: $0 Get Started

Generic Trade Review: Customers

Generic Trade is a specialty deep-discount futures firm. It serves fee-conscious, experienced futures traders by providing a no-frills platform that delivers on providing inexpensive and fast order execution.

Generic Trade serves self-sufficient, fee-savvy futures traders well. Although the platform may not have the bells and whistles of full-service brokerage platforms, it offers enough functionality to meet the needs of its audience: fast order execution, free real-time data, low margins, and no account balance minimums.

It falls short by not providing broker-assisted trades but that’s not something experienced traders will miss much, and if customers do have queries, phone support is available 24 hours a day. Email and Live Chat help is also accessible to customers.

Traders with more complex financial situations will be pleased with the range of account types offered: individual, joint, partnership, corporate and trust.

Generic Trade is best for:

• Fee-conscious traders
• Futures traders
• Options on futures traders
• Experienced traders

Generic Trade Review: Trading Platforms

Mobile and online access is available via Generic Trade with Generic Trader Professional soon to be available via its mobile app. 

Since 2014, Generic Trade has offered exclusively the Generic Trader Platform suite with the Generic Trader Professional, Generic Trader Online and a dedicated Mobile application.

Coming soon, Generic Trader plans to offer a brand new mobile application that will offer all of the robust features of the Generic Trader Professional.

Generic Trade Pros and Cons

Generic Trade keeps costs low across the board. No data fees are applied and no maintenance or inactivity fees are imposed. The account balance minimum is zero, and margin minimums imposed are set to the levels mandated by exchanges.

However, new traders looking for some hand-holding should consider other alternatives because Generic Trade does not offer broker-assisted trades. Traders looking beyond futures and options on futures will need to rely on other platforms, such as tastyworks or thinkorswim.

Generic Trade Securities

Generic Trade offers futures traders and options on futures traders a low-fee platform, but stock traders, forex traders, options on stocks traders, as well as mutual fund investors should consider other alternatives, such as TastyWorks or thinkorswim.

• Futures
• Options on Futures

Generic Trade Fees

Generic Trade applies no account balance minimums, provides data free, and charges no inactivity or maintenance fees. Trading futures and options on futures costs just $0.59 per side. 

Generic Trade Platform Features

Generic Trade Account Types

Generic Trade Summary

Generic Trade is a specialty brokerage firm that caters to futures and options on futures traders. Fees and commissions are about as competitive as at any rival specialty brokerage firm; commissions are just $0.59 per side, and no data, maintenance, or inactivity fees are applied.

Although broker-assistance is not offered, phone support is available 24 hours per day and live chat and email support is also provided.

Advanced charting, education, and third-party research are provided via web-based and desktop platforms.

Generic Trade serves its highly targeted, fee-sensitive audience well, but traders who want access to stock trading, options trading or forex trading will need to look elsewhere, such as TradeKing, eOption or TastyWorks.

Open a Generic Trade Account

The article Generic Trade Review 2020 was originally posted on Investormint