Online discount broking industry has seen its booming phase and now it’s more likely to consolidate as the investment sentiment has taken a backdrop globally. This is the time you stick with a leader in the industry, but compromising cheap rates and quality services is simply out of question. So, lets examine if it’s worth relying upon TradeMonster while the industry phases out through this dusty patch.

Hand Picked list of Cheap Online Discount Brokers

TradeMonster, a leading firm among cheap online discount brokers, has managed to carve a niche for itself with its highly acclaimed trading platform and reliable consumer support services. In today’s market environment, with the flooding of smart trading tools & platforms for stocks, options, mutual funds, bonds and ETFs, happy clients have their own reasons to back TradeMonster as a strong and dependable trading broker. TradeMonster surely gives you value for the commissions they charge, and they have a pack of users who swear by their platform tools and its unmatched user interface and utility.

TradeMonster Pricing Structure

Stock Trade Comparison with Leading Brokers

Shares Traded	100	1,000	2,500	5,000
	$7.50	$7.50	$7.50	$7.50
TD Ameritrade	$9.99	$9.99	$9.99	$9.99
E*TRADE FINANCIAL	$9.99	$9.99	$9.99	$9.99
Fidelity	$7.95	$7.95	$7.95	$7.95
optionsXpress	$9.95	$9.95	$25.50	$50.00
Schwab	$8.95	$8.95	$8.95	$8.95

You get Smart Tools, Educational Resources and much more at TradeMonster

TradeMonster comes very well equipped with excellent trading and investment tools which make it simple to conduct portfolio analysis, trade feasibility analysis, and they also have plenty learning resources for newbie and professional investors.

TradeMonster even facilitates its users to have the option to trade the stocks using paper money using all the smart technology that TradeMonster boasts of. TradeMonster may appear a hard nut to crack to the average man equipped with basic knowledge of the market. It offers professional tools like live streaming trading quotes, trade calculators, investment charts. It also provides you with exit strategies to help you sneak out with a sizeable profit. Here margin rates dip as low as 2.5%. Customer support is credible and will not leave you disappointed. If you are a man constantly on the move and online trading is not possible, they give you an option to do it on your mobile too.

Innovative Trading Platform

TradeMonster provides you with an option to keep a close eye on the markets with its trade simulation to help you mark the fake trades. Also real time streaming quotes and trade charts help you stay informed on the real ground position of your stocks. Their patent pending technology named as Spectral Analysis is another feather in their cap. It’s an intuitive technology that helps investors deal with future contracts and outcomes.
They don’t charge monthly platform fees or inactivity fees. They offer investment options like Stocks, options, ETFs, over 500 mutual funds, fixed income investments. If as a trader, you are looking for the perfect broker, TradeMonster fits right in terms of excellent customer services, affordable and well quoted pricing and advanced trading tools. With its smart and unique trading techniques and the tools and services it offers its investors, TradeMonster is all set to rule the root and gather quite a loyal customer base with both experienced investors and new traders as well.
Barron’s 2010 & 2011 ranking called it “Best for options traders”.

Best for Options Traders

TradeMonster Editorial Review

I have been an active trader for past one year and anyone can tell from my portfolio that I have done pretty well, to know more about it, check out Punit’s Portfolio . Btw I am very active on Twitter, if you would like to trade with me, feel free to follow me on here: Follow Punit

So far I’ve been using TD Ameritrade as my main brokerage for both Stock and Options trading. I admit that the pricing at TD Ameritrade is quite steep but honestly speaking, it was worth it for an active trader like me. Most of my trading is done on my iPhone and I have been using iStockmanager for past 6 months or so. Recently, iStockmanager was acquired by TD Ameritrade and believe me or not, now it is completely a waste of time. There are several problems with the app like

1. Quotes not displaying at all
2. Quotes getting mixed up
3. App crashing on you
4. Not allowing you to trade

For a list of more problems, please visit the Facebook page: iStockManager Problems

I took a further step and opened up a case with Consumer Forum hoping to put some pressure on TD Ameritrade. In the mean time, I have gone ahead and opened an account with OptionsHouse. Quality of service at OptionsHouse used to suck a lot until few months ago; I mean you never got what you paid for honestly. However I was pleasantly surprised at the improvements they have made. Their new trading platform is not just a surprising display of technological innovation but is also a calculative tool for out-and-out traders. OptionsHouse Platform props up a flexible option chain, professional-grade trading tools, and single-click trading. With a Picture-Perfect Trading scenario they create, transacting becomes more of fun than just an unexciting business arrangement. If time management, security and consistency be the questions, well, I found the new OptionsHouse a true friend that cares for each of my needs.  I couldn’t just keep my hands off for long and finally, yesterday I setup a transfer of 10k USD into my account to start using the account.

As I said I use my iPhone for most of my trading, another OptionsHouse feature that appeals me is their neat iPhone app that can be downloaded for free to enable for me trading-on-the-go! OptionsHouse iPhone App lets me monitor my trades and positions, search for tickers, companies and quotes, view quote charts, use trade spreads and try virtual trading.

OptionsHouse is currently offering 100 free trades OR 1 year free subscription to Wall Street Journal and many other offers that you can choose from. Click on the following link to get 100 free trades

OptionsHouse is definitely worth looking into. Their pricing makes them even more attractive as compared to TD Ameritrade. Look at following comparison table for pricing difference.

If you would like to open account with OptionsHouse or need more details, please check out: OptionsHouse Account

Also Read:-

Is New OptionsHouse Trading Platform Really Worth Your Money?

TradeKing’s Latest Pricing Comparison with Leading Online Brokers

Additional costs may include platform fee, annual charges, specialty order charge, and then pricing structure may vary per contract and per trade. What matters most to you is what you pay as trading commissions, but that’s not all, brokers levy many charges and fees which you can only discover after reading the fine print in detail.

We at CompareBroker ( A Leading Broker Comparison Website), have conducted an extensive research and after hours of comparisons and trying out different platforms, we are sharing our finding.

When it comes to commission structure and fee charged, OptionsHouse stands tall on our radar. This online discount broker has recently revamped itself with a new trading platform, which is competent to most top rated brokers who charge hefty brokerage. OptionsHouse is a true discount broker and you will certainly find it cheap to trade in stocks at a flat rate of $3.95/ trade. Options traders will find it much more lucrative than anyone else as they charge $5 for 5 options contrats, and for higher volumes you will have to pay $8.95 plus a small amount $.15/contract. Powered by Peak6 Investments, OptionsHouse lets you trade in millions of contracts under one platform, and what you pay is much less than any other broker would charge.

So, OptionsHouse is what we recommend to active traders who trade in large volumes as they for sure know the benefits of true discounts. You can visit OptionsHouse Official Website for application form, updated pricing and latest trading tools or continue reading more about OptionsHouse New Trading Platform (Launched March 2011).

Also Read ( Why should you trade with OptionsHouse? )

The next broker on our radar is Zecco, which is an ideal discount trading platform for retail traders who occasionally buy and sell stocks. 10 Free Trades each month is their key attraction for small investors, but to avail this promotion you need $25,000 as minimum cash balance in your Zecco account or you should make ablest 25 trades each month. They charge a flat rate of $4.50/trade and compete well in this segment.

Other popular players in discount broking segment that deserve a mention for their unique commission structure and fee charged are:-

• Lightspeed ( Get upto $10,000 in Commission Back )

Also Read: ( Lightspeed- Marching Ahead Organically, Through Acquisitions and Innovation ) & ( Lightspeed Buttresses Wall Street: Money Never Sleeps )

• TradeKing ( Fair Value and fair pricing: 4.95$ / Trade )

Also Read: ( TradeKing’s Latest Pricing Comparison with Leading Online Brokers )

• OptionsExpress ( Get 100$ for Opening an Account )

Also Read: ( What OptionsXpress has been developing in Store for You? )

• Scottrade ( Exceptional Online Stock Broker with Local Branch Offices)

Also Read: ( What made me open an account with Scottrade? )

We rank Zecco as the most suitable trading platform for new investors or those who do not trade much frequently. You can visit Zecco’s Official Website for application form, latest promotions and detailed pricing structure or continue reading Expert Views & Investor Reviews on Zecco.

If you are an ETF guy then the best place to be is TD Ameritrade as they have the widest selection of commission free ETFs that you can trade absolutely free. However, TD Ameritrade, Fidelity and Charles Schwab fall into the category of expensive brokers.

The key to our research was comparing account minimums, additional fees, special trade charges, platform costs, service upgrades and simple trading commissions.

So, after making all possible comparisons and testing trading platforms from a couple of top discount brokerages we have found that OptionsHouse, Zecco, and TradeKing are the most suitable options for retail investors and traders, not just because they are cheap but also that they are most transparent ones.

So, what is your next step?

Comparebroker’s Top Recommended Brokers

Broking solutions from TradeKing are relatively easier to understand while their trading platform and related tools are easy to operate. Just like any other online discount broking firm, TradeKing’s commissions for stocks, options and other trading instruments are one of the lowest in the industry.

Fair Value and fair pricing: 4.95$ / Trade

TradeKing Editorial Review & Client Feedback

Commissions Charged for Equity and Options Trading

TradeKing’s Equity Trading Commissions

Whether it is a limit order or a market order their fee is fixed at $4.95, which is lowest among leading brokers in the industry. Its nearest competitor Scottrade charges $7/trade, whereas, optionsXpress, TD Ameritrade and E*TRADE charge higher to $9/trade. That’s not all, TradeKing has gone ahead and kept the broker assisted trade charges same as normal trade charges at $4.95/trade. All other brokers mentioned above are no where close to TradeKing on this one as their charges range between $9.95 to a hefty $54.99 for every broker assisted trade. However, TradeKing charges $0.01/share on stocks with trading price less than $1. Also, they do not accept trades that include stocks with value less than $0.01.

TradeKing’s Options Trading Commissions

It is one of the most favored brokers for option traders as the commissions are $4.95/trade with an additional $0.65/contract. Scottrade is the nearest competitor as per commissions charged as it allows options trades at $7.00/trade with an extra charge of $1.25/contract. TD Ameritrade charges $9.99 plus $0.75/contract and the same pricing applies for E*Trade Financial. Another popular broker optionsXpress is a bit expensive for option traders as it charges $14.95 plus an additional $1.50.

Pick TradeKing for these Reasons

For complete Consumer Satisfaction

Usually, customer service is a serious lag among discount brokers, but at TradeKing You will get instant help from a customer relationship manager through chat and email. Their customer service has been admired by industry experts and many happy clients, and the recent ratings from Kiplinger and SmartMoney simply shows their excellence in the field.

Account Opening Benefits at TradeKing

Two popular offers

1. Earn $50 When You Refer Your Friends to TradeKing.

2. They Cover Transfer Fees up to $150

On account opening, customers are granted access to their award winning platform of trading and research tools, reports, calculators, screeners and a broad glossary of stocks and options. They even have a technical analysis tool option suitable for advanced investors and active traders. All these features come free of charge for all clients and there are no trade minimums attached.

Socialize and strategize with their Traders Network

Trading alone can be a nightmare, and at TradeKing you’ll never feel alone as they have this integrated network of clients, where everyone can benefit form each others experiences and guiding tips.

Feel safe with Protected Accounts

They use encrypted technology for secure transactions; moreover, there accounts are enables with SIPC protection and additional third party insurances. So, these features ensure that one will never be scammed with TradeKing.

Read More:

Broker Reviews 2011 Best Commissions and Fees in Stocks, Mutual Funds, ETFs and Options

TradeKing giving out 50$ just for Opening New Accounts

TradeKing joins Social Networking

Independent Rankings for Brokerage Firms based on Parameters that are important for any Investor

Ever since Charles Schwab lowered their commission rates for online trading & other brokerage firms joined the bandwagon of cutting the brokerage fees, I have been wondering about this topic. Are we slowly moving towards converting the whole discount brokerage industry into a commodity market?

What is commodity Market?

The economic definition of commodity market is a truly capitalist market where there is perfect competition because of presence of hundreds of direct / indirect competitors. The profit margins of such industries is tending to zero. Everyone is a bulk producer. Typical examples of commodity market is the agricultural industry. There is no product differentiation or brand loyalty. The company who manufactures the component with the cheapest rates is the most profitable in the industry. A few other industries which are tending towards becoming commodity markets are Airline Industry and Automobile Industry. Such industries are often associated with massive price wars. The examples of which we see on TV everyday with several thousand dollars in cash backs on the latest car models. You got to stop and wonder what in the world is going on with the marketing heads in such companies. Well the answer is simple; due to the competition, if you do not lower your cost and not offer crazy deals to buyers, you are set to lose your market share.

What is the future for Brokerage Industry

Brokerage industry traditionally was very far from such a structure. Investors worked with a real person who made sure your wealth is in safe hands. But then started coming the power of technology. People were replaced by online platforms which could be used by investors for trading. Companies started developing new trading tools and faster platforms to establish brand presence. The last 5 years was such a period. If you look at the recent history over past few years, fastest growing brokerage firms have been started very very recently. Now these firms are posing a major threat to established organizations a lethal threat. This threat is no different than what Toyota and Honda did to US automakers in early 90s. They slow started and quickly ramped up to defeat them for the top position in terms of sales and consumer confidence.

Why is Brokerage Industry Heading towards Commodity Market

As technology grew further and wider almost all brokerage firms were offering the same high quality tools to everyone. So who is the winner? Now it seems pretty apparent that consumers started switching brokerage firms and went more for cheaper prices than brand loyalty because brand did not matter when all the product offering are all same. In my personal opinion, some of these new brokerage firms such as TradeKing, Zecco are breaking the rules and creating innovative platforms and leaving behind earlier market leaders such as Charles Schwab & Scottrade. The established players started seeing a drop in trading activities as people switched to new entrants. The initial offers were short teasers like open a bank account and get $100 free stock trades or 10 stock trades free every month. However in the latest price wars companies are slashing their prices left right and center.

Which brokerage firms are leading the movement

E-trade was the latest to join the price war by slashing the rates its charges its non frequent customers to $ 9.99 from $ 12.99. The wars began with Charles Schwab reducing its rates to $ 8.99 from $ 12.99 . Fidelity followed soon after by dropping rates to $ 7.95 from $ 8 to $19.99 pricing. This means that companies have reduced their revenues by as much as 30% in last one month. This is also reflective in their share prices. E-trade has dropped 17% and Charles Schwab has dropped 8% in last one month.

What does it mean for investors

This is hence the right time for consumers to look at the brokers which provide cheapest rates and open accounts with them. As we mentioning earlier, since the brokerage industry has become a commodity it does not matter if you open a particular brand. Go for the lowest rates. Tradeking, Zecco or Options House would be our recommendations.

1. OptionsHouse is currently running special ads for 100 Free Trades if you open your account before April 30th. On top of that, they are the cheapest as far as the commission rates go.

Get 100 Free Trades with OptionsHouse.com

2. TradeKing is the top Rated Broker by SmartMoney – 4 years running (2006-2009). It also got 4-Star Rated Broker by Barron’s – 12th Annual Survey of Best Browser-Based Online Brokers. All that is available for low flat fees – $4.95 per trade plus $.65 per options contract

Open an account with Trading King – Tradeking

3. Zecco:Best thing about Zecco is their 10 free trades every month if you make 25 trades in a month. Hence your effective rate actually becomes a lot lower than what they advertise which is 4.5$/trade. Their effective rate comes down to 2.70$ / trade, now who can beat that? See details below:

Trade with Zecco for Free

Someone once asked me this trivia question. Read the question and think for a moment before reading further to get the answer.

Question: What is the best marketing keyword

What is your guess?

The answer is FREE, yes as soon as someone hears the word FREE, suddenly the offer becomes attractive. Today I am going to write about the stunt that OptionsHouse has pulled recently by offering 100 absolutely free trades to its customers. Yes you heard it right, FREE with no obligations. If you do not like OptionsHouse after you have maxed out your first 100 trades, simply move on! From what I hear, OptionsHouse is doing an excellent job at retaining customers also. So chances are you will continue to stick with them. Details of the offer are as below:

Open an account with Options house before April 30th 2010 and get 100 commission free trades. This a perfect account to open if you want to learn the basic techniques on how to trade. This offer is valid for not only buying stocks but also on buying options, mutual funds or IRA accounts. OptionsHouse provides excellent customer service and have the lowest long term rates also.

For example a single trade it costs you $ 4.95 to execute with Tradeking. However if you are trading with OptionsHouse, it only requires $ 2.95 to execute on Options House. Both these rates are much lower than $ 7.95 of Fidelity.com, $8.95 for Charles Schwab and $9.95 for Etrade. Similarly doing 5 contracts cost you just $5 on Options House compared to $ 14.95 on Options Xpress.

So what are you waiting for try out this great new brokerage firm which is revolutionizing the rates in the industry. Till date our customers have not reported any problems to us from the website but if you happen to find any. Please let us know. Leave a comment here so it can help other investors like you. For opening an account with OptionsHouse, please click the following link:

Get 100 Commission-Free Trades at OptionsHouse.com!

Happy weekend everyone!