This broker specializes in options, just like the names says. It is a discount broker that has low rates and that I would like to recommend to options traders. Rates for stocks start at a flat rate of $4.75 and option trades starting at $5 per contract. And broker assisted trades have no additional fee. And without any maintenance fees, volume requirements, monthly minimums or connection charges it all seems like a very low priced high quality brokerage.
They offer both a web and mobile platform to trade from, like virtually all brokers. The mobile version of their sites and the apps, available for iOS and Android are great. But both the web and mobile platforms are a little minimal. The free streaming quotes are a nice feature and are part of both their web and mobile platform. And virtual trading is completely free. The charting, research and analysis sections of the site are also minimal, but add just enough content to get a basic view and insight of companies you want to trade.
The mobile apps are very usable and have specific features target at options traders, like the ability to trade stocks, options, and spreads directly from the options chain. Having streaming charts, desktop synchronization, to easily place trades, and monitor portfolio and watchlist performance right from your mobile device is great. For me it features everything I would want in my mobile apps. I especially like to large charts that you get on the tablet versions of these apps.
The do deliver some educational content and as you expect it is all focused on options trading. Definitely a valuable resource if you want to educate yourself or if you want to refresh your memory on the intricate
Their very low pricing makes them very attractive to beginning traders. At a $4.75 flat rate per stock trade, $5 option trades (up to 5 contracts) or $8.50 + $0.15 per contract it really is a bargain to trade with them.
They don’t have the most elaborate systems or the most features, but for people who know what they want (check if the trades you want to make are available) and for beginner traders it is a great broker.
All in all recommended if you know what you are getting yourself into. Low cost options specialist, but minimal products to trade.
More related AlphaJudge reviews:
- Low fees and commissions
- Great interface on both web and mobile
- Not many investment products available
- Minimal trading platform