Just2Trade Review
- Choices of trading accounts
- Low commissions
- Simple user friendly trading platforms
- Wide range of instruments
- Additional fee of $0.003 per share for trading during extended hours
- Excessive incidental fees
- High minimum account balance
Acquired recently by Whotrades Inc, Just2Trade is a discount broker that is based in New York. The brokerage firm is well known among online traders as a broker that offers one of the lowest commission rates. At Just2Trade, you can make a trade by paying a commission rate of as low as $2.50. Apart from the low commission rates charged by Just2Trade, the broker also offers active traders a selection of advanced trading platforms which they can use to access the financial markets. There is also a wide selection of trading accounts which you can select from to suit your particular trading needs.
Trading Platforms
In terms of trading platforms, you have a choice of 5 different types of trading platforms to choose from. They consist of the following:
- Just2rade +
- Just2Trade Lite
- Just2Trade Pro
- MetaTrader 5
- Mobile Apps
Just2Trade + Platform
This Just2Trade platform is a web based trading platform. Its features include live streaming of price data, detailed info about the stocks available for purchase and a highly customizable interface. You can also make relay time analysis of the markets with this platform.
Just2Trade Lite Platform
The Just2Trade Lite is also a web based trading platform. It lets you access the U.S financial markets with any web browser. Unlike the Just2Trade +, the Just2Trade Lite platform is designed to suit traders who are more into technical analysis.
Just2Trade Pro Platform
Designed for experienced traders, the Just2Trade Pro platform features more advanced trading features such as multiple order types and market depth. It also comes with the ability to support real time pricing and have technical indicators built into the platform.
MetaTrader 5 Platform
The MetaTrader 5 platform is an updated version of the popular MT4 platform. As with is predecessor, the MT5 platform comes with an advanced charting package and numerous other advanced trading tools. It also features the ability to support Algorithmic trading
Mobile Apps
Last but not least, Just2Trade has also its clients with a mobile trader which they can all download and installed onto their iOS of Android powered devices. With the app, you can monitor your account status and make trades directly from your smartphones.
Trading Markets
In terms of the markets covered by Just2Trade, you can trade in various types of financial instruments such as American Depositary Receipts (ADRs), ETFs, Futures, Mutual Funds, Options, OTC Securities and Stocks.
The brokerage fees for trading these instruments are based on 2 plans, “Per-Trade Plan” and “Per-Share Plan”.
Per-Trade Plan
Under this plan, the trading fees start from as low as $2.50 for stocks, Futures and ADRs. With OTC securities and Exchange listed that are below $1.00, the applicable fees are $2.50 + $0.003 per share for entire order. For options, the fees are $2.50 + $0.50 per contact. For international stocks, the applicable fees are $2.50 plus $75 foreign stock transaction fee. With mutual funds, the fee is $12.50. For trades that are made with the assistance of the broker, there is an additional fee of $20. Under this plan, the minimum fee and maximum fee per order is $2.50 and $5.50. It should be noted that you are required to maintain a minimum trading balance of $2500. Once your balance falls below $2000, your account will be suspended from trading.
Per-Share Plan
If you are a high volume trader, then Per-Share plan would be more suited for your trading activities. For stocks, the fee starts from as low as $0.001 per share. For options, the fee is as low as $0.35 per contract.
Stocks Fees:
- Minimum of $0.50 per ticket
- Monthly volume less than 999,999 shares = $0.0025
- Monthly volume of 1 million to 5 million shares = $0.0015
- Monthly volume exceeding 5 million shares = $0.0001
Options Fees:
- Minimum of $1.00 per ticket
- Monthly volume less than 100,000 contracts = $0.75
- Monthly volume between 100,001 and 200,000 contracts = $0.50
- Monthly volume greater than 200,001 contracts = $0.35
The minimum balance for an account under this plan is $25,000. It should be noted that the minimum fee per month under the Per=Share plan is $333. Should the total commission charged falls under this amount, Just2Trade will deduct the difference from your account balance.
Support
Just2Trade offers support through a comprehensive FAQ and through email, live chat or the telephone as well. For more information about their services, you can email them at [email protected] or call them at the following numbers:
- +1 (855) 274-4934 (Toll free)
- +1 (646) 558-3232 (Domestic & International)
You can also fax your queries to this number +1 (646) 381-3624.
Security and Fairness
As a financial services provider operating in the U.S, Just2Trade comes under one of the most regulated sectors in the U.S economy. The broker operates under strict regulatory requirements and is a member of FINRA & SIPC, NFA.
Screenshot
