TradeMonster Review

by David Ning · 8 comments

TradeMonster is another player in the already very crowded online broker industry. Launched in October 2008 (I know, the best timing ever), this stock broker hopes to capture traders with a more intuitive trading platform that just makes sense. There are some TradeMonster promotion codes floating out there but is it worth our time otherwise? Let’s find out in this review.

Click Here to Open a TradeMonster Account Now

TradeMonster Pricing

trademonster pricing
TradeMonster
offers stock trades at $7.50 per transaction for anything up to 5,000 shares. Not too shabby when you compare it to the bigger players in the industry but not the cheapest either. Options pricing are $0.50 per contract, with a minimum of $12.50 so again, middle of the pack.

The Award Winning Platform

Other brokers offer something similar via it’s downloadable applications but what TradeMonster promises is no software downloads while having the same flexibility as the higher end trading platforms. Instead of clicking refresh constantly for news and price data, everything streams onto the screen.

Another great benefit is the fact that the whole screen is customizable, so if you want to see your order status on the same screen, it’s easily done. Want live news? You can do that too.

So what’s wrong with the downloadable app in the first place? “It ties traders into just one computer”, says TradeMonster. With the platform integrated as a web application, traders can log in from any computer, through any browser and have all settings saved the way they like it. Personally, I don’t really see this as a problem unless someone has multiple computers, or if they want to trade while visiting without bringing their laptop. Nonetheless, it never hurts to have that flexibility.

TradeMonster Promotion Code

Click Here to Open a TradeMonster Account Now

Resources:

About TradeMonster

TradeMonster is part of optionsMonster Holding Inc. and co-founded by Jon Najarian, Pete Najarian, and Dirk Mueller. The Najarian brothers should be familiar to you as they are regular contributors of CNBC with Pete being on Fast Money all the time. In 2007, they decided to build a platform to start TradeMonster and they launched in October 2008 despite all the troubles within the financial industry.

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{ read the comments below or add one }

  • studboro says:

    I opened 3 accounts with Trademonster, because I had talked mulitiple times with customer service, and was impressed. I cancelled a trade, and it took 2 days for the money to be back in my account. So, I moved to another broker. Trademonster CHARGED me $400 to do the transfer. RIP OFF ARTISTS.

  • Justin says:

    I don’t think there is a better broker for options right now than trademonster. They really do have the best interface out there. Their only real competitor here is optionshouse, which is a little cheaper on commissions, but that’s only if you frequently make trades involving 30+ contracts. However if you’re usually trading less than 25 contracts, then you’re only paying a little more per trade with trademonster, and you’re trading on a far superior platform.

  • Adam says:

    Trademonster is one of the best unknown brokers out there. Hopefully more people will be covering it so they can make more money and use the funds to improve the already great services. I highly recommend them.

  • Jason says:

    Thanks to the celebrity status of the founders, optionsmonster, and thus trademonster, is quickly becoming a force in the industry. I have an account and have been quite impressed so far.

  • Crystal says:

    $7.50 is only okay but I really like the $0.50 per contract deal. As a options trader, it is much cheaper than others who charge a flat fee plus a price per contract. I know, it’s only $5 or whatever, but why pay when you don’t have to?

    On another note, Pete Najarian is so cute but Jon looks more like he knows what he’s doing.

  • Leslie Anderson says:

    The streaming part of the platform is REALLY useful. I can’t believe what I was missing as I can just sit there and not have to go “fetch” news and/or prices since they just pop up in front of my screen. After I switched over, I have more time to do what’s more important, research on my trades.

    5 out of 5 stars is my opinion.

  • Mercy says:

    Options Monster is everywhere and they are good so I assume Trade Monster is on par. I like Pete Najarian so I will check it out. I also heard that Guy Adami (the other guy from Fast Money) is joining the team so it will be interesting to see what enhancements they come up with.

  • Jerry says:

    Never heard of trademonster but I’ve seen the Najarian boys. I still remember one time that Suze Orman came on the Fast Money show and couldn’t take her hands off Pete. It was really funny.

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