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TradeMonster Review

Editor’s Note: This product has been removed from our side-by-side comparison because it is no longer available.

Our Verdict

TradeMonster offers the most-popular investment options and trades with low commissions and fees, making it one of the best choices for online stock trading.

For

  • This service's commissions and fees are some of the lowest on the market.

Against

  • This service does not offer forex or international-stocks trades.
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TradeMonster image: You can customize the platform and change the windows you view.

TradeMonster image: You can customize the platform and change the windows you view.
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TradeMonster image: For options trading, you can choose from preprogrammed strategies.

TradeMonster image: For options trading, you can choose from preprogrammed strategies.
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TradeMonster image: You can create watch lists and set alerts.

TradeMonster image: You can create watch lists and set alerts.
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TradeMonster image: Option chains show information for both calls and puts.

TradeMonster image: Option chains show information for both calls and puts.
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TradeMonster image: The order box pops up in a new window so you can easily order your trade without leaving your current window.

TradeMonster image: The order box pops up in a new window so you can easily order your trade without leaving your current window.
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TradeMonster image: The forecast tool estimates the performance of a stock.

TradeMonster image: The forecast tool estimates the performance of a stock.
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TradeMonster image: The volatility report shows the history of a stock and speculates how it will perform in the future.

TradeMonster image: The volatility report shows the history of a stock and speculates how it will perform in the future.
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TradeMonster image: A stock snapshot provides quick information about a stock, including risk.

TradeMonster image: A stock snapshot provides quick information about a stock, including risk.
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TradeMonster image: You can receive stock information, including quotes, news and performance history.

TradeMonster image: You can receive stock information, including quotes, news and performance history.
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TradeMonster image: The website includes educational information about topics such as the platform, investments and trading tips.

TradeMonster image: The website includes educational information about topics such as the platform, investments and trading tips.
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TradeMonster image: OptionMonster is an affiliate site that focuses on options to teach you how to understand, research and trade options.

TradeMonster image: OptionMonster is an affiliate site that focuses on options to teach you how to understand, research and trade options.
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TradeMonster image: The mobile app provides the same functionality as the online platform.

TradeMonster image: The mobile app provides the same functionality as the online platform.
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TradeMonster image: There is an app for your iPad.

TradeMonster image: There is an app for your iPad.

Editor’s Note: This product has been removed from our side-by-side comparison because it is no longer available. You can still read our original review below, but Top Ten Reviews is no longer updating this product’s information.

TradeMonster is a leader in online stock trading brokers and is one of the least-expensive online stock brokers, making it an immediately attractive service. But it also offers a range of investment options and a customizable trading platform, complete with tools to help you monitor your investments, decide when and what to trade, and keep track of the changing marketplace. There's also mobile access with apps that let you manage your account and order trades when you're away from your computer.

This online broker offers some of the lowest commission fees of any service we reviewed, making it stand out among its competitors and allowing you to spend more on your investments than fees. Stock trades are a set $4.95 per trade, which is one of the least expensive of any service in the industry. Trading options is also $4.95 with a per-contract fee that decreases the more you trade. Trading between one and 10,000 option contracts costs $0.50 per contract with a minimum of $12.50, and the price continues to decrease until you reach 100,000 contracts, at which point, contacts are only $0.10 apiece.

To exercise or assign a contract is $4.95, which is significantly lower than the majority of services we reviewed. If you require any assistance ordering a trade, the $15 broker-assisted trade fee is lower than that which most services charge.

If you're interested in a margin account, you must maintain a $2,000 balance, and the larger the amount in the account, the lower your interest rate will be. TradeMonster bases its interest rates on the federal fund rate, which is subject change at any time. If your margin account has up to $25,000, the interest rate is 6.25% added to current the federal rate. For accounts with balances over one million dollars, the rate drops to 2.75% on top of the federal rate. At current rates, TradeMonster's rates are higher than some other services.

If you are an active trader, an easy-to-use and streamlined trading platform is vital. The TradeMonster platform can perform all basic trade functions and is customizable, allowing you to collapse or expand gadgets in the sidebars; you can even hide the sidebars entirely. You can set up watch lists, alerts and option chains as well as view live, streaming quotes. The technical analysis tool displays patterns and performs technical scans. You can add volatility metrics to charts to analyze specific stocks and keep track of their history. The reach lab marks bullish and bearish events as well as unusual activity. Other tools display option strategy, what-if analysis, group-order management, performance tracking and more. You can view video tutorials of all of the tools online to understand how to best utilize them.

This service offers the most-popular investments for online trading. In addition to stocks and options, you can also trade ETFs, bonds and mutual funds. This service offers futures trading, but it does not offer trades in international stock markets for forex. You can choose from a few different IRAs for yourself, family members or a company. You can also set up a corporate account or accounts for an investment club, partnership or LLC.

TradeMonster is a discount broker with a lot to offer. Its commission prices and fees are lower than most of its competitors, including trades, options exercises and assignments, and broker-assisted fees. You can open accounts for the most-popular investments as well as trade stocks, options, ETFs and bonds, among other choices; however, it does not provide access to international stock markets or forex trading. The platform comes with an arsenal of useful tools, and the website has a library of helpful educational resources. With so much to offer, this is one of the best online broker choices.