trade MONSTER Offers Investors Great Trading Experience
trade MONSTER is an online discount broker that gives investors another choice when it comes low cost stocks and options trading.
I first noticed trade MONSTER when I compiled the list of discount brokers with the lowest commissions for stock and options trading online. From that list, as you can see , trade MONSTER doesn’t seem to be very competitive in terms of trading costs because there are plenty of other brokers charge less than what trade Monster does. Currently, the broker charges $7.50 per online stock order regardless the number of share, plus $0.50 per contract for options trading. The commissions are actually quite high if you compare trade Monster against other brokers, such as Scottrade, Zecco, TradeKing, and OptionsHouse. So what makes trade MONSTER stand out from the crowd?
It is trade Monster’s options trading.
Early this year, Barron’s published its annual survey of online brokers and for a second year in a row, trade Monster was named the “Best for Options Traders” by Barron’s. In the report, Barron’s praised trade MONSTER, a broker that was launched only in October 2008, for offering traders “dazzling array of tools” that are readily accessible to all investors and a “very easy-to-use website” that make investors’ experience with the broker a pleasant one. Barron’s also noticed that trade MONSTER, at that time, was the first in the industry to allow its customers to customize their trading interfaces (Now OptionsXpress also has a customizable interface).
Another feature that separated trade MONSTER from others is its real-time streaming quote for investors, the first such offer in the industry. For those brokers I am using, none of them has streaming quotes in real time on their web based trading platform. Even though the quotes are real time, I can only get a single quote at a time when I request it. The only exception is Scottrade, which offers streaming real time quote in ScottradeELITE, its PC based, stand alone trading platform. At this time, as far as I know, OptionsHouse also has real time streaming quote function in its online trading platform.
In addition, trade MONSTER also received high ratings in the following areas:
- Trade Experience – 4.7 Stars
- Portfolio Analysis & Reports – 4.7 Stars
- Customer Service and Education – 4.5 Stars
- Research Amenities – 4.5 Stars
- Usability – 4.4 Stars
Overall, Barron’s has put trade MONSTER at the same level as more established brokers in the industry, such as TD Ameritrade, Charles Schwab, Muriel Siebert and Scottrade.
Receiving such recognitions in such a short period of time is truly remarkable, I guess that’s what makes trade MONSTER different from others.
I haven’t used trade MONSTER yet as I already have enough brokerage accounts for me to play with, so I can’t tell what distinctive features trade MONSTER has. If it is indeed a standout from the crowd, I think I may give it try as well, even though I probably won’t use it to trade regularly.
Are you using trade MONSTER? If so, what’s your overall experience?
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