PlaceTrade Review

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PlaceTrade customer reviews: complaints, feedback from clients, pros and cons. Is the broker good and safe?


  • Minimum to open: $5,000 is a minimum to open an account for traders aged 26+, and $3,000 is minimum for IRA accounts and traders between the ages of 21-25.

PlaceTrade Commissions/Fees

  • Stocks, ETFs: $0.01 per share, $1.50 minimum + exchange fees
  • Options: $0.75 per contract, $1.50 minimum + exchange fees
  • Mutual Funds:$19.95
  • Bonds <= $10,000 Face value:0.15% trade value, $5 minimum
  • Bonds > $10,000 Face value: 0.0375% trade value, $5 minimum



About PlaceTrade Online Brokerage Account

Place Trade is a global full service, discount brokerage firm offering both online trading and trustworthy financial guidance. Investing through our firm allows you to trade in your choice of over 100 market centers, 19+ countries, 17 currencies, 12 languages and a wide range of investment securities all through one account. Our unique structure allows us to offer clients as much or as little assistance as is desired.

In 2015, Barron's Magazine awarded PlaceTrade 4.5-star (out of 5) rating in their annual report of the Barron's Best Online Brokers In addition to receiving high marks from Barron's in: Trading experience & Tech, Portfolio analysis & Reports, Customer service & Education, Usability & Low cost. Placetrade did not participate in the survey in 2016.

 

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Placetrade Reviews

by Jean Marie Sardlis, 5/18/2017

Pros: Free consult with CEO on retirement

Cons: Oh my gosh none... I felt like I was finally being understood.

I got an 60 minute consultation with the CEO for my birthday as a gift from my best friend. We worked on My retirement options and made a new plan for me to work with monthly! Very happy with the time spent and think I may be able to retire at 64 by sticking to our plan. What a relief.

by Kenneth Chalet, 2/13/2017

Pros: Very Personal to work with

Cons:

I was very impressed when contacting Place Trade how quickly I was helped by a person not a phone robot. How refreshing that my new online trading company actually has humans working there! The fees are spot on and I am very happy to have found this firm.

by Danny, 7/10/2010

Pros:

Cons:

No setup fees or maintenance fees for IRAs, although there is a termination fee.



Leading U.S. Brokerage Review Websites About PlaceTrade


"For a transaction of 1,000 shares, PlaceTrade will charge you $10.00. Depending on the share volume you plan to trade per transaction, it may be better to go with a flat fee brokerage. PlaceTrade structures its options trading with a base fee that is charged in conjunction with a fee per options contract. The base trade fee is $1.50, which is fairly low compared to other online brokers, and the fee charged per contract is $0.75."

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Placetrade reviewed by former and current clients. Placetrade reviews: 3. Rating: 4.