TradeMonster Reviews

Customer's Rating: brokerage firms reviews

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

TradeMonster is now part of OptionsHouse.

Optionshouse Review »

  • Stocks & ETFs: $4.95
  • Options: $4.95 + $0.50 per contract
  • Mutual Funds: $20

Minimum to open: $0 for a cash account, $0 for an IRA.

Trademonster/OptionsHouse Promotion Offer 2017

Open and fund an OptionsHouse account to receive up to $1,000 worth of commissions on online trades for a full 60 days.

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Best Brokerage For IRA


TradeMonster Customer Reviews

by Shawn, 8/24/2015

Pros: Low cost

Cons: horrible customer service and even worse executio n

I went through them fro the low cost trades and good margin rates. I guess you get what you pay for. I completely do not recommend using them. This year alone I have lost about $15,000 from them not being able to execute an order. I placed a limit order above the current price, then I sat there and watch for minutes on end wondering why the order isn't being executed. The price eventually goes over my limit price. Then I modify to order to well above the current price and the same thing happens.

by Ldog, 2/12/2015

Pros:

Cons:

Good service if you like low fees. That is what I care about most. The trading platform is not very high tech, in fact, it looks like, as of 2015, it was designed by a grade school student, but the prices are good and I get surprisingly good fills on the trades I execute.

by jamesb, 11/29/2013

Pros: easy money movement, good service

Cons:

I use TM. no problem moving money between them and b of a. trades go through fine. all transfers have taken 3 dys in or out. so far so good

by getaclue, 11/29/2013

Pros:

Cons:

You are a typical arrogant consumer who doesn't self educate. First, you should know the day trade rules before beginning. FINRA Rule 2520. Second, you should know the ACAT rules FINRA Rule 11870 and NYSE Rule 412. Brokers cannot over ride. When you initiate ACATS, accounts are frozen on both sides. No trading is allowed. Quit your complaining & get a clue.

by Dan, 11/29/2013

Pros: Intuitive trading platform, low commissions,

Cons: poor customer service, they don't care about customer's money and interests

Intuitive trading platform and decent commissions, but customer service is poor.

TRUE STORY. These people don't care about you or your money. I triggered the day trade rule and decided to transfer the position ACATS to my other broker. I didn't realize they would freeze my trading, completely.

I had a dangerous position on and called telling them this was an EMERGENCY and to please cancel the ACATS transfer and unfreeze my account. The guy in customer service copped an attitude that it was no big deal and he would take his sweet time, even though my account could have been wiped out at any second.

I'll put through a request to the back office, he said. Why don't you call on the phone, I asked. I'll put in the request it's the best I can do, he said. I screamed this was an emergency and I needed help. He laughed.

They fiddled for 3 days with my account frozen. It could have been wiped out at any time and they didn't give a F***.

IF YOU VALUE YOUR MONEY, NEVER, EVER OPEN AN ACCOUNT WITH THESE JERKS. THEY DON'T CARE ABOUT YOU OR YOUR MONEY.

by Michael, 11/29/2013

Pros: good brokerage

Cons: best trading platform

"THE BEST TRADING PLATFORM AROUND I LOVE IT.'

by Tom, 11/29/2013

Pros:

Cons: unhelpful live chat

They go out of their way to be A-holes over the live chat help. You better hope you never need their help with anything because then you will be in deep trouble.

by Tom, 11/29/2013

Pros: cheap

Cons: HORRIBLE and RUDE CUSTOMER SERVICE, they don't care client's interests

Trademonster is cheap but their customer service is HORRIBLE. They are very rude and don't seem to care at all if they're clients are satisfied or not. STAY AWAY!

by edgrrr, 11/29/2013

Pros:

Cons: Bad Margin policy,

Bad Margin policy at TradeMonster. Start at 25,000, make 5,000, lose 5,000 and your available to trade now 20,000 because their margin department only looks at cash opening. At OptionsHouse, same commissions but start at 25,000, make 5,000, lose 5,000 and your available to trade still 25,000

by skinz, 11/29/2013

Pros:

Cons: platform is hard to beat, horrible iPhone app, incompetant staff

In their defense, Their 1099 problems are are not their own fault- it's due to using Penson financial as their clearing house. Got my 1099 from Penson only 12 days before the tax deadline. Unacceptable. For the price, their platform is hard to beat, and I've tried optionshouse, tradeking and Zecco (all of whom use Penson for clearing as well.). Although their iPhone app is horrible and borderline useless. I'm thinking of switching to optionshouse because I do 80% of my trading on a mobile device, and theirs can do spreads. It's Not trademonster's strong suit- they don't even group spreads together on their apps!

by Angered trader, 11/29/2013

Pros:

Cons: the worst customer service, incompetant workers,unsecure company

Absolutely the worst customer service ever....I've been trying to remove my funds for 10 business days. They screwed up following the instructions on my auto trade subscription costing me thousands.. Save yourself time and money and stay away from this brokerage. They're completely incompetent and dumb as shit.

by Gerard, 11/29/2013

Pros:

Cons: Awful customer service, impossible to recover money,delayed 1099s

Please, please don’t put your money there. Awful customer service. When I decided to close my account, I had to “beg” them for 3 weeks to recover my funds. My 1099s were always delayed; I’m still waiting for 2011 form. Currently, since my account is closed they don’t want to give me access to loss/gain reports to prepare my taxes.

by Unhappy, 11/29/2013

Pros:

Cons: impossible to recover funds

Opened an account and deposited funds via ACH. Have not been able to recover funds after 3 weeks, 15 business days. Filing complaint with SEC, SIPC, Comptroller of Currency and Federal Reserve.

by Scott, 11/29/2013

Pros:

Cons: no charting tools and no live tick

looks good at first but there are no charting tools and no live tick so if your a scalper your in trouble and brokers that don't have a live tick even if it is delayed for a demo are a bucket shop!! I was told the only difference for live was it isn't delayed and that means the most important information you need to make a trade is not there! Charting tools were non existent! I had a very bad vibe on this one specially after asking questions in live chat!! FYI there is no reason for delayed charts on a demo, period!!

by RICHARD, 11/22/2011

Pros:

Cons:

I transfered over $20,000 into 3 accounts with trademonster. I talked with customer service mutliple times and was satisfied. However, I cancelled a trade, and it took 2 days to go back into my account. So, I moved my money. Trademonster CHARGED ME $400 to move my money. RIP OFFS.

by Mike, 6/22/2010

Pros:

Cons:

The platform is wicked good - unlike anything I have seen thus far (and I've been trading for many moons). Pricing is more than fair...especially for certain trade setups/strategies.

For a relatively new company, I've been pleasantly surprised by their service and support...it feels like they've been doing this for decades (they probably have - I think there are some veterans behind this company from what I've read/researched/heard).

by Derivative Master, 5/2/2010

Pros:

Cons:

Love the paper trading with options that they have on their platform. Hard to find a good one of those, entering multi-leg orders is easy and the P&L diagrams are very helpful.

by Brokerage-Review.com, 4/20/2010

Pros: No-fee IRAs. No inactivity or account maintenance fees.

Cons: Additional 1.5 cents per share for extended hours trades.

tradeMONSTER offers excellent trading tools and a great price for investing in mutual funds -- $15 to buy and free to sell. Barron’s rated tradeMONSTER 4.5 stars (out of 5) on their Trading Platform, Usability, Research and Educational Resources, Portfolio Analysis and Reporting Tools.

One of tradeMONSTER's coolest features is the ability to practice trading stocks or options with paper (virtual) money, using all of the tools available. Another interesting feature is Exit Plan, where users create exit strategies for your trades by focusing on profit targets and by monitoring your stop-loss and exit points.

tradeMONSTER is a great choice for people investing in mutual funds or for beginning investors. Since there are no IRA and inactivity fees, tradeMONSTER also is one of the best IRA brokerage firms.

by Csquared Trading, 4/19/2010

Pros:

Cons:

Guys,

I used trademonster for 6 months and the best part about them was that I haggled them down to $5 per trade, and with the service that I had from them, this was an unbeatable fee. However my partner did once manage to get 500 free trades from Ameritrade and $5 on each side for those trades as well. Trademonster has a really cool platform, way better than etrades website etc. Trademonster had a few down sides. One of them was the fills that I was receiving. I would get bad fills on my trades, not so fun. The customer service was fine, Katie was the best one to talk to while I traded with them. Hope this helped, overall a fine experience.

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TradeMonster Customer reviewed by TopRatedFirms.com users. 19 customer reviews. Rating: 3.