| What I consider as good brokerage? | | | | market and post market hours which can be |
| Trying to find reliable brokerage can be a | | | | very useful. |
| headache for regular investor. One of my regular | | | | Just2trade has 2 type of platforms (web-based & |
| brokerage I have been using is Just2trade. I have | | | | J2trader). I usually access them through web. |
| been using multiple trading platforms such as | | | | Your computer also needs to support Java |
| Fidelity, Zecco, Vanguard, Lightspeed, and | | | | application hence the trading system is run |
| Just2trade. For me, the brokerage needs to | | | | through Java. It also provides J2trader as trading |
| satisfy the following requirement: | | | | platform. I also like its in-house trading tools like |
| 1. Low commission fees to trade stocks, etf, | | | | Maxit tax software that are available online. Maxit |
| mutual funds (if necessary) | | | | provides access to all tax related issues in trading. |
| 2. Reliable, can be access freely, stable trading | | | | Other features like sales figures, stock alerts, |
| platform | | | | market data and transaction details, options and |
| 3. Offer ACH electronic transfer | | | | mutual fund screeners are available in real-time. It |
| 4. Responsive and contactable customer service | | | | also provides Zacks Screener to screen various |
| How to open Just2trade account? | | | | stocks and mutual funds. I only use just2trade to |
| Opening account is straight forward though it will | | | | trade stock & etf. I never use it to buy mutual |
| be slightly slower than typical brokerage. You can | | | | fund, but I believe it should be very straight |
| either apply online or print out the form and fill | | | | forward as well. |
| them. Previous, I fill the form online and print out | | | | I usually email the customer service if I have any |
| the form. Later, I mailed the form and submitted | | | | issue. The customer service is very responsive. |
| the copy through fax/online as well. My account | | | | Other people have mentioned a non responsive |
| was opened within 1 week after I send my | | | | customer service, though I never have any issue. |
| application. | | | | Issue / Complaints about Just2trade |
| My experience | | | | Couple complaints about Just2trade that I found: |
| I have deal with various discount brokerages. I | | | | 1. On 2007, there is an issue with their previous |
| started investing with Fidelity on 2006, mainly | | | | clearing house, North American Clearing. It has had |
| buying mutual fund. I then tried Zecco due to their | | | | their assets frozen by the SEC pending fraud |
| no commission fees. However due to limit of 10 | | | | investigation and this has resulted in inability to |
| free trades per month & $25,000 limits to get | | | | liquidate the customer asset. This happen for 2 |
| the free trades, I branched out to Just2trade. It | | | | weeks and has been resolved. Current clearing |
| has one of low commission. I started using | | | | house is Legent Clearing. |
| Just2trade on 2009. In comparison with other | | | | 2. Little to No support for beginner or novice |
| brokerage, just2trade offers low commission for | | | | investors |
| trading. It only cost $2.50 for trade. There is no | | | | 3. Incorrect cash balances and other account |
| limit for amount of shares. This means trading 1 | | | | balance discrepancies. |
| share or 10 shares or 1000 shares will cost only | | | | 4. Little choice of mutual funds |
| $2.50/trade. Trading option will cost $2.50+$0.50 | | | | 5. Minimum $2,500 account balance requirement |
| contract. So for 2 contract of options, you will | | | | 6. Too basic trading platform & difficult to |
| pay $3.50 ($2.50+ 2 x $0.50). Margin rates are | | | | navigate |
| also competitive. The current margin rates are as | | | | Awards Just2trade is feature in SmartMoney and |
| follow (per July 30th, 2010). To open an account, | | | | Kiplinger magazine as one of best brokerage with |
| you need to fund of $2,500. | | | | low fees & commissions. |
| The trading platform is very simple and | | | | Disclaimer: I have no affiliation with Just2trade |
| responsive. I can place either a Market order, | | | | other than I use it for trading. Please do your own |
| Limit order, Stop Loss, Stop Limit, Market on | | | | research for additional details. All information is as |
| Close, and Trailing Stop. I also can trade pre | | | | updated as July 31, 2010. Please trade responsibly. |