Just2Trade is a division of WhoTrades, Inc. It is designed with the serious investor in mind. The Company manages every step of the trading process to ensure smooth, high-quality service and exceptional order executions. It is committed to bridging the gap between Wall Street and independent investors. Founded in 2010, WhoTrades is an online brokerage firm supporting traders across the globe with personal finance technology to connect and share information while controlling their trading securely from a simple user interface. For the more advanced trader, WhoTrades offers a fully-featured DMA platform designed for professionals who work with rapidly moving electronic markets.
thumb_up
The Good
- Competitive prices
- Business options
- Transaction security
- Applicable forms
- Advanced capabilities
The Company has much lower broker commission rates for trading stocks and mutual funds than its competitors. Compared to large brokerage companies, such as ETrade, Fidelity, Charles Schwab, and TD Ameritrade, Just2trade's fees is a fraction of the amounts charged by the larger companies. In addition to the low fees, the Company manages the entire automated trading process from beginning to end without involving third-party service providers, which can cause result in higher fees. From the login and initial interface to the data exchange and real-time risk management process, and ending with the order routing and execution, Just2trade has mastered and simplified the trading process for its customers. Other benefits of the service include:
Competitive Prices
Rated by several reliable publication sources, such as Kiplinger's Personal Finance, Barron's, and Smart Money, the Company's trading offerings and pricing have proven to be very competitive in the brokerage industry. The Company also appears to have great customer service resources available, such as via phone, e-mail and live chat for instant responsiveness. Various account types are also available, from individual and joint ownership accounts to retirement and educational accounts.
Business Options
Accounts for businesses are also available to appeal to all possible customer types. The possibility of investing through retirement accounts and educational accounts is particularly notable as the Company appears to be targeting all demographics in its customer base. The target audience also appears to be tech savvy investors (for both PC and Mac users alike) as every aspect of the process is automated and online.
Transaction Security
The Company also provides for account protection for its customers. In addition to SIPC coverage of $500,000 ($250,000 max in cash), Just2Trade accounts are protected with additional coverage of $100 million through Lloyd's of London. This coverage offers a maximum of $24.5 million per client and up to $900,000 in cash. With SIPC and Lloyd's of London coverage, customers can feel protected: up to $25 million per client (as defined by SIPC rules), which includes up to $1.15 million for cash balances.
Applicable Forms
The Company has a vast inventory of applicable forms, not only relating to its various investment options, but also for tax and other regulatory filings that are required from active traders. 1099 reporting, in particular, is fully supported by the Company electronically through each member's account. A large variety of bank transfer options is available for depositing funds for trade and for withdrawing proceeds from affected transactions.
Advanced Capabilities
The platform includes advanced order routing management and real-time profit/loss capabilities, making it particularly suitable for trading groups. WhoTrades, Inc. is a New York-based registered broker/dealer with the Securities and Exchange Commission (SEC), is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investors Protection Corporation (SIPC).
thumb_down
The Bad
The company's goal is to provide customers with the technology, tools, and support they need to effectively manage their investments with a professional all-in-one trading platform designed for speed and ease of use, free access to high-performance trading tools, and unparalleled customer service. Although, the Company has created a fantastic platform, the use of its tools is not yet available via handheld devices. Other limitations include:
Financial Advisors
A negative aspect of the Company's services is the lack of availability of professional financial advisers. Providing access to such valuable resources diminishes the integrity of the services provided by the Company especially in instances when those professional resources could be needed the most.