You are an active trader, and you are in need of a brokerage that offers a wide range of platform choices while keeping user fees low.
If this is the case, then look no further than Tradier brokerage.
While Tradier is a relatively new financial technology and brokerage service, this company offers trusted values that active traders can get behind, including providing low-cost but high-value services, easy to use interfaces, and the promise to always “do right” by their users.
In today’s article, I am going to give you my full review of the Tradier brokerage service, how it compares to other stock market websites you can trade on, and why you should be considering Tradier as your next investment firm.
What is Tradier Brokerage?
Tradier first became available to the public in 2012, and has been developing and building upon their interface ever since. The results? An easy to use, wide reaching investment firm that values its users.
Tradier is a new kind of trading experience. Insead of giving users a single platform, members get to pick from an array of trading interfaces from third party providers.
The Tradier brokerage service allows for the trading of assets such as stocks, bonds, options, and Exchange Traded Funds (EFTs).
This brokerage believes in the concept of “trading on your own terms”, and thus Tradier has partnered with many different trading platforms to give you, the user, endless options when it comes to your trading experience.
This is ideal for self-directed traders who want to customize their trading based on their individual needs.
As well, this list of third party trading platforms continues to expand to give you ample choice for who you trade with. Already, Tradier includes one of the largest lists of third party trading platforms I have seen to date (more than 60 platforms, to be specific).
Trades happen quickly and efficiently because Tradier brokerage uses Application Programming Interface (API) between its platforms. This advanced technology sets Tradier apart from other brokerages, and allows you to get real time data and pricing.
As well, despite being a fast paced, user-friendly online interface, Tradier also values the human touch when it comes to their support services. Tradier brokerage service boasts strong customer support services from professional and knowledgeable employees.
How to Set Up An Account with Tradier?
There are a few requirements to join Tradier. First, you must be a US citizen or US Permanent resident, although they may allow expectations to this on a case by case basis if you inquire.
When you decide to open an account with Tradier, you will be prompted to pick between two pricing options.
The first is their Equity and Option account, which offers the trader with no fees or 0$ per order and $0.35 per contract.
With this fee schedule, you do not have to pay any ticket charge or adhere to any ticket minimum, and you are given complex or simple option orders.
The other fee schedule offered by Tradier is generally more attractive to high activity traders who prefer a monthly subscription fee. For only $10 per month, traders who take on this subscription fee benefit from commission free equity trading and commission free option trading.
Tradier brokerage service also offers a margin trading option that may be particularly attractive to low level borrowers or traders using less margin; Tradier allows for margin trading with a margin interest of 5.25%, and that is a consistent percent, regardless of how much margin you use.
Opening an entity account or an international account is subject to additional fees. However, there is no minimum account balance you need to maintain.
Finally, members of Tradier brokerage service can also use a mobile app for their trading. However, the mobile app is hosted by Tradehawk, which offers a more streamlined and simplistic trading experience, in comparison to Tradier’s nuanced platform.
How Does Traider Compare to Other Top Brokerage Sites?
The Tradier brokerage service is competitive with other leading brokerage sites, and here is why:
Investors can use multiple platforms. This is Tradier’s more unique and appealing feature for investors considering switching over to Tradier. More advanced traders who want a customizable and open interface will be drawn to this API-integrated technology.
Only a few other online brokerages offer this feature (more keep you in pre-set interfaces), and even then they are designed for more beginner users, with less advanced options than Tradier.
Trade Commission Free. Tradier’s subscription service, that gives traders a commission free equity and option trading, is one of a kind. This will save money for traders who are very active, as you don’t have to pay commission on each trade you make.
Take Control with the Sandbox Feature. In the spirit of total customization, experienced traders will be drawn to Tradier’s Sandbox feature, which uniquely allows users to build their own applications with no risk to the individual. Use your paper trading account, market data, and tech knowledge to build your own interface to suit your needs. Better yet, sign up is free.
Is Tradier Safe?
Yes, Tradier is safe and follows standards and government imposed regulations to insure and protect its users.
Tradier uses the Securities Investor Protection Corporation (SIPC) to ensure all of its members with $500,000 worth of insurance protection.
Tradier is also registered with the United States of America Securities and Exchange Commission.
Keep in mind that with all brokerage firms, there comes an inherent risk. Protection and insurance does not secure you against market loss or market decline.
Tradier: The Bottom Line
| Pros | Cons |
|---|---|
| • Low or free user and commission fees | • Wide option interface can be confusing or overwhelming for beginner traders |
| • Advanced technology to give member’s access to a large number of third party platforms | |
| • Customizable trader experience | |
| • Excellent customer support |
Overall, Tradier comes highly recommended for individuals who are experienced and active in trading, and are looking for an intelligent, customizable interface to suit their unique needs, while keeping fees low.
