Learning from other traders, especially the highly experienced ones, is the best way to improve your trading skills. By learning from other people’s experiences, you can save time and money as well as acquiring new experiences yourself. So, where can you find these experienced traders? Trading chat rooms! They deliver an exceptional opportunity to learn new techniques and even acquire some practical information for successful trades. However, finding a credible trading chat room might be difficult, especially for beginners.

Continue reading to find all the necessary information about trading chat rooms to help you with selecting the right one for your requirements and preferences. 

Trading Chatrooms Intro

What is a Trading Chat Room?

A trading chat room is an online platform that provides the opportunity for all traders from all around the globe to discuss and share their trading activities. Also, it offers spaces where traders can ask questions, learn new strategies, and develop a trading style.

Moreover, every trading chat room has a bunch of moderators who supervise the chat program and keep it free from malcontents.

Most services charge a fee, and the chat style and price structure vary between the different chat rooms. So, it is essential to know which trading type you want to do before you sign up for any trading chat room.

Even though signing up to a trading chat room is a great opportunity to enhance your trading skills and styles, there are some precautions you need to consider as well.

Pros

  • Support community: Trading chat rooms are a great place to share stories and support each other during the down moments. After all, everybody makes mistakes! 
  • A Better view on the trading market: With a lot of people watching individual stocks and relaying information, you will have the opportunity to watch every corner of the market and have a better idea about the different offers from different perspectives.
  • Learning opportunities: Expert traders are always willing to share their past experiences, ups and downs, and trading tweaks to help the traders, especially the beginners, learn the ins and outs of the trading market.

Cons

  • Membership fees: These fees help with keeping the chat rooms free from scammers and malicious users. Besides, as a general rule, don’t expect anything good from free services!
  • Bad ideas spread quickly: Even though the moderators are always trying hard to control the chat system and eliminate false information, bad ideas can still leak out and spread quickly as well. So, make sure to make a fact-checking for suspicious data. You have a report option too.   

What to Look for?

The best trading chat rooms on the market all have a few typical specifications and characteristics. There are some standards you need to follow before signing up in a trading chat room. Here is what you should look for:

  • Efficient moderators who eradicate trolls
  • Fair price for the provided service and experience
  • Respect and civic engagement for different perspectives

Top 7 Trading Chat Rooms

1. Warrior Trading

Warrior Trading has one of the best chat rooms on the trading market, with more than 500,000 active members. It acts as a web conferencing platform in which the moderators and the various members (from beginners to experts) share their valuable information about the daily stock picks and trading opportunities. Besides, you will get access to free educational materials and services at an affordable price.

Moreover, the WT chat room is very suitable for day traders where they get daily watchlists, streaming stock screeners and valuable commentary from the platform’s top investors.

As for the service pricing, there are various packages: Month-to-month service for $197/month, Quarterly service for $149/month, and Annual service for $99/month.

The Warrior Trading chat rooms provide the members with the opportunity to explore the trades of the best investors and the most effective trading strategies, which, combined with the affordable price, makes this platform one of the greatest on the market.

2. Investors Underground

Investors Underground provides its members with multiple chat rooms and a massive library of tools to help them with the trading business, especially for day trading. Also, if you are a novice trader who wants to dig deeper into the business and learn the various aspects of trading, you will get access to a series of helpful free videos that cover the trading basics and strategies to become a successful trader.

When it comes to the membership plan, there are two groups: 

  • Investors Standard plan for $197/ month
  • Investors Elite plan for $297/month

Both of these membership plans offer access to 3 chat rooms. Each one of these chat rooms is dedicated to a specific trading plan. Also, as an IU member, you will get webinars, a mentorship program with expert traders, and daily watchlists. When enrolling to the Elite membership plan, you will get access to a library of educational materials as well as weekly videos reviewing the various trading setups and decisions. 

Trading Chatrooms Investors Underground

3. StockTwits

StockTwits is a messaging platform where traders can share ideas and tips on general stock market news or specific securities.  Its layout is similar to the Twitter feed where you can jump between the different conversations and post short comments, videos, links, and GIFs.

StockTwits is completely free. You can sign up with your email address. Besides, you can pick the stocks you are interested in and put them into watchlists. After creating up your account, you can start scrolling between the different conversations and get more information from other users using hashtags (it imitates the whole Twitter experience, which makes it very easy to use).

However, as mentioned before, don’t put high hopes on free services! You can find a lot of trolls and scammers in StockTwits. Make sure to make a fact-checking more often. But still, it is one of the best platforms to start with the trading business. You will get a lot of useful information, and there are various users with different level of experiences sharing their thoughts and tips about trading.

4. Hashtag Investing

Hashtag Investing started as a chat group that used the Slack chat application, but it is now re-launching a new tool for forum posting, real-time chat discussions, easy filtering, poll creation, and searchable content. Besides, users can follow other investors, send direct messages, and create group chats. 

Furthermore, there are various stock investors in Hashtag Investing with different perspectives and experiences, which makes it a diverse platform that provides its users with a full view of different strategies, ideas, and news.

It is totally free to join this platform. Also, there is a mandatory application form for new members to filter out spam and scammers. Once you are a member of Hashtag Investing, you can find great promo codes of additional beneficial services as well as other valuable trading information from different users.

5. Jason Bond Chat Rooms

Jason Bond has an excellent stock picking service “Jason Bond’s Picks” which made him a prevalent stock trader and he has been featured in Huffington Post, Forbes, MSN, and The Street. Also, he provides the greatest chat rooms on the market through his Millionaire Roadmap program.

This program is a personalized trading mentorship, where you can find Bond as well as three other trading experts teach, discuss, and even arrange meetings with the members (the meetups are restricted to members living in New York, Boston, Las Vegas, and Dallas). Besides, when enrolling to the Millionaire Roadmap program, you will get DVD training materials, daily text, and email alerts.

One of the program’s key points is the live screenshots where members can see exactly how trades are planned and performed. These features come with a high price (at least for most novice traders). The Millionaire Roadmap program costs roughly $8,000 per year.  

Trading Chat rooms Jason Bond

6. ClayTrader

ClayTrader is a chat room service specially dedicated to technical traders and a day trading educational platform. It has various training programs in different areas with some free courses for new traders. In addition, ClayTrader offers a newsletter with daily scans and watchlists, live chat room with stock alerts, and a network to get in touch with the other investors with different level of experience.

When it comes to the service price, ClayTrader offers high content and service with a very low cost compared to any other platform. For only $99/year, you will get access to all the features of the Inner Circle subscription plan.

7. Trade Ideas Live Trading Room

Trade Ideas is one of the best scanning tools on the market. This platform is equipped with the latest technologies to help the traders get access to a lot more trading opportunities that any person can do alone. It is an interactive service using a computer AI “Holly” to find and execute trades.

Trade Ideas offers two subscription plans: premium and standard. The AI-generated trading strategies are only accessible via the premium plan. But still, the live trading chat room is free, and you will get a lot of useful content from various active users.

Verdict

Even though there are various trading chat rooms on the market, there is no one-size-fits-all package. However, you can gain the right trading experience and become a better trader in any of the chat rooms mentioned above. It is all about finding: the right chat room that aligns with your investment goal, the correct service that fits your style of trading, and a fair price for your needs.  

In this quick Motley Fool overview, we will describe this outstanding Stock Advisor (SA) service in great detail.


Is Motley Fool really worth the money? What are the features that I should focus on? Will the service help me bring better financial decisions? These are some key questions that you may have, and with good reason. But, don’t worry, we will address all of them in the lines below and we will try to be as objective as possible. We will go over both the pros and the cons of this service so that you can get a great overview of the good as well as bad aspects of Motley Fool. Day Trade Review stated that the service is a good value but we wanted to see for ourselves.

motley fool review
Let’s get started right away!


So, What Is Motley Fool All About?


We’ve all heard something about Motley Fool before but some of us  have no proper idea what you can expect from this service. Well, that’s not a problem at all! We will resolve this issue right now.


In general, Motley Fool is a stock picking service that allows you to be completely independent (from a financial standpoint, of course). By using this service, our financial future will be completely in your hands and you won’t have to rely on anyone’s assistance. 


The company was founded by two brothers, Tom and David Gardner, back in 1993. The main goal of the Stock Advisor was to make the world a better place by informing people on how they can make better financial decisions in the long run. That mission has been quite successful so far and Motley Fool quickly became Stock Advisor’s flagship product.

gardner brothers


If we look at different reviews on the internet, we will see that many people claim that Motley Fool is the best stock picking service in the world. In some places, we can even find that they have an impressive 356% return ever since their foundation! But, is everything really that rosy? You will find out in the lines below.


Motley Fool Stock Advisor Program


One thing that really stands out is that Motley Fool will give you regular stock recommendations each and every month. So, basically, we will never have to improvise and we will always have a guiding hand that will help you make the best possible financial decisions. But, how does that work in practice?

Every month, we will get 12 stock recommendations and we will receive them via email. If for whatever reason nothing arrives, fear not, as the information will be published on their website either way. Every first and second Thursday of the month, you will get one stock recommendation. Furthermore, every third and fourth Thursday, we will get five recommendations. So, on a monthly basis, we can expect 12 stock recommendations, which is certainly a lot. Every Thursday is crucial, so we really need to pay attention here!

stock advisor program


The keynote is that every stock is well analyzed, so all we need to do is process the data and make the best decision at that point in time. And, whenever we feel uncertain, we can always check out the coverage page. It will provide everything you need for 100% complete financial independence. We can even watch a 1-minute presentation that sums everything up perfectly!


So, Why Is That Important?


Motley Fool can help you change your entire financial future (for the better, of course). You won’t have to spend countless hours analyzing trends in the stock market each and every day, this service will do everything for you. All you really need is a subscription and you’re all set!


What Can I Expect from Motley Fool?


As a member of Stock Advisor, you will see all the best stocks that you can buy at every point in time. You can even see additional information if you need a better input on each of these offers. And, as a real icing on the cake, you will even get access to a special “Favorites” page that can track all stocks that you are currently interested in.


One special feature that you should really look into is “Instant alerts”. This feature works in a similar way to notifications that you can see on social networks. Basically, whenever a huge event pops up, you will get an instant notification. The events that you should pay attention to are huge price changes, new buy alerts, and when is the right time to sell your assets. The last event is especially important and you should pay special attention to it.


You will also get access to a dedicated community page. Once you’re there, you can easily join the discussion boards and discuss anything related to the service with other users. If you have any issues, feel free to post them publicly, and chances are someone will have the answer ready!

motley fool returns


Can You Trust Motley Fool?


Believe it or not, many people are wondering whether the service is trustworthy enough. What’s the reason for that? Well, as always, some people can bash the service in public without an obvious reason. Others are malicious and they want to damage the reputation of the company. Of course, there are even people who may have solid reasons for not being satisfied with the service, but they just take everything much more seriously than they should.


Anyway, regardless of these claims, we can confirm that Motley Fool is 100% trustworthy. They’re transparent, they have a very long tradition, and they even have their own fund — Motley Fool Global Opportunities Fund Investor Shares. So, anyone who says that Motley Fool is not trustworthy is not telling the truth.


Can I Earn a Lot of Money with This Service?


The answer is a resounding yes! If we use the service wisely, we can certainly earn a lot of money. Of course, we need to be careful and we need to have an overview of what we are doing. But, once that’s done, we can absolutely earn a fortune!


Does Motley Fool Cover Any Penny Stocks?


Sadly, Motley Fool doesn’t cover any penny stocks and that’s one of the rare downsides of the entire service. Motley Fool mainly focuses on blue-chip stocks whereas penny stocks are nowhere to be found. Now, it’s true that most big companies invest in blue chip stocks, but we believe that the service should support penny stocks as well. Hopefully, Motley Fool will add this feature in the near future!

stock pick recommendations

What About Technical Analysis?


Technical analysis is narrowly connected with forecasts and analyses of stock prices in general. This type of analyses focuses on historical data like volumes and stock prices.


Motley Fool provides in-depth fundamental analysis, but it doesn’t provide technical analysis by default. If you prefer fundamental analysis, Motley Fool will be a perfect service for you. Otherwise, you may want to check Fool’s recommendations on how you can perform technical analysis in a somewhat alternative way.


Can Day Traders Benefit from Motley Fool as Well?


From our point of view, you will struggle a lot to become a successful day trader. Buying and trading stocks on the exact same day is never an easy task and even the most experienced entrepreneurs can end up struggling a lot.


With Motley Fool, we can certainly benefit from being a day trader but we will need to work hard every day to accomplish such a complex role. Our advice is to avoid being a day trader, if you can.


The Bottom Line


We don’t need to be experts to have a bright financial future, we can rely on Motley Fool. This is undoubtedly one of the best stock picking services on the market and you should absolutely give it a try. As long as you are fully aware of its good sides and bad sides, you should have no issues whatsoever!

24Option Review

With the growing number of restrictions being placed on buying, selling and in particular of shorting stock, indexes and commodities, individuals and businesses have been searching for alternative methods to trade idle funds for the short to medium term. In bear markets, when there are few choices of upward trending stocks this desire for others ways to profit has lead to an explosive growth in alternative investment vehicles.

In the case of stocks, CFDs, or ‘Contracts for Difference’ were the first to appear in the early 1990′s although they didn’t become available to independent traders until the late 1990′s. Further, for a number of reasons CFDs proved to be not so popular with traders so a further refinement of the concept was introduced in the form of binary options.

Binary options offered the benefit of a better risk/reward ratios without the need to place relatively high cost trades, and so services such as 24Options were born.

What Are Binary Options?

Binary Options trading as offered by 24Options are forecasts by traders as to whether prices will rise or fall over a specified amount of time. With CFDs you bet on the difference in prices, with binary options you just bet on the simple movement. As you don’t actually purchase the stock, index or commodity itself, you simply try to predict whether the price will rise or fall, therefore the risk is less and the reward can be greater.

They are ‘binary’ options because the result can end in only two ways. The price will either rise or it will fall. As a trader you can back it either way and you profit if you get it right, or you lose it if you get it wrong. Simple enough. Judgment day is the options expiry date at which time your trade is called. With binary options, unlike other options the options expiry date can be anything from an hour or so to a few days in the future, and you are paid your dividends immediately.

24Option offer a platform for traders to trade binary options and it has proven to be extremely popular since its inception in 2008. 24Option offer three types of option vehicles namely ‘In The Money’, ‘Out Of The Money’ and ‘At The Money’ and each of these provide three instruments namely ‘High/Low’, ‘One Touch’ and ‘Boundary’. How they work is this:

24Option In the Money Expiry

This is a term meaning the option is currently profitable. Options that expire “in the money” are those that expire yielding a profit for the client. Trading at www.24option.com will yield expiration “in the money” under the following conditions:

24Option In the Money Expiry – High/Low Instrument

A High option where the expiry level is above the target price.
A Low option where the expiry level is below the target price.

24Option In the Money Expiry – One Touch Instrument

A Touch option where the market price reaches the target price before the expiry time. In such an event the option automatically and immediately expires “in the money”.
A No-Touch option in the event that the market price does NOT reach the target price before the expiry time.

24Option In the Money Expiry – Boundary Instrument

An Inbound option where the expiry level is within the boundary (i.e. above the lower and below the upper target price).
An Outbound option where the expiry level is outside the boundary (i.e. below the lower or above the upper target price).

24option

24Option Out of the Money Expiry

This is a term meaning the option is currently not profitable. Options that expire “out of the money” are those that expire yielding a loss for the client. Trading at 24Option will yield expiration “out the money” under the following conditions:

24Option Out of the Money Expiry – High/Low Instrument

A High option where the expiry level is below the target price.
A Low option where the expiry level is above the target price.

24Option Out of the Money Expiry – One Touch Instrument

A Touch option in the event that the market price does NOT reach the target price before the expiry time.
A No-touch option where the market price reaches the target price before the expiry time.

24Option Out of the Money Expiry – Boundary Instrument

An inbound option where the expiry level is outside the boundary (i.e. below the lower or above the upper target price).
An outbound option where the expiry level is within the boundary (i.e. above the lower and below the upper target price)

24Option At the Money Expiry

This is a term meaning the option is currently trading at the same price as the target price. Options that expire “at the money” are those that expire at the target price. In the event of expiry at the money, 24option will return the invested amount to the client. Trading at 24Option will yield expiration “at the money” under the following conditions:

24Option At the Money Expiry – High/Low Instrument

A high option where the expiry level is at the target price.
A low option where the expiry level is at the target price.

24Option At the Money Expiry – Boundary Instrument

An inbound option where the expiry level is at one of the boundaries (either the lower or upper target price).
An outbound option where the expiry level is at one of the boundaries (either the lower or upper target price).

Click here to open your free 24Option account and receive your joining bonuses

24Option Returns on Investment

Returns are fixed and work as a percentage of the dollar amount invested. If you are ‘In The Money’ these are usually between 70% and 85% of the amount traded. Even if you are ‘Out of the Money’ you will still get back anywhere between 0% and 15% of the amount invested, and if you are ‘At The Money’ you will get back 100% of your money back.

If you find this explanation still overcomplicated you can learn more about how it works at the 24Option website.

24Option provide an ‘Education Centre’ in which you can find all the tools you need to learn how binary option trading works, and how to use their platform and interface, which incidentally I find very cool looking (that’s a technical term by the way) and pleasing to the eye.

The Education Centre at 24Option includes manuals, videos, and an expiration calculator in addition to other useful resources and tools. Furthermore they provide a glossary of terms (so you are never left in the dark wondering what some of the more technical industry related terms and abbreviations mean, plus a ‘frequently asked questions’ (FAQ) area where you can find answers to the most common problems without having to wait for customer support to get back to you.

Not that that seems to be a problem as their 24 hour customer support area is well manned and extremely helpful. Needless to say they are very understanding when it comes to seemingly obvious questions from novices and ‘newbies’.

As with all the better online trading platforms these days, 24Option provide access from multiple mobile devices as well as your home desktop computer. Apps are made available for the iPhone and Android operating systems so you can comfortably trade away from anywhere in the world with an internet connection. I spent a wonderful afternoon trading recently from my sun bed on a beach in Phuket. Sounds like a dream come true doesn’t it? So can it for you.

24Option Review Conclusion

24Option provide a stable reliable platform for you to trade your binary options. The support is second to none and once you get a feel for what you are doing you can do extremely well. Binary options are very simple trading instruments which don’t leave you guessing what you did wrong, or indeed what you did right. You get credited with your profits instantly after the expiry date, so there’s no need to wait weeks (or sometimes months) like you do with other trading types.

Getting your profits transferred to your back account is easy, although I admit the security measures they have in place do take a little getting used to. However, just like the security measures at the airport on my way home from Phuket, they are there to protect you so I’m happy to put up with a little inconvenience when it comes to my safety and the safety of my money.

We hope our 24Option review has given you enough information about the product for you to make an informed decision.

 

TradeStation is a widely known trading platform that provides its users with many options, such as trading in stocks, testing, ETFs, and futures. It is one of the leading platforms when it comes to trading and brokerage. Still, not a lot of information can be found online in regards to its origin and history.

What do we know about TradeStation?

TradeStation boasts itself as being one of the fastest and most trusted platforms whose performance is compared to that of a great race car. As the race car driver can modify some features to enhance the car’s power, the TradeStation users can adjust the platform to ensure a flawless trade execution.

Some of the platform features include the usage of a market scanner, an auto trade strategy, backtesting (based on historical data) and the possibility of setting up charts.

In 2000, you could use TradeStation as a paid software for trade automation, and it had a monthly cost of $99. However, since the trading platforms market is very competitive, the company that owns TradeStation has decided to waive the fee.

Furthermore, Barron’s magazine has ranked it high on its list of Best Online Brokers. Still, is that reason enough for anyone to choose it over other trading platforms? Let us try to answer this question by taking a closer look at its tools and products.

What exactly does TradeStation offer to its users?

 

TradeStation University

If you are an absolute beginner in the world of trade or if you feel like extending your trading knowledge and upgrading your skills, TradeStation has got you covered. Hence, one of the greatest features the platform offers is the TradeStation University. In addition, all information it provides is completely free.

Upon choosing the topic of their interest, users are introduced to twelve professors. Each morning they organize pre-market briefings to update everyone on the latest market news. If for whatever reason you miss your lesson, you can read all the material at any point.

TradeStation Account Types

When someone decides to sign up for this platform, they can choose from five different account types:

  • A personal account with only one owner.
  • This is a shared account owned by two or more individuals. In case one of the account owners should die, there are two ways in which the interest of the deceased can be handled.
  • This is a retirement account that offers four different options to a user in regards to the retirement accounts or a retirement plan.
  • An account that concerns U.S. business entities. There are six different sub-accounts: corporate, general partnership, limited partnership, trust, limited liability company, sole proprietorship.
  • An account managed by an adult on behalf of an underaged individual (who can be either 18 or 21 years old, depending on the state of residence and the laws that apply).

 

Once you decide which account you will use, you then have to choose how you will fund it. The options are: via wire transfer, check deposit or electronic transfer (ACAT).

Stock and options accounts are the most inexpensive choices as they require $ 500 for cash and $ 2,000 for margin. However, initial funding for Futures Trading, on the other hand, is $ 5,000.

TradeStation Costs

When using TradeStation, the following prices will apply. Still, bear in mind that each option includes a software, premium tools and real-time data free of charge:

  • Stocks and ETFs – $ 5 per trade.
  • Options – $ 0.50 per contract plus $ 5 per trade. When you trade in small blocks, you can save $1.00 per contract with no base/ticket charge. The minimum, in this case, is one contract market or limit.
  • Futures – $ 1.50 per contract.
  • Mutual Funds – $ 14.95 per trade. Users can choose from many funds that are provided by 79 fund families.
  • Bonds – $ 14.95 plus $ 5 per bond to trade government, corporate and municipal bonds.

If someone is an active trader, additional pricing options are available. However, If you are a beginner, bundle pricing might be your safest option.

 

TradeStation – pros and cons

Pros:

 

  • Free training (TradeStation University)
  • Excellent customer support
  • The possibility of backtesting trading strategies and accessing your account anywhere, anytime (there’s even a mobile app).

Cons:

 

  • It is difficult to navigate the platform.
  • There is not enough information about the safety of one’s funds
  • There is no free trial.
  • The background of TradeStation, for the most part, remains unfamiliar.

 

If you want to try out the app and its features, you can do so by visiting https://www.tradestation.com.

 

 

If you frequently visit trading websites you probably know how important first impressions are. And, when you first open TradingView you might find yourself with too many details to follow. The website is very detail-rich and launches you straight into a sea of information. You can see charts, figures, and topics immediately with no introduction.

Of course, if this is what you were looking for, that is great. However, it can be confusing for someone who is entirely new to trading. After all, it is not easy to figure out what this website has to offer. So, let’s delve a bit deeper into it and find out.

Design

The website definitely presents itself as a very modern service. From the first look at it, you can see that it was designed by experienced traders in collaboration with well-trained software developers. The creators of the website believe that they can work together with the community share ideas and learn more. This is something you can notice quite quickly.

What is TradingView

Whenever you consider choosing a service the main thing to look for is what makes it different. For TradingView it is probably the moderators. They are essentially active members of the community who do not stand above the users. The moderators are, in fact, users who TradingView’s staff finds trustworthy and capable. They are here to help newer members and answer the questions they might have. And they do it for free. So, the best part of TradingView is the enthusiasm that might sweep you off your feet when you join.

It is really impressive when you consider that TradingView is taking its community a lot more seriously than any other service.

Services

While it might not be easy to find which features you can access via TradingView, the list is quite impressive. First of all, a beginner would be more than happy to use the HTML5 Charts that are readily available. Of course, this is useful for pros as well. There are also server alerts as instant notifications you can set up. There are 12 conditions you can set up for the alert to be triggered. You can also opt to receive those alerts via e-mail, text or a popup.

You will also be able to use their screener to search through the stock with metrics of your choice.

If you need an analysis of the market, you can use their tool for technical analysis. It actually includes over a hundred different studies. They even have a programming language of their own. In fact, modifying anything seems to be rather easy.

Training exercises are also available to anyone who doesn’t feel ready to trade just yet. Their broad market data coverage is a feed which will give you instant access to major assets. This includes stocks, futures, even Bitcoins. There is even a section named “Even more Tools” which you should definitely check out.

Costs

Unlike many other services, TradingView has very simple plans for their users.

You can use the standard plan called “Pro” for $14.95. This provides access to the tools a casual trader might need. And you can even bring the price down to $9.95 if you purchase a two-year subscription.

You can opt for the Pro+ plan for $29.95 per month. This provides the tools necessary for serious traders. The cost, of course,goes down to $19.95 with a two-year plan.

And lastly, you can choose the Premium for $59.95 a month. This will give you a no-limit access to the features available as well as complete support. Purchasing a two-year plan will drive the price down to 39.95 dollars per month.

The best part is that TradingView has a free trial period of 30 days. And that is for all three plans. However, there are no refunds.

Pros

*Incredibly useful charting

*Very competitive prices

*Free trial for a month

*An active community of traders.

Cons

*No refunds

*Navigation is not very easy.

Verdict

If you plan on being a serious trader and want to be a part of a collective this might be the right place for you. The charting functions seem to be very useful and the technology they offer is top-notch. And, of course, the fact that they offer a free trial is a big plus. However, if you choose not to continue using them after the trial, do not forget to cancel the subscription. Bear in mind that the automatic billing function might kick in if you don’t cancel it.

 

Did you ever hear of TopstepTrader? If you have, you might have found the information unbelievable. The word that goes around is that they give traders with lower budgets a chance to trade with no risk. How? They let you use their capital instead of your own. As long as you are good enough. This definitely sounds too good to be true, so we visited their website to see what is going on.

TopstepTrader

As first impressions go, it was a positive one. The website is very tidy, easy to read through and it looks good. Finding the information you need was very simple. This, of course, is a very positive thing. After all, when the website is very cluttered it feels as if they are trying to hide something. But with TopstepTrader, all the information is at the ready.

But, what do they offer?

TopstepTrader gives an opportunity to its users to become funded traders, which essentially means that, once they prove their skills and that they fit well with TopstepTrader’s trading style, they will receive access to a funded account which they can use to trade instead of their own money.

Services

Another incredible thing about TopstepTrader is the fact that you can start for free. Once you join, there are two prominent options. You can either start up with a simulation first to polish your skills or test yourself.

If you choose the simulation, you will have a trial account for 2 weeks. You will be able to trade with $150.000 and see whether or not you have what it takes. If you feel ready, you can go through their evaluation program. In the evaluation program, you will be expected to trade in real time while being closely monitored. You will then go through the other two steps and join the program (hopefully).

TopstepTrader Trading Combine

Once you start out with this option you will receive a target profit you have to reach. Bear in mind that the testing is not free. You will have to pay for every month you require to reach the goal. If you are not doing too well, you will be able to reset everything for 100$ and start over. When you enter the simulation you will be able to choose between the starting funds. You will have 4 options, 30, 50, 100 or 150 thousand dollars. It will last for at least 10 active days. You will have to stay within the limits of your potential losses and reach the goal profit. Depending on the starting balance, you will have to pay between $150 and $375 per month.

TopstepTrader’s Funded Trader Preparation

This is the second step of evaluation. However, it is a lot more precise than the last one. The account you are applying for comes with parameters that you have to trade in. And this simulation will help you practice trading in them. The rules are similar: Trade for 10 days, stay above your loss limits, follow the plan, and follow the rules. Once you achieve the target for the profit, you will finally receive your account.

TopstepTrader’s Funded Account

If you have successfully shown that you have what it takes you will receive your reward. An account with which you can trade in the real market. You will suffer no risks and be allowed to keep 80% of the profits you make. And not only that but the first 5,000 dollars too. You will even be able to trade without a commission if you use their platform. The one flaw we found was that there is a lack of support for mobile devices. You can use it, but there is a chance to experience a connection delay.

Coaching

For $195 a month, you can subscribe to their coaching program. With this plan, you will have private sessions with your coach who will analyze your trades. With these analyses, he will point out your mistakes and help you advance.

Squawk Radio

This is a very unusual feature. TopstepTrader actually has a radio host Eddie Horn. He is a trader with over 25 years of trading behind him. He hosts a very interactive show which can prove itself to be quite useful. There are perspectives on various stocks, insights from famous traders, interviews and regular updates.

Pros

*14 days of a free simulation account

*It offers an incredible opportunity

*No risks if you manage to go through the program

*Free education

Cons

*They offer no refunds

*The costs are not very transparent

*You do not know how much the evaluation will cost you, as it might take you a while to reach the goal.

 

This time around we are taking a look into one of the cheapest platforms out there. Just2Trade. Not only will you have free access to Just2Trade+ platform, but the trading fee is among the lowest. In fact, it is only $2.50. But, is that worth it?

First of all, we will cover the platforms and tools they offer. The main platform is the Just2Trade+ and it’s an online platform. It can be at your service entirely free. It does have everything one needs to trade. There are watch lists, options chains, charting features and the order ticket window. However, it is noticeable that the platform was made to be cheap.

Services

Let’s start with the positive side. It definitely runs smoothly and without issues in the browser. The charting function was handy, as it should be. The bars were clean, the usage was simple and you had over 90 optional indicators. A bit below average, but could be enough. You also have 11 different drawing tools. Again, not perfect, and a bit under the standard number, but still, respectable.

If you are an options trader, you will have a relatively basic option chain. It will include all five Greeks, over twenty optional columns and a quick analysis option. So, you will be able to pull up charts on the go. There are some issues too. You cannot order columns in a custom order. You cannot visually enlarge the charts and there is no advanced analyzing.

There are also some other issues. For an example, you can’t set alerts up at all. Active traders will dislike the fact that you cannot set your hotkeys either. In fact, the platform lacks a lot of functionalities you might consider mandatory.  They also include research for their clients. So, let’s take a look at that.

Research

Just2Trade does offer research with their services. However, it is less than ideal. While they use Morningstar, a pretty strong option, they only use the most basic package. When you finally locate and open the Morningstar module, a lot of data will greet you. At the first glance, there is an abundance of it. Graphs, analysis, date and more options separated into sections. You will be able to conduct basic research. This includes checking news, examining balance sheets, cash flow statements, and other, basic options.

However, once you try digging deeper, you will notice some issues. The big one would be that you can only pull up major exchanges. You will not be able to research ETFs, mutual funds, or pink sheets. And even when researching stocks, you will notice that metric comparisons, SEC filings and more is lacking. The worst bit? There is no actual screening tool.

Mobile Trading

From the get-go, we can praise the fact that they have made native apps for both major platforms. You can download it for both Apple and Android smartphones. However, they are not very versatile. And we can definitely notice a trend of bare necessities with Just2Trade. You can only use the app for basic watch lists, pulling quotes, options change and only placing simple orders.

Costs

Now, the price is the part that tries to make all of the issues disappear for certain users. The commission structure is simple and understandable. The fee is $2.50 and options trades are $2.50 and another 50 cents per contract. This is already incredibly cheap. And then, add to that that the platform is literally free. If you are a casual investor who can get by with mere basics this might be perfect for you. You will have to pay a bit more for mutual funds trades ($12.50) and broker assistance ($22.50). But still, they are incredibly affordable. On the other side, you should know that real-time streaming quotes only come during the first 15 minutes of each day. For better real-time information, you would have to pay $7.99.

Pros

*Incredibly low fees

*Free platform

*Decent charting

Cons

*Basic design

*Cutting corners with research options

*Lacks screener

Verdict

 

This platform will leave you wanting more. However, since it is incredibly affordable, a casual trader might find it to be everything he needs. Even supplementing it with services by other companies might not be too expensive. If bare basics fit your needs, go ahead, otherwise, give it a pass. However, since it is free, there is no harm in testing the platform out for yourself.

 

 

There are tons of different trading platforms and software to help with your charting out there. Some of them even offer free services in the form of information on stock prices at the end of the day. So, it is rather clear that you have some choices to make.

In fact, the number of options makes finding the perfect software for your needs is not an easy task. So, if you want to know if eSignal is the right choice for you, read on, it should help you.

What is eSignal?

To put it simply eSignal is a trading and charting platform. It allows its members to trade, gain information in real-time and create charts with that live data. So, if you are searching for a service that allows real-time charting and trading on a single platform, this could be it.

Since eSignal is a part of Interactive Data you can expect quality data.

Of course, as many other services, eSignal offers online education if you want it. This means that the platform is suitable for the new guy as well. And it only requires a very limited knowledge of data searching and coding.

The features will cover most of the markets and channels you might find important.

Once you start browsing through their website you will see that the platform is rather useful. And it can come in handy for any type of a trader. The data is accurate and the platform performs regular updates while the design is rather clear. Of course, you will also be able to set alerts, something that everyone with experience agrees is important.

You can also save all of the settings you make so you can use multiple devices to navigate at the same time.

Of course, they offer a range of services with different costs, so let’s take a quick glance at those.

eSignal CLASSIC

For the casual trader, this plan has everything you need. While it is not perfect for day traders who try to make quick trades, it is a great choice for those who make a couple of trades each month. This is the basic version of the service that costs only $47 a month, but it has a delay of 15 minutes.

eSignal SIGNATURE

As always, the medium option is the most popular one. The Signature plan provides every information in real time and it costs $152 per month. And, while the Classic plan allows you to check out 200 symbols or less at a time, this one allows up to 500. Additionally, you will also be able to use the learning center. With access to this database, beginners will have what they require to gain knowledge.

eSignal ELITE

The Elite plan is the most expensive one. It will cost you 309 dollars each month, which is definitely not a small figure. However, if you are serious about trading it might be well worth the money. The Elite subscription plan includes multiple features. With it, you will also have extended access to the market’s history, and the Advanced GET platform for technical analysis.

The additional platform will offer you an opportunity to analyze the market a lot more thoroughly than previous plans would. There are multiple categories you can use to track the stock in its lowest or highest settings. You will be able to project your earnings and trade through the eSignal website directly.

Customer Support

One of the things eSignal excels at is customer support. And it doesn’t change depending on the plan you are using. You will have 24/7 support access via the website by using the chat function. You will also be able to access the FAQ portion of the site in the form of their Knowledge Base. In fact, with the Knowledge Base, you will rarely actually require help from the support team as it is very extensive.

Pros

*Charting is advanced and simple to do.

*Various add-ons available to make your trading easier.

*Access to a stream of real-time data

Cons

*The Elite plan costs over 300 dollars a month, and that is without exchange fees.

*You have to pay for every add-on you choose.

*Some features are hard to use.

Verdict

This is a very useful tool that can come in handy for anyone willing to put in the effort. Of course, it will cost a bit more than the others, but overall it should be worth it. You can also use the option to check it out with a free trial period of 30 days. Definitely worth giving a shot.

In this review, we will be taking a look at Timothy Sykes, an online trading platform that offers its users various educational and practical features, led by the eponymous trader Timothy Sykes. This platform specializes in penny stocks, and it employs several highly experienced traders or ‘gurus’ as they are known on the website, who share their penny stock experience with their users.

We will explore all the ins and outs of this platform individually, focusing on the key aspects such as Sykes’ backstory, the trading philosophy employed, as well as the various features and resources hosted on the platform. With that in mind, let us take a look at the leading personality, Timothy Sykes himself.Timothy Sykes

Who is Timothy Sykes?

The trader whose name the platform takes is a well known personality in the online trading community. He became a millionaire at the tender age of 21, by using the money (some $12,000) he got for his bar mitzvah, and using it to generate in excess of $4 million in less than 10 years. This is the reason why he is considered something of a legend in the community, a fact which could be said to have gone to his head.

He became known as something of a caustic personality online, and he has tried to make up for this ever since. That is why he places emphasis on transparency in his dealings above all else. Among other reasons, he decided to set up his own day trading platform after coming into contact with various traders who wouldn’t provide proof of their trades. That is why Timothy makes a point of verifying all of his trades, which is a commendable development, especially considering his past.

What services does Timothy Sykes offer?

The services offered by the Timothy Sykes platform can sometimes be a bit difficult to delineate, due to the counterintuitive way in which the site is organized. Namely, the platform is actually two platforms, the main Timothy Sykes website, as well as the Profit.ly website, which is where most of the activity is located.

Profit.ly is a relatively new day trading platform, and it strives to rectify some of the more common problems Sykes had with other platforms of a similar nature. The most important change is that every major trade has to be verified by providing transcripts form a brokerage institution, which helps bolster trust.

As for the chat rooms, there is a wide variety to choose from, seeing as though every guru, of whom there are four, operates two chat rooms. The first chat room for each guru is dedicated to trading, and this is where they will notify their users which trades they are making, which stocks to watch, and so on.Timothy Sykes Offer

The second chat room is the so-called Off-Topic room, in which more informal conversations take place. This is another important aspect to the community fostered on the Timothy Sykes platform. The sense of community is overwhelming, and frank and open discussions are the norm, as per the overarching theme of transparency and openness, even at the cost of being impolite.

There are even internal stories circulation about certain members considered legendary. For instance, it is common knowledge on the platform tha one long time user became a millionaire under the direct instruction of one of the moderators. This helps bolster the credibility of the platform, in addition to providing a healthy dose of motivation to the users.

There are educational videos available in addition to the guidance received inside the chat rooms. These offer in-depth theoretical knowledge, as well as some of the hands-on experience Sykes has gathered from his years of successful trading. These are a great resource for beginners, since they cover the most effective trading techniques with regard to penny stocks.

Sykes also offers what he calls a Millionaire Challenge, a special tier of membership wherein the user is instructed and mentored as to how to become a millionaire by Sykes himself. However, the details of this program are rather vague, since he lists neither the price nor the contents of the program in advance, so prospective users have no way of knowing what they are in for before they commit to buying it.

Prices and Fees

It is very important to know in advance what you will be expected to pay for membership to a platform such as this. Timothy Sykes is actually on the low end of the online investment platform specter, seeing as though the basic plan will set you back around $75 per month. This covers access to the chat rooms, real-time mobile trade alerts, as well as a daily trading watchlist. With that in mind, it is highly likely that by following the advice given in the chatrooms, you will be able to recoup the investment in terms of the monthly subscription, and then some.

Timothy Sykes in brief

This is an excellent platform for the beginner day trader who wants to learn about the markets in a safe way that won’t bust the bank. Membership is quite affordable, when compared to some of the other platforms. The only criticism that can be levelled at this platform is the often confusing and byzantine design and layout of the website, but that is a small price to pay to get access to such a wealth of knowledge.

In this review, we will be taking a look at PennyPro, an online chat room and educational service that focuses on the various trading techniques and tips related specifically to trading in penny stocks, as the name may suggest. It offers a wide variety of different services, such as chat rooms, webinars, educational materials, a mentor program, and a special feature called the SuperNova University.

We will take a look at all of these features individually, in addition to providing some insight into the overall atmosphere on the platform, as well as taking a look at the team behind it. With that in mind, let us take a look at the team first, before going over the various features.PennyPro

Who runs PennyPro?

As with any online investment platform, the people who are behind it, and who provide their expertise to their users are the most important aspect of any particular platform, in the view of most prospective users. However, in this case, answering the question of who runs the platform is a bit trickier than usual.

That is because PennyPro is run by a man named Jeff Williams, and that is pretty much everything we know about him. He was recently promoted to head PennyPro, replacing Steve LeBlanc, which maybe the reason why there is little biographical information available on the site. 

Still, all of the trading advice offered by Jeff is legitimate, so this lack of biographical details may not be as significant as it may seem. We will go over some of the educational material included on the platform in the following section.

What services does PennyPro offer? 

It is important to give a rough sketch of the trading philosophy of PennyPro before we discuss the various features it offers, which are centered around this philosophy. As previously mentioned, PennyPro deals in penny stocks, more precisely, stocks whose price ranges from $0.001 to $5, which are prices anyone can afford to pay for stocks in order to learn to trade.

This wide availability is the cornerstone of all the services provided by PennyPro. It aims to teach its users how to trade based on rigorous data and following best practices, and it does so using a variety of different tools, the most notable of which is arguably the chat room functionality embedded within the site.  

The Live Day Trading chat room is open to all subscribers, and it is moderated by one of the staff at all times. Ths chat room hosts technical discussions about particular stocks, as well as enter and exit alerts. It also features a live audio feed for those who cannot read the chat as it is happening. This is where people trade along to what the moderator is suggesting, or follow the rise or fall of a particular stock together, deciding what sort of play to make.

The educational content on PennyPro is also notable. The viseo lessons contained therein are subdivided into three sections, based on the relative skill level of the user watching them. The first section is for beginners, and it covers the basic trading strategies for penny stocks. The second section is for more advanced users who want to learn intermediate techniques. Finally, the third section is for users who already have a lot of trading experience, so the content is more technical, and the techniques a bit more risky than the previous two sections.Penny Pro Review

The Webinars hosted on the platform are also organized along the same three tier system. Each of these videos runs about an hour in length, and they provide a more in-depth view of all the different aspects of the topic they are covering, In this sense, they are more theoretically complete than the educational videos discussed previously.

The feature that sets PennyPro apart from all other similar platforms is its innovative concept called the SuperNova University. Not only will PennyPro teach you what you need to know in order to trade well, it will also test you on what you have learned. The SuperNova university consists of six semesters with five videos each, and you will be faced with a 10-question test every few lessons, in order to see how much you’ve progressed.

Prices and Fees

Penny Pro offers three tiers of fees and membership statuses. Firstly, there is the Beginner Pack, which runs at $149 for one month. If you want a three-month membership, you will need to pay $249, which is the most popular option. Finally, a whole years’ worth of membership will cost you $799.

These numbers may seem steep at first, but it is important to point out that these are at the lower end of the spectrum when it comes to these investment chat rooms, since the prices can be quite exorbitant on some platforms.

PennyPro in brief 

To sum up the PennyPro platform in a few words, we would say that it offers great educational content, and that is especially highlighted by the SuperNova University feature, which actually tests your knowledge. The chat rooms are a great place for discussion, and if you follow some of the advice given within, you may be able to make some money, perhaps even enough to cover membership costs.