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.
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.
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.
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.
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.
*Incredibly low fees
*Cutting corners with research options
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.