While Just2Trade might not be as well-known as larger brokers such as Charles Schwab and Fidelity Investments, itâ€™s been around a long time all the same, since 1981. Just2Trade is really focused on one thing â€” low trading commissions â€” and if thatâ€™s what you need as a trader, this broker may be just what youâ€™re looking for. However, that obsessive focus on price comes at the cost of perks that are quite often standard at other (admittedly higher-cost) brokers.
Low trading costs generally are a positive thing for beginning investors because they allow them to roll up more earnings in their portfolio. While Just2Trade focuses on low commissions, itâ€™s really a broker for high-volume traders and professionals who know what they want â€” that is, low costs. The lack of substantial research and other frills may leave some new investors feeling lost, while the higher account minimum certainly doesnâ€™t encourage new investors to join the fold either.
|Stock trading fees||
|Account fees (annual, transfer, inactivity)||
|Commission-free ETFs offered|
|Mutual funds (no transaction fee) offered|
|Offers automated portfolio/robo-advisor|
|Mobile app||iOS, Android|
|Customer support||Phone, Chat, Email|
Itâ€™s not just the per-trade pricing that clients should find attractive, and the broker competes well with Interactive Brokers here too. Just2Trade offers per-share trades starting at $0.0025 per share (for less than a million shares a month) and then goes as low as $0.001 (for accounts trading at least 5 million shares a month). Interactive Brokersâ€™ pricing doesnâ€™t get that low until you trade 20 million shares, though it goes even lower once you surpass 100 million shares.
For example, on a trade of 10 contracts, Just2Trade charges $7.50, while Interactive Brokers (typically) charges $7.00. If you trade more than 12 contracts at a time, Just2Trade is cheaper and remains cheaper than Interactive Brokers until you trade tens of thousands of contracts a month.
If youâ€™re a high-volume trader or an investor who gets research from other sources, the limited research and support wonâ€™t be a drawback to you at all.
Just2Trade has been around for nearly four decades and is a member of the Securities Investor Protection Corporation (SIPC). In the event that the broker is unable to return your assets, this membership protects investors up to $500,000 in assets (including up to $250,000 in cash-only assets). The broker goes one better, though, ensuring each account up to $25 million with excess coverage provided by Lloydâ€™s of London. None of this coverage will keep your investments in risk assets from declining in value, of course, but you are protected from financial troubles that originate with the broker.
If finding the lowest trading costs is your M.O., then Just2Trade ought to be in the running for the home of your new account. It promises low trading costs and delivers. However, itâ€™s a one-trick pony, and those looking for more â€” research, for example â€” probably will want to look elsewhere.
Those who need a full-service broker while still getting low trading costs could check out Interactive Brokers. Those needing more guidance or research and willing to pay a bit more could consider Charles Schwab, Fidelity Investments and even Merrill Edge.