Online brokerage services have existed for over 20 years. Trading investments today has never been cheaper. So while the race towards cheap trades (in some cases free) is happening, other functionality is becoming more important when selecting a stock broker.
For this review, I compare TD Ameritrade and Ustocktrade. Which one is better depends on your needs? So let's examine the major features first.
We've determined with online brokerages the most critical feature customers care about is the
cost per trade. The second most important feature is the minimum deposit, and the last is if the broker
offers mutual funds. Let's look at how TD Ameritrade and Ustocktrade
stack up against each other on these points.
To start, we will consider the minimum investment required for both applications. In
how much does one need to invest to use the service?
Both TD Ameritrade and Ustocktrade have the same minimum of $0. So they are equal in this requirement.
Next I'll consider cost per trade for both brokers.
Out of the two, Ustocktrade is cheaper per trade at $1.00 than TD Ameritrade at $6.95/trade.
When it comes to having support for mutual funds, there is a clear division between TD Ameritrade and Ustocktrade. TD Ameritrade does have support for mutual funds, while Ustocktrade does not.
|Review||TD Ameritrade Review||Ustocktrade Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Amount of Deals|
|Promotions||Trade Free for 60 Days + Get Up to $600 Cash||None|
|Stock Trades||$6.95/trade||$1/trade + $1/monthly|
|Options Trades||$6.95/trade + $0.75/contract||N/A|
|Investment Types||Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds, FOREX, Futures||Stocks, ETFs|
|Access||Website, iOS App, Apple Watch, Android App||Website, iOS App, Android App|
|Broker Assisted Trade|
|No Fee ETFs|
|Sign Up||Sign Up|
About TD Ameritrade
Get complete access to all kinds of investment options with relatively low pricing from TD Ameritrade. One of its biggest advantages is it requires no minimum deposit to open an account. This is the closest we can find to a perfect online broker.
Ustocktrade is an interesting concept, creating a truly community-based investment platform. It may be ideal for new and small investors, as well as early adopters, since the fees are very low and there are no account minimums. However, the service will probably be of very limited use to larger, more sophisticated investors.