Just2Trade Review 2018

By Jignesh Davda  | January 7, 2018

Just2Trade is a discount brokerage focused on stock and options trading on the U.S. exchange with commission rates lower than most of its competitors.

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Overall Rating

2.4/
5.0
Products & Fees
2.8
Trust
3.3
Special Features
2.5
Desktop Experience
3.5
Mobile Experience
4.2
Customer Support
2.5
Research & Insights
3.1

Just2Trade Fast Facts

With commission rates for stock trading starting at $2.50 per trade, Just2Trade has built a reputation as a deep discount broker but, unfortunately, confirms the adage that you get what you pay for. Just2Trade offers stock and option trading on U.S. exchanges as well as the ability to trade futures through a separate account. The low minimum account requirement plus discounted commission rates suggest that the broker is catering to less experienced investors. While the broker's proprietary platform may lead to a disappointing experience, the well-known MetaTrader 5 platform is available and, for an additional cost, so is the Sterling Trader platform.

pros

  • Competitive Fees
    Per-trade fees start as low as $2.50 per trade for stocks and $0.50 per option contract
  • Third-party trading platforms
    Powerful third-party platforms are available, including Sterling Trader (additional fee applies) and MetaTrader 5
  • Easy-to-use In-house Platform
    User-friendly in-house platform feels familiar and intuitive

cons

  • Limited Range of Markets
    Offerings are restricted to stock and option trading on the U.S. exchange
  • Basic In-house Platform
    There are no features for advanced order entry, complex option strategies, alerts, and the like
  • Inadequate Analysis and Education
    Educational offerings and market analysis are quite limited compared with its competitors
  • Lack of Integration for Futures Trading
    Separate account and trading platform are required for trading futures
2007-2012
Low Cost Broker
(Ranked Lowest Cost Brokers by Barron's)
2015
Acquired by WhoTrades Inc.
1981
Founded

Products & Fees

2.8

Just2Trade offers trading in U.S. exchange traded products, including stocks, options, and ETFs. Futures trading is available through a separate account and a separate platform. ETFs traded on the U.S. exchange are offered at the same commission rate as stocks. A tiered structure is also offered that can reduce commissions on stock trading to as low as $0.0025 per share, although this plan requires a minimum commitment of $333 in commission fees per calendar month.

  • Stocks
    $2.50
  • Futures
    $2.50 per side, per contract*
  • ETFs
    $2.50
  • Exchange Listed Stocks Under $1.00
    $2.50 + $0.003 per share for entire order
  • Options
    $2.50 + $0.50 per contract
  • Spreads (per leg)
    $2.50 + $0.50 per contract
  • Straddle (per leg)
    $2.50 + $0.50 per contract
  • Mutual Funds
    Not Available
  • Forex
    Not Available
  • CFDs
    Not Available

Trust

3.3

Just2Trade is a member of FINRA, NFA, and SIPC. As a result of SIPC membership, clients receive protection of deposited funds and securities up to $500,000. Just2Trade's parent company, WhoTrades Inc., has held a controlling interest in it since 2015.

$250,000
SIPC Insurance
Securities
$250,000
SIPC Insurance
Cash

What you need to know

Although SIPC membership should offer clients confidence in conducting business with Just2Trade, it should be noted that in 2012 a case was filed against Success Trade Securities, which then owned Just2Trade, and its CEO, Fuad Ahmed. An appeal was filed with the SEC shortly after a decision by FINRA to expel the parent company from SIPC membership and bar its CEO. Just2Trade was acquired by WhoTrades Inc. on February 26, 2015, and has been in good standing with both FINRA and the SEC.

Special Features

2.5
Special Features

As a discount broker, Just2Trade falls short when it comes to additional features. The broker does offer some features at an additional cost, and by utilizing third-party platforms clients can access features such as backtesting and advanced technical tools.

Enhanced Price Execution
Through a paid option, clients can access better spreads.
Automated Trading
MetaTrader 5 allows clients to build and execute automated strategies
Backtesting
MetaTrader 5 enables testing of an automated strategy against historical data

What you need to know

Self-directed traders looking for a lot of additional features may be disappointed with Just2Trade, but the broker makes it up by offering excellent third-party platforms that can unlock those desired features. Clients may be interested in the modestly priced enhanced-market-data subscription to further reduce trading costs by gaining access to multiple market makers for competitive bid and ask prices.

Desktop Experience

3.5
Desktop Platform Experience

Just2Trade offers two web-based platforms, one for trading equities and one for trading futures. Just2Trade+, the broker's primary web-based platform, is straightforward and easy to navigate. The platform offers a watchlist, charting, order entry, and basic options analysis as well as account information. OEC trader is for trading the futures market. Each platform requires a different account, and funds from one cannot be used to trade with the other. Just2Trade has two third-party desktop platforms: MetaTrader 5 and Sterling Trader Pro. MetaTrader 5 is free, Sterling Trader Pro the deluxe option.

Pros

- Easy-to-use web-based platform. [if !supportLists]
- Well-known third-party platforms available either free or at a cost.
- News feed customized to a user-created watchlist.

Cons

- Market-depth data requires a subscription service.
- Web-based platform does not allow use of custom indicators.
- Broker does not offer a proprietary desktop application.
- Options analysis tools are basic in the web-based platform, limited to a probability and profit/loss calculator.

Mobile Experience

4.2
Mobile Platform Experience

The Just2Trade mobile platform is available for both Android and iOS devices, so clients can stay up-to-date on market news and economic events impacting the market. Clients can also place trades directly from the mobile app.

Pros

The mobile app offers allows clients to stay connected to the markets, with news and quotes available for a range of markets. In addition to access to real-time quotes, clients can view their position and account status to get a quick snapshot of their portfolio.

Cons

Similar to the Just2Trade web-based platform, the mobile app has limited functionality. Clients can use the app as a supplementary platform but may require a desktop interface for advanced charting and analysis features.

Customer Support

2.5

Just2Trade offers several methods to contact the broker, including LiveChat, email, and phone. The broker also has a FAQ section on its website to answer commonly asked questions.

What you need to know

The FAQ section of Just2Trade's website offers the first point of reference for potential customers and attempts to answer some of their most common questions. For queries beyond the scope of the FAQ section, the LiveChat feature, found on the lower right hand side of the broker's website, offers prompt responses. Alternatively, phone and email support are also available.

Research & Insights

3.1

Just2Trade offers a self-directed account and expects clients to do their own research, providing few tools for research and market analytics. The highlight, available through the client cabinet, is Morningstar's research utility. The interface is limited in terms of U.S. equities and does not appear to differ from the free interface available directly from the Morningstar website.

Financials
Balance sheet, cash flow, and an Inc. statement is available through the Morningstar offering
Valuations
Valuations and Wall Street estimates
Key Ratios
Includes profit, growth, cash flow, and efficiency ratios
Industry Peers
Basic financial info such as net income and price earnings for peers
Insider Trading
Overview of insider trading
Performance
Total returns, price history, and dividends and splits

Pros

Just2Trade's Trading Assistance section in its trader's cabinet offers easy access to research, top news, and an earnings calendar. News can also be viewed directly through the web-based platform and can be filtered based on a user-created watchlist.

Cons

Just2Trade's research offerings, which are mostly available at no charge, come from third-party sources, so the brokerage has little unique content. Clients who rely on analyst recommendations and other research data will need to source their own information.

Education

The bulk of the educational material offered by Just2Trade is specific to setting up a new account and getting acquainted with its trading platforms. The broker occasionally offers webinars that cover the basic principles of trading.

Videos
Account Setup and Trading Platform
Webinars
Basic Trading Guidance

What you need to know

The broker's education offering is meant to help new clients set up an account and get started with their first trade, but clients will have to source their own information for anything outside of basic trading functionality.

Bottom Line

Just2Trade's advantage is the combination of a competitive commission structure and a low barrier of entry, with a minimum investment of only $2,500. However, potential clients should take into consideration whether saving money on commissions outweighs the broker's general lack of features. This holds especially true for clients who are drawn by the low minimum investment requirement but are unable to conduct many trades because of the $25,000 day-trader minimum requirement. Active traders will have a hard time finding a broker with spreads as competitive as Just2Trade's tiered structure plan, but they should be prepared to spend a minimum of $333 in commissions in a calendar month.

Jignesh Davda
Reviewed by Jignesh Davda

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