Just2trade Online Broker Review

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Just2trade provides low commission trading fee of $2.50 per trade. It offers stock trading, option, exchange traded fund (ETF), mutual fund, etc. This article provides the review in details.

How to spot a good brokerage?
Just2trade Broker Review

Trying to find reliable brokerage can be a pain for regular investor. Just2trade is one of the online discount brokerage which I have used since 2010. I also have used other trading platforms such as Fidelity, Zecco, Vanguard, MerrillEdge, and Lightspeed. For me, the brokerage needs to satisfy the following requirement:
  • It has low commission fees to trade stocks, etf, mutual funds (if necessary)
  • Investor can access a stable trading platform
  • It offers ACH electronic transfer for fund transferring
  • It provides responsive customer service
Background

Just2trade is established in 2006. It is part of Success Trade Securities, an industry veteran with decade experience in brokerage. Success Trade Securities also provides other platform such as Lowtrades. Just2trade is targeting mostly experience traders or investors. Just2trade requires 2 years trading experience to sign up with its service.

It currently uses Legent Clearing LLC as their clearing. Legent Clearing, member of FINRA & SIPC, holds and clears all Just2Trade client assets. All Just2Trade accounts are insured under SIPC and supplemental Lloyd’s of London coverage provided by our clearing firm, Legent Clearing LLC.

Products and Services

Just2trade offers product such as stocks, options, mutual funds. The minimum fund to open an account with Just2trade is $2500. There is no inactivity fee. For foreigner (non US citizen), you can open Just2trade account as well.
Just2trade login page
  • Products Offering: Stocks, options, mutual funds
  • Market Orders: $2.50 per trade
  • Limit Orders: $2.50 per trade
  • Mutual Funds: $2.50 per trade
  • Options: $2.50 per trade + $0.50 per contract
  • Minimum fund to Open: $2500
  • Account Inactivity Fee: $0.00
  • Other Fees: Tender Fee: $25.00. ACAT Out: $50.00.
  • Maximum Margin Rate: Please check website
J2Trader | Just2Trade Trading Platform Just2trade provides accounts to individuals, joint holders, retirement accounts, etc. Other accounts are IRA, Educational Savings Accounts and Employee Pensions accounts. Entities like Sole Proprietorships, Partnerships, Limited Liability Companies, Corporations and Trusts make up their clientele.

How to open Just2trade account?

Opening account is straight forward though it will be slightly slower than typical brokerage. You can either apply online or print out the form and fill them. Previous, I fill the form online and print out the form. Later, I mailed the form and submitted the copy thru fax/online as well. My account was opened within 1 week after I send my application.

Personal experience

I have deal with various discount brokerages. I started investing with Fidelity on 2006, mainly buying mutual fund. I then tried Zecco due to their no commission fees. However due to limit of 10 free trades per month & $25,000 limits to get the free trades, I branched out to Just2trade. It has one of low commission.

I started using Just2trade on 2009. In comparison with other brokerage, just2trade offers low commission for trading. It only cost $2.50 for trade. There is no limit for amount of shares. This means trading 1 share or 10 shares or 1000 shares will cost only $2.50/trade. Trading option will cost $2.50+$0.50/contract. So, 3 contract of options, you will pay $4.00 ($2.50+ 3 x $0.50). Margin rates are also competitive. The current margin rates are as follow (per July 30th, 2010). To open an account, you need to fund of $2,500.

The trading platform is very simple and responsive. I can place either a Market order, Limit order, Stop Loss, Stop Limit, Market on Close, and Trailing Stop. I also can trade pre market and post market hours which can be very useful.

Just2trade has 2 type of platforms (web-based & J2trader). I usually access them through web. Your computer also needs to support Java application hence the trading system is run thru Java. It also provides J2trader as trading platform. I also like its in-house trading tools like Maxit tax software that are available online. Maxit provides access to all tax related issues in trading. Other features like sales figures, stock alerts, market data and transaction details, options and mutual fund screeners are available in real-time. It also provides Zacks Screener to screen various stocks and mutual funds. I only use just2trade to trade stock & etf. I never use it to buy mutual fund, but I believe it should be very straight forward as well.

I usually email the customer service if I have any issue. The customer service is very responsive. Other people have mentioned a non-responsive customer service, though I never have any issue.

Complaints - from research

Couple complaints about Just2trade that I found:
Just2trade Morningstar Screen
  1. On 2007, there is an issue with their previous clearing house, North American Clearing. It has had their assets frozen by the SEC pending fraud investigation and this has resulted in inability to liquidate the customer asset. This happens for 2 weeks and has been resolved. Current clearing house is Legent Clearing.
  2. Little to No support for beginner or novice investors
  3. Incorrect cash balances and other account balance discrepancies.
  4. Little choice of mutual funds
  5. Minimum $2,500 account balance requirement
  6. Too basic trading platform & difficult to navigate
Awards

Just2trade is feature in SmartMoney and Kiplinger magazine as one of best brokerage with low fees & commissions.
Just2Trade Awards

Disclaimer: I have no affiliation with Just2trade other than I use it for trading. Please do your own research for additional details. All information is as updated as June 3, 2012. Please trade responsibly.

Mean Reversion System update on July 20, 2010

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This post is about Mean Reversion System update on July 20, 2010. I executed my Mean Reversion System order for SPY with MOC order. With the price action today, I'll sell this SPY tomorrow EOD. And I'll go Short SPY. Really like this system with 3 Win out of 3 Round Trip since I start using it.

BPSPX Bullish Index | Chart of The Day

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This post is about BPSPX Bullish Index (Chart of The Day) on July 14, 2010. I provide stock analysis.




The BPSPX, also known as S&P 500 Bullish Percent Index, measures the breadth of the Standard & Poor's 500. Investors use the BPSPX to identify high and low levels of the S&P 500 index.

Many technical analysts use the BPSPX ($BPSPX at Stockcharts) to identify changes in the trend of the S&P 500.
  • A reading above 70% is considered overbought with 80 considered an extremely overbought situation. When the BPSPX falls through the 70 level a sell signal is given.
  • Oversold signals are given when the BPSPX gives a reading below 30%, while 20% is considered a better oversold indication. The BPSPX Index gives buy signals when it turns up through the 30% threshold, reversing its downtrend.

Picture of the day - Bryce Canyon Inspiration Point

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The following picture can be found at the following link Suwandi Chandra Photography

Update: Mean Reversion System on S&P 500

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This post is about an Update of Mean Reversion System on S&P 500 on July 13, 2010.

I sold my SPY at close of day for $109.66 (purchased at $109.23). The system called for Sell SHORT of SPY. I didn't execute the short. I'll do so tomorrow morning if the market gap up.

Stay on course & wait for short squeeze

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The action in stock market provides an opportunity over the long run. I think investor should stay on course & wait for short squeeze.


Market is up this morning. Dow Jones is up 127 points & S&P500 is up 12 points. I'll looking to take some money off later during the day probably near the end of the day. Good luck for today.

Free Amazon Prime Membership for College Student

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This post is about Free Amazon Prime Membership for College Student in July 2010.

Amazon is offering 1 year Free Amazon Prime Membership for College Students. All students should currently be enrolled with valid .edu email address.


 

Update on July 12, 2010 - Pullback is healthy

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This is a stock update on July 12, 2010. The stock action of pullback is healthy over the long run. Any pullback today and/or tomorrow to level S&P 1050 - 1060 is healthy. The market has advance 4 days in a row from low S&P 1015ish to 1070ish.

Mean Reversion System on S&P 500

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This is an update for Mean Reversion System on S&P 500 on July 11, 2010.

With close of SPY (S&P 500 ETF) at $107.96 on Friday. My trading of SPY is still LONG. I'm long since 6/23/2010 at $109.23.

World Cup Match Results: Netherlands vs Spain - 0-1

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Spain won the grinding match..... many miss opportunities from both sides. 12 yellow cards & 1 red card.

World Cup Match Results: Netherlands vs Spain - FIFA World

Beaten up Large Cap - Good fundamental & Low Technical stocks

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This post is about the Beaten up Large Cap companies with Good fundamental & Low Technical stock. The stocks are Best Buy, Ingersoll Rand, and Adobe.
Beaten up Large Cap

Adobe - ADBE
  • Market Cap: $14.79 Billion
  • Trailing P/E: 19.13
  • Forward P/E: 11.13
  • PEG Ratio (5 yr expected): 1.33
  • Price/Sales (ttm): 3.64
  • Price/Book (mrq): 2.57
Adobe - ADBE

Analyst target: $25.00 - $49.00 Mean: $40.16

Ingersoll Rand - IR
  • Market Cap: $11.92 Billion
  • Enterprise Value: $14.47 Billion
  • Trailing P/E (ttm, intraday): 25.83
  • Forward P/E (fye Dec 31, 2013): 10.90
  • PEG Ratio (5 yr expected)1: 1.08
  • Price/Sales (ttm): 0.84
  • Price/Book (mrq): 1.71
Ingersoll Rand - IR

Analyst target: $35.00 - $59.00 Mean: $43.63

Best Buy - BBY
  • Index: S&P 500
  • Market Cap: $6.26 Billion
  • P/S: 0.12
  • P/B: 1.45
  • P/C: 4.52
  • EPS next 5Y: 5.68%
  • ROA: 1.92%
  • ROE: -19.41%
  • ROI: 4.11%
  • Beta: 1.29
  • ATR: 0.58
  • Volatility: 2.56%-3.16%
  • Dividend %: 3.50%
Best Buy - BBY

Analyst target: $38.00 - $58.00 Mean: $47.22


Disclaimer: No position on above stock.