Ustocktrade is an alternate solution trading system (ATS) based in Newton, Massachusetts, that operates under the slogan “Wall Street to Main Street. A peer-to-peer stock trading platform that does not require a third-party broker. Buy and sell orders are instead matched inside Ustocktrade’s network. They can maintain their membership costs to a modest $1 per month, with $1 trades, by eliminating the need for brokers. Additional benefits include speedier settlement and the ability to obtain a better price on investment.
Know about UstockTrade before you sign up:
Tony Weerasinghe, the former head of worldwide development for the London Stock Exchange Group, established the stock trading platform at the beginning of 2016 when the firm began operations. Ustocktrade is funded by Weeresinghe on his own.
“You Stock Trade” is the origin of the Ustocktrade slogan. Students and other beginner investors are targeted by the service, which only trades securities listed on U.S. markets. Bank account links are required for Ustocktrade users.
Good deeds that are being performed by Ustocktrade:
Some of the world’s most underprivileged children will be educated by the foundation, which is committed to this cause. Children in need are provided with a world-class education via the creation of self-sustaining board schools across the world as The Cainan Foundation, a 501(c)(3) tax-exempt organization, receives financial assistance from the firm.
Pricing structures of Ustocktrade:
Following is a breakdown of the Ustocktrade fees:
- Members pay a monthly fee of $1
- Purchase and sale costs are $1 per transaction (plus all applicable regulatory fees)
- ACH (Automated Clearing House): We don’t charge for entry or exit
- From another broker (both ACAT and non-ACAT) Customer Account Transfer In although this option has not yet been implemented, there is no charge.
- Transferring your account to another broker (both with ACAT and without ACAT): $40
- Repo (ACH Items): $20 Returned on Bank Funds Transfer
What Features UstockTrade offers to its users?
Achieve same-day settlement of trade stock trade uses a system called “T+0.” It might take up to three days for traditional brokers to settle securities deals into your account; this is called “T+3.” A three-day hold on your sales proceeds makes it tough to acquire and sell several equities on the same day. Read more about 5 Tips to Become A More Efficient Trader.
- A practicing stock trading simulator
Using the Ustocktrade Trading Simulator, you may practice trading without taking any risks. Paper trading is free to use, and it offers you virtual cash to start practicing investing using actual market data. Prepare for legitimate investing without putting your own money on the line.
- Investing options
The majority of equity securities listed on U.S. stock exchanges are currently available to invest in through Ustocktrade.com, including You may also invest in 92 ETFs and eight ETNs with them.
- Protecting your account
Sips coverage is included in your Ustocktrade account. This covers the value of your account up to $5000, plus $250,000 in cash.
- The maximum amount of money you may deposit
There is no set minimum option in Ustocktrade. Buying or selling orders are subject to a $10,000 maximum trading limit. Retail investors will only be able to access the platform as a result of this. Ustocktrade, as mentioned above, is geared at college students and new investors.
What are some downsides of using UstockTrade?
- Ustocktrade is a restricted trading platform in its current configuration.
- Existing investments cannot transfer to Ustocktrade.
- Each trade order is limited to a maximum of $10,000.
- To keep your bank account and investments separate, you’ll have to link them together.
- The platform does not support short-selling or margin trading if that’s something you’re interested in.
At this time, there is just one method of communication: email.