Tradier Brokerage Review: Flat-Fee Trading On Stocks, ETFs, And Options

If your trading needs are fairly basic or nothing out of the ordinary, most any brokerage will suit your needs. They’re pretty much all commission-free at this point.

But if you do lots of options trading, need to enter in advanced orders, or conduct deep research, you’ll want a specialized broker.

In this article, we’ll review Tradier, who can meet all of the above needs, and more. They provide back-end data services that let you layer on a front-end. Or, you can just go with their front-end. Let’s take a look at how Tradier works.

What Is Tradier Brokerage?

Tradier is an online brokerage that offers its own trading platform and an API for other brokerages to plug into. Tradier was formed in 2012 and is based in Charlotte, NC. Its CEO is Dan Raju.

Tradier has raised $6.1M through a Series A, although its last round was a convertible note round. In March 2021, Tradier acquired Rho, a commission-free trading platform, for an undisclosed amount.

What Does It Offer?

Tradier is a little different from other online brokerages. Previously, its main product was its back-end service or API (application programming interface). But recently it launched a front-end facing product as well. Here’s what both offer.

Tradier Brokerage API For Developers 

Developers or advisors can use the Tradier Brokerage API to connect with a front-end or UI (user interface). The API brings data to the front-end.

When you use a traditional brokerage, all you see is the front-end trading platform. But it’s still fed by an API. Tradier lets developers attach to a list of front-ends and there are quite a few there.

If you’re not a developer, you probably don’t need that much flexibility. In that case, you can just use Tradier’s new front-end service called TradeHawk.

TradeHawk Platform For Traders

TradeHawk is Tradier’s front-end trading platform. Rather than having to go off and find a front-end then integrate it, TradeHawk makes the process seamless. It’s also very powerful. TradeHawk provides all of the following:

• Order entry
• Order management
• Risk analysis and simulation
• Alerts, charting
• Portfolio management
• Spread logs
• And lots more!

TradeHawk subscribers also receive a free paper trading account that provides $100,000 of money to trade risk-free. Other educational resources include TradeHawk’s pre-recorded video library and even 45-minute personal tours with TradeHawk Pros.

One of the downsides to TradeHawk, however, is that it only supports stock, options, and ETF trading. Currently, you can’t trade mutual funds on the platform. And, while less often needed, it should be noted that futures trading isn’t supported either.

Are There Any Fees?

TradeHawk is probably about as good as any advanced trading platform out there, but it’s not free. While there aren’t any trade commissions, you’ll pay a flat fee to use the service. The first month is free. After than, you can choose from three plans:

The per contract fee might look like a commission, but it actually isn’t. Before commissions were removed, brokers would also charge a flat rate to trade any number of options. Now it’s only the per contract fee that is charged.

There are several miscellaneous activity fees, however, a few of which are listed below:

You also need $2,000 in your account and at least two traders per year to avoid a $50 per year inactivity fee.

How Do I Contact Tradier?

Tradier claims to have great customer service, which means it should be easy to contact them. They certainly check all of the available contact point options.

However, we can’t say how long you’ll remain on hold when you call in or how long it will take them to respond to an email. Slow response times is a common issue across brokerage services.

Address:
11016 Rushmore Dr., Suite 350,
Charlotte, NC 28277

Email:
service@tradierbrokerage.com

Phone:
+1 (980) 272-3880

Customer Service

There aren’t any independent reviews for Tradier Brokerage. The only reference we were able to find is one review on the BBB website.

Better Business Bureau — 1 out of 5 stars review from one person. No open complaints. Tradier is not accredited with the BBB.

How Does Tradier Brokerage Compare?

Options trading is a big part of what Tradier is all about. We’ll compare it to other platforms that offer options trading and similar platform customizations. Check out this quick comparisons chart:

How Do I Open An Account?

To get started, visit Tradier and click the open an account button. The account opening process is basically like any other brokerage application. It requires filling in sensitive identification information, your trading experience, and linking a bank account. However, it usually takes less than five minutes to complete the application.

Is It Safe And Secure?

Yes, account holders get up to $500,000 of SIPC protection that would kick in if Tradier were to fail. But, like all investment platforms, your non-invested funds are not FDIC protected. Tradier’s website is encrypted.

Is It Worth It?

The only way to really know if Tradier is worth it is to try it out. If you’re into heavy customizations of your trading platform and do a lot of options trading, you might find a lot of benefit in a Tradier Brokerage subscription. 

But to be clear, Tradier is oriented to developers, advanced traders, and those who require complex orders. If that’s not you, you’ll probably be better off choosing a broker that doesn’t charge a monthly fee. You’ll also need to look elsewhere if you’re hoping to trade mutual funds or futures.

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Tradier Brokerage Features