Tradier Review – An Online Brokerage With Customizable Platforms

About Tradier

Tradier is an online brokerage that offers fully customizable platform options providing users choice and flexibility selecting from a wide assortment of platforms and software add-ons to best meet their needs. This is made possible through Tradier’s open collaboration platform utilizing API integration that provides seamless access to over 100 third-party partners. 

Founder and CEO Dan Raju is the driving force cementing relationships with many industry partners to provide some of the most innovative brokerage products for customers. While many third-party software platforms serve as add-ons to existing broker platforms to execute trades, Tradier functions like a brokerage add-on to the software platforms, a true paradigm shift. This enables customers to experience multiple platforms through a single broker with seamless integration of trading and account data.  There are no account opening minimums, however, there is a $10 fee for opening an account under an entity. International accounts have a $20 account opening fee.

Tradier Commissions and Fees

Keep in mind that the commissions and fees are universal across all platforms. The trading commissions are straight-forward:

For stocks, commissions are $3.49-per order, no pink sheets or OTC-BB stocks. 

For options, a minimum commission of $5-per single leg or $7-per multi-leg at $0.35-per contract. Options assignment and exercise have a $9-commission.

Broker-assisted trades are an additional $10 + commission.

Any regulatory fees are passed onto the trader.

The fees for administration, account management and funds transfers are:

Wire transfers are $30-per transaction.

Automated customer account transfers (ACAT) are $75 and Depository transfer check (DTC) are $25-per position.

Inactivity Fees for domestic accounts under $2,000 are $50-per year and $20-per month for international accounts with less than two-trades per month.

Tradier sends statements electronically so users need to be aware of the $6-per paper statement and $3-per paper confirmation fees. 

Software Platform Fees

Each partner platform may have additional fees for Tradier customers. Software and platform fees are separate and vary among the partner platforms. Each vendor lists the fees with information on setting up an account. It’s best to check them out individually. Customers can wean through the list and select which platforms to consider. Many offer free trials and well as special promotions. Each partner page details the platform, pricing and link to Open an Account and connect.

Tradier Platform Partners

Tradier is uniquely positioned as a platform integrator and brokerage. This means users are free to select their own platforms integrated with Tradier brokerage. Platforms from charting, modeling, research and analysis to full-scale commission-free trading are available. Most platforms have a free trial period. Mobile-only access can range from $20 to $40-per month on the trading platforms. These are some of my favorite platforms:

TradeHawk

For cost-conscious traders seeking a one-stop comprehensive trading platform for commission-free stock and options trades, TradeHawk has the best of all worlds. From advanced charting to trade execution, strategy and risk analysis and modeling, this platform has the depth to accommodate serious equities and options traders. They offer a free 60-day trial with a simulator account. The Pro stock and options pan costs $69 per-month with the Tradier commissions rates. The unlimited commission-free plan is a $159-per month membership, best for active traders.

OptionVue

For sophisticated options traders that rely heavily on analytics and modeling, OptionVue is an ideal platform. Traders can assess What-If risk scenarios to optimize models and execute strategies for income generation. Historical options data is available all the way back to 2001 with full-scale back-testing capacity and simulations. It also has one of the most powerful option scanners enabling traders to spot, stalk and execute based on exact parameters and set-ups. Free trials are available.

eSignal

As one of the oldest data platform providers, eSignal has all the bells-and-whistles suitable for active traders to self-directed investors. It is also one of the most stable platforms having stood the test of time since the beginning of the online trading era. This platform has advanced charting with a vast library of technical indicators including Elliott Wave tools, analytics, scanners, newsfeeds and numerous customized third-party plug-ins. Tradier can seamlessly connect to the platform to execute trades through market depth level 2, chart-based or DOM.

MotiveWave

MotiveWave is another one of the featured platforms. I like this niche charting platform that caters to traders with an affinity for harmonic Fibonacci-centric technical analysis including harmonic patterns (Gartley, Bats, Crabs, Butterflies), Gann and Elliott Wave. Users can apply scanning, back-testing, analysis and optimization to stocks and options. 

The pattern identification is amazingly accurate, which is a big accomplishment since most harmonic patterns are very specific to five-points and precision ratios within and between the points. Users also have the flexibility to customize the counts and adjust model parameters. The software cost is tiered to the number of monthly trades generated. Tradier customers can get MotiveWave free with over 50-trades per-month. 

Equities Lab

For data-heavy quantitative traders that have a penchant for analytics, back-testing and strategy development, Equities Lab is ideal.  Tradier customers can kick the tires for 2-months free and then $29-per month after.

Customer Service

Each of the individual platforms have their own direct customer service. Tradier customer service is available through e-mail at service@tradierbrokerage.com and phone support Monday-through-Friday from 8:00 AM to 5:00 PM EST.

What Type of Trader Tradier Is Best For?

Tradier is best suited for experienced traders that know what they want in their trading platform, because they have found voids in existing and past platforms. Beginners willing to kick the tires and test out the many platforms are well-suited as well. There is a learning curve involved with each individual platform, but those willing to take the time to seek out the ones that meet their needs will get the most out of Tradier. I like having access to so many different platforms to compare through the free trials. It almost feels like a “food court” of trading tools where Tradier is the wallet and you get to test and sample all the “goodies” before deciding on what entrees you want for your meal, a platform you personalize through discovery and integration of the best tools by sampling first. 

Pros

• One-stop “food court” model enables traders to assemble their ultimate platform
• Flexibility to alternate and swap out platforms
• Discounted and exclusive rates and terms on software through Tradier
• Great opportunity to discover new platforms
• Subscription-based commission-free providers like TradeHawk
• Friendly and knowledgeable customer support

Cons

• Too many choices can be overwhelming for beginners
• Commission-free trading from major discount brokers can make Tradier seem expensive