What s Better Than Robinhood?! I My Review Of Tradezero

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“Everybody thanks much for tuning in to young money investments. My name is cameron bennion bennion and today. We are going to be talking about a video that i had you from last week in response to last week s video talking about robin hood. And why i don t see a lot of benefits for new traders.

Or experienced traders in general. I did get a lot of comments and things like that about well. If you don t like robin hood. What do you like and today.

We are gonna get into what i like and what i think is probably one of the best brokers to start out using as a new trader and how to actually save a lot of money in terms of paying for fees. Commissions brokers charges and things like that so let s jump into this right now alright guys so like i was saying. Today s video is going to be focused on the topic of the platform trade. 0.

This is gonna be my honest opinion review of trade 0. With that being said i have barely just really started to get into the platform today. It was actually my first day really diving into it getting to play with it quite a bit and kind of seeing how everything works out. I m gonna do an update and kind of a you know how are things going video later.

But as i said i promise this video earlier on from last week. That i would get into this video a little bit more in depth as a lot of you wanted to know a little bit more. So. Let s review a little bit of the the data about trade.

0. And i can kind of explain my thoughts and preferences now that my account is live and actually funded and this is gonna be kind of my public day trading account that i m gonna be using so let s jump into it really quick we re gonna pull up the screen here and we are gonna have this is like the trade 0 website. So once i got all my information all filled out it probably was about a week and a half two week process. Honestly and truly that was because of new year s because of christmas.

All those holidays and things like that but it did take a while i hated that i had to wire money and i couldn t just ach transfer it in so i had to pay the wire fee. Which was like 20. He was 20 bucks at my bank. Some banks are 25.

I think chase if you go in it s like 35. Which is super stupid anyway so i wired in my money. After you get your account and everything i ll set up funded ready to go you are able to log into your platform. So once you log in you re gonna be on this screen.

You re going to get to choose a couple of different options your first option. Obviously is going to be the free option. It s gonna cost you nothing per month. It s not gonna cost you anything for your trades.

But with that you don t really get hardly anything. But i wanted to show you that because i want to kind of show you how you can get around this. But you have your options here. Where you have trade zero free.

And so you get the web based browser. As well as the app on the smartphone. Which i really should kind of show you the app on the smartphone..

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It s actually pretty cool. But what you can actually do here is with trade zero free you re able to actually go on here. And you can use different add ons. If you want to be able to like see the level one for example with some of this data you can add that on for 9 per month.

If you want to add a level 2 hotkeys so it instantly buys or sells based off of level 2. And everything that s gonna be 25 per month options trading again 25 per month. Oc otc markets. Which is over the counter market that s gonna be 5 per month for level 1 level.

2. Is going to be 15 per month. Now the other thing that you have as an option. Though is the zero pro and zero web browsers as well your cost.

Where that s going to be 50 60 bucks basically. 60. Bucks a month for that platform. If you re in the d o t.

Sees like brad is obviously you re gonna want to obviously buy this level one at least for the otc s. If not level 2. I don t know if you d need level 2. Quite honestly for otc s.

But it would be hopeful. I think if you re if you re heavily involved in that because like i said this video is more geared towards you newer investors the goal with this is to actually go with the free option. And so i ve done everything free the browser the way i set everything up i am paying trade zero no money per month. And this is going to be this setup that you actually get so when you log into your account.

Here you re going to have your account information. You re gonna have the time date you re going to have again your account you can log out and it s very very basic there s not a whole lot to this i mean to this area. I mean i think on here. I can type in apple.

And we can pull up another chart here. Which gives you a little bit larger. One you also have a chart right here. Which is kind of nice do you get two charts on here.

If you want to add more charts that is a cost thing you do have to pay for that so it is a very basic can you do pay for the features that you want to get in here you have your watchlist. So you can create a watchlist here i have you guys digas. I ve apple alibaba ea sports. Activision tesla.

Eli amazon these are all companies that i have long positions in but i take that back you guys indie guys i m not long or short and either of those as of right now. But these are some of my long term holds that i ve currently gotten into apple is one that i just barely bought a few shares and so i m with the massive massive massive nine almost ten percent drop today one of the companies. This is one of the things that s interesting with trade zero. Is that you are able to actually short with trade zero.

So right here you have for example ticker. Symbol k toss. So k table was up a massive massive massive amount today and this is one that actually ended up shorting today..

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And doing very well on actually shorting it right here up mostly towards the top and ended up just making. I wanna say he made like 40 okay he freakin crushed it today on k tov. But one of the things that you do if you want to short a couple. A company cuz you re going to go down here gonna go kto v and you re gonna click locate what sorry you re gonna go number of shares let s say i want a thousand shares you re gonna go locate it s a hard to borrow stock which means.

It s hard for a lot of brokers to find that stock for example brokers like td ameritrade. Which i can pull up over here would not have that ability to pull up k top. I was if i wanted to short this on td ameritrade things. It s not possible they don t have the shares to find so on your broker here with trade zero.

You actually can t short it. But it s hard to borrow what that means is they re going to charge you quite a heavy fee in order to short those shares that cost too short that is three cents per share. What s which to me is very expensive considering right now it s trading at a dollar. 16 and you re almost paying 2.

Point what that s gotta be like 27. Percent. It s very expensive too short k. Toggle on here.

One of the things that i found with this stock. And this is kind of my thought process. When rhett was shorting this on center point instead of it costing me. 30 for every thousand shares.

It was only costing him 6 per. Every thousand shares so on center point. It was a lot cheaper now granted. He has commission fees and things like that so every buy he has it s like 6 for every sell it s like.

6. Something in that range so that s something i don t really like about trade zero. So far and just exploring the the platform is that too short some of these hard to locate companies. I found that it s even more expensive than trade zero with that being said.

I m sorry then center point with that being said trade. 0. Does not require a maximum amount of money in your account. And there is no commission fees where a center point is going to charge you for every buy in every.

Cell they are also going to require a minimum of 30000. In your account. Which a lot of people cannot afford that and there s some other big fees and those kinds of things that centrepointe does charge like monthly or quarterly fees things of that nature if you re not trading enough so for new traders again not an option not something you d want to really think about so. What you re going to do on here is if you are wanting to buy or place.

A trade whether it s by short or you know by long you come up here. You enter the ticker symbol right here again let s say it so you want to do amzn. Which is amazon right. There you re going to show that it s one thousand four hundred ninety four dollars per share.

We want to buy let s say if five shares of that we want a limit order. We want a price of fourteen ninety. Five stop price acceptor etc..

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Good for the day and you re going to click buy or you re gonna click sell sorry here buy it or you re gonna click short if you want to sell your shares you have you re gonna click sell if you want to cover your short position and buy back the shares that you ve shorted you re gonna click that there so very simple very intuitive very easy to follow one of the other things up. Here is it s going to show you obviously that i ve had zero realized gains. Today s your unrealized. My peeing on everything on the day was zero didn t end up trading anything buying powers two to one during the during like all hours of the day during intraday trading.

You do have four to one buying power odd so instead of being able to use just ten thousand dollars or twenty thousand to i actually get to see tired about their after. Um you actually get to trade 40000. Worth of like shares and things of that nature. So that is nice.

But you do need to be very careful trading on margin. If you are a new trader. My recommendation because these charts are so horrible down up there again you have two charts on here on the free platform. You ve another chart down here.

Which is a little bit larger again it s nice and that it is a little bit larger. But i would not. Recommend. Trading.

On this. Platform. It. Just.

Is. Tu. Tu. Tu.

Tu. Tu. Tu. Basic.

And i did. Get. An. Email.

Stating. That. This year. Actually in quarter.

One they re gonna be updating this and making this a lot better to use and so this is good this is going to get better with time. But because it s so new. It has a lot of inadequacies. Quite honestly what i would recommend doing if i were a trader is i would download something like the thinkorswim platform and i would use this i ve been a very big fan of this a lot of you are going to be paper trading on td ameritrade.

Thinkorswim platform. You re going to be very familiar with it the chart patterns. The setups..

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How to use your key indicators and things of that nature. We re trading. The same stock on here. So i would watch and use my trend.

Lines and everything. Like that on this platform use my v. Wap everything like that your rsi to then make your trade on your secondary platform. So i can move this down trade on trade 0.

But do everything here on fingers swim. It s also going to give you access to level 2 data. Which is absolutely furry doesn t cost you anything and then that way you could actually do all of your research and analysis use your two computer screens. And do that side by side.

I think that is honestly and truly going to be the very best setup for new traders. Even for those that have traded for quite some time this is going to save you money. I mean i i may one day end up trying that you know their services for 60 a month. And seeing how that goes and maybe i ll go hey that 60 bucks is worth it this is my profession.

But the cheap frugal part of me goes dang. You know what i could do with what is that seven hundred and twenty dollars a year that s a lot of money and if i have free tools such as td ameritrade sphincter swim. Why would i not end up using that so those are some of my thoughts. So those are some of my just opinions in terms of what i ve seen so far with trade zero.

I do think like i said. They re shorts and they re hard to borrow list is a little expensive. It s a little bit pricey so i m not in love with that but overall. I think.

This is going to be a much much much much better option than robin hood. Because it teaches you how to short and long a position because the reality is is that in this market. If you are not learning. How to the short side as well as the long side you re limiting your abilities to make money.

And the goal of this is obviously education right. But the goal is to take the education and make money so that is my short brief analysis of the trade 0 platform. I hope you found that enjoyable. I hope you found that interesting and informative.

If you have any other questions make sure to leave them down in the comment section. Please subscribe to the channel. If you ve not done that already i m going to be continuing to put out more and more and more content. The course is almost done the course of almost done after this video.

I m gonna be filming more for the course as well that will walk you through step by step how to trade like myself how to long positions. What i see what i look for and how to understand all these key indicators that i m talking about so. If you ve ever thought about that and want a little bit more help for myself. That s that s another great option so thank you so much for tuning into young money investments.

I will talk to y all later bye. ” ..

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