Let’s take a look at a company that has been quietly making a name for itself in the options trading brokerage industry.
What Is Spartan Trade?
Spartan Trade is a great broker specializing in options trading for beginners and experienced traders. The company has been slowly increasing its market share in recent years. Today, Spartan Trade is considered to be a great options broker for traders in the financial industry.
The company has been operating as an online broker for options traders for years now. Spartan Trade offers a wide range of investment products for traders and investors by giving them the ability to trade Stocks, Options, Futures, Bonds, Exchange Traded Funds, and Mutual Funds.
Advantages of Spartan Trade
No minimum opening deposit
It costs absolutely nothing to open a Spartan Trade account. There are no account minimums and no minimum balances are needed to keep the account open. There are very few brokers that do not require clients to fund their accounts with $500 or more. There are no maintenance fees or account inactivity fees.
Spartan Trade is loaded with tools to help the individual investor. The investor education section is particularly useful. The company offers webinars, tutorials, and workshops, all for free. There are free live events, Q&A sessions, and breakout sessions. The comprehensive research center offers articles, newsletters, and a personal coaching session. There are research reports, analyst reports, market commentary, and property analysis tools for investors. All of these tools will help traders formulate their options trading strategy. Many of these great research futures are not available with other online brokers.
Spartan Trade has a great virtual trading platform that finds, analyses, executes and monitors your portfolio. The screening tool filters investment opportunities based on your specific criteria. Once you’ve evaluated your options, the Strategy Analysis tool analyzes your trade to detail the maximum profit and loss on your potential investment. The Watch List tools execute your trading plan and monitor the performance of your investment.
A unique aspect of Spartan Trade is its future trading products. Many brokers do not offer futures trading options to everyday investors. At Spartan Trade, traders can buy and sell energy futures, metal futures, commodity futures, interest rate futures, and index futures.
Spartan Trade has an edge over the competition with its customer service. The company offers free trading with a brokerage, which is a rarity in the brokerage industry. Some brokers charge up to $30 for live assistance from a broker.
Spartan Trade is an extremely secure option trading brokerage platform and is regulated by several international regulatory bodies. Traders may trade with total confidence with Spartan Trade. Customer information is not shared or disclosed with other parties by Spartan Trade.
Disadvantages of Spartan Trade
While trading fees are low; they are not as low as other intermediaries. It costs little bucks to trade stocks, bonds, mutual funds, and ETFs. Call options are cheap, but you can find cheaper options from other options brokers, although the difference is quite negligible. Personally, We think Spartan Trade makes up for it with the other excellent services it provides above and beyond what its competitors offer.
How Spartan Trade works
Opening a Spartan Trade account is an easy process. You can open your account in less than 5 minutes:
- Select the name and type of account you would like to open.
- Create your profile by entering your name, address, social security number, date of birth, and employer name and address.
- Accept the terms and conditions.
- Sign the account forms and mail them back.
- Fund your account via ACH, check, account transfer, or wire transfer.
After reviewing Spartan Trade, we’re convinced that the broker is a great brokerage platform available for options traders. Inexperienced and experienced traders can easily navigate the Spartan Trade site. The site is easy to use and has everything the option investor is looking for. The futures trading platform is a bonus and is useful for speculative investors. The educational center is ideal for beginning investors because they can gain a better understanding of the different types of options and strategies available. Trading tools, research reports, and customer service help set up Spartan Trade. On top of all this, they offer the basic stock, bond, and ETF investment services that your average broker would offer.
The only potential drawback is the price. The company may be the best in class, but it’s not the lowest cost option in the industry. Traders looking for the cheapest broker without worrying about other services might look elsewhere. All in all, Spartan Trade is a real bargain when you consider how much information and tools you get for using the platform.