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.
- Commission-free stock, ETF, and options trading
- Standard plan is free. Pro plan is $10 per month
- No per contract options fee on mobile-only plan
Tradier Brokerage Details
$0 to $10
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 and another $24.6M in Series B. The average account size is $30,000 and does 150 trades per month.
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.
Dash is a web-based trading platform. It is included in the free plan and offers advanced orders, order and position sorting, paper trading, and the ability to view multiple chains.
This platform has over 1,000 active traders and over a billion API calls per month.
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 is part of the Pro plan, which costs $10 per month. Subscribers 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.
The Tradier Hub is where you can connect with other active traders. There are daily shows from industry thought leaders, content around different trading styles, and general support to help you grow your investing skills.
Some recent webinars include topics such as Why Most Option Traders Lose Money and An Introduction to Autotrading.
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.
11016 Rushmore Dr., Suite 350,
Charlotte, NC 28277
+1 (980) 272-3880
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:
Options Per Contract Fee
$0 to $0.35
$0 to $10
How Do I Open An Account?
To get started, visit Tradier and click the sign up 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.
Tradier Brokerage Features
Options Per Contract Fee
Options Assignment Fee
Charged on accounts that fall below $2,000 and make less than two trades per year
Access to Human Advisors
Access to Robo-Advisor Portfolios
Extended Hours Trading
Customer Service Number
Customer Service Email
Mobile App Availability
iOS and Android
Tradier Brokerage Review
Commissions And Fees
Ease of Use
Tools and Resources
Tradier Brokerage offers unlimited trading for one flat monthly fee and its mobile-only traders don’t pay any per contract fees.
- Free plan available
- Great for developers
- No per contract fees on some plans
- Able to handle complex orders
- $10 monthly fee for Pro plan
- Can’t trade mutual funds or futures
- Inactivity fee if requirements aren’t met
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.