Trade with free money

Customers of newcomer freetrade can only trade shares without incurring a broker charge if transacted outside an isa wrapper through it's 'basic trade' service.

Top forex bonuses

Is fee-free share dealing any good? Freetrade and Trading 212, trade with free money.

When buying a foreign stock, you'll also have factor in the cost of the converting currency. Trading 212 passes on the charge at the spot rate. Whereas freetrade charges spot rate plus 0.45 per cent on these transactions.

Trade with free money

The cost of buying and selling shares has fallen steeply since the start of the 2000s thanks to a digital revolution.

In the not too distance past, investors who wanted to buy and sell stocks and shares would have to do this through a stockbroker or a financial adviser who took a sizeable chunk of commission with every deal.

But times changed and online DIY investing platforms give investors the ability to buy and sell at their fingertips, whether from the comfort of their computer or even their phone.

The cost of buying and selling shares has fallen over time, but still remains sizeable at some platforms, with hargreaves lansdown charging £11.95, interactive investor £10 and AJ bell £9.95. Halifax-owned iweb deserves and honorable mention as it charges just £5

Trading 212 and freetrade both have an eye-catching offer designed to pull customers in: neither charges a penny to buy or sell shares.

But why offer this and who are these two firms?

For trading 212, it was a case of adding another string to its bow when contracts for difference (CFD) trading - one of its flagship offerings and main revenue driver -was hit by a regulatory crackdown.

A CFD is a form of derivative trading that allows you to speculate on the rising or falling prices of global financial markets, such as forex, indices, commodities, shares and treasuries. It carries a higher level of risk compared to conventional shares and bonds investments.

Crucially, investors do not buy shares but use derivatives to either simply mimic prices, or magnify moves through the use of leverage, as borrowed money is known.

New european rules, which came into effect in august last year, have reduced the amount CFD traders can leverage, as concern grew that big losses were being incurred by inexperienced investors. Britain's financial watchdog, the FCA is also tightening rules. These measures have trimmed CFD platforms's prospectts.

Trading 212 became the first retail broker in britain to introduced a commission-free share dealing service in 2017.

In the case of freetrade, commission-free share dealing, either through a standard account or isa, is the only service the digital broker currently offers. It plans to expand into new areas in future. It's free to open an isa account until july 2019. The cost will be £3 thereafter.

Both challenger investment platforms have adopted this model as a carrot to tempt customers away from established rivals, such as hargreaves lansdown, interactive investor and AJ bell.

The average commission charged by five of the largest online share-dealing platforms run at £8.31 per trade, with leading brokers such as hargreaves lansdown and interactive investor charging £11.95 and £10 respectively, according to DJB research.

Commission-free sharing dealing looks set to further disrupt a market that is already experiencing a downward pressure on investment fees amid regulatory pressure.

Where can you invest?

It's worth noting that freetrade's and trading 212 respective investment universe is relatively small compared to that of more established rivals.

A total of 335 stocks, etfs and investment trusts sit on the freetrade platform. The selection comprises of 122 US stocks and 136 UK securities - including 33 investment trusts and 44 etfs. The firm expects to increase this figure on an ongoing basis.

Meanwhile, trading 212 hosts more than 1,800 investment opportunities comprising shares in companies based in the UK, the US and in some european markets, as well as etfs.

To put this into perspective, hargreaves lansdown offers 1,643 UK shares, 7,184 overseas shares, 1,170 etfs and 386 investment trusts.

Crucially, neither trading 212 or freetrade allow you to invest in investment funds or individual corporate bonds outside an ETF.

Hargreaves, meanwhile, hosts 470 corporate bonds plus 7,099 funds from the UK and abroad.

Both trading 212 and freetrade offer an isa wrapper, but neither offer a self invested personal pension.

How do these platforms make money?

Ivan ashminov, co-founder of trading 212, told this is money that actual trading costs are less than £1, so waiving trading commission does not have a detrimental effect.

The charges levied on the platform's other services should more than cover a shortfall from these costs, he added.

Things to consider before moving platform

Investors are free to move DIY investing platform and should track down the one that is best for their needs.

However, they need to be aware of fees for moving from their existing platform and from one they sign up to if they don't like it.

Investors should calculate the potential annual saving they would make by switching and a reasonable expectation of investment growth under the new platform against the cost of moving and any exit fees.

Things like customer services offered by the respective platforms may seem like a small detail but can make the world of difference.

Trading 212 adopts a 'freemium' model - like mobile games that are free to download but have in app purchases - in the hope that some customers will shell out for additional services that it develops down the line, such as robo-advice on which stocks to buy.

Customers of newcomer freetrade can only trade shares without incurring a broker charge if transacted outside an isa wrapper through it's 'basic trade' service.

Basic trade means the buys and sells are aggregated and dealt around 4pm every day.

This isn't a huge problem if you plan on holding shares for a long time, but more experienced investors often want to be able to trade instantly at a set price.

Free trades are never quite free

There is no such thing as a free trade. Period.

This is because of a concept called the bid-offer spread, which is essentially the gap between the highest price a buyer is willing to pay you for shares and the lowest price a seller is willing to sell them to you for.

You will pay closer to the higher price to purchase a share and sell nearer the lower price.

The size of the gap depends on how liquid a share is, ie how easy it is to buy and sell, and larger companies therefore tend to have tighter spreads.

These prices are different to the mid-price, which is the one you will generally see quoted in market reports and headline share data.

At the time of publication, shares in tesco were trading at 234.05p, however, the offer was 234.1 and the bid was 234p. The spread here is 0.04 per cent. Another cost in buying shares is stamp duty charged at 0.5 per cent.

Freetrade was founded back in 2015 but officially launched its commission-free share dealing app in september 2018.

Will commission-free trading free trade last?

That's dependent on whether the model can pull enough people for these companies to make money off other things they charge for.

At some point, the platform's respective financial backers will want some return on their investment, and zero commission trading removes a major source of revenue.

Commission-free share trading is novel, but eventually investors might crave a more expansive investment universe, with access to more shares, funds and investment trusts.

So the main challenge for these platforms in future may be to keep hold of the customers they've lured in through the zero-commission share trading service by adding new features that complement their evolution as investors.

Both trading 212 and freetrade are legitimate digital stockbrokers, authorised and regulated by the FCA.

If either platforms ever go under, your investments are covered by up to £85,000 (up from £50,000 as of 1 april) under the financial services compensation scheme safety net.

The saying 'there's no such thing as a free lunch' certainly applies here. While basic share dealing services are free any bells and whistles cost more and there is the spread and tax to take into account.

Also, free trading may tempt you to change your investment style and invest more frequently than necessary. Doing so can increase internal costs and potentially hinder your long-term returns.

When weighing up the right platform to invest for you, it's important to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.

DIY INVESTING CHARGES SNAPSHOT

provider	admin charge	charges notes	fund dealing	standard share, investment trusts, ETF dealing	regular investing	dividend reinvestment
trading 212	n/a	-	n/a	free (investment trust trades unavailable)	n/a	n/a	more details
freetrade	n/a	-	n/a	free	n/a	n/a	more details
hargreaves lansdown	0.45%	capped at £45 a year for shares, trusts, etfs	free	£11.95	£1.50	1% (£1 min, £10 max)	more details
barclays direct investing*	0.2% on funds, 0.1% on other investments	min monthly fee £4, max £125	£3	£6	£1	free	more details
share centre	£57.60	-	1% £7.50 min	1% £7.50 min	0.5%, min £1	0.5%, min £1	more details

Trading 212

Trading 212, which was founded in bulgaria 16 years ago, has operated an online commodities and currency trading platform in the UK for five years. The firm became the first retail broker in britain to introduced a commission-free share dealing service in 2017.

The service, now called, trading 212 invest, provides access to stocks and etfs across the world’s leading stock exchanges and currencies, including cryptocurrencies, like bitcoin, and commodities.

Trading 212 doesn't levy an administration fees on trades, the only costs to be aware of are the bid-ask spread and the foreign exchange spot price when trading shares overseas. Money held in an isa incurs no additional charge.

Freetrade

Freetrade was founded back in 2015 by adam dodds, a former KPMG manager, but officially launched its commission-free share dealing app in september 2018.

In order to offer fee-free trading, freetrade got an FCA licence and joined the london stock exchange in order to processes its own 'basic' orders in bulk each day at 4pm.

The online broker does not levy for trades that are aggregated and dealt around 4pm every day. UK and US shares cost £1 to trade instantly and a foreign exchange charge which comprises of the spot rate (the price quoted for immediate settlement on a commodity, a security or a currency) plus 0.45 per cent.

Isas are currently free until july 2019 but will cost users £3 a month thereafter. Transferring money out of either an isa or general account into a bank account cost £5 a pop. The bid-ask spread costs also apply.

Coming soon? Etoro and revolut

Etoro could be the next the latest investment platform to launch a commission-free share dealing platform.

Users will be able to trade 1,340 shares that sit on the platform without incurring a broker fee. A spokesman for the firm said the service will land before the end of summer and it won't cap users' amount of free trading.

Digital-only bank revolut is also building a commission-free trading platform on its app, its latest bid to use technology to undercut traditional financial services.

Revolut said users will be able to buy and sell listed stocks in seconds, without paying commission. The firm said the product would generate income from premium subscriptions, which will give perks to paying customers, as well as margin trading, securities lending and interest on cash held. No release date has been given.

Freetrade makes it easier to lose your money on the stock market

gordon gekko and bud fox holding a phone with freetrade

Gordon gecko. The wolf of wall street. Christian bale’s portrayal of michael burry in the big short. These characters embody the public idea of ruthless finance types who will use every trick in the book – including cheating pensioners out of their money – to make their own millions.

To that roster of characters I’d like to add me, conrad quilty-harper, blogger, digital editor and the proud owner of £636.36 worth of stocks, commodities and bonds. I’m not going to make millions with my tiny pot of money, but to own those shares at least I didn’t have to move to wall street, don a double-breasted suit or set up an ISDA master agreement*: I simply downloaded an app on my phone.

This is a review of freetrade.Io, a new app, based in london, which allows its users to access a selection of shares available to buy in the UK and abroad. With a few touches and a thumb press, you can buy and sell shares, and have a very good reason to reinstall the ios stocks app.

Of course it’s always been relatively easy to buy shares if you really wanted to. Moneysavingexpert has a brilliant list of some affordable options. The difference with freetrade is that, as the name suggests, it’s free to trade.

When the app launched, free trades used to be limited to 4PM every day, and you had to pay £1 per trade if you want to do it “instantly.” they’ve since made instant trading free. That compares remarkably favourably with existing competitors like AJ bell (from £1.50 a trade), interactive investor (£7.99), X-O (£5.95) and hargreaves lansdown (£5.95, but you have to make more than 20 trades in one month). Some of these more established companies have reduced their prices since freetrade launched, but that also might be to do with commission-free trading options from revolut and etoro, and low fee options trading apps like BUX and degiro.

What none of those more expensive or complicated options offer is a process as seamless as freetrade. If you have online banking already, to gain access it’s only slightly more complicated than signing up for netflix. Put in your details, your national insurance number, transfer some money to a bank account, and within a few days you’re able to buy shares.

I’ll use this animated gif to show you how many touches it takes to sell my £13 worth of vodafone shares.

The app still isn’t perfect, nearly two years since its launch. It does a lot of those annoying fintech things like not put an axis on its charts (WHY?!) and uses language that developers think are cute but actually make you question whether you should give them your money at all (e.G. BT’s listing in the app is described as “slow internet”). On the other hand, when I encountered a bug they fixed it within a day and sent me a chat message within the app.

I signed up to freetrade simply to play around with the app, but as the app has developed and the company continues to add new shares (the roadmap is quite comprehensive) it has started to replace my other investment platforms. I’ve even invested in the app itself via one of its crowdcube funding rounds.

One final thing: freetrade made me realise how poor most of the news and information is there about the stock market for retail investors. You can use the ios stocks app, for instance, but that often has no recent news about relevant companies. A better source is the FT’s markets section, but again their coverage isn’t universal. Surely there’s an opportunity there…

More information about freetrade and investing apps in the UK

Can I use robinhood in the UK?

Not at the moment. Robinhood, a similar app which launched in the US in 2013 and also offers “commission-free” trading, has “indefinitely postponed” its UK launch. The company announced in august that it had regulatory approval to operate as a broker in the UK and it planned to allow UK customers to buy and sell shares from 2020.

What is freetrade app?

Freetrade is a stock and shares investment smartphone app which allows you to trade for free. The company is still an early stage start-up, and has raised money several times using crowdfunding platform crowdcube. More than 200,000 people have accounts with freetrade, and it’s been operating for nearly two years.

How can I trade for free?

It’s possible to trade “for free” using freetrade, a mobile app which lets you invest in a limited selection of stocks, shares and exchange traded funds (etfs).

How can I get freetrade?

Sign up to freetrade with my referral code link and if you’re a new customer and put at least £1 into your account, you’ll get a free share. Here’s some more information about the offer.

Further reading if you’re interested in finance

(this blog was originally published in december 2018. *A plot point in the big short.)

How to trade stocks for free

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Whether you are a novice investor looking to get started or an active trader handling your own investments, it's important to understand that commissions and fees limit your total returns over time. By learning how to trade stocks for free, you'll not only save money, but your investments will potentially compound at a faster rate.

Investing in the stock market is commonly referred to as a zero-sum game: for every transaction, there must be a winner and a loser. Sometimes the buyer of the stock wins the game, sometimes the seller comes out ahead. Either way, the net gain or loss must always reach a balance of zero.

In this scenario, there is a third-party participant that always comes out ahead: the broker charging commissions to both the buyer and the seller. Regardless of who wins the trade, the broker makes money by charging both sides to play the game.

Historically, commissions were fixed-rate and were based on the share price and the amount of shares purchased. Shares of stock were usually purchased in even lots, or quantities of 100 shares. Professor charles M. Jones of columbia business school published a study called "A century of stock market liquidity and trading costs" and found that

"at the end of 1962, the average NYSE share price was $40. Trading 100 shares of such a stock would result in a one-way commission of $39, or 0.975% of the money involved. This is a substantial fraction."

On may 1, 1975, deregulation allowed for brokers to charge variable commissions rather than fixed rates, encouraging competition and leading to the rise of charles schwab and other discount brokers. This was a game-changer, opening the door for the DIY retail investor to participate in the market while paying more manageable commissions.

The rise of discount online brokers like e*trade in the 1990s brought about a drastic reduction in commission charges. Competition for the active investor's business has heated up to the point that commissions have never been cheaper. Big names like e*trade and TD ameritrade charge $6.95 per trade, while charles schwab and fidelity have lowered their commissions to just $4.95.

(please note that this article should not be viewed as a recommendation or endorsement of any one of these services and we have no financial interest in anything mentioned. Investing in the stock market involves risk and you should always do your own due diligence before choosing an investing platform.)

Over the last few years, a disruptive fintech company has changed the game again by offering a bare-bones mobile only trading platform that allows investors to trade stocks for free.

That app is robinhood, a member of the forbes fintech 50 which I previously recommended as one of the best investing apps for 2018. The company joined the unicorn club last year with a valuation of $1.3 billion. Could it become an acquisition target for a large brokerage house looking to attract millennial investors?

Besides being free, robinhood's appeal lies in its minimalist design and ease of execution. There are a few basic charts, standard statistics like P/E ratio and dividend yield and a selection of news stories. If you rely on charting tools, income statements or research reports for trading, you'll have to look elsewhere.

So how does robinhood make money? The company recently introduced robinhood gold, a monthly subscription service that allows members to borrow money to trade (i.E. A margin account), provides access to extended hours trading and allows instant access to funds instead of the typical three day settlement period. Robinhood also earns interest on the cash sitting in users trading account, and will stand to make more money should the fed continue to raise interest rates.

Robinhood has its sights set not only on disrupting stock trading, but recently announced plans to expand into the world of free option trading and even free cryptocurrency trading. The company is also planning to expand from mobile-only to a (perhaps more robust) web platform. None of these expansions have been given a proper timeline — interested parties can join a waiting list of over a million people to gain access once they are available.

Another upstart mobile app with its eyes on robinhood is a company called matador, which launched in may 2017. Similar in design and concept to robinhood, matador also offers free trades and limited research, but its unique feature is its focus on social trading and community.

Users can browse their friend's profiles to see their holdings, trades and any accompanying percentage gains or losses. While browsing individual stocks, users can see what percentage of total matador users own the stock, and a global newsfeed shows what the community trends are over time regarding the popularity of certain securities.

The concept of mirror, or copy trading is fascinating and the app, less than a year from its launch, shows long-term potential. Whether matador will be able to lure investors away from and compete with robinhood over the long haul or if robinhood can just copy and implement the community features remains to be seen.

Open A new brokerage account or switch brokers for free trades

More advanced traders will need to keep at least a portion of their accounts in full-service firms to take advantage of their research, charting tools and money management options. The discount brokers constantly run new promotions to entice investors to open new accounts or switch from their current broker. Promotions vary by firm, but they usually come in the form of free cash for depositing a certain amount into a new account or free trades.

For example, fidelity currently offers 300 free trades with a $50,000 minimum deposit while TD ameritrade offer up to $600 and 60 days of commission free trades, depending on the amount deposited.

As with almost anything in life, broker commissions can be negotiable. If you're currently an active trader, you can always try calling a customer service representative at your broker and try to negotiate a lower rate. Make sure you've done your homework beforehand and come armed with information about their competitor's promotions.

Merrill edge

Merrill edge, launched by merrill lynch in 2010, offers low-cost trading commissions similar to competitors like fidelity and TD ameritrade. What sets merrill edge apart, however, is their preferred rewards program, which offers up to 100 free trades per month with a $100,000 account balance or 30 free monthly trades with a $50,000 account balance.

It may be only a matter of time before the other brokerages follow suit with similar offers, but for now, merrill edge is the only discount broker that offers free trades on a continual monthly basis.

Whatever option you may choose, there's never been a better time to enhance your returns by keeping your trading costs down to a minimum. Not every trade you make may be a winner, but at least you won't be paying the house to play the game.

19 advantages and disadvantages of free trade

Free trade occurs when there are agreements between two or more countries to reduce barriers to the import and export markets. These treaties usually involve a mutual reduction in duties, taxes, and tariffs so that the economies of every country can benefit from the various trading opportunities. One of the most well-known examples of this approach is the USMC agreement, which replaces NAFTA to govern free trade across north america.

Free trade agreements allow a country to have access to more markets throughout the world. It can encourage local industries to improve their competition while relying less on subsidies from the government. It is a process that can lead to the opening of new markets, and improvement in GDP figures, and new investment opportunities.

When free trade involves a developed country and one that has yet to fully industrialize, then there can be an exploitation of natural resources that occurs. Some households might see the traditional livelihood fade away for modern jobs. It can even cause problems in the domestic employment sector for all involved parties.

The advantages and disadvantages of free trade show us that any nation deciding to enter into an agreement must take proactive steps to guard their resources and people against exploitation without resorting to protectionism.

List of the advantages of free trade

1. Free trade creates economic growth opportunities.
The free trade agreements in north america helped the U.S. Economy grow by an average of 0.5% per year more than it would have otherwise. When countries can freely move products across borders, then each nation gets to take advantage of the manufacturing, commercial, and industrial strengths of every other economy in the agreement. That means there are lower cost burdens to worry about with each transaction, prices stay lower, and there can be healthy competition in the market.

2. There are more opportunities for foreign direct investment.
When nations remove the barriers that are in place for free trade, then more companies are willing to invest in other countries. There are new investments, partnerships, and opportunities that develop because of this approach in markets of any size. That means you can focus on creating deeper, more fulfilling relationships with other governments who share the same perspective of the world today. Countries with shared borders can promote a better standard of living because it is harder to go to war with someone who is your economic partner.

Between 1994-2019, the policies of free trade allowed for an average of $25.6 billion in foreign direct investment to support the american economy each year. The second quarter of 2018 saw a record of $55.83 billion in that three-month period alone.

3. It lowers the taxes that consumers and businesses pay.
The inclusion of tax and investment protection in free trade agreements make it possible to guard the interests of local business owners more efficiently. When these safeguards disappear, then the result tends to favor the consumer because more competition from global agencies can happen at the level of consumption.

This advantage reduces stagnation within markets, though at the risk of eliminating smaller businesses from the equation. Lower assessments and fewer restrictions to entry can also reduce pricing for customers.

4. Fewer government expenditures occur because of free trade.
Several domestic industries receive financial benefits from the government, including farming and other areas of agriculture. This money goes from the taxpayer to the producer as a way to counter the impact that tariffs have on the import and export markets.

By injecting new best practices and creating new competencies into the domestic delivery systems, less government money is necessary to keep prices affordable at the local level. This advantage means that the tax revenues can go toward infrastructure needs, social programs, defense, or other community requirements without keeping unprofitable business ventures afloat.

5. It creates better goods.
When free trade occurs, then each market receives more access to higher-quality goods at lower prices. Cheaper imports help to ease the pressure of inflation in the united states because of the american relationships with china and mexico. Prices are held down by over 2% for every 1% share in the market of imports that come from countries with a lower income level. That means the average U.S. Household has more money to spend on other products. The requirement of innovation here means that businesses are constantly finding ways to solve problems for consumers.

6. Free trade involves more than just consumer goods.
At least 50% of the imports to the united states each year are not consumer goods. They are inputs for producers who are based in the U.S. So that domestic production costs can go down. This advantage also promotes economic growth because it diversifies the supply chain for an organization of any size. Even micro-businesses, freelancers, and gig specialists can benefit from this advantage because the internet provides immediate access to cheaper goods, new research, and service expansion opportunities.

7. It helps the people who have the least amount of money to spend.
Some people believe that more wealth can only come when a country can export more of its goods or services to other nations. The economic reality of free trade is that it is the total level of imports and exports that accurately reflects prosperity. When the people at the lower tier of the national income levels have more money to spend, then the entire economy benefits. Thatвђ™s why the removal of tariffs is such an integral part of this process.

Cheap sneakers that come from china might have an import as high as 60% some years in the united states. If you were to purchase a part of italian leather dress shoes, the tariff might be less than 9%. Regular drinking glasses have a tariff of almost 30%, but crystal glasses have one at 3%. When more americans can buy cheap imports, then it encourages non-americans to invest more in the country.

8. Free trade creates more opportunities to solicit workers with expertise.
Automakers sent jobs to mexico because of NAFTA, and then decided to import the vehicles back to the united states because of the favorable tariff policies. Although this issue took some jobs from american laborers, it also gave companies the chance to find workers from almost anywhere in the world with the right levels of expertise. By looking to foreign markets for this help, the costs stay down for the manufacturing process to maintain pricing at competitive levels.

This advantage also means that multiple economies around the world can benefit from this approach. It is one of the reasons why india has one of the fastest-growing middle class sectors in the world today.

9. Experts get to have access to the most resources with free trade.
Free trade agreements attempt to put the most opportunities into the hands of the people who can create successful outcomes. There are no border restrictions to this advantage. Thatвђ™s why anyone can become whatever they want to be in life if they have access to an economy built on this principle. The amount of competition that becomes available is the primary driver of what local populations think is possible. Anyone can become what they want to be in life if they work hard enough to reach their goals thanks to the fewer economic restrictions that exist with this opportunity.

List of the disadvantages of free trade

1. Free trade does not create more jobs.
It is a myth to say that free trade encourages employers to send their jobs overseas. It would also be incorrect to say that the increase in competition would create more employment opportunities. It reduces the number of opportunities that are available in inefficient industries. The positions that do remain will see a boost to their overall wages and an improvement to the standard of living, but it doesnвђ™t ship the unwanted jobs overseas. It eliminates the policy of saving a job at any cost, even if opportunities are shrinking in that industry.

Free trade is responsible for 20% of the job losses that occur in the world today. When these agreements are made with highly capable countries or those with relatively few products, then there might be zero job creation measures that develop over time.

2. It encourages more urbanization.
When you look at a map of the united states, you will find an interesting trend. The households who live in urban areas typically lean to the political left, while those in the rural regions vote more toward the right. Free trade encourages families to move away from agricultural work because it is more efficient to let factory farms take care of the food supply. That means more people move into the cities, encouraging urbanization so that there isnвђ™t any money saved from the efforts to keep trading lanes open.

3. There are more risks for currency manipulation.
When china allegedly made an effort to devalue its currency in response to U.S. Tariff demands, the stock market had its worst day in 2019. Then the reality of the situation set in for investors. Lower yuan values make chinese goods cheaper for american consumers. It counters the process of a tariff by creating lower prices through monetary policy. That also means chinese consumers purchasing american goods must pay more for their items. When this disadvantage is considered, then one set of consumers always win and the other always lose. Free trade attempts to regulate this process, but the agreements cannot account for unanticipated manipulation that occurs outside of the system.

4. There can be fewer intellectual property protections because of free trade.
IP rights are not always taken as seriously by international governments or business rivals as they are in a firm’s home nation. Patents, processes, and other inventions, including branding, graphic displays, and imaging, are sometimes copied in the free trade environment. This disadvantage lessens a company’s opportunities to bring new jobs at the local level while providing reasonable wages.

Even when there are IP rights protections in place because of a free trade agreement, there are guarantees that foreign governments will enforce the laws with the same rigor as the local government.

5. The developing world doesnвђ™t always have worker safeguards in place.
Developing countries and emerging markets rarely have the same laws in place that protect employee wages or the conditions in the workplace. Some nations even permit the hiring of children for factory jobs or heavy labor needs that place them in dangerous, sub-standard conditions. Some workers in jordan that produce clothing for american retailers might work 20-hour days, not receive a paycheck for months, and then face jail time or physical abuse from supervisors if they complain.

The reason for this disadvantage involves the competition requirement for free trade. The goal is to create an overall lack of restrictions so that consumers can watch their spending. That means compromises are possible, promoting poor working conditions that workers must endure if they want to continue earning a living for their family.

6. Environmental protections are minimal in free trade.
Free trade agreements rarely protect the environment. The goal for businesses in developed nations is to exploit the natural resources in other regions where restrictions or regulations may not be as stringent. Then the fastest, cheapest methods of creating goods or performing services becomes the point of emphasis. Strip mining, clearcut logging, and other problematic behaviors can increase global emissions, even though the activities might not count on their domestic scoreboard.

The developing world often sells short-term gains for long-term problems. Money from the natural resource trading can fund government operations or encourage corruption, allowing the wealthy to benefit while the working poor struggles to survive. Unless new industries develop, the money from this initial investment will eventually disappear.

7. There can be fewer revenue generation opportunities in free trade.
Higher competition levels can create lower revenue potential in the industries impacted by free trade the most. Some firms, such as walmart, are large enough to operate on a massive scale so that they can avoid this disadvantage. Those razor-thin margins make it a challenge for small business owners to provide meaningful services.

This disadvantage even applies to the gig economy. When a service provider in the united states charges $30 for a service, someone in a developing country might get the same value from a $5 purchase. That cost difference makes it impossible for the one provider to stay competitive if the quality of services is equal.

8. It can stiffen international competition for domestic economies.
Free trade agreements only guarantee that there are gains that occur because of enhanced activities in the import and export markets. There is no way to determine who will benefit the most from an arrangement with few, if any restrictions. Rising productivity in foreign countries might cause induced changes to grow, which means the international competition in some industries can put additional pressure on the overall market. Because free trade doesnвђ™t assign specific industries to any particular country, there is no way to determine in advance if a positive outcome is possible.

9. Customers are left at the mercy of the largest providers.
When companies grow larger, then they can accrue more money. When there is additional wealth available to an agency, then there is enough influence available to start shaping economic policies. Large multinational firms have the power to offer lower prices, but many of them choose not to do so because there is no need for that action to occur. Customers are forced into an economy of scale, purchasing items from an oligarchy where price controls may be non-existent. That means your personal access to affordable goods is entirely reliant on the generosity of the C-suites of each agency for every industry.

10. There can be opportunities for immigration outsourcing.
When NAFTA first came about, the free trade agreement made it easier for people in north america to travel or immigrate to all three countries. If you had a specific skill set that was in demand, then your living situation could be expedited. The current version of the USMCA allows for this to some extent as well. Companies donвђ™t always outsource jobs, but people can outsource themselves because of the loosening of population movement restrictions in a free market.

Verdict of the advantages and disadvantages of free trade

Free trade gives countries of any size an opportunity to create new economic opportunities for themselves. It is a way to increase choice at the domestic level, control costs, and encourage innovation in the targeted industries and commercial sectors.

When there are fewer tariffs in place, then the government will lose funds that it might have already budgeted in previous years. There can also be regulatory problems that occur as global businesses attempt to get a piece of the pie.

The overall advantages and disadvantages of free trade show that when multiple countries can work together to create mutual benefits, then the global economy can gain strength. That is why trade wars can be such a devastating problem too. Domestic consumption can only take a company so far.

Author biography
keith miller has over 25 years experience as a CEO and serial entrepreneur. As an entreprenuer, he has founded several multi-million dollar companies. As a writer, keith's work has been mentioned in CIO magazine, workable, biztech, and the charlotte observer. If you have any questions about the content of this blog post, then please send our content editing team a message here.

Trade with free money

The cost of buying and selling shares has fallen steeply since the start of the 2000s thanks to a digital revolution.

But times changed and online DIY investing platforms give investors the ability to buy and sell at their fingertips, whether from the comfort of their computer or even their phone.

Trading 212 and freetrade both have an eye-catching offer designed to pull customers in: neither charges a penny to buy or sell shares.

But why offer this and who are these two firms?

Crucially, investors do not buy shares but use derivatives to either simply mimic prices, or magnify moves through the use of leverage, as borrowed money is known.

Trading 212 became the first retail broker in britain to introduced a commission-free share dealing service in 2017.

Both challenger investment platforms have adopted this model as a carrot to tempt customers away from established rivals, such as hargreaves lansdown, interactive investor and AJ bell.

Commission-free sharing dealing looks set to further disrupt a market that is already experiencing a downward pressure on investment fees amid regulatory pressure.

Where can you invest?

It's worth noting that freetrade's and trading 212 respective investment universe is relatively small compared to that of more established rivals.

Meanwhile, trading 212 hosts more than 1,800 investment opportunities comprising shares in companies based in the UK, the US and in some european markets, as well as etfs.

To put this into perspective, hargreaves lansdown offers 1,643 UK shares, 7,184 overseas shares, 1,170 etfs and 386 investment trusts.

Crucially, neither trading 212 or freetrade allow you to invest in investment funds or individual corporate bonds outside an ETF.

Hargreaves, meanwhile, hosts 470 corporate bonds plus 7,099 funds from the UK and abroad.

Both trading 212 and freetrade offer an isa wrapper, but neither offer a self invested personal pension.

How do these platforms make money?

Ivan ashminov, co-founder of trading 212, told this is money that actual trading costs are less than £1, so waiving trading commission does not have a detrimental effect.

The charges levied on the platform's other services should more than cover a shortfall from these costs, he added.

Things to consider before moving platform

Investors are free to move DIY investing platform and should track down the one that is best for their needs.

However, they need to be aware of fees for moving from their existing platform and from one they sign up to if they don't like it.

Things like customer services offered by the respective platforms may seem like a small detail but can make the world of difference.

Customers of newcomer freetrade can only trade shares without incurring a broker charge if transacted outside an isa wrapper through it's 'basic trade' service.

Basic trade means the buys and sells are aggregated and dealt around 4pm every day.

This isn't a huge problem if you plan on holding shares for a long time, but more experienced investors often want to be able to trade instantly at a set price.

Free trades are never quite free

There is no such thing as a free trade. Period.

You will pay closer to the higher price to purchase a share and sell nearer the lower price.

The size of the gap depends on how liquid a share is, ie how easy it is to buy and sell, and larger companies therefore tend to have tighter spreads.

These prices are different to the mid-price, which is the one you will generally see quoted in market reports and headline share data.

Freetrade was founded back in 2015 but officially launched its commission-free share dealing app in september 2018.

Will commission-free trading free trade last?

That's dependent on whether the model can pull enough people for these companies to make money off other things they charge for.

At some point, the platform's respective financial backers will want some return on their investment, and zero commission trading removes a major source of revenue.

Commission-free share trading is novel, but eventually investors might crave a more expansive investment universe, with access to more shares, funds and investment trusts.

Both trading 212 and freetrade are legitimate digital stockbrokers, authorised and regulated by the FCA.

If either platforms ever go under, your investments are covered by up to £85,000 (up from £50,000 as of 1 april) under the financial services compensation scheme safety net.

Also, free trading may tempt you to change your investment style and invest more frequently than necessary. Doing so can increase internal costs and potentially hinder your long-term returns.

When weighing up the right platform to invest for you, it's important to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.

DIY INVESTING CHARGES SNAPSHOT

provider	admin charge	charges notes	fund dealing	standard share, investment trusts, ETF dealing	regular investing	dividend reinvestment
trading 212	n/a	-	n/a	free (investment trust trades unavailable)	n/a	n/a	more details
freetrade	n/a	-	n/a	free	n/a	n/a	more details
hargreaves lansdown	0.45%	capped at £45 a year for shares, trusts, etfs	free	£11.95	£1.50	1% (£1 min, £10 max)	more details
barclays direct investing*	0.2% on funds, 0.1% on other investments	min monthly fee £4, max £125	£3	£6	£1	free	more details
share centre	£57.60	-	1% £7.50 min	1% £7.50 min	0.5%, min £1	0.5%, min £1	more details

Trading 212

The service, now called, trading 212 invest, provides access to stocks and etfs across the world’s leading stock exchanges and currencies, including cryptocurrencies, like bitcoin, and commodities.

Freetrade

Freetrade was founded back in 2015 by adam dodds, a former KPMG manager, but officially launched its commission-free share dealing app in september 2018.

In order to offer fee-free trading, freetrade got an FCA licence and joined the london stock exchange in order to processes its own 'basic' orders in bulk each day at 4pm.

Coming soon? Etoro and revolut

Etoro could be the next the latest investment platform to launch a commission-free share dealing platform.

Digital-only bank revolut is also building a commission-free trading platform on its app, its latest bid to use technology to undercut traditional financial services.

Best free broker apps

Sarah horvath

Contributor, benzinga

Anyone from online brokers to robo advisors offer free stock trading for new account holders. And now, with robinhood finding wild success, you’ll find another new class of online brokerages looking to compete in the free stock trading world. With new brokerages and free stock trading promotions popping up, they can be hard to keep track of.

Every month, benzinga hunts down where you can trade for free and puts the brokers in the list below. You can check back on the 1st of each month for more exclusive deals, promotions and other opportunities for free trades. If you’re looking for a new brokerage, it’s also worth it to check out benzinga’s picks for the best online brokers to compare services, fees, and other features.

Best free stock trading brokers and apps:

Best for active stock traders: tradestation

Best mobile brokerage: webull

Best for day traders: TD ameritrade

Best mobile app: moomoo

Best for all levels: charles schwab

Best for retirement savers: E*trade

Simplest platform: vanguard

Best for access to foreign markets: interactive brokers

Best for passive traders: M1 finance

Best for free trades: firstrade

Best for beginners: robinhood

Best free broker apps:

Commissions

Account minimum

Best for

1. Tradestation

Signing up for an account with tradestation is intuitive and simple. You’ll begin by choosing the type of account you want, entering a little personal information, answering a few questions about your experience level and agreeing to the company’s terms of service.

A tradestation representative will review your application and open your account. As soon as your account is open you can begin funding your account and making trades.

If you’re new to trading, you’ll love tradestation’s simulated trading tool. Its simulated trading tool allows you to practice entering buy and sell orders, using tradestation’s suite of charting and analysis tools and using your trading strategy without risking any of your own money. Though it was originally aimed at professional investors, tradestation now offers a wealth of education options that brand new traders can understand and use.

Tradestation offers traders a variety of affordable equity and contract trading options. You can currently trade stocks, bonds, mutual funds, etfs, futures, options and cryptocurrencies on tradestation’s platform. For each asset, you can use tradestation’s comprehensive platform to inform your trades and screen by your chosen set of indicators.

Commissions

Account minimum

Best for

2. Webull

Webull is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the securities and exchange commission (SEC) and the financial industry regulatory authority (FINRA).

Webull offers economic calendars, ratings from research agencies, margin trading and short-selling. Its intuitive trading platform is complete with technical and fundamental analysis tools. Its a solid option for active intermediate and advanced traders.

You’ll enjoy commission-free trading for more than 5,000 different stocks and etfs. There are no maintenance or software platform fees, and no charge to open or maintain an account.

Commissions

Account minimum

3. TD ameritrade

TD ameritrade offers the best of both worlds. On one hand, 0-commission trading and a vast library of educational articles and videos make TD ameritrade ideal for a new investor’s first brokerage account. On the other hand, technology like the thinkorswim platform gives accomplished traders the tools needed to pull off labyrinthine options trades or sell livestock futures at 3 a.M.

TD ameritrade has developed a user-friendly platform and tries to appease investors of all shapes and sizes. From account signup to trade execution, the process is smooth and painless. New accounts can be opened in minutes and a variety of different options are available, including retirement vehicles like roth iras and custodial accounts like UTMA/UGMA and 529 plans.

TD ameritrade has several ways to get in contact with their support staff. The easiest way to get in touch is via phone. Ameritrade offers 24/7 phone support for both new and existing clients. Finding an exact email address is difficult though — you’ll just be directed to a form located on the website, which means a back-and-forth email conversation is difficult. Text support is also available, but live chat options only occur during normal working hours.

Commissions

Account minimum

Best for

4. Moomoo

Moomoo’s powerful app, complete with an intuitive investing platform, isn’t just for first-time investors. In fact, you can get level 2 market data, charts and technical indicators, 3rd-party ratings and insights, capital flows, graphs and more.

Don’t miss out on conditional alerts, its customizable stock screener and more. It’ll improve your trading experience. Don’t miss out on moomoo’s great deals on U.S stocks, adrs, etfs and options. Learn more.

Commissions

Account minimum

Best for

3 trading platforms perfectly in sync makes matching your platform to your skill level a snap

Excellent futures trading education for new traders

$0 account minimum means anyone can start trading

5. Charles schwab

Charles schwab’s primary desktop trading application, streetsmart edge, is a customizable trading platform you can use to chart, track and place informed trades. The platform is responsive, updating market data on a second-by-second basis. Streetsmart edge is completely customizable.

You can set individual stocks, funds or watchlists to populate immediately when you load up your app. You can also customize your layout by dragging and dropping different windows into specific areas of your screen.

Charles schwab offers traders both online and in-app education tools you can use to improve your trading strategies and learn how to more effectively save for retirement. Let’s take a look at 3 unique education tools offered by charles schwab

Charles schwab offers you full access to the U.S. Stock market, allowing you to buy and sell over 11,000 stocks and 2,000 etfs with no commissions. Charles schwab’s smartstreet edge includes a number of screening tools, including average expert rating, daily movement, average daily trading volume, price, beta rating and much more.

In addition to U.S.-based equities, traders can also invest in 30 foreign markets and a separate set of screening tools are available for foreign and developing markets. Charles schwab also offers access to over 3,000 mutual funds — though few funds come with $0 commissions.

Commissions

Account minimum

Best for

6. E*TRADE

E*TRADE leverages multiple platforms, 2 different mobile apps and a variety of account types and financial services to provide an inclusive brokerage experience. Most brokers aim their platform toward a specific type of investor, but ETRADE offers a little something for everyone. Does this overburden the trading system? Not at all.

E*TRADE offers 3 main avenues for providing clients with research and education to improve not only their trading acumen, but to better understand investing and markets. E*TRADE will walk you through the process of trading on their platform in a way no other broker does.

Stocks, etfs, and (most) mutual funds are free to trade on E*TRADE, but that doesn’t stand out much anymore. Mutual fund and ETF screeners are also free, even if you don’t have an E*TRADE account. Search through over 2,300 etfs and 9,000 mutual funds, sorted by asset allocation, leverage, expense ratio, morningstar rating and more.

Use the advanced search feature to look for securities based on risk profiles and technical indicators. E*TRADE’s standard E*TRADE mobile app and power E*TRADE are free to clients on both ios and android, but they serve different purposes. E*TRADE web mobile is aimed at the buy-and-hold, “set-and-forget-it” type of investor, while power E*TRADE mobile seeks out the day trading and derivatives crowds.

Commissions

Account minimum

Best for

Retirement savers

Buy-and-hold investors

Investors looking for a simple stock trading platform

7. Vanguard

Vanguard was the 1st to offer low-commission trading on inexpensive index funds based on consumer-friendly investment principles. Day traders might not find vanguard’s old-school style appealing, but retirement savers, buy-and-hold investors and companies that seek employer-sponsored programs might want to take a gander.

Vanguard is the right place to be if investing is new and scary to you. The company offers a host of step-by-step guides to inform and educate clients about proper investment practices. Vanguard takes its fiduciary duty very seriously — you won’t be pushed into expensive investment products that benefit a salesperson more than you.

Vanguard offers a wealth of education and research materials, including some of the most in-depth reports on retirement planning you’ll find. Vanguard has the process down pat — an automated system asks about your retirement goals and makes suggestions pertinent to your situation. (in a way, vanguard was the first robo-advisor.)

Vanguard’s customer service reps are helpful and dedicated to serving clients. However, vanguard’s contact methods are a bit outdated. Email support can only be reached with an active account and phone support is only available during the week, from 8 a.M. To 8 p.M. Text and chat support options are also unavailable. Vanguard’s ahead of the curve in so many ways — but its customer support structure could use a facelift.

Pricing

Account minimum

Best for

Access to foreign markets

Detailed mobile app that makes trading simple

Wide range of available account types and tradable assets

8. Interactive brokers

Interactive brokers (IBKR) is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. With access to over 125 global markets, you can buy assets from all around the world from the comfort of your home or office. Options, futures, forex and fund trading are also available — and most traders won’t pay a commission on any purchase or sale.

IBKR is geared primarily toward experienced investors. The platform offers limited assistance and can be a challenge for new users to become acclimated to. The broker’s tiered pricing strategy can also be frustrating for traders who focus on hourly or daily price movements.

IBKR has always been a top choice for professional brokers, but its new IBKR lite accounts can appeal to new investors looking to test the waters of trading. However, IBKR still maintains its host of professional tools and charting software. Outside of its trading platform, interactive brokers offers a wide range of educational tools and resources you can use to learn more about trading. Let’s take a look at a few of the free resources it offers to help you learn more about the markets.

Interactive brokers offers trades full access to the U.S. Stock market on both its pro and lite platforms. You can even access stocks listed on european and asian stock exchanges to buy and sell foreign securities. Most traders will pay $0 on all of their commissions, but high-value pro account holders may pay a fraction of 1 cent per share.

Commissions

Account minimum

Best for

Don’t want to take an active role in portfolio management

Need a large amount of hand-holding when it comes to selecting investments

Want the option to invest in a socially responsible portfolio

9. M1 finance

M1 finance uses pies, which allow you to show your holdings as slices of a pie. All you need to do is assign a percentage to each slice, fund your pie and you have a portfolio of stocks. You also have the option to take advantage of M1’s ‘expert pies’ feature.

M1 finance has an in-house asset management team for those who prefer to invest passively but maximize returns. This feature is great for investors who are transitioning from a robo-advisor.

M1 really introduces something more than passive investing and other brokers might adopt the same or similar concept. Its strategy is based on a vision of its founder, who believes that in the future customers are not going to compare brokers based on fees. Instead, they are going to compare platforms. If this vision becomes a reality, investing is going to become more approachable and a lot more fun for retail investors.

It is difficult to diversify small accounts if you are trading with brokerage firms that allow only whole shares investing. M1 finance offers fractional shares investing. When you receive a dividend or when you add a small amount of money to your account, you don’t have to wait until you have enough to buy a whole share. M1 allows you to put your money to work immediately.

Commissions

Account minimum

Best for

New traders looking for a simple platform layout

Native chinese speakers seeking research and education tools in chinese

Mobile traders who needs a secure and well-designed app

10. Firstrade

Firstrade’s platform offers the following:

Manage and trade from one screen

Adjustable layouts

Customizable widgets

Advanced technical charting

Helpful graphs

Position simulator

Guides and podcast available for education purposes

You can monitor your portfolio’s performance easily with the firstrade mobile trading app, which offers a more dexterous option compared to a desktop. You’ll be exposed to a touch ID screen for ios devices, equity ratings and fundamental data, advanced charts, comprehensive dashboard and improved research and trading interface.

Firstrade offers varied customer service options, including live chat with a registered customer service representative monday through friday, 8 a.M. To 6 p.M. ET, or you can use the firstrade chatbot (named sammi), which is available 24/7.

Commissions

Account minimum

Best for

11. Robinhood

Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Robinhood only offers basic research tools. Though the brokerage has been making an effort to improve its options in recent months, the level of fundamental and technical analysis tools still pale in comparison to almost every other competing broker.

Robinhood gives traders access to the U.S. Equity markets, so you can buy and sell over 5,000 individual stocks and etfs. You can also buy and sell over 250 stocks listed on foreign exchanges — though the platform doesn’t give you access to full foreign markets like some competitors. All trades are made with $0 commissions, whether you’re using robinhood gold or a standard robinhood account.

One of robinhood’s strongest assets is its mobile app. Like the desktop platform, robinhood’s mobile app is streamlined, so even new traders can quickly buy and sell on the go.

Every commission-free stock trading broker app

With robinhood’s ever-increasing popularity, you may be curious where else you can trade stocks for free. Luckily, there are a number of new online brokers and robo advisors that offer free stock trading.

Robo advisors, like acorns and wisebanyan, offer managed accounts with zero commissions and low account minimums. These may be a great option for you if you’re looking to venture in the investing world and have goals, but might be too intimidated to pick your investments.

Other online brokers that offer self-directed trading accounts, like webull, M1 finance, firstrade and matador, give you the power to make their own trading decisions. These brokers aren’t bare-bones, either. They’re equipped with news feeds, great mobile experiences and investor education.

All free stock trading promotions for new account holders

While some brokers are completely free, a number of larger, more traditional online brokers offer free trades through other means. These free trades or cash bonuses through promotions for new customers or commission-free electronic funds transfers (etfs) for the life of the account.

The 1st offer is free stock trading for new account holders. The free stock trading windows will last anywhere from 2 to 6 months. While the free trading period doesn’t last forever, it can help users learn the platform, take time to absorb educational content and get more comfortable executing trades. After the period is up, account holders will be charged the standard commission rates.

Some brokers may even offer cash bonuses for initial deposits. Some brokers like ally invest will offer up to $3,500 for a large deposit. The bigger your deposit, the higher the cash bonus. The bonuses are usually deposited directly into your account.

Outside of the 2 offers above, many brokers offer commission-free etfs from ishares, wisdom tree and other popular ETF providers. In some cases, ETF fees can be as high as $20, so the savings can make a serious impact over time.

Hire a pro: compare financial advisors in your area

Finding the right financial advisor that fits your needs doesn't have to be hard. Smartasset's free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by smartasset and is legally bound to act in your best interests. If you're ready to be matched with local advisors that will help you achieve your financial goals, get started now.

My money manager

My money manager is a trade risk controller, which places your trades with the exact volume that meets your desired stoploss risk. It can also help you to preview your EP/SL/TP levels before placing an order by dragging these levels directly on a chart, and keep reporting about them during the position is opening.

With this tool, you will feel more comfortable when deciding to open orders, as well as forecasting your profit/loss with your orders. Placing orders is a very precise and professional work now.

This tool is the money manager part that splitted from auto trade driver.

License types	trial license	full license	subscription license	referral license
price	free	49$ / license	12$ / 1 month 24$ / 3 months 36$ / 6 months	free
simultaneous accounts per license*	1 account at the same time	10 accounts at the same time	10 accounts at the same time	referred account(s)
expiry	7 days after registration	no	after subscription period	no expiry as long as your account is under our referral and account balance is at least 1000$
how to get	free registration	purchase by our supported payment methods	purchase by our supported payment methods	open live trading account with one of our partner brokers under our referral and deposit at least 1000$

*you can use the product with any account number or on any computer/VPS. But only a maximum total amount of simultaneous accounts is allowed to use the product at the same time.

Compare with our other products

1. Installation:

Unzip the product’s package, you will see the “my money manager.Ex4” and “my money manager.Ex5” files.

Go to MT4 or MT5 data folder by opening MT4/MT5 terminal -> main menu -> files -> open data folder.

Copy .Ex4 or .Ex5 file to directory path: /[data folder]/MQL4(5)/experts/. Go back to MT4/MT5 terminal -> main menu -> view -> navigator -> right click on expert advisors folder -> refresh -> find “my money manager” -> double click or drag it the the chart that you want to work with.

At startup window -> common tab -> enable “allow DLL imports” and “allow live trading” check box.

Switch to input tab, enter your registered email address and activation key in order to activate your license.

2. Commission setting

Commission setting is used for risk management calculator to determine the exact lotsize that match with your risk. Commission is counted to trade’s profit/lose in order to giving the exact result of the trade.

Commission type: this is how your broker charges commission. It should be “account currency” if commission is charged on account currency unit, or “base currency” if commission is charged on base currency of the trading pair.

Commission per lot: the amount of currency units that charged as commission for a round turn standard lot. If your broker/account type doesn’t charge commission, just leave this value as zero.

3. Risk management

This feature calculates required volume that meets your accepted stop loss risk. You choose EP and SL with a specified risk percentage of balance that you accept to lose at that stop loss point (including commission), the tool will auto-calculate required volume. Then, you just need one click on the button BUY, SELL, or PLACE ORDER (with pending order), and order will be sent immediately. If you want to calculate and place order with other pairs, just use this tool with those pairs.

Stoploss risk: the risk percentage that you accept to lose if stop loss occur.

Est. Loss+commission: the estimated loss you will incur at stoploss point. This total loss amount includes order’s loss and order’s commission.

Order type: choose the order type that you want to take place.

Order comment: note for your order as regular MT4/MT5 order’s comment.

Magic number: set the magic number to your placed order for further purpose. Magic number is a unique number that you can set to idenfy your order. If you don’t have special purpose, just leave it as blank.

Set SL/TP by: choose how to set stoploss/takeprofit point. It should be “price” if you want to set SL/TP by a certain price value, or “distance” if you want to set them by a distance from the entry point.

Adjustment step: increase/decrease space of the price adjustment when using increase/decrease arrow button

Stoploss/takeprofit/distance: value to determine the stop loss/take profit point. Setting stop loss point is mandatory to calculate appropriate volume (you may remove stop loss later if you want, but need to enter a value to calculate volume and place order). Leave take profit as zero means setting an order without take profit.

Order dragging feature: when you are setting EP/SL/TP on the control panel, you will also see that there are horizontal lines with corresponding level on the chart. You can select those lines and drag them to adjust order EP/SL/TP. Due to those level, order type will be auto selected.

This is frequently asked questions (FAQ) and our answers relate to features of product my money manager (MMM). For other general FAQ, please check at our main FAQ area. If you have further concern, please leave your question at our contact page.

19 advantages and disadvantages of free trade

List of the advantages of free trade

List of the disadvantages of free trade

Even when there are IP rights protections in place because of a free trade agreement, there are guarantees that foreign governments will enforce the laws with the same rigor as the local government.

Verdict of the advantages and disadvantages of free trade

So, let's see, what we have: commission free share trading is one of the latest exports from the US, where the rapid growth of zero-fee platforms like robinhood is eating into the margins of wall street banks. At trade with free money