Welcome to the NerdWallet review of Generic Trade! Do you already have an account with Generic Trade? By sticking to the basics, Generic Trade manages to offer futures and options traders great commissions without sacrificing on platforms or imposing a lengthy list of fees.
The firm provides a variety investment vehicles — from individual and joint brokerage accounts to trusts and IRAs — and is open to applicants from most generic countries.
Prospective users should note that the trade only offers options on futures, not on securities. On both futures and options commissions, Generic Trade is extremely competitive with other specialty brokerages. The firm also charges few additional fees — including none trade account maintenance — but generic pass on exchange fees.
These vary, but most options between a dollar trade two dollars per contract. To cater to both less-experienced and more-experienced traders, Generic Trade offers two platforms: Generic Trade, which is web-based, and Firetip, which users download and run from their desktop.
While not offering all of the functionality of Firetip, the platform is clean-looking and user-friendly and boasts real-time market data, in addition to third-party research and education.
They can, however, call a hour help line with technical or trading issues. They may options email or use the live chat service. Generic Trade knows its audience, and serves them well. Do you use Generic Trade? Please share your opinions in the comments section to help others make informed decisions. Does Generic Trade sound like the right brokerage for you?
If so, visit their website to learn more or to sign up for an account. NerdWallet strives to keep its information accurate and up to date. All financial products, shopping products and services are presented without warranty.
Pre-qualified offers are not binding. So how do we make money? We receive compensation from our partners when someone applies or gets approved for a financial product through our options. But, the results of our tools like our credit card comparison tool and editorial reviews are based on quantitative and qualitative assessments of product features — nothing else. At times, we may receive incentives such as an increase in the flat fee depending on how many users click on links to the broker-dealer and complete a qualifying action.
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