Place Trade Review
Rana Adnan | August 2, 2021
Table of Contents
Based in Raleigh, North Carolina, Place Trade is an online trading broker that gives traders access to a range of intuitive trading platforms that are available in desktop, web, and mobile versions. Their clients can trade various financial markets across different asset classes, including stocks, options, ETFs, mutual funds, bonds, and more. The broker does not have any minimum deposit requirements. In addition, no commission is charged on trades.
Broker Pros / Cons
- Sophisticated & powerful trading platforms
- Range of educational materials
- Useful trading tools
- Multiple financial instruments
- No minimum deposit
- No MetaTrader platforms
- No forex or cryptocurrency trading pairs
- Limited deposit/withdrawal options
Summary
With over two decades of experience in the financial industry, Place Trade is a retail broker that is committed to creating independence for investors. The broker states that they are built on the core values of utmost integrity, loyalty, and respect. Place Trade is a global full-service, discount brokerage firm providing online trading of multiple instruments and optional financial guidance to clients in over 100 market centers, 24 countries, 22 currencies, and 12 languages. They provide traders with various sophisticated trading platforms, educational resources, useful trading tools, and a client support team. The broker has won several industry awards, including the best online brokers 2014 by Barron’s Magazine.
Place Trade Features Overview
Regulation
Place Trade is an online trading broker that is duly registered with FINRA and SIPC. However, it is not registered in all states or jurisdictions. Place Trade does not solicit securities, products, or services in any jurisdiction where it is not authorized to do so.
The broker offers its services to residents of countries and jurisdictions where the use of such services would not be contrary to any local laws or regulations.
Platforms
Trader Workstation
The broker provides traders with the award-winning Trader Workstation (TWS) trading platform. It is a powerful trading platform that is designed with the active trader in mind. It has a wide range of built-in features and functionalities to suit even the most demanding traders. The platform is fully customizable and provides users with extensive global access to help them to diversify their portfolio or hone in on the widest reach of securities, asset classes, and account types available. Some of the essential features of the TWS include a simplified workspace, news & research, real-time monitoring, algos and trading tools, price/risk analytics, paper trading, and more.
Place Trade Trading Platforms
Tools
In addition to the built-in tools of the provided trading platforms, the broker makes available a good selection of useful trading tools on their website to help traders get an enhanced trading experience. These helpful trading tools include portfolio analyst tools, market scanners, API solutions, risk management tools, smart routing technology, and more.
Place Trade Portfolio Analyst Tools
Education
The broker’s website is replete with several educational resources that are aimed at improving clients’ trading skills and knowledge. These educational resources include trading guides, an FAQ section, an education center, webinars, and a financial news section that keeps traders informed on the latest happenings in the financial markets.
Markets
The broker offers the following financial assets: stocks, options, ETFs, mutual funds, bonds, and more.
Accounts
Place Trade offers the following trading account options: Reg T Margin, Reg T IRA, Cash, or Portfolio Margin account types. The accounts can offer leverage of up to 1:400, depending on the clients location and trading experience.
Support
Place Trade offers 24-hour customer service via regional customer service centers throughout America, Europe, and Asia. The customer service representatives are available Monday through Friday from 8:30 AM to 5:30 PM and by appointment; they can be contacted through telephone and email.
Funding
The broker allows traders to deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank transfers, ACH, checks, and more.
Signup
Opening an online account is super easy at Place Trade. You can either dive right into the full application or chose the short form (Fast Track) application and add more securities or countries later if you choose.
Place Trade Account Opening Page
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
Place Trade is an award-winning trading broker that is based in North Carolina, USA. They provide traders with advanced platforms for trading multiple financial markets. Their clients are provided with a good selection of educational resources, useful trading tools, and a client support team. The broker is registered with FINRA and SIPC.
Min $1 Deposit
Founded in 2001, Place Trade is a USA trading broker that gives traders access to a range of intuitive trading platforms so that they can trade various financial markets across different asset classes, including Stocks, Options, ETFs, Mutual Funds & Bonds.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
Review Methodology
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.
Share
If you like our reviews and find them useful, please feel free to share them on your socials as this can help us to continuously improve the website and for traders to find a suitable broker.
Login
Register