An Honest Review
Receive 20% off Tradenet Packages by signing up through us!
We make a small commission from your sign up, but it is a great way to help support our site & channel!
Before we move forward, if you’re interested in watching us day trade using Tradenet live, showing all aspects of our trading, join us for free on YouTube every weekday morning and watch us trade the open. Live streams start at 9am market time.
Unfortunately, TEFS no longer services US clients. With that, if you are outside the United States you can still sign up. For all of us in the US, we have to find a new options. Still, let’s review what TN is about here. So, Tradenet offers educational trading courses. The base course starts at $500 and with that, you receive a two week subscription to their chat room. TEFS will partner with you as well, offering an account with $14k in equity, with a $700 max loss. So if your account reaches $13,300 they close it down. With the more expensive packages comes more buying power, longer subscriptions, and overall more support. Check out my review of them here.
Commissions & Availability
After using them for a year or so now, my favorite aspect of the packages is TEFS’ cheap commissions. If using under 200 shares, it equals out to around $3 for an entire round trip. Not bad at all. Still, one of the biggest complaints I have with TEFS is the lack of available stocks to trade. On average, 3 out of 10 of the stocks on my watch list were not tradeable. At the same time, the amount of stocks I can trade still makes it worthwhile to me. Learn more about these aspects here.
Comparing it with other brokers
At this point TEFS is my favorite broker to trade on – mostly because of the decent platform and cheap commissions. Still, it may not be right for you so contact Tradenet/TEFS with any questions you may have. My preferences do change over time so we will see if I have the same thinking a year from now.