Generic Trade Broker Review
Generic Trade is a online discount broker that specializes in online futures and options trading accompanied with excellent technology that is reliable, lightning quick and functional. They cater to self-directed traders who are looking for competitive commissions and top of the line technology. They offer a free demo account to test out their products in a simulated account with real-time streaming quotes and charts, time and sales, live news and their trading matrix. This is a great option as you will be able to take their platform for a test drive before committing any capital as they have no account minimums. At first look their site seemed basic and unimpressive but the more I went into it the more I found out that they spent their resources providing the best trading software and technology that will meet the demands of active traders. I just wish they offered more than futures and options!
One thing that I was really impressed with was their customer service and their availability. They offer chat service, email, phone service and 24/7 trading and tech support which is a huge bonus because not everyone is available during normal business hours. When I spoke with them about opening an account they were really nice and full of information. You could tell that their service reps are well trained and that they take it serious. I value great customer service and was really impressed with theirs.
Commission & Fees
Generic Trade has a great commission schedule that is simple and to the point. It charges just 59 cents per side for all trades. That’s cheap! Keep in mind that their are additional exchange fees associated with trading and will be charged to your account (you can view them here). If you compare this to one of their main competitors, Futures Online, they charge $1.29 per side which is more than double what Generic Trading offers. So you can see that this is a deep discount broker that is committed to providing its clients the best prices possible.
Trading Platform & Tools
Generic Trader Online is their online, web-based trading platform that features rich graphics, real-time market data and news, order status page, account details and basic charting abilities. As far as web-based trading platforms are considered, this one is one of the better ones that is user friendly with a streamlined user interface and clean layout.
The Generic Trader Professional is their flagship trading platform that is sophisticated with powerful tools and advanced charting capabilities. This platform is designed for the serious trader that needs all the bells and whistles. With it you’ll be able to one-click trade, time and sales, customizable layout and a live news feed. The platform quickly executes orders and the windows are laid out in a clean and user friendly manner. I really enjoy this platform and would recommend for active traders looking trade futures and options online.
If you’re a serious trader that is looking for a broker that offers a powerful trading platform for futures and options with low commissions, then you need to check out Generic Trade. For what they offer and what you pay, it’s a great deal that you need to check out. They offer the free demo account with simulated trading that even has live streaming data and allows you to use all their platforms features so you really have nothing to lose. On top of that, they have great customer service that was friendly and professional who will help you in all steps of opening an account to getting it funded. If you’re interested in checking Generic Trading out, click on this link.
As always if you have any questions or comments regarding Generic Trading, please leave us a message below!
Reviews by Warrior Trading