Marsco Broker Review
Marsco is an online broker that offers deep discounts on commissions with a user friendly website that is streamlined with only necessary information. They offer trading in equities, options, ETFs, mutual funds and fixed income products and there are no inactivity fees or share limits for their cheap commission rate that I will go over below. There is however an equity minimum of $2,500 to open an account with Marsco whether you are opening a standard individual account or a margin account.
The best part of Marsco is their commission schedule but other than that it has little to offer especially in educational resources which is basically non existent on their website. Their trading platform is a web page where you can place orders but it is slow and unimpressive. I can’t recommend this for active traders and even have a hard time recommending this to casual traders. The main upside to Marsco is their commission schedule which is one of the cheapest in the industry.
Commissions & Fees
Marsco has a super competitive commission schedule with equities starting at just $3.95 no matter how many shares you trade with broker assisted trades costing $25. This is one of the cheapest commissions I’ve seen so you can definitely save some money by trading at Marsco. Options are a base rate of $3.95 plus $1.25 per contract with broker assisted trades jumping up to a $20 base rate plus $2 per contract. The broker assisted fees are quite a bit more so I would only recommend calling a trade in if it is absolutely necessary. Mutual funds are just $15 for no load funds and are free for loaded funds. Honestly, this is the best part about Marsco. Their commissions are great and hard to beat so if that is your number one concern then this broker is worth checking out.
Trading Platform & Tools
At Marsco, you will have access to their web-based online trading page that has watch lists, screeners, account balances, basic charting capabilities, position window and streaming quotes. They do not offer direct market access or hotkey capabilities so speed will be lacking through Marsco. I wasn’t very impressed with their trading platform as it seemed sluggish and basic on just about all aspects. The one thing I did like is the simplicity of it all. There’s not a ton of tools and features so it makes things feel more streamlined. However, active traders could not use this to trade everyday as it is too slow but casual traders could get away with it especially if they are using another charting software.
Overall, Marsco is a subpar brokerage firm that really only offers cheap commission rates. They really lack in the technology and education department which is a huge part of the trading world and until they offer a more sophisticated trading platform I cannot recommend them to active traders. They will have to step their game up quite a bit to get a recommendation from us. There are plenty of other brokers out there that offer a much better setup and even if they are a dollar or more in commissions it will be worth it to have the better technology.
As always, if you have any questions or comments regarding Marsco, please leave us a message below!