For individuals seeking a trading platform characterized by advanced functionalities, robust research provisions, and a streamlined interface, TradingBlock might have presented itself as a viable platform for traders. In this comprehensive TradingBlock review, we’ll delve into the definitions, how it works, customer services, its features, education, benefits, and more.
List of Contents
Overview: TradingBlock
Account Minimum: $0
Fees: $5 minimum for stocks, $25–$50 for wire transfers
TradingBlock is one of the brokerage services under the corporation AOS, Inc. It is specifically designed for the use of retail traders and investors, while other services under the company cater to registered investment advisors, professional traders, and those who trade futures.
The website of TradingBlock was developed to approach stock investors, beginning investors, and seasoned investors, while there was a new group of investors joined AOS Inc., at the end of 2018.
However, users have the opportunity to leverage platforms of third parties directly, such as Sterling Trader Pro, Silexx, RealTick, and more. Our evaluation focused on the web platform, which is a tool developed internally that seamlessly links to a range of third-party research and analytical tools.
Customer Service
- Hours of operation are from Monday – Friday, 7:30 a.m. – 4:30 p.m.
- They offer the service through e-mail, phone, and fax.
- Live chat is unavailable.
- The website provides only English.
Products
The products that provide through TradingBlock include:
- Stocks
- ETFs
- Mutual Funds
Pricing
TradingBlock sets its usual commissions starting from $0.001 per share with a minimum of $5. When it comes to options trades, there’s a fixed $5 base fee, irrespective of the number of legs traded, in addition to $0.50 per contract. Moreover, the fees for margin are lower than average. In contrast, accounts that haven’t shown activity over the past year may need to pay inactivity fees to the broker, which charged between $2 – $5.
Usability
The website of TradingBlock is easy-used, and they have more functions to choose from. Furthermore, users are required to click on a desired task, which suits their decision, to start investing further.
Trading Experience
The website is user-friendly, which means it can simplify the access of traders or users. During trading, traders can generate closing orders for any existing open positions. It can be done swiftly. However, it provides a limited array of customization choices.
On the other hand, third-party software applications compatible with TradingBlock provide a high degree of customization. Additionally, these apps also enable you to make a decision which appropriate to your desires.
Mobile Experience
The mobile application for TradingBlock clients is unavailable on iOS App Store or Google Play Store because they generate their mobile app specially designed for the clients of TradingBlock Futures. However, It is necessary to create a separate account to access this application.
Account and Research Amenities
The research functions primarily aim to identify options strategies or portfolio hedging concepts. The charting features encompass technical overlays for deeper analysis, and their platform also includes a stock and ETF screener that can be tailored according to user preferences. Moreover, TradingBlock’s Probability Calculator for options trades operates on the analytics provided by Tradespoon.
Education
TradingBlock’s website has rarely been updated recently. While some rudimentary trading education is provided, most of the instructional content is sourced from third parties. However, the evaluation of this section also factors in security considerations, an aspect that TradingBlock successfully addresses.
Pros & Cons
Pros
- Attractive low-margin rates
- Uncomplicated platform
- Automated trading decision
Cons
- Absence of a Mobile Application
- Only dependence on Adobe Flash
- An outdated educational material
Is TradingBlock Worth Broker to Get?
While TradingBlock provides attractive low-margin rates and the convenience of automated trading, the brokerage service is not recommended for traders because of the lack of a mobile application available on Appstore.
Conclusion
TradingBlock might be an attractive choice for beginner and seasoned investors seeking a user-friendly platform. However, the absence of a mobile app and up-to-date educational resources could deter some users. As with any investment platform, potential users should carefully evaluate whether TradingBlock’s features and services align with their individual trading needs and preferences.
FAQs
TradingBlock is part of the AOS, Inc. corporation and specifically caters to retail traders and investors. The platform is designed to provide users with a seamless experience by linking with third-party research and analytical tools.
TradingBlock allows users to trade in Stocks, Exchange Traded Funds (ETFs), and Mutual Funds. It also has an internal tool that allows users to swiftly generate closing orders for any existing open positions.
TradingBlock charges regular commissions starting from $0.001 per share with a minimum of $5. For options trades, there is a fixed base fee of $5, irrespective of the number of legs traded, in addition to $0.50 per contract. If accounts remain inactive for over a year, inactivity fees ranging between $2 and $5 may apply.
TradingBlock’s customer service is operational from Monday to Friday, between 7:30 a.m. and 4:30 p.m. They offer support through email, phone, and fax. However, they do not provide live chat support. The customer service is available only in English.
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