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Subject:  Re: Trademonster Bond Platform Date:  7/3/2013  4:00 PM
Author:  just1trader Number:  35006 of 36852

Don't want to transfer accounts if it's a total bust!


I notice that TM will rebate account transfer fees. The exit fee is $50 ($20 for an IRA). As to whether you --or anyone else-- should open an account with them for the specific purpose of investing/trading bonds is impossible to say, because people's needs and skills vary so widely.

Some poking around on the web turned up some customer-service horror stories that seem to have the usual distribution. About one-third are from the usual idiots who'd screw up a fast food order for themselves, never mind executing legal contracts which they obviously failed to read and whose terms they violated. Another third are obviously lying about what really happened. But some complaints about TM's clearing house, Apex, does raise genuine concerns. For this reason, I wouldn't dump a lot of money/assets into TM, as opposed to parking it/them with more major brokers known to be reliable.

Also, with bond investing/trading, the ever-present distinction between 'analysis' and 'execution' has be kept in mind. Is TM a good place do bond analysis? Is TM a good place to do bond executions? Both of those remain to be proven. All I did --so far-- is not find any obvious warning flags. Their platform is 'clean', and I like the watchlist capability. But how many bond trades I actually execute through them is a whole 'nother matter. I'd never use them for stocks or funds. For futures, they might not be bad. For doing options analysis, they seem to be very good (though not as good as IB for executions). Etc. Etc.

No broker does everything well. But TradeMonster is a fun shop I look forward to exploring.

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