If you’re looking for an online broker, read this AutoShares review. We look at how AutoShares works, the pros and cons, and their customer service and offerings. There are many brokers available to traders. As a result, choosing the best one for you allows you to trade worry-free.
AutoShares Review of the Platform
AutoShares is a ViewTrade Securities, Inc. division, a FINRA and SIPC-affiliated online brokerage. The organization’s founding principle is to streamline the management of financial assets through digital technology to automate investment activities.
AutoShares offers diverse financial services that cater to the needs of various investors, such as strategic planners, tactical traders, and casual investors.
The platform enables trading in various asset categories, including Stocks, Options, ETFs, and Mutual Funds.
Benefits of Using AutoShares
If you subscribe to investment newsletters or trade signals published by third parties, you can use the AutoShares Autotrading Platform to execute autotrades at your leisure using their provided alerts.
Your AutoShares Online Brokerage Accounts get automatically credited with investment orders and trading transactions per your pre-set instructions. As soon as a trade is processed, you will receive a notification. You can monitor your online investing and trades from any location.
There’s no reason to be cooped up at your job all day. Within the confines of your AutoShares Online Brokerage Account, you can self-direct the execution of automatic transaction processes.
AutoShares Review of Fees
Through self-directed online brokerage accounts, AutoShares allows individuals to engage in online trading and execute trades automatically in options, stocks, and exchange-traded funds (ETFs).
They charge the following commissions on stocks and ETFs:
- $6.95 for each trade plan.
- Mutual funds—$49.95 per trade
- Bonds—$35 per quoted bond.
- ACH financing free
- Phone-assisted trades cost $39.95 per trade.
- AutoShares costs $4.95 for each option trade, based on monthly volume.
This link will allow you to view AutoShares’s pricing in more detail.
Pro’s
- If you subscribe to investment newsletters or trade signals published by third parties, you can use the AutoShares Autotrading Platform to execute autotrades at your leisure using their provided alerts.
- You have the entire world as your trading platform. Engage in trading exchange-traded funds (ETFs), equities, and options. The Account Dashboard provides a comprehensive overview of your account, including summaries of your orders, positions, and stock and options order entries. Additionally, you may access charts and studies for further analysis.
- Receive Price Alerts, Text Messages, and Emails on the Web, Android, and iOS.
- Receive weekly email alerts detailing the most important earnings reports due that week. You can get the emails once a week or every workday.
- Find the most important premarket stock movers, get alerts tailored to the symbols in your Custom Watchlists, and keep tabs on other market leaders.
- Using virtual money, AutoShares provides a free sample account where you may test the web trader’s features and several trading approaches without risking your own money.
Con’s
- On the pricier side compared to its competitors
- Despite having a substantial global presence and serving clients in over 50 countries, AutoShares is still unavailable in many other nations.
AutoShares Review of Accounts
Standard Accounts
- Individual
- Joint Tenants with Rights of Survivorship
- Joint Tenants in Common
- Custodial
Entity Accounts
- Corporate
- Limited Liability Corporation
- Sole Proprietorship
- Partnership
- Revocable Personal Trust
- Non-Revocable Personal Trust
- Investment Club
IRA Accounts
- Traditional IRA
- SEP IRA
- Rollover IRA
- Roth IRA
Margin Accounts
- Margin Equity Requirements – Day Trade Margin Account
- Margin Equity Requirements – Non-Day Trade Margin Account
- Margin Maintenance Requirements
For more information on the above types of accounts, follow this link
Platforms for AutoShares
AutoShares provides a diverse selection of account types, such as Individual, Joint, Custodial, Retirement accounts (Traditional, Roth, and SEP IRAs), and accounts for LLCs, corporations, and trusts. The platform’s technology facilitates seamless operation and is accessible via mobile and online applications.
How Easy Is It to Create an AutoShares Account?
The steps involved in establishing an account with AutoShares are straightforward. A brief online application typically takes around ten minutes to complete, which is the first step in the process.
Applicants must provide a valid form of identification, such as a driver’s license, a passport, or a state identification card, as the next stage in the process.
You must fund the account via an ACH, wire transfer, or account transfer to proceed to the following stage. You need to find the account to start trading. A minimum deposit of $2000 is required to open an account with AutoTrade.
AutoShares Review of Some Key Features
- Notifications of Earnings for The Day: You will receive emails about the most significant earnings reports scheduled to be released that week. You can select any day of the week to get the emails, or you can opt to receive them on every workday. Expect them to send around seven o’clock Eastern Standard Time.
- Find the most important premarket stock movers and other market heavyweights, and set up alerts based on your preferences and the symbols in your Custom Watchlists.
- As well as reports based on the symbols in your Custom Watchlists and other significant option order flow sentiment in the market, you can look at the most recent bullish and bearish option order flow sentiment. Expect the emails to arrive around one o’clock in the afternoon, Eastern Time.
- You can set up alerts to tell you when the stock or option prices in your Custom Watchlists change or when the price of a certain symbol (like a new 52-week high or low or a price above or below a specified level) meets your criteria. At 11:00 AM ET and 2:00 PM ET, you will receive an email if there are any important notifications for that day.
- Multiple accounts may be easily managed from a unified interface, regardless of whether you use a PC, Mac, or Mobile Device. Customize the layouts and display your specific info on your trading screens and account dashboard. Create a unique trading interface and dashboard.
Customer Service with AutoShares
You can reach a live person in customer service by dialing 1-800-847-8495. If you still have questions after reviewing the website’s content, you can contact them directly by email. AutoShares also has a WebTrader User Guide available on their website.
Final Thoughts: AutoShares Review
We hope you enjoyed this AutoShares review. AutoShares offers a platform that is both user-friendly and easy, making it suitable for both individuals and institutions to manage their assets successfully.
The vast selection of supported assets, the variety of account types, and the complete instructional resources offered by the platform were designed to accommodate users with varying degrees of competence and distinct financial goals.
AutoShares is a platform that is both user-friendly and offers both self-directed investing as well as automatic trading through its platform. In addition, it is compatible with third-party systems, which guarantees a comprehensive and satisfying experience when investing in financial resources.