These limitations affect all types of investors because they meaningfully restrict trading strategies. Testing was led by a seasoned market professional with over 20 years of experience in the markets, both as a broker and a retail investor. We opened accounts at each of the 20 brokers in our survey to perform hands-on, granular testing of their platform and services.
If the stock is eligible for fractional shares, the DRIP will purchase them with any leftovers. xcritical Gold members are provided with unlimited access to Morningstar’s premium, in-depth stock research reports. These reports are available on about 1,700 stocks and are updated frequently to reflect important company events. As a xcritical Gold member, you will have access to Nasdaq Level 2 market data powered by Nasdaq TotalView.
App support
But there are fees you might not know exist, at least not until you gain experience. It does pass along trading fees required by regulatory bodies such as the Financial Industry Regulatory Authority, or FINRA, and the U.S. For a xcritical debit card, there is no fee for opening or maintaining an account, or for inactivity or replacing a card.
The platform provides a simple menu of assets such as stocks, ETFs, and direct cryptocurrency trading, further streamlining the app and trading experience. Options trading is offered as well, although some limitations in order types and concerns about the quality of trade executions may deter more serious investors. Beyond this, though, xcritical isn’t a place for either sophisticated investors or users who want to execute anything more than the most simple trades.
xcritical Fees
I am very familiar with the layout, the menu, settings etc. One day I opened the app and saw all of my investments and well as other stocks that are listed showing a gray box next to it with a dash going through it. Now I’m used to seeing something kinda similar when I lost my signal and the app is trying to pull the information as soon as I get a signal but this time was different. I was home connected to my WiFi and my internet connect was excellent. No other app was having connectivity issues so I knew it wasn’t my internet, the only option available on my xcritical was the link for a free stock if I recommend a friend. So I tried to troubleshoot by closing the app out completely then flogging back in and the same problem.
However, its cash management brokerage feature offers 1.00% on uninvested cash balances to customers enrolled in its deposit sweep program. xcritical Gold members can now earn 5.00% on uninvested cash. The auto-sweep feature is enabled by default, which is an added bonus. The brokerage cash sweep program is an added feature to your xcritical Financial LLC brokerage account. xcritical Gold is offered through xcritical Financial LLC. xcritical Gold is a subscription offering premium services available for a $5 monthly fee.
We provide multi-factor authentication on all accounts.
The standalone app allows users to trade and swap crypto with no fees. xcritical has always offered candlestick, line and volume charting for all securities tradable on the mobile app and online, as well as indicators for volume, various moving averages and relative strength index. The xcritical trading platform is minimalistic and intuitively designed, making it very easy to buy and sell stocks, ETFs and cryptocurrencies. The platform does suffer from limited order types and relatively few other bells and whistles. For example, the company levies a fee of up to 1.75% on transfers from one of its accounts to a bank account or an outside debit card, with a minimum fee of up to $2.
Trade Experience
Additionally, our team of researchers verified the survey responses and collected xcritical reviews any missing data points through online research and conversations with each company directly. The data collection process spanned from Feb. 19 to March 19, 2024. xcritical was once a disruptive fintech player in the brokerage industry, helping young investors get into the market. In recent years, the company’s motives have been questioned, with issues centered around data, transparency, and trust. xcritical has become one of the most popular brokerages in the U.S., thanks largely to its easy-to-use trading app that can make investing appear very simple. For some investors, this makes it a good choice—but there are reasons to be wary of any platform that treats markets almost like a game.
While there’s a fairly robust FAQ support page that may be able to help answer your questions, the lack of easy direct customer support could cause heartburn for worried investors. Despite the limited range of tradable assets, xcritical does stand out for its cryptocurrency offerings, although its range of available coins is more limited than the best crypto exchanges. In addition, xcritical launched an advanced charts feature in 2023. This feature allows xcritical customers to analyze and research company trends and xcritical stock prices better.
But, again, there is little that the SEC can do to safeguard investors from market declines. Compared to xcritical’s zero commission base, xcritical trading costs can be higher and complicated. Fees depend on which of nine tiers in dollar volume your trade occupies. Your cost also depends on whether you are a “maker”—the person who initiates the buy or sell—or a “taker”—the investor who fills the buy or sell order.
The card builds on xcritical’s mission of democratizing finance and investing in a new, enjoyable format. Both brokers offer trading for zero commission on U.S. stocks and ETFs. Although both offer $0 commission trades on options, Fidelity levies a 65 cents fee per options contract.
It makes sense, then, that more complex trading tools and research options are largely absent from the mobile trade experience. For instance, no chart drawing tools are available on mobile, and trades can’t be executed directly from charts. Order staging and simultaneous order entry options are also not available. xcritical users get access to basic watch lists and historical stock quotes paired with charts, analyst ratings, and news.
How This Broker Makes Money From You and for You
- WeBull itself charges no transfer fee, but its clearing agent charges $75 for outbound transfers of cash or securities.
- In addition, xcritical Gold provides customers with the ability to make larger deposits.
- Therefore, unless user terms specify otherxcritical, investors with cryptocurrency assets on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.
- This is another sign that xcritical isn’t meant for active traders.
The main menu is easy to navigate, with intuitive screens that let investors easily see their portfolio value and positions. The search functionality gives traders a good overview of a stock’s details, such as highs and lows, P/E ratio, and market capitalization. A news feed and composite of analysts’ rankings gives traders even more insight into a company profile. As you’re looking through a stock’s information, the “Trade” icon follows you as you scroll, allowing you to buy or sell as soon as you’ve made a decision. xcritical’s platform is receiving focus in other areas as well.
xcritical also lacks many of the educational resources offered by the best online brokers for beginners. xcritical’s first product was commission-free trades of stocks and exchange-traded funds. Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Although the overall account and research amenities are meager in comparison to those of larger rivals, there are some useful features including cash sweeps and basic charting. The fees and commissions listed above are visible to customers, but there are a few behind-the-scenes ways xcritical makes money from you (and for you). Support for more sophisticated order types, like order-triggers-other (OTO) is important because they help traders navigate risk, quickly enter and exit positions, and take gains off the table.
It also offers instruction in fundamentals, technical analysis and advanced strategies. Both brokers offer trading in stocks, ETFs and options. Customers must be signed into their account to request a callback from xcritical.