Bullish Bears Community's Marsco Review introduces you to one of the oldest online brokerages also known as Marsco Investment Corporation. Marsco Investment Corporation is a deep discount brokerage founded in 1986 and located in New Jersey.
The company caters to self-directed traders of stocks, ETFs, options, bonds, and mutual funds. And it enables investors to trade in a broad selection of securities without paying a lot in fees.
There are many different brokers available to you. Let's get into this Marsco review and see if this is a possibility for your trading style.
Marsco provides a free, web-based trading platform that's user-friendly yet rudimentary. The platform provides real-time quick quotes and market data.
And you get customizable watch lists, screening capabilities, news and research, a symbol lookup search feature, and basic charting. The home page displays a summary of your accounts and customized market data.
And the platform enables you to place trades and view your positions in real-time. Likewise, your cash and securities summaries and buying power are also available in real-time.
Moreover, the platform provides printable detailed reports on your realized and unrealized gains and losses. It generates estimates of your portfolio's dividend and interest earnings.
To place trades, simply use the drop-down menus and fill in the fields. The platform enables market, limit, stop and stop limit trades.
While the platform is sufficient for casual traders or beginners, the lack of advanced features may make it less suitable for active and experienced traders.
Direct market access is not available, and it does not offer hotkeys or advanced charting capabilities. However, the platform is intuitive and easy to use with good portfolio management features.
The accounts offered by brokers are important. Our trading service looks at what this broker offers in this Marsco review.
Marsco Investment Corporation offers individual, joint (JTWROS or JTCOM) and custodian (UTMA/UGMA) accounts. Additionally, Marsco offers traditional, rollover, ROTH and SEP IRA accounts.
The minimum amount to open an account is $2,500 in either cash or securities. $2,000 is the minimum requirement in equity for margin accounts.
And day traders must maintain a minimum equity level of $25,000. Fund your account via check, electronic funds transfer (ACH), or transfer your account from another financial institution or brokerage.
Marsco enables traders to open new accounts either online or by printing and mailing in applications. Marsco provides forms, applications, and agreements that you can download, print, and fill out.
To visit the Marsco Form Center, go here. Additionally, Marsco offers check writing service, interest on free credit balances over $1,000, and dividend payments.
The brokerage is a member of the SIPC (Securities Investor Protection Corporation) which protects account securities up to $500,000. In addition, Marsco is a self-clearing member of the DTCC (Depository Trust and Clearing Corporation).
Fees and commissions are important to customers. Our Marsco review delves into what they offer. Marsco offers attractive commission rates and charges no inactivity fees.
Bond trades require the assistance of a broker. Marsco provides multiple ways to reach their brokers and customer or technical support. Just call, fax, or use email or mail.
The rate for corporate and municipal bonds is $5 per bond. For T-Bills, notes, and bonds, the rate is $35 per trade. And the rates for all fixed income securities depends on the net yield basis. Visit Marsco for more information on fees and commissions.
What does this Marsco review tell us? The Marsco Investment Corporation brokerage's strong point is its deeply discounted commissions. And their platform is free and easy to navigate, though lacking in bells and whistles.
When it comes to trading, it's no secret that there’s a high failure rate for those who have not prepared and practiced. Using trial and error only in our industry can be costly.
Thankfully, there are successful traders at Bullish Bears who believe in paying it forward and are ready to help you alleviate your risk inherent to trading.
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