AutoShares Review & Rating 2023Visit AutoShares
If you are looking for an online brokerage to participate in the USA share market without the hassles of maintaining your account through a series of complex registration and verification. In that case, AutoShares could be the perfect solution for you. The online brokerage house is linked with NYSE, Arca, CBOE Edge, NASDAQ, and FINRA, and these are the big guns of the US share market. Thus, its affiliation with such big names speaks of its quality assurance, market reputation, trustworthiness, and easy investment policy for people even living outside America.
During our AutoShares review, we found that the company has been in the US share market platform for over 17 years. It is a sister concern of ViewTrade Securities. The parent company was founded in 1989. Since then, it has been a premier platform for many brokerage firms, banks, and businesses for their necessary information and guidelines on the brokerage industry.
Additionally, AutoShares is a member of SIPC and enjoys SSL certification for safe and scrutinized transactions without any privacy breach. Over the past 17 years, the company has built a great reputation for versatile investment options, easy and quick account creation of different kinds, outstanding customer care service, and legit terms and conditions for the investment safety of every user, including American and non-Americans.
In this AutoShares Review article, we are going to be unbiased as much as we can. AtoZ Markets is in no way responsible for any opinions of the writer. If you are from AutoShares and think that the writer did something wrong, please contact the AtoZ Markets editorial team.
Top Stock Brokers 2023
路 AutoShares is a subsidiary company of ViewTrade Securities under ViewTrade Holding Inc.
路 ViewTrade Securities was established in 1989, and AutoShares has been in the stock market and brokerage industry for 17 years now.
路 Their website address is https://autoshares.com
路 ViewTrade Holding Inc., the parent company, is situated in the Greater Miami Area.
路 The online platform facilitates different types of share market account opening and maintenance services from standard to joint accounts.
路 AutoShares WebTrader is their official trading platform globally and is usable in Windows, Mac, iOS, and Android platforms.
路 AutoShares charges $1/100 shares for ETS and stock market operation.
The company didn't share their owner's name, establishment year, and detailed information about them.
Product And Service Offered by AutoShares
AutoShares aim to make your online stock market presence convenient and straightforward. Thus, they have designed their products and services to cater to the needs of different people. From account management to charting and technical analysis and regular newsletter and pricing alerts, AutoShares has a wide range of unique services and products. They have following products.
With this they offer you to stock trades, Options trading and ETFs.
Automated Copy Trading
It is free to join AutoShares copy trading. You can add auto trading strategies to it.
With AuroShares Automatic investing, you can trade shares, ETF, Mutual funds and bonds.
IPO and Direct Offerings
An IPO lets investors of all kinds to quickly discover opportunities to invest in publicly traded companies. With AutoShares, investors can buy shares of companies at the initial public offering value (with no additional charges or commissions) and before shares are listed on the stock exchange.
Online Brokerage Account opening and management:
AutoShares lets you open different accounts for different purposes in the share and brokerage market. Most traders will find their range of accounts more than sufficient to meet their requirements perfectly. When you open an account in AutoShares, you will avail the following benefits-
路 Online investing
路 Newsletter alerts
路 Scheduled and automated investments
路 Automated trading, etc.
We will discuss their account in detail in a different section of this AutoShares rating and review article.
Technical and Charting Analysis
AutoShares platform combines an array of charting and technical information and analysis for the data freaks. The account holders will love the straightforward and detailed pricing of everything they can trade in their AutoShares WebTrader platform. So, you are never left with misinformation with its unique analysis and charting for traders.
Last but not least, you can set up price alerts for different types of investment options on AutoShares USA. You can easily manage these pricing alerts from your mobile device with a few clicks of the buttons. You can avail of the following alerts through their newsletter service too.
路 Options Chains
路 Account Balances
路 Live Charts
Pros and Cons of AutoShares
AutoShares has swept the stock market lately. While the trading platform brings a comprehensive guideline on account management, charting information, multiple account setup, and pricing alert services, along with outstanding customer care. However, during our review of AutoShares, we found it extremely expensive.
路 Even people outside America can avail themselves their services and facilities
路 Different types of account creation facilities for every person
路 Prompt and comprehensive newsletter service for detailed information
路 Customer support service is reliable and pretty prompt
路 Automated service for trading and investment for all users
路 Quick and easy management facility for the account holders
路 Accessible from anywhere worldwide and any devices almost readily
路 The online brokerage platform is extremely expensive
路 No opportunity to star account on $0 investment
AutoShares doest provide any investment advice.
Is AutoShares a Trusted or Scan Broker?
AutoShares squares off with the USA's leading brokerage firms and platforms, thanks to its intuitive and engaging website. Their website has been in operation for at least 17 years now. So, it is nothing new to the traders. This long history of the website itself speaks about the trustworthiness of the platform.
On top of it, AutoShares has SIPC accreditation. Thus, you can trust its credibility. What's more, you will love that AutoShares also has SSL certification. So, your transaction and data are encrypted for total security. The platform also ensures your privacy's safety, so you rest assured of privacy, safety, and credibility.
Also Read: TradingBlock Review To Know If it's A Scam or Reliable Broker.
Trading platforms of AutoShares
In our AutoShares review, we will check their trading platform. One of the key advantages of AutoShares is its intriguing and highly sophisticated trading platform. The AutoShares WebTrader is among the best online trading platforms we have come across in recent times.
You can access it from anywhere and customize its features to cater to your preference. The platform is usable from all notable PC and smartphone platforms, including Windows, Mac, Android, and iOS. Last but not least, it offers tons of information and facilities to run your account and make a profit.
Plus, their website is readily accessible and supports intuitive interaction for users. So, you can use it with ease.
AutoShares Review: Types of Account in AutoShares
Opening an account on the AutoShares trading platform brings multiple perks for you. You will get automated trading strategies, scheduled investment facilities, online trading and investment, pricing alerts, etc.
There are wide ranges of AutoShares accounts to cater to the needs of every person worldwide. It includes:
If you are a beginner and tight on budget, the standard account is the perfect way to kick start your journey on the platform. Even it comes with various account types.
路 Joint Tenants with Rights of Survivorship allow you to attach survivorship who can own the account after the death of the standard account holder.
路 Joint Tenants in Common will allow you to entitle to the specific portion of the account holder, unlike the survivorship.
路 A custodial account allows you to open an AutoShares USA account for minors. You can control the account proceedings and later transfer it to the account holder when he attains adulthood.
Unlike the standard account, Organization Account in AutoShares is designed for businesses that aim for large investment in the platform. Some of the key perks and account variations of it are:
- Investment club
- Partnership account
- Non-revocable personal trust
- Revocable, personal trust
- Corporate account
- Limited liability corporation account
- Sole proprietor account
If you are willing to automate your AutoShares trading and online investment, a margin account would be the perfect option to get started with promptly. You will find two types of margin accounts.
- Day trade margin account
- Non-day trade margin account
You need to fulfill the standard requirements of AutoShares, just like you have to do with any of their accounts.
If you want a tax-deferred facility, opening an IRA account will be the right choice. It lets you get a tax-deferred facility of $4000 each year. And if you are above 50, you will have $4500 of the tax-deferred facility. It is designed as a retirement account and will mature when you reach 59.5 years. If you want an early withdrawal, you will have to abide by a 10% penalty from AutoShares.
What You Will Get:
AutoShares online brokerage allows you to use their automated and scheduled investment for shares and stocks. You can even sell different types of products through the platform given that AutoShares permit. Moreover, the CoolTrader system will allow you to set your trading conditions for safe and secure trading without any profit loss.
For options trading in AutoShares, you can choose automated strategies. Or, you can choose to control the account and trade independently. The automated schedule will let you set a schedule for the trades and transactions for 18 months. Isn't it incredible?
What Won't You Get?
Unlike any banking and investment financial service provider, AutoShares doesn't have any regular savings facility. You may only deposit and trade using the online platform. It doesn't let you invest money and get an interest like you would do with other banking channels. However, their IRA retirement account lets you save investment and continue trading until your retirement at 59.5 years of age.
Fees and Commissions
Likewise, for every online broker, AutoShares also has a set of rules of their costing and other fees for different platform uses. You need to learn about their commission rates and possible fees for different applications if you are truly serious about investing in AutoShares. Our AutoShares review found the following fees, commission, and charges for their applications.
The account fee on AutoShares varies depending on the exact type of account you have on the platform. As AutoShares has the widest range of accounts, the account fee is variable too.
In detail, you may visit the AutoShares account fee page to know more about their account, deposit, withdrawal, delay, and inactivity fees.
AutoShares have two different types of software fee for their Web Trader application. You will get two options for suing Web Trader:
- Professional user
- Non-professional user
If you are a non-professional user, you will need to pay $39.95 per month for using CoolTrade, although you might use Web Trader like a professional user. For regular users, AutoShares charge $15 per month, and usually, there's no promotional offer for it.
If you want to increase your leverage on the AutoShares platform, you can avail of their margin trading facility. However, the fee for margin trading with AutoShares isn't fixed. The exact fee will depend on the Debit rate during the transaction time and through which AutoShares complete their transaction clearance and processing.
The routing fee refers to the fee that AutoShares charges to complete your order through Alternative Trading Systems (ATS). It depends on the type of stocks such as ARCA, BATS, and NSDQ you will choose for the order completion.
The exchange fee isn't more than $0.005/share for these stocks. If you use the CBOE platform for the order, the fee will vary from $0.18 to $0.65 for each contract.
AutoShares review suggests that you might be charged $1 for 100 shares in ETS and stock exchange in the platform. You would also need to pay $4.95 for each trading option on the platform. The fees for account statements and trade confirmation through the electronic medium will cost you anywhere from $2 to $5.
The company follows the standard practice in the brokerage market. It follows as:
路 $.75/contract for less than 500 contracts per month
路 $.50/contract for 501 to 2000 contracts per month
路 $.45/contract for 2001 to 5000 contracts per month
路 $.35/contract for 5001 to 9999 contracts per month
路 $.30/contract for contracts over 10000 per month
We have gone through the AutoShares website and found their customer care and support department highly customer-friendly and functioning. You can contact them through their email and phone number for any inquiries, and they will give you feedback promptly.
Moreover, there's an option to fill up their online query form, and they will soon contact you. We have seen their customer care remains open from 9 AM to 5 PM EST on weekdays. Thus, you can contact them during this time, and they will surely offer you excellent troubleshooting of any problem you face regarding their website, account, or transaction.
However, their website doesn't include any live chat box or chatbot; likewise, many brokerage houses will. So, it could be a turn-off for users who are used to doing live chats for their problems. Thankfully, AutoShares covers it up with their great response time and feedback to every valued customer they have.
Is AutoShares a Regulated Broker?
As an online brokerage house and investment firm, AutoShares follows the rules and regulations of the SEC (Security and Exchange Commission). So, you can depend on their transaction process and investment policy confidently.
AutoShares is also a registered member of multiple brokerage systems. On top of it, SIPC and FINRA regulate AutoShares just like they do with other online brokerage systems. It should bring you peace of mind since, according to FINRA and SIPC regulation, AutoShares has a $500000 fund for any customer complaint.
On top of it, AutoShares follow SSL certification for their transactions. It means your data is encrypted, and your privacy is ensured. Therefore, you won't have to worry about your information, thanks to their high-end data encryption service.
As an individual or organizational investor, you would want dependable service and authentic information from your select online brokerage agency and firm on different investment plans, dividends, transaction policy, and fastest updates.
The strongest suit for AutoShares is their readily available website accessible from anywhere, quick feedback, and multiple account facilities to cater to the needs of different people. During our detailed AutoShares review, we found their automated and scheduled trading system highly effective if you are on a tight schedule due to jobs or other businesses. Thankfully, you can set scheduled trading for 18 months in their automated trading system, and also, there're tons of customization facilities to get your tailored service. Last but not least, AutoShares is a strong and reliable platform for automating your future investment without any complexity and hassles. Therefore, it remains one of our top online and automated brokerage firms and automated investment partners for people seeking a secure and hassle-free investment option.