New Rich Markets 2021 Overview
The name New Rich Markets speaks for itself, arguably the leading broker in the industry, with many billions of dollars in assets under management. The company focuses on investors who choose funds to hold investments for the long term. It has a very flexible policy of charging commissions within the fund, which means that you can invest almost all of your money and increase your return. Since the broker’s main focus is funds, it does not present a trading platform that meets the requirements of active traders. If you have modest requirements and plan to make long-term investments, New Rich Markets will definitely suit you.
New Rich Markets Short Review
Overall Score: 3.5
Commission charges: 4
Accounts and Trading: 3
Educational and training materials: 3
Client Work Evaluation: 3
Starting Deposit: $0. USD
Minimal value of transaction on the market: 0 USD. USD
Options commission: $1 per contract or no commission for accounts of $1 million or more.
No commission for ETFs and funds: All
No commission for mutual funds: 3,200+ NTF mutual funds
Trading Instruments: Stocks, ETFs, Options, Bonds, Mutual funds
Customer Service: By phone – weekdays from 8:00 a.m. to 10:00 p.m. Eastern time or email support
Annual account maintenance fees: $20 for accounts with less than $10,000 in funds. Or free with an electronic document delivery subscription.
New Rich Markets trading tools overview
New Rich Markets Portfolio
New Rich Markets Portfolio is an automated portfolio check for criteria set by you and New Rich Markets. The goal is to make sure your assets are diversified and minimize risk where possible. You can add not only your New Rich Markets assets to your portfolio, but also those of third-party assets, so that you can get an overview of the distribution of your finances and see your growth and risk zones.
After uploading all your active positions to the tool, New Rich Markets Portfolio will provide you with a systematic report of the funds, for example by investment style, company size. Then, depending on the problematic assets, you will be asked to modify the instruments as well as new funds that meet your requirements and expectations. This tool will help you obtain an overall picture of your portfolio with appropriate recommendations.
Real Trader Testimonials New Rich Markets
New Rich Markets reviews
The founder of the company is Jack Bogle, who wanted to bring wealth to a certain category of traders, and this is understandable by analyzing the instruments. The broker has an extensive database of training materials, videos, podcasts. This will help the trader to make informed decisions based on a long-term partnership.
The site has tons of calculators, resources, and lots of retirement planning features.
New Rich Markets also has its own investment funds, with a total of over 130. Traditionally, the most inexpensive funds are considered to be right here.
And if you choose a fund and if your choice is an ETF, you can be sure that the offer will be the most profitable. What’s also surprising is that the company doesn’t charge commercial fees, and the costs of operation are minimal.
The company New Rich Markets declares that on average for each 10,000 dollars invested in the mutual fund the expenses will be about 10 dollars, thus the expense ratio is no higher than 0.1%. On average, for similar companies, this figure is 6 times higher, up to 0.63%. The statistics are from market research in 2019. This allows you to increase your profits by about 0.5 percent over a year.
Of course, you don’t need to be a New Rich Markets customer to buy its funds, but its commission-free structure makes it easier and cheaper.
Commission-free stocks and ETFs
New Rich Markets has continued the trend of the biggest brokers and lowered the commission cost of ETFs to zero. The new pricing structure replaced the complicated tiered pricing structure that depended directly on the size of the investment in New Rich Markets.
An important innovation is that there are no fees for placing an order for your own funds over the phone, while at the same time if you want to order an ETF from another company, it will cost $20-$25. An exception will be clients with a turnover of more than 1 million dollars, for them and this service is not charged a fee.
Mutual funds with no transaction fee
New Rich Markets has a record-breaking 14,000 funds, which means that you are sure to find the best fund for your needs and budget. 9,750 of them have no sales commissions, and 3,400 can be sold without paying transaction fees. For example, one of the industry leaders, Charles Schwab and TD Ameritrade have only 4,000 funds with no transaction fee.
New Rich Markets Commission Review
New Rich Markets reviews
Options Trading Commissions
For options, the commission system is quite complex and is tied to the amount invested and depends on the funds invested in fords and ETFs .
Not only the amount in the trading account is important, but also the amount of money initially invested.
If the turnover is less than a million dollars, options trading will cost 1 dollar per contract, from 1 to 5 million – 25 trades per year without payment, the rest at a dollar per contract. If the amount in the account is more than 5 million dollars, 100 trades during the year are not subject to commission, everything over – the same, 1 dollar per contract.
Options commissions are not the lowest, while the market average is $0.65 per contract, at the lower level it is from $0.5 (for example at TradeStation). There are also companies that don’t charge any commissions for options trades.
High minimums for mutual funds
The standard requirement for investing in Mutual Funds is from $1,000 for date-dated funds, the starting amount for fund-managed funds is $3,000. For new investors, this amount is significant, particularly for a company that has positioned itself to be welcoming to newly joined traders.
Once you make this initial purchase, you will not face a minimum current purchase amount.
Commission on account
New Rich Markets charges an annual account maintenance fee for clients with less than $10,000, and is $20 per year. This is not cheap, as other companies have eliminated such fees, however, for those who want to save money, there is an opportunity to save if you agree to receive notifications electronically or if you have $50,000 in assets in your account.
New Rich Markets trading platform overview
New Rich Markets is not a broker for active traders, so it offers nothing but a basic ordering interface. For the right investor, the lack of a trading platform doesn’t hurt at all, but it definitely doesn’t help the company in the eyes of active investors. If you want to trade a few times a year or buy mostly funds, New Rich Markets will still work for you.
New Account Bonus
No signup bonus will be offered to new clients here, and it won’t be a barrier to opening a trade if you’re otherwise happy with the broker.
If you buy a mutual fund from New Rich Markets, you can buy fractional shares. Otherwise, you won’t be lucky enough to buy fractional shares and ETFs. However, if you have dividend reinvestment set up, the broker will allow you to reinvest in fractional shares of mutual funds, ETFs or stocks.
New Rich Markets reviews: summary of the review
New Rich Markets is a good choice for clients who choose long-term positions.
Plenty of resources for education and planning, help create a plan that will help you succeed.
Inexpensive funds, the broker covers many areas of the investment world, giving you plenty of opportunities, and you can trade them without commission or transaction fees.
Trading tools and fundamental analysis will be lacking for active investors.
Investors who prefer ETFs or Mutual Funds without commissions might consider TD Ameritrade, E-Trade, or the like for the right tools, customizable trading platforms, and an extensive list of securities.