TradeHawk Review 2024

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Written By
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Written By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
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Fact Checked By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
Updated

2.5 / 5
TradeHawk is #34 in our broker rankings.

TradeHawk offers low-cost stock and options trading via Tradier.

$0
TradingView
Stocks, Options, ETFs
-
USD
Wire Transfer, ACH Transfer, Cheque

Stock Trading

Speculate on 22 stock exchanges with competitive pricing

TradeHawk is an advanced trading terminal, ideal for experienced investors. Hosted by the Tradier brokerage, TradeHawk supports multi-asset global investments on an innovative yet user-friendly platform. This review will cover how to open and fund an account, software features, regulations, minimum deposit requirements, and more.

TradeHawk Headlines

TradeHawk is a fully featured stock and options platform designed by industry experts. The intuitive platform is exclusively offered by Tradier Ltd and is one of the most powerful and cost-effective ways to trade options.

Developed and launched by OptionEyes Holdings LLC in 2017, the terminal aims to democratize options and equity trading, combining simplicity and transparent pricing in one terminal.

Dan Raju, Founder and Chairman of the Tradier enterprise, commented: “Our partnership with TradeHawk represents our commitment to power the next generation of trading platforms. It humbles everyone at Tradier Inc that we can partner with innovative companies like TradeHawk that offer products and choices that in many cases never existed before”.

The hosting broker is registered with the Securities and Exchange Commission (SEC) as a broker-dealer. It also has membership with the Financial Industry Regulatory Authority (FINRA).

Trading Platform

The TradeHawk platform is one of several third-party software providers. There are two TradeHawk solutions available to retail investors; TradeHawk 1.0 and TradeHawk 2.0. The latest version provides various updated tools, analysis features and access to improved order management.

Both terminals are available to download to MAC or Windows devices. There is no webtrader interface. You can also find a useful download user guide and YouTube video content, with links directly from the broker’s website.

TradeHawk platform review
Trading Platform

We have outlined the main functionality of both terminals below:

TradeHawk 1.0

TradeHawk 2.0

Products

The broker offers access to stocks, options and ETFs only. Day traders can access the stock and ETF market, with 22 stock exchanges and 14 options markets. In addition to equity trading, Tradier offers low-cost options trading at $0.35 per contract or a monthly all-inclusive options subscription from just $10. TradeHawk 2.0 order entry includes equity, single leg options, and complex option orders.

Investors have access to four major order types when trading stocks and options; market order, limit order, stop order and stop-limit order. There is also the option to mark positions as ‘good for the day’ or ‘good until canceled’. Equity and option orders are routed through the broker’s clearing firm, Apex Clearing.

Note, TradeHawk is not compatible with forex, futures, cryptocurrency, or NFT trading. This includes investing in Bitcoin (BTC), Ripple (XRP), Kadena (KDA) and Stellar Lumens (XLM).

Spreads & Fees

The Tradier brand maintains a simple fee schedule. Clients utilizing the TradeHawk platform pay a subscription fee plus a commission on some trades. Importantly, fees are reasonable, with competitors including TradeUI charging a $49.99 subscription fee per month.

Clients of Tradier and users of the TradeHawk platform will pay the following costs by account type:

Other fees include:

Leverage

The maximum leverage available to retail traders will depend on several factors including account balance and financial product. Some assets, including shares trading at less than $3, options and volatile securities, are not available to trade with margin. The typical initial margin requirement for equities and ETFs trading above $3 per share is 50%, meaning half the money required to purchase these stocks can be borrowed.

A daily interest fee will be charged for accounts with outstanding debit balances. Also remember, leverage can magnify profits as well as losses.

There are different margin plans for options strategies, these can be categorized into the following:

Mobile Trading

The TradeHawk platform is available as a mobile app, meaning investors can download the application to iOS and Android devices directly from the broker’s website or via the relevant app store. The app is free to download.

TradeHawk mobile app review
TradeHawk App

Access the tools, features and functionality found on the web trader terminals. UX reviews are positive, highlighting customizable navigation and fast processing times. You can manage your account, open and close positions, check live pricing and view charts while on the go.

Payment Methods

Deposits

There is no minimum deposit requirement to open a TradeHawk cash trading account. To load an account, simply login and select the ‘fund’ tab within the platform interface. The broker accepts four deposit options; ACH transfer, cheque, bank wire transfer and ACAT transfer. Deposited funds via all payment methods may be held for up to four working days for any new account holders.

Withdrawals

Withdrawals can be made via ACH, bank wire transfer or cheque requests. ACH withdrawals are limited to $25,000 per day. Wire transfer requests must be received by 1 PM EST to be processed the same day.

Demo Account

A free demo account is available to all new TradeHawk clients, similar vs TradeStation and Active Trader Pro. A simple online registration form is required to start trading. Access up to $100,000 virtual funds to practice strategies risk-free and learn platform features and tools.

Additionally, new investors can book a free 45-minute online platform tour with a TradeHawk pro. This can help you learn tips and tricks before entering the live environment.

Deals & Promotions

At the time of writing, there were no live promotions or bonus deals. Our review did find some historical promo code offers on websites such as Stocktwits and Wiki. These referral promo deals included a 20% discount on subscription services and a $10 fee reduction for the first month of trading.

Keep an eye on the broker’s website or social media channels such as Twitter for the latest financial incentives and promotions.

Regulation & Licensing

Tradier Brokerage Inc is registered with the Securities and Exchange Commission (SEC) as a broker-dealer. It also has membership with the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). SIPC can provide up to $500,000 compensation if the broker goes into insolvency, which includes a $250,000 limit for cash.

Note, TradeHawk customers are subject to SEC’s regulation T. The rulings stipulate a holding period when shares of stock or option contracts are sold in a cash account. For options, this period is one business day.

Additional Features

We were disappointed with the limited educational resources available to TradeHawk clients. The broker offers a subscription newsletter service and blog with the latest news updates and price prediction information. However, it would be good to see a series of beginner options trading tutorials or PDF keyword glossaries.

You can find an embedded TradeHawk user manual and video content on the broker’s website with various topics covered. This includes understanding a price quote, navigation hacks and reading profit & loss holdings. Nevertheless, other platforms aimed towards the advanced investor, such as Interactive Brokers, are doing a much better job in the education department.

Tradier Brokerage’s research is provided by TradingView. The research page includes an overview of stocks, listings of financials, the latest news timelines and technical analysis reviews for different periods.

Account Types

TradeHawk retail clients can open one of two account options; Pro or Elite. Both accounts offer access to services on MAC or Windows devices. The Pro account provides multi-leg option strategies with a $10 subscription fee per month. The Elite account is designed for active traders, with no contract commissions.

You must have an account with Tradier before you can utilize the services of TradeHawk. A simple online registration form is required with mandatory KYC verification documentation.

The US-based broker accepts customers from 120 global locations including India, Guyana, the UK and more.

Options Accounts

Due to the risks involved with options trading, the broker implements account levels with varying accessibility to features. Individual investors are evaluated based on previous experience, risk tolerance and financial objectives. Some levels require a minimum account value.

The account levels are as follows:

Benefits

Drawbacks

Trading Hours

The published TradeHawk trading hours are 9:30 AM EST to 4 PM EST, however these may vary by instrument. Options on some securities such as SPY, QQQ and VXX trade until 4:15 PM EST.

A session timetable is also available on the broker’s website to stay up to date with upcoming public holidays, daily break sessions and market closures.

Customer Service

Tradier offers several customer support options available Monday to Friday 8 AM to 5 PM EST. Use these details for any TradeHawk platform queries. Services include telephone, online contact form and a headquarters office address. The broker is also present across social media channels including Twitter and Github. In addition, a self-help question and answer page is available with details such as QR code downloads or what to do if a login password is not working.

Contact details:

Security

Traders using the TradeHawk platform should feel assured that the company follows comprehensive safety protocols. Personal and financial data is exchanged with encryption between the broker and the terminal. Two-factor authentication (2FA) can also be added to trading platform accounts. This added layer of security uses a verification code every time you log in to your online account via an authenticator app or email address prompt.

TradeHawk Verdict

With so many platforms connected to Tradier, it can feel difficult to navigate all the choices and prices. The TradeHawk proprietary platform is impressive, particularly for active investors with full access to real-time market data and all the rich features of a professional trading platform. The low per-month subscription fee also makes it an exciting solution for options trading.

FAQs

What Is TradeHawk?

TradeHawk is a cutting-edge stock and options trading platform designed by professional traders for retail investors. It is exclusively offered by the Tradier brokerage and is one of several third-party terminals offered by the broker.

What Assets Can I Trade On TradeHawk?

TradeHawk provides access to stocks, options and ETFs. Investors can trade on the stock and ETF market, with 22 exchanges and 14 options markets. This is relatively limited vs TradeStation that provides opportunities on indices, crude oil, bonds and other futures contracts.

Does TradeHawk Offer A Demo Account?

Yes – TradeHawk provides a paper trading account, available to all new retail clients. Utilize virtual funds to practice strategies risk-free and view platform features.

Is TradeHawk Free To Use?

TradeHawk is a free platform for Tradier customers. Investors will be required to pay the broker’s typical fees, varying by account type.

Is TradeHawk Safe?

TradeHawk has been developed by OptionEyes, exclusively for the Tradier brokerage. The broker is registered with the Securities and Exchange Commission (SEC) as a broker-dealer. Additionally, the company has membership with the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Top 3 Alternatives to TradeHawk

Compare TradeHawk with the top 3 similar brokers that accept traders from your location.

  1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

    Forex trading involves risk. Losses can exceed deposits.
  3. FOREX.com – Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

TradeHawk Comparison Table

Compare TradeHawk With Similar Brokers
TradeHawk Interactive Brokers IG FOREX.com
Rating 2.5 4.3 4.4 4.5
Markets Stocks, Options, ETFs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, Stocks, Futures, Futures Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $0 $100
Minimum Trade $0 $100 0.01 Lots 0.01 Lots
Regulators SEC, FINRA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA NFA, CFTC
Bonus Active Trader Program With A 15% Reduction In Costs
Education No Yes Yes Yes
Platforms TradingView Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:50 1:30 (Retail), 1:250 (Pro) 1:50
Payment Methods 3 6 6 8
Visit Visit Visit Visit Visit
Review Interactive Brokers
Review
IG
Review
FOREX.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by TradeHawk and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare TradeHawk Trading Instruments
TradeHawk Interactive Brokers IG FOREX.com
CFD No Yes Yes No
Forex No Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities No Yes Yes Yes
Oil No No Yes Yes
Gold No Yes Yes Yes
Copper No No Yes No
Silver No No Yes Yes
Corn No No No No
Crypto No Yes Yes No
Futures No Yes Yes Yes
Options Yes Yes Yes Yes
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No No Yes No
Volatility Index No No Yes No

TradeHawk vs Other Brokers

Compare TradeHawk with any other broker by selecting the other broker below.

 

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TradeHawk offers low-cost stock and options trading via Tradier.