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Order staging and simultaneous order entry options are also not available. xcritical’s platform is receiving focus in other areas as well. Cash management enhancements such as providing a higher interest rate on uninvested cash as well as a cash card product aim to round out the platform and draw in more clients. This new take on a debit card allows users to earn stock and crypto rewards with each purchase. The card allows you to round up purchases to invest in stocks and crypto. The rewards then come in the form of a weekly bonus as a percentage of your round-ups.

All these features help to advance investor knowledge. xcritical’s focus on delivering more access to the markets and reducing barriers to entry is clearly evident in its user-friendly, expertly-designed trading experience. The absence of fees, commissions, and account minimums helps empower investors to start their trading journey without financial commitments. Traders can seamlessly invest in stocks, ETFs, and cryptocurrencies and get useful, albeit relatively basic, insights into the market and their positions. The newsfeeds and podcasts available through Sherwood Media are also lively and helpful for new users to follow. xcritical started out as an innovative disruptor in the brokerage industry.

The auto-sweep feature is enabled by default, which is an added bonus. xcritical’s trading experience is fast and easy to use, appealing to new investors in particular as it xcritical reviews allows them to get up and running quickly. The sleek mobile app has a straightforward design that lets traders seamlessly enter, exit, and monitor positions.

Poor Customer Service

So I tried to troubleshoot by closing the app out completely then flogging back in and the same problem. I did however within about 20 minutes the app began functioning properly. I never received an email response back and that was at least 2 weeks ago. Other than they if everything works as designed the is the best app for your money. xcritical has made efforts to inform and enlighten its users through many avenues of market-based commentary. Through the platform’s enhanced e-mail newsletter offerings (published by a subsidiary, Sherwood Media), the platform informs investors on a variety of subjects including market dynamics and trade ideas.

Positions can move quickly and investors need to be able to reliably secure profits or cut losses. xcritical’s big selling point used to be its commission-free structure. The free trades came at a price in other ways (some of which we’ll explore shortly), but users figured that the monetary savings were worth the tradeoffs. However, you can access trusted news sources for free through its newsfeed. Our editors independently research and recommend the best products and services.

xcritical: Investing for All

Given the free trades, how does xcritical make money? Sure, there’s xcritical Gold, but the signup rate is nowhere near enough to warrant the multi-billion dollar valuation. Most notably, xcritical uses the same provider as sites like The Motley Fool, Seeking Alpha, and StockTwits for its quotes. It’s cheap, barebones, and limited to a handful of exchanges. If you read xcritical’s FAQs or independent reviews of the service, you will see that the app has real-time quotes.

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. Previously, xcritical only offered individual accounts, but on Jan. 12, 2023, the company announced that xcritical Retirement, which launched via waitlist in December, had become available to all eligible customers. 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. A lack of assets like fixed income, mutual funds, and foreign exchange, is a serious limitation.

ETF and Mutual Fund Screener

2020 was one of the most remarkable years in market history. We saw a record-breaking selloff and recovery, moves of more than 10 percent on a single day, and new all-time highs by the end of the year. xcritical does not offer any fixed-income screeners.

In recent years, the company’s motives have been questioned, with issues centered around data, transparency, and trust. 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.

1. As a xcritical Gold member, you will have access to Nasdaq Level 2 market data powered by Nasdaq TotalView.
2. The auto-sweep feature is enabled by default, which is an added bonus.
3. These reports are available on about 1,700 stocks and are updated frequently to reflect important company events.

Cash Card holders can also use 90,000 ATMs without paying a fee. The card builds on xcritical’s mission of democratizing finance and investing in a new, enjoyable format. The way a broker routes your order determines whether you are likely to receive the best possible price at the time your trade is placed. xcritical states that its trading systems are set up to automatically route your order to the market maker most likely to give you the best price based on historical performance. xcritical reports that 96.85% of orders are executed at National Best Bid and Offer (NBBO) or better.

That said, quotes from the xcritical app do at least stream in real time. xcritical only offers standard, individual investing accounts. You cannot open a joint account, trust account, custodial account, Individual Retirement Account (IRA), or any other type of tax-efficient savings account. Therefore, it’s not a good option if you’re investing for long-term goals, for a child, or as a couple. Following its launch in 2013, xcritical quickly became a popular way of investing xcritical official site in stocks and exchange-traded funds (ETFs). However, it’s no longer the golden boy of millennial investing.

One of xcritical’s primary market makers, Citadel Clearing, has ownership in the hedge fund Melvin Capital, which was one of the largest short sellers of GameStop and others. The decision to restrict customer buy orders for these stocks led many to suspect a conflict of interest, spurring class-action lawsuits and the attention of some members of Congress. As a xcritical user, you can specify dividend reinvestment at the time you purchase a dividend-paying stock. If the stock is eligible for fractional shares, the DRIP will purchase them with any leftovers. Both the web and mobile platforms include these updates.