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Tornado Online Stock Brokers Review


ConsumersAdvocate.org Rating: 4.7 / 5 (Excellent)
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Previously known as Nvstr, Tornado is an online brokerage geared towards learning and the sharing of ideas and strategies between investors of all knowledge levels. Founded in 2015, the company strives to empower investors by offering simple portfolio optimization and automated tools, eliminating the guesswork that can come from managing investments.

How is Tornado rated?

Breakdown

5.0/5
Investment Products
5.0/5
Features
4.5/5
Pricing and Fees
4.5/5
Customer Support and Reputation

Overall Rating: 4.7 / 5 (Excellent)

Investors who prefer a longer-term strategy and those new to trading are likely to appreciate Tornado’s community-focused approach and intelligent tools.

The company's portfolio optimization tool, known as One-Click Portfolio Optimizer, allows investors to skip the guessing game when it comes to which stocks and stock classes to invest in and how much to trade. Optimization is based on independent, Nobel Prize-winning research and provides a completely customizable process that aligns with each investor’s risk levels, views, and preferences while still leaving the final decision to the investor.

Tornado’s community tools are another way for members to increase their investment knowledge and learn about different strategies. Members can publish what they think about a stock and have other community members chime in with their own views on it. This feedback process results in more engaged and informed investors.

Tornado offers simulated trading accounts for novice investors who are still unsure about how the process works. These simulated accounts allow the investor to test the platform and try out its features without putting their money at risk.

The platform also provides educational opportunities for investors through its Learn and Earn curriculum, an interactive program available for all Tornado members. By completing courses geared towards their experience level, members earn experience points and are eligible to receive a bonus of up to $50. A live brokerage account is required to receive the rewards.

As an additional feature, new Tornado members can receive bonuses that range from $5 to $1,000 for their initial qualifying deposits, as long as those deposits remain in the account for one year.

Tornado Features

Features - 5 / 5

Tornado is distinguished among its competitors for offering a low cost of entry: you can begin trading stocks and ETFs through the platform with a $5 minimum deposit.

The company offers a feature called the One-Click Portfolio Optimizer which makes recommendations on how to rebalance your portfolio in an instant. You can accept the company's recommendations or not. At the end of the day, Tornado is a self-managed brokerage account.

Tornado offers a mobile app that allows customers to make trades, review educational materials, and optimize their portfolios from any location.
Portfolio Management
Self-Directed
Investment Products
Stocks
ETFs
Types of Accounts
Brokerage
Mobile App
Yes
Margin Lending
No

Financial Advisors

N/A

Trading Tools

Portfolio optimization, idea-sharing with other investors, personalized education materials.

Tornado Fees and Commissions

Pricing and Fees - 4.5 / 5

You can open a Tornado investment account with just $5. Tornado has a monthly membership fee of $7.99, with up to 40 free trades per month. Any additional trades are $4.50 each. There is no minimum account size required.

Other fees include ACATS Outgoing ($75), Returned payment of any kind ($30), paper trade confirmation ($2), paper or tax statement ($5), margin sell out or short forced buy-in ($25 each), and voluntary reorganization ($50).
Trade Cost/Commission
$4.50
Minimum to Open Account
$5
Fees
Trade Fees

Tornado Financial Strength and Customer Experience

Customer Support and Reputation - 4.5 / 5

Tornado is not rated by the Better Business Bureau or by consumer reviewers on Trustpilot. Nor has the company been rated by Moody's or Standard & Poors. There have been zero complaints against the company registered with the Consumer Financial Protection Bureau.
Year Founded
2015
SIPC Membership
Yes
Customer Support Hours
N/A
Contact Methods
Email
Date Collected
2022-05-11

Company Profile

Full Name
Tornado Online Stock Brokers
Company Website
Headquarters
New York, NY

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