FinanceBoards has just integrated 9 of the largest Brokers!Note: If you need a quick refresh of FinanceBoards, check out our "Intro to FinanceBoards" article first.
At FinanceBoards, we're always working on making this system as complete as can be. Our most recent feature is the integration of nine of the top brokerages (including Fidelity, Scottrade, Robinhood, and more) via broker aggregator TRADE IT . This integration allows users to trade directly from FinanceBoards.
To check out information on our integrated brokers, including transaction fees and minimum account balance, head to our “Brokers” page, which you can find by clicking your username on the top right and clicking “Brokers.”
If you already have an account with one of the listed brokerages, you’re set to link! To link to a broker, click the “Connect” button under the brokerage you’d like to connect to and input your broker username and password. (Keep in mind that FinanceBoards does not have access to any of your broker authentication information, including your username/password information; once you enter your valid broker username and password, FinanceBoards only receives an authentication token from the broker.) Once you’ve done this, you’re all set to view your portfolio and trade within FinanceBoards!
Once you’ve connected, you’ll see your broker’s card change on the “Brokers” page. You’ll now be able to view your accounts, positions, orders, and transactions by navigating the buttons at the bottom right of the card.
Next, let’s go over placing trades in FinanceBoards. The simplest way to do this would be by adding the “Trading Dashboard” dashboard to your dashboard menu.
When you click on this dashboard, you’ll see three broker-related widgets.
The first is a “Broker New Order” widget, which lets you choose an account and place a buy, sell, cover, or short order. You can give action descriptors such as quantity, price type (market, limit, stop market, stop limit), and and expiration (day or good till canceled).
The second is a “Broker Transactions” widget, which shows your transaction information (type, action, date, symbol, quantity, price, amount, commission).
The third is a “Positions Price Targets” widget, which shows your broker positions with their last price and price targets for that position from Benzinga, TipRanks, and Zacks.
Just like any other dashboard, users can add and delete widgets. The Trading dashboard has a “Stock Info Card” just beneath the other three widgets, so users can take a final check on information on the stock they’re trading, but users aren’t required to keep it, or any of the other widgets, on the dashboard. Once you feel comfortable editing your dashboards, adding any of these broker widgets to a dashboard is as easy as adding any other.
Previously, stock investors had to deal with switching from platform to platform when researching a stock, and then going to their brokerage to perform an action on it. Before this update, FinanceBoards had removed the first problem, having millions of data points an investor could use to reach a decision. Now, the need to perform trades in a separate tab or window is also not a problem. FinanceBoards is letting the average investor have as much power and simplicity as any institution.