TradeUP Review

Active traders seeking zero commissions

SEC FINRA SIPC

Founded 2020 · United States · UP Fintech Holdings Limited

Why investors choose this broker

Zero commission on stocks and ETFs
No per-contract fee on equity and index options
Flat 5.99% margin rate - no tiered schedule
Fractional shares from $1

Review summary

TradeUP is a US-focused commission-free broker offering stocks, ETFs, equity and index options, fractional shares, and IPO access, operated by a subsidiary of UP Fintech Holdings.

Pros

Zero commission on stocks and ETFs
No per-contract fee on equity and index options
Flat 5.99% margin rate - no tiered schedule
Fractional shares from $1
IPO access available
24/5 overnight trading on selected US stocks
Advanced order types including TWAP, VWAP and algorithmic strategies
Demo account available for practice

Cons

No cryptocurrency trading
No mutual funds or futures
Wire withdrawal fee of $50
OTC stocks carry a per-share fee
FINRA fined the firm in 2025 for AML and record-keeping violations
No phone support - digital channels only

Company background

TradeUP is the US retail brokerage brand operated by TradeUP Securities, Inc., formerly known as Marsco Investment Corporation. Marsco was founded in 1986 and acquired in 2019 by UP Fintech Holdings Limited (NASDAQ: TIGR), the parent company also operating Tiger Brokers. The consumer-facing TradeUP brand and app launched in January 2020, targeting US retail and millennial investors with commission-free trading. The firm is headquartered in New York, NY, and holds CRD number 18483 with the SEC.

Fees and pricing

TradeUP charges zero commission on stocks and ETFs listed on major US exchanges. Equity options and index options carry no per-contract fee, which is a standout feature among US discount brokers. OTC-listed stocks are charged at $0.0049 per share with a minimum of $0.99 per order. US Treasury securities are charged at 0.12% of face value with a $5 minimum. Margin is available at a flat annual rate of 5.99% on long positions, with no tiered schedule. There is no inactivity fee and no annual account fee. Wire withdrawals cost $50 per transaction, and outgoing ACATS transfers also cost $50.

Regulation and safety

TradeUP Securities, Inc. is registered with the US Securities and Exchange Commission and is a member of FINRA and SIPC. SIPC protection covers client accounts up to $500,000, including $250,000 for cash, and the firm carries additional excess SIPC insurance extending coverage to $2.45 million for securities and $1.225 million for cash. In 2025, FINRA fined TradeUP Securities $700,000 (as part of a combined $950,000 penalty with affiliate US Tiger Securities) for violations related to anti-money laundering programme requirements and record-keeping.

Platform experience

TradeUP offers a mobile app available on iOS and Android with Lite and Pro modes, a web-based trading platform, and a desktop application. Key features include a demo trading account for practice, fractional share investing from $1, 24/5 overnight trading on selected US stocks, one-click IPO subscription with access to 80+ US stock IPOs, and a securities lending programme. The desktop platform supports professional-grade algorithmic order types including TWAP, VWAP, POV, Fan and Covert strategies. An OpenAPI is available for programmatic access, and the platform supports account access from 35+ countries.

Pros and cons

TradeUP's main advantages are zero-commission trading on stocks and ETFs, no per-contract options fees, a flat margin rate, fractional shares, IPO access, and a free demo account. The platform's advanced order types are unusual for a retail-focused broker. The main drawbacks are the absence of cryptocurrency trading, no mutual funds or futures, a $50 wire withdrawal fee, per-share charges on OTC stocks, and limited customer support via digital channels only. The 2025 FINRA enforcement action for AML and record-keeping failures is a noted compliance concern.

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Trading fees & commissions

Stock and ETF trades carry zero commission and options trades have no per-contract fee. OTC stocks cost $0.0049 per share (minimum $0.99 per order), wire withdrawals cost $50, and margin is charged at a flat 5.99% annual rate on long positions.

Fees

Item	Fee
Margin	5.99% annual rate on long margin positions
Account	No account opening fee; no annual fee; no inactivity fee
Deposit	ACH deposit: Free; Wire deposit: Free
Options	$0 commission; $0 per contract fee for equity and index options
Inactivity	Free - no inactivity fee
Otc Stocks	$0.0049 per share; minimum $0.99 per order; maximum 5% of trade value
Withdrawal	ACH withdrawal: Free; Wire withdrawal: $50 per transaction
Us Treasuries	0.12% of face value; minimum $5 per order
Acats Transfer	$50 outgoing ACATS transfer fee

Trading platform & features

Platforms

TradeUP Web
TradeUP Desktop
iOS app
Android app

Regulation and investor protection

TradeUP Securities, Inc. is registered with the SEC (CRD 18483; SEC 8-36754) and is a member of FINRA and SIPC. Client accounts are covered by SIPC protection up to $500,000, including $250,000 for cash, with additional excess SIPC coverage extending protection to $2.45 million for securities.

Broker FAQs

Is TradeUP safe?

TradeUP Securities, Inc. is registered with the SEC and is a member of FINRA and SIPC. SIPC covers client accounts up to $500,000, including $250,000 for cash, with additional excess SIPC insurance also in place.

Is TradeUP a scam?

No. TradeUP Securities, Inc. is an SEC-registered broker-dealer and FINRA/SIPC member operating in the US. The firm has been fined by FINRA for regulatory violations but remains an active and regulated brokerage.

Is TradeUP regulated and by whom?

Yes. TradeUP Securities, Inc. is registered with the US Securities and Exchange Commission (CRD 18483; SEC 8-36754) and is a member of FINRA and SIPC.

Does TradeUP keep client funds in segregated accounts?

As a FINRA member and SEC-registered broker-dealer, TradeUP is subject to customer protection rules that require client assets to be held separately from firm assets.

What happens to my money if TradeUP goes bankrupt?

As a SIPC member, TradeUP clients are covered up to $500,000 (including $250,000 for cash) in the event of broker insolvency. The firm also carries excess SIPC insurance extending protection to $2.45 million for securities.

What products does TradeUP offer?

TradeUP offers US-listed stocks, ETFs, equity options, index options, OTC stocks, US Treasuries, fractional shares, IPO subscriptions, and margin trading. The platform does not offer cryptocurrency, mutual funds, or futures.

Does TradeUP offer options?

Yes. TradeUP offers equity options and index options with zero commission and no per-contract fee. Multi-leg options strategies are also supported.

Does TradeUP offer fractional shares?

Yes. TradeUP supports fractional share investing in US-listed stocks with a minimum investment of $1.

Does TradeUP offer IPO access?

Yes. TradeUP offers one-click IPO subscription for retail investors with access to 80+ US stock IPOs.

What does TradeUP charge for stock trades?

TradeUP charges zero commission on stocks listed on major US exchanges. OTC-listed stocks cost $0.0049 per share with a minimum of $0.99 per order.

What does TradeUP charge for ETF trades?

TradeUP charges zero commission on ETF trades.

What does TradeUP charge for options?

TradeUP charges zero commission and zero per-contract fees on equity and index options trades.

Is there a withdrawal fee at TradeUP?

ACH withdrawals are free. Wire withdrawals cost $50 per transaction. Outgoing ACATS transfers also carry a $50 fee.

Does TradeUP charge an inactivity fee?

No. TradeUP does not charge an inactivity fee or an annual account maintenance fee.

Does TradeUP have a demo account?

Yes. TradeUP provides a demo trading account for users to practise trading without risking real funds.

Does TradeUP have a mobile app?

Yes. TradeUP provides iOS and Android apps. The mobile app offers two modes - Lite for casual investors and Pro for active traders.

Is TradeUP good for beginners?

TradeUP offers a demo account, fractional shares from $1, and a straightforward mobile app, which may suit newer investors. However, the lack of advisory services, educational resources, or guided portfolios limits its beginner-focused tools.

Is TradeUP good for long-term investing?

TradeUP offers commission-free stocks and ETFs, fractional shares, and IRA accounts (Traditional, Roth, and Rollover), which support long-term investing. It does not offer robo-advisory or ready-made portfolio services.

Bottom line

TradeUP suits users who want commission-free US stock, ETF, and options trading with no per-contract fees, fractional shares, and advanced order types in a single platform. It may not suit users who need cryptocurrency, mutual funds, futures, advisory services, or phone-based customer support.

TradeUP

Active traders seeking zero commissions

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Your capital is at risk. Other fees apply.