AutoShares

AutoShares is an online brokerage based in the United States, founded on May 27, 2019. It operates as a subsidiary of ViewTrade Securities and is part of ViewTrade Holding, Inc., a firm established in 1989 that provides technology and brokerage solutions to financial institutions globally. The broker positions itself as a platform for self-directed investors, offering trading in US-listed stocks, ETFs, and options.

AutoShares is not directly regulated by any financial authority, but it functions as a division of TradePro Securities Inc., a registered broker-dealer with the Securities and Exchange Commission (SEC). According to known facts, AutoShares is a member of the Securities Investor Protection Corporation (SIPC), which provides limited protection (up to $500,000) for securities and cash in the event of broker failure.

The broker provides standard account types common to US brokerages: individual accounts, joint tenancy with rights of survivorship, and joint tenancy in common. It also likely supports LLCs, corporations, trusts, and retirement accounts (Traditional, Roth, SEP IRAs) based on website references. Accounts can be opened with margin trading if selected.

Account opening forms include an Account Application and, for joint accounts, the relevant joint agreement. The broker offers self-directed trading with no advisory services, emphasizing automated execution through its platform and APIs.

AutoShares employs a commission-free model for stock and ETF trades, with $0 base commissions online. Options trading costs $0 base commission plus $0.65 per contract. A flat monthly fee of $10 per account covers platform access and market data. Additional fees apply for various services, such as $20 for DK (don't know) items, $50 for domestic voluntary corporate actions, and $75 for DRS transactions.

Regulatory, clearing, and exchange fees are still passed on to clients. The broker's fee schedule took effect January 1, 2021, and is subject to change. Notably, there is no mention of inactivity fees or withdrawal fees for standard methods.

Clients can fund their accounts via ACH transfer (minimum $100, $50,000 daily limit), incoming wire, or account transfer from another brokerage. ACH transfers are free and typically clear within one business day. Withdrawals can be made via ACH or wire transfer, with no listed fees for standard transactions.

The broker does not prominently display support for credit/debit cards or e-wallets, focusing on bank-linked methods. The funding page instructs users to log in to complete ACH setup and submit questions to [email protected].

AutoShares is designed for self-directed investors in the United States who want to trade US equities, ETFs, and options. It particularly markets to those interested in automated trading strategies, offering API connectivity for algorithmic trading. The platform suits both casual investors and more active tactical traders who value low commissions and a simple fee structure.

Given its lack of direct regulation and reliance on TradePro Securities for execution, AutoShares is not a fit for traders seeking a heavily regulated brokerage or those needing forex/CFD access. Its SIPC membership provides a degree of security, but traders should verify coverage details independently.

AutoShares is part of ViewTrade Holding, Inc., a US-based financial technology firm founded in 1989. ViewTrade provides brokerage technology and solutions to banks and financial firms worldwide. AutoShares itself was launched in 2019 as a retail-facing arm, leveraging the infrastructure of ViewTrade Securities and TradePro Securities.

The broker’s parent company has over three decades of industry experience, which lends some credibility, but AutoShares as a standalone entity has a short track record and no direct regulatory oversight.