Tornado Review

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Contributor, Benzinga
May 31, 2022
Tornado
Best For
  • Investor-grade research
securely through Tornado's website
1 Minute Review

Aimed at new investors searching for a better way to save toward long-term goals, Tornado is a brokerage that combines high-level analysis tools with options to automate your investing. In particular, Tornado’s one-click portfolio optimization feature helps new investors instantly generate their ideal asset allocation. Tornado also offers access to Capital IQ investment information free of charge to all account holders, and accounts come with no minimum initial investment. 

Though Tornado might not be the best option for frequent investors and those who trade multiple times throughout the day, the brokerage’s unique range of tools can help make saving for retirement easier. At $7.99 per month with 40 commission-free trades, Learn & Earn, Community Thought Leaders and the Portfolio Optimizer, you can make the most of your investments.

Best For
  • Free access to investor-grade research
  • Stock pro and cons lists make investing easier
  • One-click portfolio optimization allows you to instantly choose the right portfolio allocation
  • Simulated trading helps you test out Nvstr without risking your own money
Pros
  • Free access to investor-grade research
  • Stock pro and cons lists make investing easier
  • One-click portfolio optimization allows you to instantly choose the right portfolio allocation
  • Simulated trading helps you test out Nvstr without risking your own money
Cons
  • Customer support currently limited to email only
  • No option for free investing

Tornado Ratings at a Glance

Pricing
Services
Customer Service
Mobile App
Overall Rating

Committed to helping users optimize their investing processes, Tornado makes it easier to save towards retirement and other long-term goals. Combining the strength of portfolio optimization with unique social trading features and affordable account options, Tornado appeals to both experienced traders and new investors alike. But is this the right brokerage for your retirement needs?

A robust Tornado review will help you learn a little more about the features this broker offers over competitors, some of the reasons why you may want to open an account and additional information on pricing and new user benefits.

Tornado Pricing

Tornado focuses on providing users with a straightforward, transparent pricing plan. The Tornado team just increased its membership to $7.99 per month and receive 40 commission-free trades per month. However, current subscribers will be grandfathered in at the $5.99 price. When you enroll in a new live trading account, you get $10 to $1,000 (randomly selected). You can keep getting rewards from this range every time you invite someone who joins and starts using Tornado, up to $1,000 max.

You can also receive a funding bonus starting at $5 for a deposit of just $50 and going up to $15 for $100, $75 for $1,000, $150 for $10,000, etc. Your $5.99 account fee will bill each month until you cancel your account. You won't pay fees to close your account or withdraw funds. Though most brokerages have transitioned to a $0 commission trading schedule, these brokers may charge additional account fees or sacrifice your personal data.

Tornado accounts come with $0 minimums, which means that you can open your first investing account with just a few dollars. Tornado also supports margin trading with interest rates of 6.50% APR. This interest rate applies no matter how much of your available margin balance you use, so it offers benefit to users who only need to use a small percentage of margin.

Tornado Services

Tornado users are typically interested in long-term stock and ETF investing. Tornado’s platform offers a number of benefits for long-term investors, including:

  • One-click portfolio allocation: If you’ve never saved for retirement before, the task of choosing stocks and ETFs to put your money into can seem monumental. Using independent, Nobel Prize-winning research, Tornado can allow you to instantly maximize your returns and view a complete breakdown of today’s best possible investments based on constantly changing market factors. If the thought of investing for the future seems intimidating and you want more guidance when selecting assets, Tornado might be the right platform for you.
  • Free access to Capital IQ independent data: Capital IQ is the gold standard of financial analysis tools, used by hedge funds and finance professionals around the globe. Capital IQ provides users with access to in-depth information on company structure and financial indicators with more than 5,000 streams of data. Unfortunately, at an annual cost of more than $10,000 per year, Capital IQ’s platform is simply out of reach for most everyday investors.

When you invest through Tornado, you’ll enjoy free access to Capital IQ data. Research companies and industry trends using the same information available to high-level Wall Street investors without paying thousands of dollars.

  • Free simulated trading accounts: Not sure if you’re ready to begin investing yet? Test out Tornado’s platform and explore currently available tools and research options without risking any of your own money with the broker’s free simulated trading platform. With $0 minimum investments, a simulated trading account allows you to fully explore whether or not Tornado is right for you.
  • Community Thought Leaders and viewpoint contributors: These seasoned professionals excel at bringing unique angles to the discussion and development of individuals' own styles. They get prominence on the platform due to their knowledge and history of insightful investing.
  • Portfolio Optimizer: A powerful suite of tools that was once reserved for Wall Street pros is now available to members.

Tornado offers a wide range of research and analysis tools alongside a streamlined platform and easy signup process, so we’ve awarded them top marks for available services and functions.

Tornado’s new Learn to Earn program enhances its offerings that much further. This financial wellness module is a good way for you to learn to invest, and Tornado incentivizes you by paying you for completing the course. When you’re done, you get $50 you can use to further your investments. This is just another way for Tornado to educate consumers and encourage informed decision-making as it relates to stocks, crypto, securities and other financial instruments.

Additionally, Tornado wishes to reach underrepresented groups—such as college students—who could easily be taken in by empty promises from other platforms. With the COVID-19 pandemic leaving people at home and forcing many to seek new income streams, investing wisely is more important than ever.

Tornado Customer Service

Tornado currently offers 1 route that you can use to contact their customer service team:

  • By email: To speak with a customer service representative by email, send a message to hello@tornado.com. If you already have an Tornado account and you’re troubleshooting an issue, send a message to support@tornado.com.

Tornado also offers a comprehensive FAQ section that you can use to troubleshoot some of the most common problems seen by users. In the future, it would be nice to see Tornado offer additional customer service options like phone support and live chat features.

Tornado Mobile App

The Tornado mobile app offers a full range of account functionality, mimicking the features of the desktop platform. Some of the benefits that you’ll enjoy when you invest through the Tornado mobile app include:

  • Simulated trading access: Whether your account fully opens or if you’re using a simulated account, you can still enjoy quick trading access on-the-go with Tornado.
  • Personalized news and discussion feed: Like on the desktop platform, your personalized news and discussion feed will transfer to your mobile app. No need to recalibrate your newsfeed. Simply log into your account and enjoy the same experience.
  • Streamlined interface and order placement process: Some brokerages simply transfer their existing desktop interface to their mobile platforms, which can result in a buggy, inefficient buying and selling process. Tornado’s mobile interface has been customized for its mobile platform, which means that you’ll have no trouble buying and selling assets.

The Tornado mobile app is currently available as a free download from both the Apple App Store and the Google Play Store.

Tornado Overall Rating

With a unique and comprehensive set of investing tools, Tornado offers a fantastic option for new investors looking for a bit more insight when it comes to their long-term investing. Though the broker doesn’t offer the most affordable trading experience on the market, its wealth of optimization tools and insightful features can help you get the most from your investment without overspending. In the future, hopefully Tornado will continue to expand its customer service and asset offerings to provide you with a one-stop shop for all of your investment needs.

Tornado
Best For
  • Investor-grade research
securely through Tornado's website

Benefits of Tornado

Tornado offers access to a large number of tools not found with competing brokerages, including:

  • Stock pro and cons lists: Have you ever wished that the benefits and drawbacks of owning a particular stock could be laid out in front of you before you invest? Tornado’s lists of stock pros and cons allow you to better compare investment opportunities before you risk any of your own money.
  • Single-click portfolio optimization: Tornado’s single-click portfolio optimization tool uses Nobel Prize-winning research to help you instantly identify the best investment opportunities for your needs without spending hours researching each individual offering.
  • Simulated trading accounts: Some brokerages require you to fully fund your account before you can test out trading tools and features. With Tornado, you can use simulated trading accounts to practice and get familiar with the platform before you risk any of your own funds.

Frequently Asked Questions

Q
Q. Are there any rewards for Tornado users?
A

You can enjoy a number of benefits when you sign up for your first account. Tornado offers up to $1,000 in cash rewards when you enroll in a new account, and you can earn additional cash when friends sign up for Tornado as well. When you enroll in a new live trading account, you get $10 to $1,000 (randomly selected) and you can keep getting rewards from this range every time you invite someone who joins and starts using Tornado, up to $1,000 max. You can also receive a funding bonus starting at $5 for a deposit of just $50, and going up to $15 for $100, $75 for $1,000, $150 for $10,000, etc.

Q
Does Tornado have a simulator for investment?
A

Yes, Tornado offers simulated trading accounts that come with $0 minimum balance requirements. This allows users to test out the platform’s tools and features without risking any of their own funds.

User Reviews

Melvin

How do you use this product to boost your finances?

Woke up to a margin call that took half my money and I didn’t borrow nor sign up for margin there’s no way to see if you did or talk to anyone I’m never using you guys ever agin

Tina reed

How do you use this product to boost your finances?

I opened my account and kept my rewards stocks over the amount of time to be able to cash out and and tornado conveniently had exactly enough "fees" so it actually profit me $0

David Thomson

How do you use this product to boost your finances?

So far so good

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