December 2013: Transaction History

In this e-Monitor Report, we review the online transaction histories provided by the firms within the e-Monitor coverage group. For the purpose of this report, we only reviewed the transaction histories provided directly on e-Monitor private websites, excluding those provided on account statements. Specifically, this report focuses on the following three key criteria:

  • Design and usability of the transaction history pages.
  • Level of transaction details provided and the length of the transaction archive.
  • Filter and search options provided on the transaction history pages.

Overall,
e-Monitor firms do a good job of providing transaction details to their clients, as 11 firms ranked in the B-range or higher. Every
e-Monitor firm except one provides a single, centralized transaction history section that houses all account activity information. The one firm that doesn’t offer a centralized transaction history segments content across two separate pages. Accessibility to past transaction information is relatively easy on most firms’ websites, as 12 firms provide a main menu sub-tab dedicated to the transaction history.

 

All firms in this report provide some type of filter or search option for browsing through the provided transaction history. All firms except two offer the option to filter by transaction type. A common browsing feature offered by all firms are time period filters. Every firm in this report provides clients with the ability to filter transactions by a custom date range. Most firms also offer pre-defined time filters, with the most popular – Last 30 days/current month – offered by 78% of all firms.

 

Transaction details vary based on the types of activity customers engage in, though six data points – Activity/Transaction Type, Amount, Date, Price, Quantity and Description – are displayed by all firms and serve as the basis for transaction history. With regards to trade-related history, the security symbol/CUSIP is provided by 17 firms, while fees and commissions information is offered by 67% and 50%, respectively. Beyond the basic assortment of transaction details provided within the history summary tables, four firms provide individual detailed pages for transactions.

 

Additional key findings include:

  • Half of e-Monitor firms feature a transaction history that archives account activity for two years.
  • Two firms provide an online transaction history for the entire life of the account.
  • Six firms offer access to the transaction history page through a third navigation level sub-tab.
  • Trade dates are ubiquitous throughout the coverage group, settlement dates are provided by only 11 firms.