Speedtrader

Speedtrader

Speed Trader

Rating:

Commissions:

$4.95 per trade, if your account is below $25,000 it’s $6.95 per trade.

Required Initial Deposit:

$15,000

Trade Execution:

SpeedTrader is a direct access broker, traders can route their orders directly to market makers. This increases execution speeds, you can expect to be filled the moment you send the order.

Speedtrader Web

SpeedTrader Is best for:

-Short selling, first come first served

-Trade executions

SpeedTrader Pro platform

My Experience: 

I use Speedtrader as a short selling broker, they’re a first come first served broker when it comes to finding shares to borrow. I recommend this broker to active traders who want a good platform and fast trade executions, the biggest cons to using them are maintaining a balance of $15,000. If you’re a short seller and have $12,000 – $30,000 to trade with use this combo, Interactive Brokers and Etrade, It’s better to have multiple brokers when finding shares to borrow.

Platform: SpeedTrader has a great platform, I highly recommend it. If you want to read more on their platforms click here.

Customer Service: Live help, email, and phone number. They’re very helpful, and fast response, highly recommended.

On the negative side I have heard a few inexperienced traders say they got a hint of “your ignorance isn’t our problem” attitude from Speedtrader. I don’t know the details of any of those incidents or who was in the right.

Rating 4 / 5

 

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