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Speed Trader

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Category: Brokers
SpeedTrader.com, a website of Stock USA Investments, was founded in 1999. Stock USA Investments is a New York based broker/dealer and a member of FINRA and NFA. The firm specializes in the electronic trading field. Our goal is to provide the...
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Worst customer service in the world!
SpeedTrader and SureTrader are sister companies. Both are ran by same people. They are literally the WORST CUSTOMER SERVICE in the world. I lost over $400 due to their hidden charges and all other crooked tactics.

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Scammers
When I withdrew my money they kept 2 months of software fees totaling over $400. Very shady and there is nothing you can do to get your money back. Their borrows for shorting also stink. I have an Interactive Brokers account and they always have shorts available when speedtrader doesnt. Stay away from these guys!

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Markm Chicago, IL

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Avoid SpeedTrader
SpeedTrader doesn't have anything to offer. Their platform is the worst out of all trading companies, their customer service is bad and their fees aren't competitive (they use a horrible clearing firm, COR). Over all, they have the highest fees with the worst platform and service.

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one of the best trading companies
Good customer service, honest company, one of the better trading companies out there. I've been using them since 2003...

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Used to Great Until Pricing Increase for Das Trader
Speedtrader used to be my broker until they increased the pricing on Das Trader (level 1 and 2).

Before the price increase, you would only have to trade up to $299 in commission in order to have the fees (for level 2) waived. But now you have to generate at least $499.

When they didn't set a limit, I'd be able to generate $350-400 in commission (based on $2.50 commission per trade). It's just too much of a burden.

Other than that, there's nothing wrong with the platform itself and customer service.

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Sox1918 Boston

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Worst broker outthere. Stay away
I have been trading for the past 8 years, prior to opening an account with speedtrader in 2011 i was using optionsxpress which always provided me excellent executions, customer service and plateform. Nothing to complain about except for the comissions which i thought were a bit pricey but all in all optionsxpress' excellence provided me with the opportunity to make some consistent return year after year for 3 consecutive years. In 2011 i decided to take the leap of faith and change broker. Speedtrader's comission structure at that time was appealing and at first their custommer service sound ok. I transferred my whole account there eager to trade more profitably. Boy what a mistake! Their plateform turned out to be the shittiest thing you can ever come across, i cant believe they charge 60 bucks for that crap. Even their web based plateform is so buggy that it's just a shame that they're still in business as of this day. Executions isnt that great too contrary to what i've read here. All in all they were responsible for the complet destruction of my account. Sometimes i would be trapped in positions, enable to take profits or adhere to stop losses because the orders wouldnt go through or the plateform would just bug as hell, displaying wrong P/L or just enable to start. Also the amount of money on my account just didnt add up at times, they withdrawed $ here and there, ranging from 50-80 bucks for any reasons they found valid. They are very dishonest in their practices and ended costing me a lot of money. Please do yourself a favor, dont put your money there and if you still decide to do so, you can only blame yourself. Since the begining of the year I transferred some funds to MB trading and to this date they have been great, custommer service, execution, commissions, plateform, etc. Speedtrader was the worst decision i ever took in terms of changing brokers

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Stay away from them
I left a comment on on their facebook page a few weeks ago however, I can see that the administrator of this group deletes comments that dont portray Speedtrader in a positive light. So, I am reiterating my efforts elsewhere so that people can make informed decisions. Speedtrader is one of the worst brokers out there. They wont have your back, quite the contrary they will charge you for bits and grits for whatever reason they deem necessary. Their platform is very expensive yet, very buggy and unreliable. Just to tell you how bad it is, It displays improper quotes, P/L, etc. Connection is lost on the plateform every few minutes and sometimes it would just crash for no reasons. Dont be fooled by all the beautiful shiny colors on the above picture. It's a joke! Their customer service is bad and their fees aren't competitive at all regardless of what they claim. They use a horrible clearing firm, COR which charges incorrect commissions and add-on fees. I had a very bad experience with them and if after you saw this review you still decide to open an account with them regardless, you can only blame yourself. If you want a really good discount broker do your due diligence.. There are many good brokers out there who have the little guy's back but Speedtrader surely isnt one of them. They are losing the battle any ways and I see them out of business soon

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Yvan2505 nanaimo, bc

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like
A bit pricey and platform could be better. The good news is executions are great.

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Invest123 racine, wisconsin

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run forest run!!
I opened account with them in 2012 and it was a great broker then.

But as of jan 2014 things started to go down fast. When they changed the clearing firm to cor some trades did not even load to Cor and when you try to contact the customer service and ask them of that matter they don't even bother to reply back. + the commissions are to hihg it cost's you 6.95$ for trade + 3.5$ you give to Cor?? for handling lol + you pay 50/mo for their shitty platform.

IF YOU ARE SMART YOU'LL STAY FAR AWAY

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Nice platform, competitive prices
I've been using SpeedTrader for a week now and think I'll probably stay with them. They have a $4.49 per trade rate for accounts over 25,000 and their activeweb online platform is solid.

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Awesome Broker, Highly Recomend
If you are going to day trade then Speed Trader is the broker for you!

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JSVaughn21 Cedar Grove, WV

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