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
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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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
This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.