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SureTrader

SureTrader is a leading international online stocks & options trading firm offering 6-1 leverage. Experience the difference with our high speed stock, options, direct access and day trading platform.

 
 
 
84 Total Reviews
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5-Star       (17)
4-Star       (12)
3-Star       (19)
2-Star       (13)
1-Star       (29)
   
Top Review
 
Best Broker For Shorting Penny Stocks
I am a trader with 8 years of experience in the equities, Suretrader's platform is the broker available in the market place today for...
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Way Better than their Reputation!
Easy to open an account (I funded with a credit card), little paperwork, little hassle. Customer service via chat-Excellent! A little slow via email. 6:1 margin and freedom from PDT! Repeat: this broker is free from PDT RULE. Also, I have had no problems with withdrawals (I am a US citizen). Easy as pie.

Now let me address some complaints: Hidden Fees-there are No hidden fees! ECN fees are not hidden fees! 4.95 a trade is not a hidden fee. Overnight/Swing traders need to pay attention to Suretrader policy. This broker is maybe not the best for scalpers ($10 roundtrip), but great for daytraders with less than 25k. If you are in-out all day, probably better off with a prop firm (CY Trade Group is a good one). The available shorts are good, but if you are trading penny stocks or in-out all day, you will rack up commisions/ECN fees (this should be obvious). The web platform is easy, but crashes occasionally (better have a stop). DAS is nothing special but its affordable with these guys.

Finally, I am completely satisfied! If you trade momentum stocks in the $20-100 range, share size 1k or less, don't want to trade prop, and want an easy broker to do business with(they pay!)-then Suretrader is for you.

Don't want any crap about how this is a plant. My opinion is just that. Open an account with just $500 and see how it goes for yourself.

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Broker has many advantages and disadvantages.
I have been with this broker since January 2015. The biggest advantage was their short availability. You can short almost any stock you can think of. The only time they don't allow shorting certain stocks is when the stock is extremely volatile. I never traded stocks under $2 but it is more expensive if you do. Another advantage is their 6:1 leverage. Be very careful though, only attempt if you are professional and know what you are doing. If you are losing in a position, you can lose more than what you entered with. So for example, if you have $1000, you can trade $6000. So you can lose more than $1000 meaning you will owe the broker more money. They can take you out of a losing position anytime if you are using their leverage and TRUST ME from experience, in a losing short position they will take you out at the very top of the run so then you don't get a chance to get out in the pullback. This can happen even if your balance is negative. I traded $6000, got wiped out and my balance went negative, but I was confident that the pullback would be my chance to at least lose everything and not go negative, but they took me out at the very top of the run and I had to pay $600 extra on top of losing it all. Also, they take might take you out in little by little so that you pay more commissions plus the fee for closing your position which is like $50.

ECN fees are ridiculous sometimes. I traded a stock twice in one day and paid $27 in ECN fees.

Overnight shorting isn't worth it. You pay 1% per night that you hold.

I hated the $49 software fee. They charge you every end of the month even if you get it one week before the end of the month. Oh and by the way, it is very simple to use, but very cheap looking.

Live chat is better than emails. They reply emails 3-7 days later.

Depositing money is expensive especially with credit card.

My advice to all the rookies out there: only risk your own capital, don't use their leverage. Overall if you are a bad trader like me, stay away from them or you lose will far more than you expected.

I am switching back to TDAmeritrade soon I like them so much better.

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Absolutely Terrible
Used Suretrade for a little over a year. Was decent at first (Good fills, commission wasn't bad, etc), but over time their hidden fees got ridiculous. I literally had trades where they charge me over $200 in "ECN" fees that they claim to have no control over, yet each time I mentioned it, the fees would go down for a few weeks. DO NOT USE THEM. It's not worth it.

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Hands Down The Worst Stocker Broker In The World!
Stay away from this broker! Professional scam artists at work here. They will sell you stock even if you are in the green with the only intention to charge commissions. I've been with them for only a week and am now in the process of closing my account with them. Don't let them fool you with their $4.95 fees or 6-1 leverage or that you can short penny stocks or no pattern day rules. They will charge you on every opportunity possible. Like I said before, they are only interested in selling your securities at any chance they get in order to secure more commissions. You get charged for monies coming in to their account, charged while you're in with them and on your way out you get shafted with more fees. These Bahamas Monkeys will eventually go belly up and start over again under another name. My advice, stay in the US with the reputable brokers.

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Good in theory, horrible company practices
Like other complaints, they're horrible at virtually everything. The idea is good in theory, having no pattern day trading rules (although if you live in the US you still have to fill out a fatca sheet and submit taxes and information to suretrader) but the company is just not a good one. They've always been shady from when they were just speedtrader. Pricing isn't competitive at all. There's always tons of hidden fees which makes it near impossible to make it worth using their company. I would rather pay $1 more to have a decent broker that will actually pick up the phone and know what they are talking about. SureTrader's customer service is abysmal. The people are just call reps who have no experience in trading. They're just cheap hired help. Other than that, they don't have much of a real company. There doesn't seem to be any manager or anyone in charge. I have been burned twice where my account just got wiped out for no reason (not making any trades) and SureTrader has no idea how it happened but they can't help me. Definitely some shady things going on with this company. I don't trust them

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Great platform for sub-25K accounts.
Fantastic customer service...reasonable trade executions...competitive trade leverage...the perfect day trader's platform.

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They are terrible! STAY AWAY!
Terrible place to trade! Platform has so many glitches, you place a limit order, it executes at market. If you call customer support, they tell you its your problem and you take the risk to make these trades, so you are responsible for any loss you incur. How they keep customers, i am shocked. To get a response takes forever and they are very rude. Fees are through the roof and they will add on hidden charges and say oh that was included in the price and you wont be able to do anything to get those fees back. STAY AWAY!

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Legal Rape
To escape the PDT rule i put my faith and money into Suretrader. I studied extensively for a year and i am a member of IU chat.

Pros: good borrows, das pro platform, no PDT, 6:1 margin (sometimes).

Cons: they liquidate your position without telling if you exceed their margin call and they charge you for this. Fees are ridiculous and not explained to you when you sign up. Don't use margin overnight etc.

Platform fees are pretty high, especially if you have a small account. If you want to add to a position its 5 bucks a trade regardless if you already own the stock. Other brokers dont charge everytime its a flat round trip fee etc. Customer service is pretty good, but if you want to cancel the level 2, otc, das pro platform etc they will charge you the full month even if you used it for a day. No proration, so a word of advice cancel at the very end of the month to avoid paying a month for nothing!

Suffice it to say, go small and build or go with a broker that requires a bigger min like CP.

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3 Weeks: $700 Account - $500 in Commissions??
First, let me start off by saying that I have an Interactive Brokers and TD Ameritrade Account. I got ST because it was my only option around the PDT rule. I use Think or Swim for charts, so i only used the web trading platform for ST.

Pros:

- ST had shares to short more often than IB

- I didn't have any issues depositing my money or withdrawing my money from ST (i used the ACH option)

- Never had any issues filling or getting out of a positions

- 6 to 1 leverage is nice. JUST WATCH THE FEES OR IT WILL DESTROY YOUR ACCOUNT

Cons

- I have no idea how in 3 weeks I had $489 in commissions. I took two overnight positions. I did trade a lot, but the ECN fees were ridiculous. I didn't know I was down that much until I couldn't log into my account because it had dropped below $100. In short, I had a P/L of -$130ish, and had $489 in commissions and ECN fees. I didn't have any issues contacting customer service, but no one wanted to help me out. They said if i didn't deposit more money, they would close my account.

- I am an Investors Underground member and TIm Sykes subscriber. I was told that I would get 20 free trades even with a small $500 account. However, the New York Office told me after my account was below $100 that they only give 20 free trades to accounts over $2,000.

In short, I cannot recommend sure trader. Yes they are a way around the PDT rule and have shares to short very often, I basically just threw away $700.

Suretrader Staff

I'm happy to revise this review if someone will contact me to work out this issue.

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Reliable, Great customer service, Fast executions
I've been with SureTrader for over 1 1/2 years. I first opened my account and traded for about 2 months, but then had to stop trading because of how busy i got with school. When i went to re-fund the account, my account was -$800 or so. I had no clue why, so I went online and live chatted with a customer service rep. I guess I had forgotten to cancel my Das Pro and L2, etc, and this whole time I wasn't trading, but was being charged for the platform. They happily re-set the account back to $0, without me even asking. +1

The past few months have been even better than the ones I remembered when I first open the account.

Funding the account : Very fast and easy, I have always funded with the credit card options, and now it's available online, instead of having to email the form. My funds go in within 24 hours, but most commonly in less than 12 hours, ready to trade with. No waiting.

Trading Platforms : Das Pro is incredible. It's simple, fast, easy to use, and very powerful. It's $49 per month, and with all data, etc, it comes to about $129/month. This is common for the Das Platform, and actually I've found it cheaper than other brokers and prop firms. If you have a small account, like me, I recommend the Das ActiveWeb Platform. I've been using this for the past few months, and it has been flawless. The executions are fast, the platform is fast and reliable, but it'd definitely not for charting. But then again, it's FREE, so what do you expect. I use other platforms for charting, for now, when I become a bit more consistent, I will upgrade back to Das Pro.

Commissions, Fee's, "Hidden Fee's" : First of all, let me start by saying, THERE ARE NO HIDDEN FEE's with SureTrader, it is absolutely absurd some of these reviews I have read. Now I cannot attest for someone else's experience, but I know for a fact a few of the reviews were from people that called ECN Fee's "hidden fee's" and one even called the $55 liquidation Fee for not reducing down to 2:1 by 30 minutes before market close, a "hidden fee". Ummmm... THEY EVEN SEND A MESSAGE ABOUT 1 HOUR BEFORE CLOSE TO BE SURE YOU'RE DOWN TO 2:1 or YOU WILL BE CHARGED LIQUIDATION FEE. lol. The ECN fee's are normal, and are posted on the website.

I find the commission structure to be great, it's way cheaper than Ameritrades, Etrades, etc.

Customer Service : The customer service has been nothing short of excellent. They are always there to help, and are quick to respond. They seem happy to be eager and happy to help. The Live Chat is awesome, and super convenient.

The BENEFITS : Okay, now lets get to the good stuff. Now, you can fund with $500 and get 6:1 intraday margin and no PDT. It's amazing that you can risk such little capital, and trade as much as you want. Now, I will say, I do recommend funding with more than $500, and pay attention to how much you're trading, don't overtrade on a small account. It's so liberating to not be held back by not having $25,000. The barrows are amazing. I've been able to short pretty much everything I've wanted to. The barrow list is huge, even OTC Stocks! Since most my focus is on shorting, this was crucial for me.

I recommended to my brother 2 weeks ago, and he got up and running and feels the exact same way. He's also using the free web platform currently, and has had no issues.

Oh, and for those that are worried about getting your money out, I've had no issues, and the 10 or so people that I know who also are with SureTrader, had an easy time getting money out, and 1 person was not a small withdrawal.

All in all, I love SureTrader, and will be a lifetime client. My experience with them has been nothing short of amazing. I highly recommend them. Great short list, cheap commissions, excellent customer service, top of the line platform (free version for those that don't want to pay), fast executions, no PDT, 6:1 margin, and my money is secure... I can't ask for anything else in a broker.

Brandon

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