Too many problems, not worth it
I have been with SureTrader for almost two years now; right around when they first opened. I joined because of the ability to short penny stocks and the no PDT rule. These features are nice, but it's really not worth it.
Their commissions are some of the highest I've dealt with. Their platform fee is $179 per month, which is waived if you generate that much in commission, so that's up to the individual if that's worth it to them; to me, it's too much. Their infrastructure is horrible. They have technical difficulties way too often. I have lost way too much money due to their poor infrastructure, mainly routes not working, so I can't close out trades. And finally, terrible customer service. If you bring up the chat, you can explain your problem, and then you just sit there with no response. You have no idea what's going on. I've waited for over 30 min before, asking if anyone was still there, and nothing. Also, they don't really seem to care whether or not your issue is fixed; it's like they just try to wait out your patience.
SureTrader is like those credit card companies that give cards to people with bad credit. People can't get a credit card anywhere else, so they have to deal with those high interest rates, high annual fees, and poor customer service. SureTrader is like that. You have to pay high commission fees, high platform fees, high fees for data, poor customer service, and poor infrastructure to support your trades.
If this is all you can get, then fine, you have to do what you have to. If you can afford anywhere, I mean ANYWHERE else, I would do so. Check out SpeedTrader instead. I'm closing out my account with SureTrader today. I just can't take it anymore.
By the way, about the PDT issue. I know it's different when you short penny stocks, but if you do other stuff, as long as you hold the trade overnight, and don't close it out the same day, it's not a day trade, so you can do that as much as you want.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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