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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.

 
 
 
75 Total Reviews
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5-Star       (15)
4-Star       (12)
3-Star       (19)
2-Star       (11)
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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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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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Don't give your hard earned $ to ST
Suretrader is an offshore company and has no offices in the US which means there is ZERO accountability out of their part. And here is the story to prove why.

First, I've been investing for many years and just recently started to actively trade. I wanted to do some daytrading and swing trading with Suretrader since they do have decent borrows for shorts. Their software, DAS can have fast executions but sometimes I would hit the bid on a limit order and have my limit sitting there without EVER filling even though the stock WASN'T under Short selling restriction OR was a very fast moving stock. It simply wouldn't fill. This happened three times on three different stocks and when I complained to their customer service every time I was given the customary "Limit orders do not guarantee fill" which can happen on a stock that is moving up or down very fast but not the ones I wanted to trade. I was told to use Market orders if I wanted a guaranteed fill which is true. Market Orders DO guarantee fill (But not with Suretrader - Continue reading)

A missed trade is a missed trade but what really irked me the most and the reason why I am even writing this review is because of ST's failure to trigger and protect my profits or limit my losses with Stop Orders. Stop Orders are orders that will trigger a buy or sell signal if your stop price has been reached. There are two types: Stop Limit Orders and Stop Orders (market) - Stop Limit means a stock turn into a limit order once the price you input has been reached. Again because it's a limit order there is NO guarantee of a fill. However, because of my prior experience with Suretrader I decided to just use Market stop orders which means if the price has been reached it will trigger the buy or sell regardless of the price. (It will take whatever is available since Market orders guarantee execution). EVEN THEN, Suretrader/DAS failed to trigger my market stop orders. I complained and again complained a second time when this same issue came up a second time. Both times, the two different Suretrader reps told me I should have used limit orders. (See the ridiculous pattern here??)

Speaking of customer service, their customer service chat is a joke. I can't count how many times my chat went over an hour simply because the reps take 5 minutes of longer to reply each time you type something. Many times I would get timed out after 10 minutes due inactivity and have to try again just to get timed out again simply because the reps wouldn't respond within 10 minutes since the last thing was typed.. Either they are too lazy or they want you to give up due to frustration.

And finally, I feel like Suretrader would charge me hidden fees from my P/L. I can't quite definitely prove this one but many times my P/L from the previous day wasn't appropriately reflected onto my available equity the next day even after all their exorbitant fees were taken out from the P/L. Always felt like overnight they would take out additional money from whatever you made.

Suretrader gives you this grand promise of 6:1 leverage (never use leverage!) and no PDT and they even give the impression of being a cheap broker with only $4.95/trade when you first visit them on their homepage. What they don't tell you is that they also charge per share fees on top of that (Most brokers charge either per share or per trade, but ST conveniently charges you for both, Nasdaq fees and other hidden fees which is not explained openly when you first create an account with them on top of the mysterious overnight fees which always seemed to sap into my profits

If you want to swing trade or day trade stick with Interactive Brokers or Centerpoint. Suretrader is just highway robbery.

And if you want to know how they flip the coin on you, listen to this conversation where they say that limit orders are not valid on IPO's. Anyone that has traded knows that is complete B.S. Limit orders are limit orders and do not become market orders just because it's an IPO on its first day.

https://www.dropbox.com/s/ibalbuwt5mx1ov0/talk%20with%20harewood.wav?dl=0

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Best option for any day trader with less than 25K
I opened an account with investimonials just to leave this review. I really feel like Suretrader has been getting a much worse wrap than they deserve. Let me start by saying they are not perfect! Hands down they have issues...but then again so does every broker.

Trading - As you all know if you have an account under 25K (more like 30K) you simply cannot day trade. If your under the minimum you have no other choice. If your looking to just go long and only make a trade or two a week then yes you can probably find a better broker. If you want to actively trade then you have no other choice IMO.

Borrows/Shorting - Over the last few weeks they have been adding quite a few more borrows. They now (according to the latest email) have all the borrows that are on IB's books. I've traded numerous stocks and it is very very rare that they don't have borrows. When everyone else is saying they don't have borrows Suretrader has always had them. Suretrader may have issues but I can tell you their borrow list is top notch!

Execution - Execution is crazy fast. On order entry and exit it closes in a split second. I don't know how the execution could be any better honestly. I've read a few reviews of people getting screwed around IPO's. The price is literally jumping dollars in seconds and your complaining about getting slipped? This is like forex traders complaining about getting slipped during Non Farm Payroll. You and you alone are to blame for trading during those times. I have never had a limit order slipped with them and some have been executed during active times.

Customer Service - I've dealt with their customer service quite a few times. More often than not I just use the chat but I have also called them. This was the area that I was most concerned with. All the reviews said their customer service sucked but in my experience that has simply NOT been the case. Their customer service has been not only good but GREAT the majority of the time. I did get one guy who was not very friendly. He kept trying to end the chat. Finally I just told him to quit rushing me and I'm not getting off until my question is answered. This was only ONCE. Literally every other time they were great.

Like anything....you need to try it for yourself. This is all just my opinion and my personal experience. If you have under 25K I would highly recommend giving them a try. If your an active day trader with under 25K there is no better broker IMO.

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Incredibly bad
this broker is a joke. my main broker is interactive brokers but i decided to give this company a try. boy was that a mistake.

customer service is rude and takes forever to answer a question. i was in live help chat for over a half hour just waiting for a simple answer.

the software is glitchy and hogs up a ton of memory and looks like it was made in 1995. i routinely get random errors when trying to place trades. customer service doesn't do anything about it, they say it's not their problem.

there also seems to be a lack of security or modern technology with this firm. to fund your account, you have to print out a form and fax it back to them. there is no way to fund your account online. it takes several days to actually begin trading. i have also heard horror stories about people trying to withdraw money and never getting it wired back. there is a $100 fee to have your money wired back to you. i've been waiting 8 days to get my wire but i'm told they are aware and it is going to go through any day. everything is ridiculously slow with this firm.

they say they have a large short list, but i've found ib's to be way better. as a day trader of 10+ years, after trying suretrader, I'm sticking with interactive brokers - they are better on all levels. this is the most unprofessional broker i've used.

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Can't compete with other online brokers
Suretrader simply can't compete with any of the other brokers. The trading system and online account system is so archaic. In order to fund your account with a credit card, you must print and fill out a form and hand-write your credit card number then fax or email it back. There is no way to fund your account online or check your balance or any of that. Good luck withdrawing your money. You will wait weeks, if you get it back at all. Behind all of the glitz and glamour of the suretrader name is a poorly run, shady company that nickel and dimes every customer. There's a reason they have a bad reputation. Go with interactive brokers or tdameritrade!

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A Must For Shorting Pennystocks
Overview: SureTrader offers the best leverage of any broker I know and they have great borrows for pennystocks.

Pros:

- Great borrows for pennystocks

- Great leverage

Cons:

- Not a U.S. broker (so do business with them at your own risk)

- $100 to transfer money out

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Suretrader is great for getting past PDT
I have been with Suretrader for almost 3 months now and having the ability to trade as I please and not be subjected to the PDT rule is great. Yes, their fees are a bit high, but I believe that is because they are situated in the Bahamas and have certain fees to cover.

As with anything else, everything is not perfect, but being able to trade without the PDT rule far outweighs the small issues for me.

I love the DAS pro platform and don't mind that it has a sort of MS-DOS feel. :)

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Wrong Limit Order out of Suretrader turns into Massive Loss!
I had the worst experience with Suretrader today. During $TKAI's IPO the stock was halted four - read carefully - FOUR times (Not Suretrader's fault) during a span of 20 minutes since the IPO debut. I tried to enter my trade at around $23.70 but had to cancel it due to stock moving up so fast. Cancelled the order and tried again one more time at a a limit order of $25.50.

That is where things get interesting

Suretrader's DAS system cancelled my order at $25.50 and instead executed it at exactly $30 right after the fourth halt. I got my limit order filled at $29.95 and the stock IMMEDIATELY plummeted to the $26 levels. I thought my order was executed at the $25 and here I was thinking pretty happy thinking I had made some good money on $TKAI. Lo and behold I see my execution at $29.95. I could not believe my eyes at that point and immediately contacted Suretrader. They were slow on their chat as usual and as I as explaining my situation the stock kept falling and I was forced to sell at a massive loss at around $23.70

When I contacted them they said the system showed 5 orders on my account. The orders were as follows: (and I paste directly from the chat)

$25.65 $25.50 $29.00 $23.70 and $30.00"

I couldn't believe what I was seeing. It took some time to recover from the bewilderment that followed but upon a closer inspection it came to mind that the $23.70 order was the cancelled one and the $25.50 was my second order.

DAS somehow cancelled my second $25.50 limit order and decided to fill it at $30, immediately dealing me a major loss.

The customer service rep and Philip who is the Chief Compliance Officer came to the chat and neither could explain the 5 different trades that they were mentioning. Philip said the transaction was showing in their system and there was nothing he could do about it, even if DAS had somehow mixed up orders since the record was the record shown.

Notwithstanding the profit I would have potentially gained had my order filled at the limit of $25 (for those of you who don't know what a limit order - look it up - It should be the only form on order one should place) worst of all failed to give back the equity from their accidental limit order placed by their system. Suretrader could at least have rectified the situation by returning my equity before their blunder but they refused to do so.

I wouldn't be so upset if this was something done by me but who places a buy limit order at a certain price and expects to get filled way higher than that?? Nobody. Since that is not the point of a buy limit order

Needless to say, Today's experience has made me completely lose my confidence in them. This sort of error on limit order should never happen but given that today's IPO was so crazy and halted multiple times, I would understand if it did. I only wish Suretrader would recognize the error and mitigate the situation which unfortunately they failed to do.

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Welcome to the stone age
-The invoice site is build for internet explorer

-The customer service hangs up your call before you are finished talking to them.

-it's not like other banks/brokers where your can transfer in and out money with just one button. Here your have to send in a document and photo id each time.

- if you have one error on the doc paper, they will call you after a some time. And tell you to send in a new document with the correct info.

- you have to print the document out and then put your signature on it. And then you have to take a photo of it, and send it to them with email.

So if you have some patience and are used to wasting time because of old technical solutions. This is the place for you.

Would you really trust that your money is safe. When the broker have a invoice page, that is build for internet explorer. This is 2014

It's really not very many brokers to choose from, especially for us that are not from the United States. You have Saxo bank, but they are a little bit more expensive. So I will probably come back and trade with them sometime =)

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terrible
what i can say about suretrader? wel, i made a mistake for choosing this broker first of all and also i am not happy with their hidden commission fees and the web platform is absolutely crap! how i wish i never an account with them at all! i would never ever recommend this broker or otherwise you'll end up losing all your money getting sucked up by a massive black hole.

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