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

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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JSVaughn21 Cedar Grove, WV

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Up them commissions and data fees, each month new fees?
Don't trust the price printed our quoted schedule Speed-Trader advertises, one month after joining they jumped the data fees up to $500 or 500 trades per a month from the previous $199 or 199 min tickets.



Why would I join a Broker who claims to be a low price leader only to have them jump their prices up less than a month later?



Data is crap compared to Light-speed and Interactive Brokers, hell, even the quality and value of FMR Pro blow's past the every changing commission platform and data-fees structure of Speed-Commission-Raiser. It's better to pay a Broker $6.00 per trade and $5.00 per Option ticket and $.50 per than think you need to churn your account to make the monthly minimum of Speed-Commission-Changer.



Etrade Pro has not crashed on me over the last two months, count on Speed-Trader's program to implode if you are trading stocks with volume over 1 million shares.



Currently I am using Light-speed and Schwab with a discounted rate, platform is good and I don't' have to worry about my account getting a $300 charge for not over-trading my account.



When are Traders going to learn, with H.F.T.S., the new human trader is going to have to hold his position longer during the day instead of trying to scalp and generate lots of fees bringing your total bottom-line down. These Brokers look for the fools who will destroy their equity by over-trading, churning your own account, that's why we have lots of advertising from the pseudo-cheap Brokers, they are trying to fill the accounts with new money after helping the uneducated traders blow their accounts up by thinking they need to trade more to cover those nasty monthly commission fees!



Using LivePerson it can take up to 30 minutes to talk with a Broker and problems with accounts can take days to fix, buying power is not refreshed intraday, once a bug enter's your account I think you can plan on having it stick to your account until you sell all your positions and close your account out. Don't use a ACH to get out of Speed-Trader Hell, moving positions between accounts can take 10 to 20 days, imagine trying to move your account to another Broker if it takes ten to twenty days to move positions between accounts, how screwed up is that?





Don't believe everything you read, they can change their fees on a monthly basis, I found out they did and moved my account from them! Never in 30 years have I come across a Broker who keeps raising their fees and data-feed, usually it heads down but not with Speed-Trader.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Was great in the past but now HORRIBLE STAY AWAY ! ! !
Speedtrader was great in the past but I'd say over the past 6 months they have been getting worse and worse. I started using them in about 2009 or 2010 because they had great routes for OTCBB/PINK that no one else had. Then about a yr or so ago they started dropping off routes one by one. Now its just basically a managed route that either goes ETRF/NITE/CDEL/ATDF, now whats the point of having direct access if you don't know where your order is getting routed through for OTCBB stocks. That is a huge disadvantage coupled with the fact they will disable routes if you "abuse" them. This review is based on a rate of $3.95 and commissions of $15,926 for 2013.

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rates are high, customer service sucks but the platform good
the platform is great. aside from that, rates are high and the customer service is ok - nothing special. They will not mail you paper statements either. You need about 30k minimum in the account if you day trade to avoid getting flagged for PDT. if you do, you are out of the account for 90 days.

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Data Fees are $260 for Stock and Option Traders monthly.
Speed Trader provides a great product with excellent commissions for the hyper active trader. Their Margin structure is different from most firms who allow most stocks above $3 or $5 leverage of 2x. Intraday buying power is decent for accounts lower than Pattern Day Trading requirements of $25,000 or $50,000 some brokers require.



Traders who are not going to make $500 in commission each month are going to be bothered by the Speed-Trader Pro Monthly DAS data-fees of $208 for stocks and news and close to $300 for all their data services.



Speed-Trader is a great choice for heavy volume and size trader who can get enough rebates to create a negative commission, it's a good broker for very active traders who enjoy low commissions.



E trade's Stock and Option Platform will eat away your margins, try asking E trade for a lower rate and they are going to laugh. I made 20-30,000 trades with E trade until I figured it was a waste of money. My rate with Speed-Trader is $4.00 with ECN rebates, using my favorite ECN a trade of 3000 shares providing liquidity leaves me $4.00+(.0023*3000x-1) is -$2.9





After decades of trading why would anyone pay Etrade's massive commission structure when you can make trades that cost less than $1.00 or negative -$3.00 on average.

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Great for active Traders
Day traders, look no further. Platform is very easy to get in and out of trades FAST, hence the name.

Good commissions and executions, plus premarket OTC's from what I have heard but I never tried it.

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JonTrader NY, New York

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Broker
Pure junk, platform consantly loose connection, custumer service is OK if you can get them to answer the phone. Order routing haphazard at best. Stay away.

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fantatic
out of the retail brokers i love them.

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Tencea lumberton, tx

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Awesome Broker
I was skepitcal about speedtrader for a while as its not one of the BIG guy brokers out there like etrade, td, IB etc... but after been using them for several months the rates are very competitive. great customer service. and the das trader platform is pretty cool and has everything i need to execute some Speedy trades! i would recommend for the active trader

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Highly Recommmended&great service
I opened a/c 2 week back it took a week for paper work traded few options.

Let me say as the name suggest it executes orders with lightening speed so before hitting

buy/sell you must think what you are going to do, I mean there is no reviewing order once placed it'll be executed.I trade only options and rarely etf futures here not traded futures.

I don't use their software for charting purpose as some one wrote commissions are very competitive and you'll find their customer service excellent and particularly Anna,& Maria

whenever there is issue you'll get response mostly same day or at the most with in 24 hrs.

This is honest review and I highly recommend bcz.of their low commission.

Razia b. Quadir

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