SURETRADER

About company:

SureTrader specializes in day trading where investors buy and sell securities on an intraday basis.

 

About company. Fund security

SureTrader is a division of Swiss America Securities, Ltd., founded in 2008. The broker is registered in the Bahamas and is regulated by the Bahamas Securities Commission.

 

Let's take a look at who falls into the “day trader” category and why SureTrader is unique. A system day trader, as noted by FINRA and NYSE, is any trader who makes four or more trades (this includes opening and closing a position in a security or stock option) within 5 business days. According to FINRA rules, clients who are considered "day traders" must have at least $ 25,000 in their account. But clients can trade with capital below the specified amount, since SureTrader is not a FINRA member and is registered in the United States, the broker is not required to comply with the established rules.

 

SureTrader is overseen by the Bahamas Securities Commission. The islands have an offshore jurisdiction for companies providing financial services. This is the downside to being able to trade intraday securities. We recommend that you think carefully before investing a large amount of money in offshore companies. Since when licensing a company, the presence of a minimum capital is not a mandatory requirement. Thus, if a broker becomes insolvent, the risk of losing investment becomes much higher than in licensed companies.

 

Overall, SureTrader is a great option for newbie traders.

 

Trading conditions

SureTrader offers stocks and options. An over-the-counter market is available. Unfortunately, the broker does not have any other securities available: mutual funds, bonds, futures.

 

Minimum deposit

It is $ 500. This is the most lucrative offer in the industry when it comes to trading securities. It is also a great trading opportunity for beginners who do not have $ 25,000.

 

Commission fees

The standard stock commission is $ 0.005 per share and $ 1.95 per trade. Provided that the trader trades less than 1,000 shares per month. For options trades - $ 0.50 per contract and $ 4.95 for each trade.

 

Holding positions on margin overnight are subject to an interest rate of 7.5% per annum.

 

In addition, there is a $ 50 fee if the trader makes less than 15 trades in a quarter.

 

Leverage

The client can use the leverage 1: 6. This is a very tempting proposition when it comes to trading securities.

 

Trading terminal

Clients have a choice between three different versions of the SureTrader trading platform: Active Web, Desktop / Pro and Mobile.

 

The first is provided for the use of the client absolutely free of charge, the work is carried out directly through the tab in the web browser. To trade, you only need to connect to the Internet. The terminal provides real-time quote data, charts, and Bloomberg streaming news.

 

Traders who want more customization options, charting capabilities can use SureTrader Desktop / SureTrader Pro. This version includes an advanced graphical interface, window snapping, real-time profit and loss information. The usage fee for this software is set at $ 49 per month.

 

In addition, you can place your orders using the mobile application. SureTrader Mobile is currently available for iOS through the AppStore / iTunes. The monthly fee is $ 35.

 

Support service

SureTrader support is available via Skype, online chat and email. The broker also has telephone numbers for US and Canadian clients, fax and voice messaging. VOIP Numbers of traders from America, England and Australia are available.

 

Ways of payment

The broker accepts credit and debit card deposits. With this method, withdrawing the deposited funds costs 3.5% of the withdrawal amount. For withdrawal of a deposit through ACH and electronic wallets (Skrill and Neteller), a fee of $ 40 is charged.

 

You can only withdraw profits via ACH or bank transfer. The minimum withdrawal amount is $ 100.

 

A withdrawal request is processed within 1-3 days. After that, within a week, the money should be credited to the client's account.

 

Pros:

 

free demo version available; low initial capital - $ 500; small commissions for trading stocks and options; fast order execution.

 

Minuses:

 

registered in an offshore zone; trade penalties (for an open position after 3:30 pm EST you will be penalized $ 55); additional costs for the trading terminal, for low trading activity, for withdrawing funds.