SpeedTrader Review: A Comprehensive Review Of The SpeedTrader Platform

SpeedTrader Review

While not as well known as some other online brokerages in the industry, SpeedTrader was founded in 1999 and has quietly gained momentum in retail trading circles over the past few years. SpeedTrader’s direct access trading platform was designed by traders exclusively for traders of equities, futures, forex, and options. With that being said the question remains, is SpeedTrader a solid platform for your trading needs? We explore this question in detail in our comprehensive “SpeedTrader Review”:

SpeedTrader Review: Pricing Comparison

SpeedTrader offers some of the most competitive pricing in the industry. For equities SpeedTrader charges $0.0039 per share with a $0.99 minimum per trade. Both options and futures cost $1.00 per contract and Forex trades are commission free. Traders need only to deposit $500 for cash accounts and $2,000 for a margin account. A comparison of SpeedTrader pricing versus comparable brokers is included in the chart below:

SpeedTrader Review – Broker Comparison

SpeedTrader Review

Keep in mind these are just the website advertised rates, SpeedTrader is bound and determined to be the lowest cost trading platform on the market and as such is willing to match anyone’s rates!

SpeedTrader Review: The Pros & Cons

The benefits of choosing to trade on the SpeedTrader platform are numerous and include amongst other thing: Extremely low commissions, free streaming Level I and II quotes, and virtual trading. On the other hand there are some drawbacks including: $30 quarterly inactivity fee, $35 annual IRA fee, and option exercise or assignment fees of $30 each.

The SpeedTrader platform has definitely beefed up its education department over the past few months, which now includes a library of seminars, webinars, and trading videos. The company intends to continue to add to its growing library of trading tools and resources with the ultimate goal of becoming a leader in the online trading education community. Traders can stay abreast of platform updates and market commentary by visiting the SpeedTrader blog though the company doesn’t seem to update it on a regular basis.

So if you are looking for a no hassle, low-cost, fast platform to trade equities, futures, options and forex, SpeedTrader could be a good call for you. Though if you don’t plan on trading consistently, the inactivity fees could be a reason to not sign up. You can check out the SpeedTrader Review platform for yourself by clicking on the link below:

SpeedTrader Review Trading Platform

SpeedTrader Review

One Response to SpeedTrader Review: A Comprehensive Review Of The SpeedTrader Platform

  1. PJ says:

    SpeedTrader is a terrible broker. I run a chat room. We’ve all had problems. Customer service sub-standard. Trader Beware!

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