Cobra Trading Commissions, Fees, and Minimum Deposit
|Stocks and ETFs||$0.004 per share + routing and regulatory fees when you trade 0-250,000 shares per month, $1 minimum commission|
|Stocks and ETFs||$0.0035 per share + routing and regulatory fees when you trade 250,000-1,000,000 shares per month, $1 minimum commission|
|Stocks and ETFs||$0.003 per share + routing and regulatory fees when you trade 1,000,000-2,000,000 shares per month, $1 minimum commission|
|Stocks and ETFs||$0.002 per share + routing and regulatory fees when you trade 2,000,000+ shares per month, $1 minimum commission|
RealTick and RediPlus - $250 per month (full rebate if trade 250,000 shares in a month);
RealTick Express - $150 per month (full rebate if trade 150,000 shares in a month);
Sterling Trader Pro - $200 per month (full rebate if trade 200,000 shares in a month)
|Options|| $0.50 per contract + options exchange fee when you trade 0 to 2,000 contracts per month|
|Options|| $0.40 per contract + options exchange fee when you trade 2,001 to 10,000 contracts per month|
|Options|| $0.30 per contract + options exchange fee when you trade 10,000+ contracts per month|
|Investments||stocks, options, ETFs|
|Cobra Trading minimum deposit to open account|| $2,500. Daytrading accounts require $30,000 to open and $25,000 minimum to maintain.|
|Fees||All Cobra Trading fees|
CobraTrading.com Website/Trading Platform/Tools
Cobra Trading offers some of the best professional trading platforms in the industry. This is where the company shines. Trade executions are
outstanding. Unlike some of its competitors, the trading platforms handle high volume days well with no crushes or lagging. Cobra Trading does
a great a job in finding the stocks that are hard to borrow.
There are four software-based trading platforms to choose from – RealTick, RealTick Express, Sterling Trader Pro, and RediPlus. Customers can get rebates on steep software
fees ranging from $150 to $250 per month if they add enough liquidity to the market: for RealTick Express it's 250,000 shares in a month, for RealTick
and RediPlus it's 300,000 shares in a month, and for Sterling Trader Pro it's 250,000 shares in a month. All these platforms are leased from third parties.
Cobra Trading Pros
- Very low per-share commissions
- Fast executions
- No additional fee on broker-assisted trading
- Simulated trading
- Can write checks on all accounts except IRA's, UGMA's and trust accounts
Cobra Trading Cons
- High monthly direct access trading platform fees
- Quarterly inactivity fee of $15
- ECN fees
- Few educational resources
- Few research services
- Mutual funds are offered only by phone
- Annual IRA fee of $35
- Limited investing choices
Cobra Trading is a tiny company that offers very good per-share commission plan for all their platforms. Unfortunately, clients will have to trade a lot to get full rebates on
platform fees ($150 or $250 per month) to use one of the Cobra Trading's professional trading platforms.
There are also high ECN fees to keep in mind.
The firm is targeting as customers mostly very active investors, who trade huge amounts of shares and know what they are doing.
Unlike most other discount online brokers, there are no educational materials for beginner and intermediate level investors.
The company also does not offer access to an online trader community at this time.
Clients' buying power is determined by the type of account they are trading in. If they are trading in an IRA or cash account their buying power will
be limited to the cash available. In a retail margin account the buying power for intraday (limit of 3 intraday trades in a rolling 5 day period)
will be 4 times of available cash and overnight trades will be 2 times of available cash. For daytrading accounts clients will have a 4-to-1
intraday buying power and 2-to-1 overnight buying power.
The company offers some of the best margin rates on the market: currently it is 4.00% on margin balances of $1.00 to $1,000,000.
Cobra Trading doesn't have surcharges on large orders, after-hours trading, or penny stocks. It does charge a $15 quarterly inactivity fee.
The firm also has a $35 annual IRA fee, which makes it a poor choice for a brokerage retirement account.
Cobra Trading has been given the second lowest ranking in Barron's magazine annual broker survey in 2013 (it did not get rated in 2014-2017).
In Barron's survey it got horrible results in all categories except Costs.
Cobra Trading may work out well for a small number of very active traders (daytraders). The firm is
not well-suited for a majority of investors who are not in that category.
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