Cobra Trading Review: Commissions, Fees and Investment Products
- Stocks and ETFs: $6.99 with CobraOnline platform
- CobraIQ (InstaQuote) Trading Platform - $125 per month fee:
- .006/share when you trade 0-250,000 shares per month
- .005/share when you trade 250,000+ shares per month
- OmniPro ($100/month fee), RealTick($250/month fee) and Sterling($250/month fee) Trading Platforms:
- .005/share when you trade 0-250,000 shares per month
- .004/share when you trade 250,000+ shares per month
- All trades have a $1 minimum commission
- Options: $5 plus $1 per contract
- Futures: $1/contract per side for 30 days and only $2.50/contract per side after that
- Investment products: stocks, options, forex, futures, ETFs
- Minimum to open Cobra Trading account: $2,500. Daytrading accounts require $30,000 to open and $25,000 minimum.
- All Cobra Trading fees
CobraTrading Website (CobraTrading.com)/Trading Tools Review
Cobra Trading developed some of the best professional trading platforms in the industry. This is where the company shines. Their executions are
outstanding. Unlike some of the 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. Customers could get rebates on their steep software
fees ranging from $100 to $250 per month if adding enough liquidity to the market (CobraIQ - 75,000 shares in a month, OmniPro -
50,000 shares in a month, RealTick and Sterling - 200,000 shares in a month).
Cobra Trading Pros
- Flat rate commissions have no surcharges and no hidden fees
- Very good customer service
- Fast executions
- Free check requests
- Free broker assisted trading
Cobra Trading Cons
- Very limited free web trading platform
- Few educational resources
- Mutual funds and bonds are not offered
- Few research services
- Annual IRA Fee: $30
- Annual Outside Investment IRA Fee: $200
- High monthly direct access trading platform fees (CobraIQ $125, OmniPro $100, Sterling and RealTick $250)
- Direct access platforms have high ECN fees
Cobra Trading Review 2012 Summary
Cobra Trading is offering two commission structures on stocks and ETFs: $6.99 flat-rate which is just about
average in the industry and complicated but pretty good, on the first glance, per-share commissions. Unfortunately, clients will have
to trade a lot to get the rebates on fees ranging $100-$250 per month to use one of the Cobra Trading's professional trading platforms.
There are also high ECN fees to keep in mind.
Cobra Trading is targeting mostly very active traders, 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 investors.
The company also does not offer an online trader community at this time.
Cobra Trading has no surcharges on large orders, after-hours trading and penny stocks. With a flat-rate commission plan
there are no hidden fees. Cobra Trading does have an annual IRA fee, which does not make it a good choice for a
Retirement Account.
Cobra Trading offers four powerful third-party analysis and trading platforms – Sterling Trader Pro, InstaQuote, RealTick and OmniPro - all
for a monthly fee. Company's web-based platform is very basic and badly designed.
Cobra Trading works out great only for small number of very active traders and daytraders. The firm is not well-suited for majority
of regular investors.
Cobra Trading
Reviewed by Brokerage Review on
.
Rating: 3
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