SpeedTrader Commissions and Investment Products Offered
- Equity Trades - Plan A - Per Trade:
$295 per trade @ 1500+ trades per month
$595 per trade @ 1000-1499 trades per month
$795 per trade from 400-999 trades per month
$995 per trade from 1-399 trades per month
- Equity Trades - Plan B - Per Share:
$0003 per share 1,000,000+ shares per month
$0006 per share 500,000 - 999,999 shares per month
$0008 per share 0 - 499,999 shares per month
- Futures Trades (Electronic):
$1 per contract per side plus fees 2000+ contracts per month
$2 per contract per side plus fees @ 400-1999 contracts per month
$3 per contract per side plus fees @ 0-399 contracts per month
- Options Trades: $995 per ticket + $125 per contract
- Bonds Trades: $50 per ticket
- Mutual Funds: $50 per trade for no-load mutual funds
- Investment products: stocks, options, futures, futures symbols, no-load mutual funds, bonds, ETFs
- Minimum to open account: $10,000
Application forms look archaic. You have to print the forms then fax or mail them to SpeedTrader.
Account opening could be done faster.
SpeedTrader offers state of the art trading systems developed with lots of bells and whistles available only in
professional platforms. There are 3 trading platforms to choose from: 1. DAS Trader WEB (free) - browser-based
direct access trading, 2. DAS Trader LITE (with Level 1 Quotes) is free with $5,000 account equity or it's
$25 per month and DAS Trader PRO (with Level 2 Quotes) is free after 20 trades per month or it's $125 per month.
With DAS Trader PRO you get real-time news and option quotes at no extra cost.
Some of our favorite SpeedTrader trading tools features are:
- point and click trading;
- DAS Trader PRO provides you with visual alerts that can be set to automatically
alert you of possible trading opportunities;
- DAS Trader PRO software allows you to set up a pre-defined order that executes based on your alerts.
You can have the software automatically send a buy, sell or short order on any stock as soon as your alert is triggered;
- DAS Trader PRO allows you to place both a stop order and a target price order at the same time. This way you can cover
your downside with a stop order and protect your upside with a target order;
- Low commissions if you are a very active trader
- Free streaming real-time Level I or Level II quotes
- Professional trading platform
- Free intra-day charting
- Forex trading
- Training mode trading: test out trades and train without risking your capital
- Very demanding volume requirements to get lower commissions
- High mutual funds commission
- Annual IRA maintenance fee: $35; IRA set-up fee: $25
- Steep software fees
SpeedTrader brokerage targets mostly very active traders and the more you trade the lower commissions you
will get. Unfortunately to get $2.95 per trade rate you will need to make over 1,500 trades per month which is
beyond most investor's means. Optionshouse
offers the same $2.95 commission with no conditions attached.
SpeedTrader is definitely not the right choice for beginner investors.
Because of annual $35 IRA maintenance fee and $25 IRA set-up fee we can't recommend it for a retirement account.
There are much better
IRA brokers
that don't charge any fees.
We don't recommend using SpeedTrader brokerage. Day-traders are raving about LightSpeed Trading,
which is cheaper and higher rated by investor surveys. LightSpeed commissions are $.00395 per share and just
40 cents minimum per trade.
Options are $0.50 per contract, no minimum and no order charges. You could learn more at
LightSpeed Trading review.
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