SureTrader

The Worst!!!!

I've been trading with suretrader for about 6 months. Decided that this brokerage firm was not for me due to terrible executions and constant buy ins. They used to have good borrows on hard to borrow stocks but have been getting worse and worse. Decided that I wanted to cancel my account and submitted a fund with drawl form. It has been 4 weeks and I still have not received my funds which is rightfully mine. I have called multiple times for them to submit my money back to me and they kept telling me that it's in the process and it should take approximately 24 hours. It's been 4 weeks and I have submitted that form 3 times, called multiple times and spoke with multiple people, and written emails in reference to my funds. Now it's to a point where I am in contact with my attorney and I plan on taking legal action in regards to my money. I have never had this issue with any other broker but this one and honestly I never had an issue with suretrader in this regard until I decided I wanted to cancel my account with them. We are talking about thousands of dollars of my own money that I want back so I can shop around for another broker. I would definitely stay away from this broker and place your money elsewhere.

Willf3084

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An Average Brokerage

SureTrader has both its perks and downfalls. I was recommended to it through Tim's Challenge. I was new to trading and brokers so decided to try it out.

Good things:

-Customer service isn't as bad as everyone says. They usually have someone online to talk to through chat during the average work day hours. They are typically helpful.

-Only 4.95 per trade, although I've noticed that many of my trades are 5.00 or 5.01. Not sure why.

-Since they are located in the Bahamas, there is no Day Trader Rule. This means that you can trade as many times as you want, without limit.

-You can sometimes negotiate with customer service about their commissions, which does help with the hidden fees at times.

Downfalls:

-Sometimes it does take some time for the customer service representative to respond, but they usually do a good job when they do respond.

-It's a basic broker. They don't provide tools for research or even that great of charts. Also, there is no educational tools. So, if you don't know much about trading, you probably need to start elsewhere.

-Sometimes the web platform locks up and you have to relogin.

-I haven't used the DAS platform, as you do have to pay monthly for it.

-If you make a trade that totals under 100 dollars, they charge you a fee, so be careful with that.

Overall it's a basic broker. It does get the job done, so I can't complain too much but I also can't rave about it.

Pvcfallout

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Suretrader is a good broker for storting.

If you can't afford a interactive brokers account ($10,000 to open) then suretrader would be the next step for a stock short broker. Now it's only $500 to open up an account as before it was $2,000. I never had a problem with customer service as the rest but i never really ran into a problem yet.. The 6-1 leverage is great and execution are fast! The ONLY thing i hate is when trying to get money OUT of my account they charge a $100 wiring fee but this is a caribbean base company. They are improving their service and you can't beat that suretrader doesn't have the PDT rule like the rest of the brokers in the USA. I'm happy with the service so far

Kev2128

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SureTrader - "My Last Resort"

I use Sure Trader and have had an account for about 12 months. I ONLY use them to get access to shares for shorting that are otherwise impossible to find. It is worth the hassle to deal with them because of the money I make shorting stocks, but I would love to find a better broker.

My Complaints:

1) I tried wiring in funds many times, the money always got sent back to me for various reasons

2) I tried wiring OUT money from my account and never once succeeded

3) The only way to fund the account is via credit card debts or credit card refunds. This is sketchy.

4) The Software fees exceed $150/month for SureTrader Pro, Level2, Options Level2, etc.

5) When you leave the routing on "Auto", you sometimes get your shares through a Market Maker that charges a fee. I've had fees as high as .005/share. On 10k shares that's an extra $50 in and out.

6) Customer Service is simply horrible

SureTrader, a broker I would recommend to somebody who has exhausted all other reasonable options. They are awful.

DaytradeWarrior

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A necessary upgrade to many traditional brokers

Sure Trader is the path to take no matter what your trade level and far and beyond superior than Scottrade and TOS.

Anole

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big potential but bigger disappointment

6 to 1 margin is great, especially with accounts under 25k. ability to short pinks and otcs for US traders is huge. This alone would want to make it give them 5 stars but they lack in other areas so much it hurts.

Most brokers will provide free software to active traders. Not these guys, can make 2,000 trades a month and they don't care. But can deal with that, no biggie. My big issue is them nickle and diming traders to death. On their site says rebates available for adding ECN liquidity to qualified traders but its bull. No matter how active they will not give rebates. In fact they started charging me for adding liquidity costing me 3-4k in couple months alone. If that wasn't bad enough they will charge you $50 commission a trade if you get a small partial. Since they lost many routes fills have gone downhill and getting terrible fills got more common place. Not being to able to get in/out is bad enough, these guys will punish you an extra $50 on top. Why? How? No clue, its how they do business. Taking 10x cost of commission when you get screwed on a small partial fill.

Want to like these guys but they are incompetent bunch. They are willing to lose traders that bring in 6 figures a year in fees over bs and not willing to work/fix problems in any way. Hope they get their act together but at this point I would suggest staying away. Find a broker that looks out for your interests as much as their own, these guys only care is bleeding your account dry.

Kali_Trader

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Hate it with apassion

Garbage, dont waste your time , interactive brokers is way more reliable. the last 4 times I tried shorting the web app hangs, lost opportunities to make real money, whats the use to have a broker with lots of shortable stocks when the app works when it wants too

I tweeted the ceo and his excuse is that their new ...

Ninabeba

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Dont Waste Your Time

Filled out an application 3 weeks ago and still nothing! Sent numerous emails and they always reply we will send you funding instructions this afternoon. I have chatted with them 5-6 times and each time they write "give me a moment to look up you info" then they never return to chat and the session times out. If it is this difficult getting through to someone who actually knows what is going on why bother. Would never trust sending them any money.

Phil62

Customer Service

Too many problems, not worth it

I have been with SureTrader for almost two years now; right around when they first opened. I joined because of the ability to short penny stocks and the no PDT rule. These features are nice, but it's really not worth it.

Their commissions are some of the highest I've dealt with. Their platform fee is $179 per month, which is waived if you generate that much in commission, so that's up to the individual if that's worth it to them; to me, it's too much. Their infrastructure is horrible. They have technical difficulties way too often. I have lost way too much money due to their poor infrastructure, mainly routes not working, so I can't close out trades. And finally, terrible customer service. If you bring up the chat, you can explain your problem, and then you just sit there with no response. You have no idea what's going on. I've waited for over 30 min before, asking if anyone was still there, and nothing. Also, they don't really seem to care whether or not your issue is fixed; it's like they just try to wait out your patience.

SureTrader is like those credit card companies that give cards to people with bad credit. People can't get a credit card anywhere else, so they have to deal with those high interest rates, high annual fees, and poor customer service. SureTrader is like that. You have to pay high commission fees, high platform fees, high fees for data, poor customer service, and poor infrastructure to support your trades.

If this is all you can get, then fine, you have to do what you have to. If you can afford anywhere, I mean ANYWHERE else, I would do so. Check out SpeedTrader instead. I'm closing out my account with SureTrader today. I just can't take it anymore.

By the way, about the PDT issue. I know it's different when you short penny stocks, but if you do other stuff, as long as you hold the trade overnight, and don't close it out the same day, it's not a day trade, so you can do that as much as you want.

MagnusKnight

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Fast execution, Low commission and great borrows !

SureTrader always has shares to short. Their execution is very fast and their comission is satisfying.

The only bad thing about them is that you can use their DAS trader platform on MAC. But you can still use the web platform.

Can only recommend this broker.

Abda

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