Where do we begin......
I've been with Suretrader for a month now. I have both bought and shorted stocks with them.
I love their free DAS platform. It is VERY nice in comparison to what a lot of brokers offer (especially big brokers.). It is so simple and free-flowing to use. Everything is just "there" and instant with one or two clicks.
I get even better fills with Suretrader than I do with Interactive Brokers. One thing I REALLY like, is you get the best price on your fills hands-down. Whatever the lowest or highest price per share offered is at the time you go to get filled, you get that price. You get executed down to the sub penny no matter if there's a cushion between your limit and the actual price offered. This is just awesome.
Customer service isn't all that bad. Though I haven't had any serious issues with them they have always answered my questions to my satisfaction.
No unconstitutional pattern day trader rules. No rules for shorting stocks under $2.50.
6X buying power. If you want 6X with say Interactive Brokers, you have to have a $100K+ portofolio margin account.
Commissions are STILL too high in my opinion. $4.95 IS 1/2 the price of TD Ameritrade but it still eats at your profits when you trade a lot. I guess in a way it could be a pro too.
No ACH. If you wire money in and out, you will be charged $100 for the withdrawal from your Suretrader account. You can deposit and withdraw via credit/debit card as well however they take 3.5% of the value you transfer each time. Although unrelated to Suretrader, BE AWARE that your bank may charge you for the outgoing transfers as well. Bank of America charges 3% of the amount you transfer out of the US. I got them to refund the amount I was charged though thankfully.
One thing I want to note about them is there is a trader I follow online that had a promo that I didn't catch until after I opened my account. The promo was for up to 10,000 shares for $4.95 and then $0.000495 per share after 10,000 IF you signed up under his link. Well I explained to Suretrader via live chat this promo and they applied it to my account although I didn't use the link. I don't know of any other brokers that would do that for you.
Suretrader has a very good thing going for them and I hope it only gets better from here. I would LOVE in the future to see free ACH deposit and withdrawals AND a commission structure similar to Interactive Brokers and Suretrader sister site Speedtrader.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Through with Suretrader...
I can say as I don't use this broker anymore I am giving them up and sticking with Interactive Brokers. Fee after fee after fee and every time I make a transaction with them my bank cancels my debit card due to fraud..
I ONLY recommend them if you are consistently profitable and want to get around PDT rule and/or you want to short sell stocks without having to deal with the under $2.50 rule.
If the PDT rule doesn't apply to you and if shorting a lot of shares of stocks that trade under $2.50 doesn't either then there is no reason to use this broker.
This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.