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SureTrader

SureTrader is a leading international online stocks & options trading firm offering 6-1 leverage. Experience the difference with our high speed stock, options, direct access and day trading platform.

 
 
 
72 Total Reviews
Overall:
 
5-Star       (14)
4-Star       (11)
3-Star       (19)
2-Star       (11)
1-Star       (22)
   
Top Review
 
Best Broker For Shorting Penny Stocks
I am a trader with 8 years of experience in the equities, Suretrader's platform is the broker available in the market place today for...
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Displaying 1-10 of 72 Total Reviews
Incredibly bad
this broker is a joke. my main broker is interactive brokers but i decided to give this company a try. boy was that a mistake.

customer service is rude and takes forever to answer a question. i was in live help chat for over a half hour just waiting for a simple answer.

the software is glitchy and hogs up a ton of memory and looks like it was made in 1995. i routinely get random errors when trying to place trades. customer service doesn't do anything about it, they say it's not their problem.

there also seems to be a lack of security or modern technology with this firm. to fund your account, you have to print out a form and fax it back to them. there is no way to fund your account online. it takes several days to actually begin trading. i have also heard horror stories about people trying to withdraw money and never getting it wired back. there is a $100 fee to have your money wired back to you. i've been waiting 8 days to get my wire but i'm told they are aware and it is going to go through any day. everything is ridiculously slow with this firm.

they say they have a large short list, but i've found ib's to be way better. as a day trader of 10+ years, after trying suretrader, I'm sticking with interactive brokers - they are better on all levels. this is the most unprofessional broker i've used.

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Can't compete with other online brokers
Suretrader simply can't compete with any of the other brokers. The trading system and online account system is so archaic. In order to fund your account with a credit card, you must print and fill out a form and hand-write your credit card number then fax or email it back. There is no way to fund your account online or check your balance or any of that. Good luck withdrawing your money. You will wait weeks, if you get it back at all. Behind all of the glitz and glamour of the suretrader name is a poorly run, shady company that nickel and dimes every customer. There's a reason they have a bad reputation. Go with interactive brokers or tdameritrade!

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A Must For Shorting Pennystocks
Overview: SureTrader offers the best leverage of any broker I know and they have great borrows for pennystocks.

Pros:

- Great borrows for pennystocks

- Great leverage

Cons:

- Not a U.S. broker (so do business with them at your own risk)

- $100 to transfer money out

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Suretrader is great for getting past PDT
I have been with Suretrader for almost 3 months now and having the ability to trade as I please and not be subjected to the PDT rule is great. Yes, their fees are a bit high, but I believe that is because they are situated in the Bahamas and have certain fees to cover.

As with anything else, everything is not perfect, but being able to trade without the PDT rule far outweighs the small issues for me.

I love the DAS pro platform and don't mind that it has a sort of MS-DOS feel. :)

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Wrong Limit Order out of Suretrader turns into Massive Loss!
I had the worst experience with Suretrader today. During $TKAI's IPO the stock was halted four - read carefully - FOUR times (Not Suretrader's fault) during a span of 20 minutes since the IPO debut. I tried to enter my trade at around $23.70 but had to cancel it due to stock moving up so fast. Cancelled the order and tried again one more time at a a limit order of $25.50.

That is where things get interesting

Suretrader's DAS system cancelled my order at $25.50 and instead executed it at exactly $30 right after the fourth halt. I got my limit order filled at $29.95 and the stock IMMEDIATELY plummeted to the $26 levels. I thought my order was executed at the $25 and here I was thinking pretty happy thinking I had made some good money on $TKAI. Lo and behold I see my execution at $29.95. I could not believe my eyes at that point and immediately contacted Suretrader. They were slow on their chat as usual and as I as explaining my situation the stock kept falling and I was forced to sell at a massive loss at around $23.70

When I contacted them they said the system showed 5 orders on my account. The orders were as follows: (and I paste directly from the chat)

$25.65 $25.50 $29.00 $23.70 and $30.00"

I couldn't believe what I was seeing. It took some time to recover from the bewilderment that followed but upon a closer inspection it came to mind that the $23.70 order was the cancelled one and the $25.50 was my second order.

DAS somehow cancelled my second $25.50 limit order and decided to fill it at $30, immediately dealing me a major loss.

The customer service rep and Philip who is the Chief Compliance Officer came to the chat and neither could explain the 5 different trades that they were mentioning. Philip said the transaction was showing in their system and there was nothing he could do about it, even if DAS had somehow mixed up orders since the record was the record shown.

Notwithstanding the profit I would have potentially gained had my order filled at the limit of $25 (for those of you who don't know what a limit order - look it up - It should be the only form on order one should place) worst of all failed to give back the equity from their accidental limit order placed by their system. Suretrader could at least have rectified the situation by returning my equity before their blunder but they refused to do so.

I wouldn't be so upset if this was something done by me but who places a buy limit order at a certain price and expects to get filled way higher than that?? Nobody. Since that is not the point of a buy limit order

Needless to say, Today's experience has made me completely lose my confidence in them. This sort of error on limit order should never happen but given that today's IPO was so crazy and halted multiple times, I would understand if it did. I only wish Suretrader would recognize the error and mitigate the situation which unfortunately they failed to do.

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Welcome to the stone age
-The invoice site is build for internet explorer

-The customer service hangs up your call before you are finished talking to them.

-it's not like other banks/brokers where your can transfer in and out money with just one button. Here your have to send in a document and photo id each time.

- if you have one error on the doc paper, they will call you after a some time. And tell you to send in a new document with the correct info.

- you have to print the document out and then put your signature on it. And then you have to take a photo of it, and send it to them with email.

So if you have some patience and are used to wasting time because of old technical solutions. This is the place for you.

Would you really trust that your money is safe. When the broker have a invoice page, that is build for internet explorer. This is 2014

It's really not very many brokers to choose from, especially for us that are not from the United States. You have Saxo bank, but they are a little bit more expensive. So I will probably come back and trade with them sometime =)

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terrible
what i can say about suretrader? wel, i made a mistake for choosing this broker first of all and also i am not happy with their hidden commission fees and the web platform is absolutely crap! how i wish i never an account with them at all! i would never ever recommend this broker or otherwise you'll end up losing all your money getting sucked up by a massive black hole.

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The only option for me
I trade a lot intraday and don't have 25k so SureTrader makes sense. Pretty decent borrows but it's annoying that you can't preborrow/reserve shares.

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My personal Review of Suretrader.
So I get asked a lot to provide my personal review of Suretrader. Here it is. They have hidden ECNs fees and other small stuff that gets annoying. Depending on your size per trade I'd say you'd pay $6-$11 to enter and exit with per trade, ecn, sec, and exc fees. Their customer service has improved since I started with them. I'm glad it got better because I was about to ditch them. Their are days the executions are bad, maybe once or twice a month. I think they are improving as a broker, but I have had some nasty experiences with them. First I've had wires take up too 3 weeks to transfer. Second this is and has been my worst experience with them, I purchased a stock and went long and I tried selling for min losses approximately -500$ or so and my orders got stuck. Wasn't able to sell and while I called them to get this fix the loss extended to -5k, and of course it wasn't their fault it was issues with the programming or so they said. Now I've had this happen multiple times but thank god I've been able to cut the others for tiny losses. So be prepared for that. I left a written message to Guy Gentile the owner per his manager request Phillip and never heard back. Btw the loss I took is nothing compared to commissions I have paid st, so to not hear back from them was a bad business move and a show of their loyalty to their customer. So be prepared if you do choose this broker. Prep for this type of situation. I have had other fellow traders and colleagues have the same exact issues I did. This is my honest review. Do I recommend them? No, but if you have a small account you probably have no other option.

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Suretrader. After posting my review
Suretrader looked into my situation. After I posted the review, they decided to refund a trade and fix and current and future problems.

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Positively Horrible
Here are the facts experienced when I tried to withdraw my money and close the account. The platform worked ok and there were shares to short. That is about where it ends.

14 days worth of e-mails. Then 7-10 to get the money transferred. Said they didn't recognise ABA numbers and other codes. Utter rubbish.

I'm about 6 days in and despite all of the form filling and e-mailing to a direct contact they never confirmed that they had initiated the transfer. They simply stopped replying to my e-mails.

From this thread, I found Jessica who was very helpful and told me the transfer had been initiated. But I had to call.

I suggest anyone who has concerns to do the same as me.

Total cost in hassle to get my money back really wasn't worth the gain.

If there is an alternative, I seriously suggest you choose it as I'm sure delaying tactics were used to prevent paying the money back to my account quickly.

A V O I D

The posts on this thread are here for a reason. Tim Sykes only recommended them because he was on a backhander.

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