Speedtrader Trading Commissions
- $6.95 per stock/etf trade
- OR $0.0039 per share, $0.99 min per stock/etf trade
- Futures Trades (Electronic): $1.00 per contract (plus exchange and NFA fees)
- Options Trades: $1.00 per contract
- Bonds Trades: $50 per ticket
- Mutual Funds: $50 per trade for no-load mutual funds
Speedtrader Important Fees and Surcharges
- Extended hours surcharge: $0
- Large order surcharge: $0
- Penny stocks surcharge: $0
- Quarterly Inactivity Fee: $30 per quarter if making less than 15 trades
- Option exercise or assignment: $30
- IRA set-up fee: $25
- Annual IRA fee: $35
Speedtrader Pros
- Great per-share stocks/etfs commissions
- Great customer service
- Lots of leverage
- Very good selection of routing
- Training mode trading: test out trades and train without risking your capital
- Great for OTC's
- Fast executions
Speedtrader Cons
- Quarterly Inactivity Fee: $30 per quarter if making less than 15 trades
- High mutual funds commission
- Annual IRA fee: $35; IRA set-up fee: $25
- High software fees
- Can't short penny stocks
- Limited borrows
Speedtrader Account Types
- Standard Account Types
- Individual
- Joint Tenants with Rights of Survivorship
- Joint Tenants in Common
- Custodial
- Organization Account Types
- Corporate
- Limited Liability Corporation
- Sole Proprietorship
- Partnership
- Revocable Personal Trust
- Non Revocable Personal Trust
- Investment Club
- IRA Account Types
- SEP IRA
- Rollover IRA
- Roth IRA
- Margin Account Types
- Margin Equity Requirements - Day trade Margin Account
- Margin Equity Requirements - Non-Day trade Margin Account
- Margin Maintenance Requirements
Speedtrader Review
Speedtrader's $6.95 flat-rate per trade commission on stocks and etfs is unremarkable. But the company also offers very low, per-share
commission plan of just $.0039 per share with $.99 minimum per trade. $50 for mutual fund transactions is extremely expensive.
Executions at the company are very fast and point and click order entering is done very well. Free streaming quotes and easy to reach,
knowledgeable customer service are always great too.
Unfortunately, Speedtrader has $30 inactivity fee charged each quarter if user made less than 15 trades during that quarter. This is
a huge "stop sign" for most prospective customers.
Speedtrader could work for day traders, especially those who trade OTCs and Pinksheet stocks. This is definitely not the right
firm for buy-and-hold investors, beginners to investing, retirement account, infrequent/occasional traders and mutual funds investors.
Along with Merrill Edge (Merrill Edge Review),
Vanguard (Vanguard Review) and
Wellstrade (Wellstrade Review), it is one of the worst rated
online brokers.
Speedtrader Promotional Code:
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