There aren’t many brokerages out there that offer a no day trade pattern rule. SureTrader offers no day trade pattern rules. Let’s dive into our SureTrader review.
SureTrader Review: A Brokerage With No Day Trade Pattern Rule
Day trading is a very daunting activity but can be very profitable. It can be both a strenuous and high-risk activity, but with the right tools, one can become a successful day trader. Finding the best online stock broker is vital for a day trader. If becoming a trader isn’t for you, you can also use SureTrader as a brokerage to invest money in your own portfolio.
One of the best stock brokerage platforms today is SureTrader.
In this SureTrader review, we will look at how to use SureTrader, its features, pricing, its benefits as well as its bottlenecks.
If you sign up with our link, you will receive $50 in FREE trade commissions when you open an account!
I’ve given you the best forex trading books and several other guides to product reviews to help you become a better investor or trader. I’ve been focused on a dividend investing strategy that will help you achieve financial freedom in 5 easy steps.
I even wrote a book about it called Dividend Investing Your Way to Financial Freedom. You can download a sample of the book if you are interested in learning more.
SureTrader is a perfect platform for both novice and experienced investors. Many advanced investors have embraced it because it’s one of the best brokers with no pattern day rule which was enforced by the US SEC of $25,000 minimum account balance. Since its inception in 2008, SureTrader has drawn the interest of many day traders who benefit from its low-cost online stock brokerage. In SureTrader platform, an investor can trade with as little as $500 and can place any number of day trade entries.
If you’ve ever wondered, is SureTrader legal? Well. Yes, it is. Owned and operated by Swiss America Securities Ltd, this online stockbroker cum dealer is based in the Bahamas and is regulated by the Securities and Exchange Commission in the Bahamas. Founded by Guy Gentile, SureTrader now boasts of over 60 active support employees with many years of combined experience.
It has over 20,000 clients and executes over 12,000 trades per day. So, here are some features of SureTrader platform.
The Core Features of SureTrader Platform
Becoming a smart investor starts with using platforms with the best tools. Here are several of the key core features of the SureTrader platform.
SureTrader Three trading tools
SureTrader has three trading platforms investors can choose from which include SureTrader Desktop, SureTrader Web-based Trading platform/Active web and SureTrader Mobile app. The SureTrader Pro also called the desktop-based platform is a fully integrated point-and-click trading with premium trading functionalities including the use of direct-access software. The platform costs $49 per month and offers traders more options to customize the platform to suit their needs, and real-time news among other trading capabilities.
The Web-based trading platform is free to use and has numerous trading capabilities as well. The mobile-based platform, on the other hand, costs $25 per month and it gives you the ability to use mobile devices such as iPhone or Android to trade. Unlike other platforms, the mobile-based one lets you trade while on the go, and you don’t have to be in any particular location.
Free $100k Demo Account
If you’re a novice trader, you can quickly test the waters of day trading without first using your real money. SureTrader has a free demo account that gives traders the chance to trade with $100,000.
It is also an ideal account to help even the advanced traders learn the more about the platform and to develop the best strategy for real trading. This can help you build a strategy and avoid losses in the market by practicing. Here are some of my favorite investment tips I’ve learned.
Real-time Charting Tools
If you visit the SureTrader website, the first thing that will capture your attention is the intuitive interface and the charting tools. The platform offers different types and styles of charts with options to customize them to suit your needs. Isn’t that amazing? I bet so.
With the real-time data streaming, you can see the price fluctuations on the spot. The platform has different tools including candlesticks, bar charts, and multiple data points and even gives you a chance to set the charts into different charts.
A lot of people wonder, is SureTrader safe? Well. SureTrader is one of the online stockbrokers that provide the highest level of protection and security. The Securities Commission of the Bahamas regulates it, and thus it strictly adheres to all the international standards. What’s more?
The platform is cloud-based and uses the cloud-based Secure Socket Layer (SSL) and Site Lock to add an extra level of protection to the investors’ data confidentiality.
Swift Order Executions
Since the platform features the direct access technology, it has a lightening order execution speed. The trades that you place go live instantly. The technology lets you send orders very quickly and also access real-time data.
SureTrader is one of the stock brokerage platforms today with indispensable leverage. In the platform, you can get 6:1 intraday leverage and 2:1 overnight leverage albeit with over $3 marginable securities.
Penny Stock Shorting
Another feature we can’t fail to explore in this SureTrader review is the penny stock shorting. SureTrader has one of the largest lists of stocks, and the traders can expect to get over 10,000 symbols daily to short. Also, you get informed of the shortable stocks and whether any restrictions may apply by the brokers.
The platform offers 24/7 customer support and has over 60 support staff ready to answer all your queries regarding the platform. You can contact them via phone, video calls, live chat or email and instantly get the service that you’re seeking.
There have been a few complaints from clients about delayed customer service though it has tried to put the best foot forward given the high number of clients and trades per day.
Pricing Structure of SureTrader
Pricing is crucial with any investment brokerage account. We cannot fail to explore SureTrader costs and commissions in a SureTrader review. So, let’s look at the pricing structure of SureTrader.
SureTrader Costs, Fees and Commissions
SureTrader is one of the low-cost brokerage accounts available today. It has no hidden costs, and you can gather as much information about their pricing, costs, and commissions from their website.
The trading fees of the SureTrader platform include $0.005, with $1.95 minimum. The options trading commissions, on the other hand, are $4.95, plus $0.50 per contract. It offers lower fees to traders who trade high volumes of shares like $250,000 shares and above.
SureTrader charges no routing fees. It also offers low margin fees depending on the margin balance. Besides, it has a competitive commission rate of $4.95 in addition to an extra $0.65 per contact. The SureTrader Pro plus or mobile app platform cost is $49 per month albeit the fact that it also attracts a $35 per month subscription fee. Here’s how to start investing easy and profitably.
Pros and Cons of SureTrader Brokerage Platform
Before we wind up this SureTrader review, let’s look at some of the benefits and bottlenecks of using the platform.
Benefits of using SureTrader
- Allows the investors to trade with no pattern day trade rule
- Has no minimum account balance
- Has latest and easy-to-use trading technology and best user interface
- Offers investors increased leverage, and they can trade on margin
- Offers discounts on margin rates
- Fast trade executions
- Allows extended trading hours
- Has an excellent customer service
- Offers lower and competitive fees, online stock trading rates, and commissions
- Offers multiple choices for account funding including debit and credit cards
Drawbacks of the SureTrader Platform
- The traders pay $40 fee to cater to the outgoing funds.
- Traders also pay an inactivity fee of up to $50 quarterly for accounts that have traded less than 15 times.
Conclusion on our SureTrader Review
I believe this SureTrader review has explored well the ins and outs of the trading platform and now you’re fully informed. If you weigh the pros and cons of SureTrader and compare it to other platforms, you will realize that it’s still one of the best and low-cost online brokerage platforms available today.
Consider using these option strategies for income when you open your account and get started.
What is your favorite part of our SureTrader review? Please let us know in the comments below. We’d love to hear from you.
Related Investing Product Reviews:
- Motley Fool Stock Advisor Review
- TradingView Review: Start Charting Like a Pro
- Qplum Review: Reduce Risk During Stock Market Volatility
Subscribe to the Millionaire Mob early retirement blog newsletter to find the best travel hacking tips, dividend growth investing, passive income ideas and more. Achieve the financially free lifestyle you’ve always wanted.
Join our community of over 3,000 mobsters seeking financial freedom. What are you waiting for?