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Broker Reviews

SpeedTrader

Published by
On Tuesday, April 15th, 2014 .

Overview

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Dislikes

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Our SpeedTrader review provides broker notes, commissions information, and online broker ratings. Please note - SpeedTrader chose not to be included in our 2014 Online Broker Review and thus has limited information alongside no star ratings.
Blain Reinkensmeyer

Reviewed by

Blain has been involved in the markets for over 12 years, heading StockBrokers.com equity broker research and reviews. His personal blog, StockTradingToGo.com, provides to-the-point daily market recaps to over 17,000 subscribers.

Commission Notes

SpeedTrader has two main platforms: SpeedTrader 2.0 (Free) and SpeedTrader PRO. PRO costsĀ  start at $49.00 per month unless $49 spent in commissions that month. There are additional market feeds that be purchased for extra. All accounts are subject to a $30 quarterly inactivity fee if less than 15 trades are placed in the quarter.

Stock Trades - SpeedTrader offers two sets of commission rates for trading equities. Plan A offers $6.95 flat rate trades. Plan B offers a $.0039 per share rate with a $.99 minimum order.

Options - Options are $1 per contract, no minimums. Option exercise and assignments are $30 each.

Mutual Funds - Are supported at a minimum charge of $50 per transaction and must be phoned in.

Other Offerings - SpeedTrader also offers futures and forex trading.

Retirement accounts - Are supported but there is a $25 setup fee and a $35 yearly maintenance fee.

Trade Commissions Breakdown

$6.95 Stock Trade Fee*
N/A Options Base Fee*
$1.00 Options Per Contract Fee*
N/A Options Exercise Fee
N/A Options Assignment Fee
$50.00 Mutual Fund Trade Fee
N/A Broker Assisted Trades Fee
$500.00 Minimum Deposit

Margin Rates

-1.00% Under $24,999.99
-1.00% $25,000.00 to 49,999.99
-1.00% $50,000.00 to $99,999.99
-1.00% $100,000.00 to $249,999.99
-1.00% $250,000.00 to $499,999.99
-1.00% $500,000.00 to $999,999.99
-1.00% Above $1,000,000.00

Miscellaneous Fees

N/A Bond Trade Fee
N/A Treasury Trade Fee
$0.00 CD Trade Fee
N/A IVR Trade Fee
N/A IRA Annual Fee
N/A IRA Closure FEe
N/A Forced Margin Sellout Fee
N/A Returned ACH Fee
N/A Returned Wire Fee
N/A Stock Certificate Processing Fee
N/A Stock Certificate Delivery Fee
N/A Paper Statement Fee
N/A Paper Confirmation Fee
N/A Domestic Wire Fee
N/A International Wire Fee

Broker Ratings

Commissions & Fees
Ease of Use
Overall
Research
Platforms & Tools
Customer Service
Mobile Trading
Offering of Investments
Education
Overall

Broker Awards

Misc. Account Information

-1 Clearing Firm
-1 Commission Free ETFs
-1 Retail Locations
-1 Mutual Funds (Load)
-1 Mutual Funds (No Load)
-1 3rd Party Research Reports
-1 Complex Options Max Legs

Account Features

Yes Virtual Trading
No Minimum Deposit
No Maintenance Fees
No Fee IRAs
Investor Community
Live Seminars

Mobile Trading

Yes iPhone App
iPad App
Android App
Mobile Site

Customer Service

Yes Phone Support
Yes Email Support
Yes Live Chat
Retail Locations
24/7 Support

Trade Types

Yes Stock Trading
Yes Options Trading
Yes Mutual Funds
Yes Forex Trading
Yes Futures Trading

Recommended For

Best in Class Options Tading
Best in Class Active Trading
Internalizes Trades

Banking Features

Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans

Trading Platform Features

Web Platform
Desktop Platform
Mac Platform
Platform Backtesting

Active Trading Features

Direct Routing (Stocks)
Receives Payment for Order Flow
Internalizes Trades
Client Liquidity Rebates

Compare SpeedTrader:



All pricing data was obtained from a published web site as of 04/07/2014 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the top of this page. * For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.