Ratings

Overall
Commissions & Fees
Customer Service
Platform & Tools
Research
Ease of Use
Investment Offering
Education
Mobile Trading

Trade Commissions

Equity Trades*	$6.95
Options Fee*	$0.00
Options Contract*	$1.00
Mutual Fund	$50.00
Broker Assisted*	$0.00
Minimum Deposit	$500.00

Account Features

Virtual Trading
No Minimum Deposit
No Maintenance Fees
No-Fee IRAs
Online Trader Community
Investment Education

SpeedTrader Review

Broker Review

Likes - Negotiable commission rates for active clients.

Dislikes - No research tools or education; basic DAS Trader WEB platform minimalist solution; expensive options exercise and assignment fees; numerous fees associated with other platforms.

Bottom Line - While SpeedTrader may be a competitive cost solution for an active trader making over 1500+ trades per month, it has little value to offer the average retail investor.

Our SpeedTrader 2011 review provides trade platform screenshots, detailed commissions information, and online broker ratings. Compare SpeedTrader to other stock brokers and see how the broker did in the most recent StockBrokers.com 2012 Review of Online Brokers as well as the 2012 Barron’s Review of Online Brokers and 2011 SmartMoney Broker Review.

Commission Notes

SpeedTrader has two main platforms: SpeedTrader 2.0 (Free) and SpeedTrader PRO. PRO costs 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.

SpeedTrader was reviewed by StockBrokers.com on 2012-02-27 with an overall rating of 2 Stars.

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SpeedTrader Review

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