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SpeedTrader

Published by
On Wednesday, June 11th, 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 (flat)*
N/A Stock Trade Fee (per share)*
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

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

Broker Awards

Offering of Investments

Yes Stock Trading
Yes Options Trading
Yes Mutual Funds
Yes Forex Trading
Yes Futures Trading
OTCBB / Pink Sheets
DRIPs
After Hours Trading
N/A Commission Free ETFs
N/A Retail Locations
N/A Mutual Funds (Load)
N/A Mutual Funds (No Load)
Mutual Funds (NTF)
Mutual Funds (Total)
N/A Complex Options Max Legs
-1 Clearing Firm
No Inactivity Fees
No Minimum Deposit
No Fee IRAs
Broker Assisted Trades

Research

Mutual Funds Research
Pink Sheets / OTCBB Research
Fixed Income Research
Global Market Overview
Equity Research - SEC Filings
ETF Research - Top 10 Holdings
ETF Research - 3rd Party Reports
Fund Research - Strategy Overview
Fund Research - 3rd Party Reports
Fund Research - Fees Breakdown
Fund Research - 3rd Party Ratings
Screener - Stocks
Screener - ETFs
Screener - Funds
Screener - Options
Screener - Bonds

Banking

Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
Retail Locations
No Fee Banking
Mobile Check Deposit
ATM Fee Reimbursement

Customer Service

Yes Phone Support
Yes Email Support
Live Chat (prospect clients)
Live Chat (current clients)
24/7 Support

Recommended For

Best in Class Commissions & Fees
Best in Class Platforms & Tools
Best in Class Research
Best in Class Customer Service
Best in Class Ease of Use
Best in Class Investor Education
Best in Class Mobile Trading
Best in Class Active Trading
Best in Class Options Trading
Best in Class New Investors

Mobile Trading

Yes iPhone App
iPad App
Android App
Mobile Site

Platforms & Tools

Yes Virtual Trading
Web Platform
Desktop Platform
Mac Platform
Platform Backtesting
Trade Hot Keys
Streaming Time & Sales
Level 2 Quotes
Streaming CNBC TV
Sitewide Real-time Quotes
Watchlist Streaming Real-time Quotes
Options - Chains Basic View
Options - Chains Spreads View
Options - Chains Greeks Viewable

Active Trading

Internalizes Trades
Receives Payment for Order Flow
Direct Market Routing (Stocks)
Client Liquidity Rebates
# of Easy to Borrow Stocks

Education

Investor Dictionary
Live Seminars
Investor Community

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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.

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