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Best DAS Trader Pro Brokers

Blain Reinkensmeyer

The StockBrokers.com best online brokers 2020 review (10th annual) took six months to complete and produced over 30,000 words of research. Here's how we tested.

DAS Trader Pro is a desktop trading platform built for professional-direct-access trading. Traders who wish to use Das Trader Pro can either A. Open an account with an online broker that supports the third-party platform or B. Purchase market data through DAS directly and use the platform for analysis only with no trading. Both options also include a monthly fee to lease the platform.

The main (claimed) advantage of using direct-access software is faster order execution. DAS Trader Pro traders can route orders to over 75 market makers with latency-sensitive order validation.

Best DAS Trader Pro Brokers

Here's a summary of the best brokers that have DAS Trader Pro as a platform option.

  • Interactive Brokers - Best Overall, $0 minimum deposit
  • Cobra Trading - Competitive Margin Rates, $30,000 minimum deposit
  • SpeedTrader - Direct Access Broker, $30,000 minimum deposit
  • CenterPoint Securities - Direct Access Broker, $30,000 minimum deposit
Interactive Brokers

Best Overall, $0 minimum deposit Open Account
Exclusive Offer: New clients that open an account today receive a special margin rate.

Interactive Brokers offers the most complete DAS Trader Pro experience, providing traders access to global markets (135 market centers in 33 countries). Additionally, professionals can take advantage of industry-leading commissions, which includes the lowest margin rates across all balance tiers. Read full review

Cobra Trading

Competitive Margin Rates, $30,000 minimum deposit Open Account
Exclusive Offer: Special Offer: Get a 50% comm. discount for 60 days.

Cobra Trading is the best DAS Trader Pro broker for traders who prefer a direct access broker over a traditional broker. Cobra Trading offers good customer service, competitive margin rates, and multiple trading platforms. Read full review

SpeedTrader

Direct Access Broker, $30,000 minimum deposit

SpeedTrader is a direct-access broker with reliable customer service, over 25 order routes, and competitive software fees. SpeedTrader is similar to Cobra Trading and CenterPoint Securities, with the main differences being margin rates, commissions structure, and hard to borrow shorts access. Read full review

CenterPoint

Direct Access Broker, $30,000 minimum deposit

CenterPoint Securities is a direct-access broker with multiple clearing options and tiered, volume-based pricing. CenterPoint Securities is similar to SpeedTrader and Cobra Trading, with the main differences being margin rates, commission structure, and hard to borrow shorts access. Read full review

How much does DAS Trader Pro cost?

DAS Trader Pro data can be purchased directly from DAS, or through the brokers listed throughout this guide. If you subscribe to DAS Trader Pro directly, you are subscribing to use the trading platform without any order routing or execution. Traders should examine their trading activity before deciding to open an account with a broker that offers the DAS Trader Pro platform.

Traders can expect to pay between $100 - $200 a month, depending on the data packages they require to trade. Note: The fees below are what traders can expect to pay if they are set on using DAS Trader Pro as a platform. Different fees are charged for different platforms. For example, traders have access to Trader Workstation (TWS) from Interactive Brokers for no monthly cost. Traders who do not need Das Trader Pro as a platform should read our Best Day Trading Platforms guide.

Interactive Brokers (read full review) - Software fees to use DAS Trader Pro are between $100 - $200 a month, depending on the data package a client is interested in. The cheapest package with level II data is $150 a month. These fees are not waived by high-volume trading. Interactive Brokers charges between $.0035 - $.0005 per share, with an account minimum of $0. However, there is a $100,000 account minimum for margin accounts.

Cobra Trading (read full review) - The monthly software fee for DAS Trader Pro is $125, which is waived for clients that trade at least 250,000 shares a month. The software fee does not include optional data feeds, which pose an additional monthly charge. Cobra Trading charges between $.004 - $.002 per share based on how many shares are traded each month and has an account minimum of $30,000.

SpeedTrader (read full review) - SpeedTrader charges between $25 - $104 a month to use different versions of Das Trader Pro. The cheapest version is web-only, while the version charging $104 a month includes level two data. Optional market data feeds are available at an additional per-month rate. The monthly software fee is waived for clients generating at least $499 in commissions. SpeedTrader charges between $.0044 - $.0025 per share or between $4.49 - $2.95 per trade, and has an account minimum of $30,000.

CenterPoint Securities (read full review) - The monthly software fee for DAS Trader Pro is $120, which doesn't include optional market data feeds. The monthly software fee is waived if traders trade 200,000 shares that month. CenterPoint Securities charges between $.004 - $.002 per share or between $5.95 - $2.95 per trade, and has an account minimum of $30,000.

What DAS Trader Pro broker offers the cheapest margin rates?

Interactive Brokers offers the best margin rates in the industry. Margin accounts at Interactive Brokers require a minimum deposit of $100,000. Below is a comparison table of margin rates offered by all DAS Trader Pro brokers. Please note that margin rates for CenterPoint Securities are variable and based on the Banque Centrale Du Luxembourg.

Margin Rates

What can you trade on DAS Trader Pro?

DAS Trader Pro supports stock, options, and penny stocks trading. Futures trading, forex trading, mutual funds, and bonds can also be traded if clients have a broker licensed for those products.

Does DAS Trader Pro have a mobile app?

DAS Trader Pro is one of the few mobile trading application to offer real-time level 2 data. The DAS Trader Pro app provides the ability to locate shorts, display depth for options, and use trade signals.

Does DAS trader work on Mac?

You can run DAS Trader Pro on a Mac device by using Bootcamp. That said, DAS Trader Pro is intended to be used on a windows device. More information on this subject can be found here.

What trading features does Das Trader Pro offer?

Most widgets on DAS Trader Pro have multiple layers of customizability to them, allowing traders to change colors, columns, and more. Customizable trading hotkeys allow traders to perform tasks like pulling up news, custom day charts, or buying and selling shares at a specific ask or bid price.

Another feature that all DAS Trader Pro brokers offer is a short locator tool, a useful tool for any trader with a short-selling strategy. DAS Trader Pro also offers a trade signals tool, which allows users to screen stocks based on thresholds such as price movement, volume, and percentage points gained/lost.

Final Thoughts

Das Trader Pro is a popular trading platform for day traders. The platform’s popularity stems from its focus on direct-access trading.

In our testing, we found Das Trader Pro’s trading tools to be good, but not great, when stacked up against the best day trading platforms.

The biggest drawback to using Das Trader Pro is the pricey monthly licensing costs (market data for professionals is similarly priced regardless of where you trade). For example, for our top broker recommendation, Interactive Brokers, it makes little sense to use Das Trader Pro when you can pay no licensing fee to use the Trader Workstation (TWS) platform directly.

About DAS Trader Pro

DAS, the company that offers Das Trader Pro, is a market data provider for the CBSX, Nasdaq OMX, and NYSE/ARCA, amongst others. DAS provides access to NYSE floor brokers and routing strategies for exchanges, ALGO, dark pools, and liquidity providers.

The primary advantage of using DAS Trader Pro is the ability to route orders through over 75 different market makers. Traders can route orders based on the exchange of the underlying asset they want to trade. In this regard, direct-access brokers like Cobra Trading and SpeedTrader can compete with market leaders like Interactive Brokers.

Read Next

Explore our other online trading guides:

Methodology

For the StockBrokers.com tenth annual best online brokers review published in January 2020, a total of 3,540 data points were collected over six months and used to score brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry.

Participation is required to be included. Each broker completed an in-depth data profile and provided executive time (live in person or over the web) for an annual update meeting. Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

Still aren't sure which online broker to choose? Email us a question! Whether you are a beginner investor learning the ropes or a professional trader, we are here to help. Email us your online broker specific question and we will respond within one business day.

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Blain Reinkensmeyer

About the author: As Head of Research at StockBrokers.com, Blain Reinkensmeyer has 18 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, Blain has been quoted in the Wall Street Journal, The New York Times, Forbes, and the Chicago Tribune, among others.


All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. 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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