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SpeedTrader Review

Blain Reinkensmeyer

January 14th, 2022

SpeedTrader, a division of Mint Global Markets, has been serving active traders for 20 years. As a DAS Trader Pro exclusive firm, SpeedTrader caters solely to hyperactive and professional traders and offers discounted commissions; however, pricing plans are complicated.

Top Takeaways

Here are our top findings on SpeedTrader:

  1. Founded in 1999, SpeedTrader is a competitor in the ultra-competitive niche of professional traders.
  2. SpeedTrader's pricing is slightly better than its close competitors, which helped the broker finish Best in Class (top 5) for Commissions & Fees. That said, it doesn't have the size and sophistication to offer lower costs than pricing leader Interactive Brokers.
  3. One advantage of choosing SpeedTrader should be customer service. While SpeedTrader did deliver quick pick up times, service was not better than Lightspeed and Cobra Trading. Access to better shorts is another potential benefit; however, every player in this space mentions this, and we were unable to derive a comprehensive testing methodology.
  4. SpeedTrader is a DAS Trader Pro exclusive brokerage. Bottom line: DAS Trader Pro gets the job done but doesn't outperform the best day trading platforms.
  5. In our testing, we found that SpeedTrader underperforms in the areas relevant to everyday investors, including Ease of Use, Research, and Education, making it a poor choice for beginners and those seeking commission-free trading.

Overall Summary

Please Note: SpeedTrader was not included in our last annual review. As a result, this broker's ratings may be outdated. Read our best online brokers guide for a breakdown of the top rated brokers.

Overall 2.5 Stars
Commissions & Fees 4 Stars
Platforms & Tools 3 Stars
Research 1 Stars
Mobile Trading Apps 3 Stars
Offering of Investments 2.5 Stars
Education 1 Stars
Ease of Use 2.5 Stars

--> View SpeedTrader Features List

Commissions and Fees

With multiple plans and subscription options, traders need to read the fine print to select the best setup for them. For low-volume traders, SpeedTrader becomes very expensive, very quickly.

Accounts types: SpeedTrader currently works with two clearing companies, COR and ETC. This means two different plan options for traders. Choosing an ETC account sacrifices the pay per-trade option, as well as the ability to trade options or make ACH transfers. Regardless of the account type, platform fees are additional and come bundled with market data, which is another cost passed onto the trader. Also, like all professional focused firms, traders are fully responsible for their market center routing fees or rebates. Adding liquidity yields a rebate, while taking liquidity (e.g., market orders) are charged an additional fee by the market center.

COR vs ETC pricing: Traders with COR accounts can either choose per-trade pricing, starting at $4.49 per trade plus/minus routing fees, or per-share pricing, starting at $0.0044 per share plus/minus routing fees, with a one- to two-day waiting period to change between the two. COR aside, traders with ETC accounts are given a discounted $.004 per share, plus/minus routing fees, which decreases down to $0.001 per share plus/minus routing fees, if a high enough monthly share volume is achieved.

Platform pricing: Monthly DAS Trader Pro platform plans range from a minimum of $25 for a web-only platform to $104 a month, and can be waived only if certain minimum commission spend thresholds are met.

Margin rates: SpeedTrader charges 6.00% margin rates across the board, which is competitive, yet much higher than industry leader Interactive Brokers.

SpeedTrader pricing summary:

Minimum Deposit$30,000.00
Stock Trades$4.49
Penny Stock Fees (OTCCB)$4.49
ETF Trade Fee$4.49
Options (Base Fee)N/A
Options (Per Contract)$0.00
Futures (Per Contract)N/A
Mutual Fund Trade Fee$50.00
Broker Assisted Trade Fee$30.00
View all 23 data points

Platforms and Tools

SpeedTrader is a DAS Trader Pro exclusive brokerage. While DAS Trader Pro provides the features needed to trade professionally, including advanced order functionality and endless hotkey mapping options, there is a clear lack of tools. For traders seeking a variety of trading tools and features, they will be better served by a proprietary trading platform.


SpeedTrader trading platform summary:

Desktop Trading Platform Yes
Web Trading Platform Yes
Paper Trading Yes
Trade Journal No
Watch Lists - Total Fields30
Charting - Indicators / Studies36
Charting - Drawing Tools9
Charting - Study Customizations8
Charting - Save Profiles Yes
Trade Ideas - Technical Analysis No
Streaming Time & Sales Yes
Trade Ideas - Backtesting No


Like SpeedTrader’s closest competitors, Lightspeed, Cobra Trading, and CenterPoint Securities, research is not a focal point and is essentially nonexistent. Traditional fundamental research, including advanced portfolio analysis and backtesting capabilities, are nowhere to be found.


SpeedTrader research summary:

Research - Stocks Yes
Stock Research - ESG No
Stock Research - PDF Reports0
Screener - Stocks No
Research - ETFs No
Screener - ETFs No
Research - Mutual Funds No
Screener - Mutual Funds No
Research - Pink Sheets / OTCBB No
Research - Bonds No
Research - Futures No
Research - Forex No

Customer Service

To score Customer Service, partners with customer experience research group Confero to conduct phone tests from locations throughout the United States. For our 2019 Broker Review, 300 customer service tests were conducted over ten weeks.


  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 7.0 / 10
  • Average Professionalism Score: 6.5 / 10
  • Overall Score: 7.24 / 10
  • Ranking: 12 th (16 brokers)

Mobile Trading

Like SpeedTrader’s closest competitors, Lightspeed, Cobra Trading, and CenterPoint Securities, mobile apps and trading on the go are an afterthought. SpeedTrader offers iSpeedTrader, which is available for download from the Apple iTunes store, while Android users must download the DAS Trader Pro app directly to trade. Compared to competitors such as TradeStation and Interactive Brokers, the mobile experience is terrible.


SpeedTrader mobile summary:

iPhone App Yes
Android App Yes
Apple Watch App No
Watch List Syncing No
Stock Alerts No
Charting - After-Hours Yes
Charting - Technical Studies14
Charting - Study Customizations No
Watch Lists - Streaming Yes
Watch Lists - Create & Manage Yes
Watch Lists - Column Customization No

Offering of Investments

SpeedTrader offers everything professional traders require to go about their business. Benefits include full direct-market routing and short locate capabilities with multiple venues for liquidity.

SpeedTrader offering summary:

Stock Trading Yes
OTCBB / Pink Sheets Yes
Options Trading Yes
Complex Options Max Legs4
Bonds (US Treasury) No
Futures Trading No
Forex Trading No
Mutual Funds (Total)0
Advisor Services No
Crypto Trading No
Crypto Trading - Total Coins0

Final Thoughts

SpeedTrader is a direct-access broker that caters to active and professional traders seeking comprehensive execution and routing options, and lots of trading.

Assuming you can meet the minimum monthly commission spend thresholds to even make sense of the pricing structure, there are only two reasons to consider SpeedTrader. The first would be that you are using a small shop where you can get to know the trading desk personally. The second reason would be to access SpeedTrader’s short locate tool.

Beyond these two considerations, Interactive Brokers offers better pricing, a far superior trading platform, significantly better mobile capabilities, and much better all-round value.

About SpeedTrader

SpeedTrader, a division of Mint Global Markets, was founded in 1999. Appealing to the elusive segment of traders who place hundreds to thousands of trades per year is no easy task. Size matters to drive down costs, and as we will explore here, firms such as SpeedTrader face great difficulty in providing value over industry leaders.

About the Author

Blain Reinkensmeyer

Blain Reinkensmeyer is a Managing Partner at Reink Media Group. He heads research for all U.S.-based brokerages on and is respected by executives as the leading analyst covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets, and he is noted as a top expert on the U.S. online brokerage industry.

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All pricing data was obtained from a published web site as of 01/10/2022 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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