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Speed Trader reviews

Speed Trader Overview 2021

This is a large-volume internet broker. This is an internet broker which formed in 1999.

Client money are insured $ 600 thousand, with the company’s clearance plan, which is backed by the SIPC, offering $ 26.5 million in additional coverage per client.

Both plans will cover customers for up to $ 25 million in coverage, with an extra $ 1 million in coverage.

Investing platform

Speed Trader reviews

Traders can use trading platforms to keep their accounts funded and make restricted trades. Investors can use trading platforms to keep their accounts financed and trade assets on a variety of exchanges.

Improved security, information transparency, and secondary market liquidity through optimal trading.

In a networked environment, complex architecture databases should be used to enable traders to communicate effectively, apply appropriate search criteria, and electronically negotiate with offers based on transaction parameters and other terms and conditions to meet both parties’ needs.

Risk management, multi-screen capabilities, and a built-in Twitter feed are all included with Easy Access. ActiveWeb checks all the boxes if you’re searching for a basic direct market access network.

Assets

Users can only trade US shares, futures, bonds, and mutual funds on SpeedTrader, and their product selection is limited.

Commissions and fees

SpeedTrader’s compensation structure allows clients to pay per transaction or per share. A trade starts at $ 4.95, a share starts at $ 0.0026, and an option contract starts at $ 0.30. If less than 16 trades are completed in a quarter, an inactivity fee of $ 50.00 will be paid to your account.

Leverage

For overnight trading, leverage of up to 1: 400 and 1: 200 is available. Margin interest rates can be discounted, and leverage can be adjusted. To learn more about the optimal leverage strategy for you, contact customer care.

Mobile application

Level two data, complex graphing, option chains, order management features, news notifications, and more are among the features included in the software. This program is only compatible with iPhones and iPads.

Payment methods

A wire transfer or a bank transfer can be used to finance your account. Domestic transfers can take up to twenty-four hours in the United States, while international transfers might take up to forty-eight hours.

On a recurrent basis, the minimum deposit is $ 26 thousand, with maximum deposit of $ 60 thousand. Wire transfers or searches can be used to request withdrawals.

Although wire transfers are free, check delivery can cost as much as $ 40 per night. It is not possible to mail to addresses in other countries the same day.

Demo account

Speed Trader reviews

Demo account can show you how leverage can help you gain a lot of money quickly, but it may also cause you to lose everything if you make a bad transaction. Traders use leverage greater than 5:1, however forex brokers can offer up to 500:1 leverage.

The demo account is necessary for understanding how to place orders, and calculate contract sizes and margins based on leverage, among other things.

Even if you made money it doesn’t mean you’ll be a successful trader. In a controlled environment where losses are meaningless, emotions associated with losses and even wins have relatively little impact on your judgments.

When you trade with a real account, you can see directly how crucial discipline is for risk control.

Support

On the home page, in the lower right corner, there is a connection to help. The following resources will assist you:

Contact us by email at info@speedtrader.com.

Phone: (800) 874-6339

There is a live chat feature available. Monday through Thursday, 8:00 a.m. to 6:00 p.m. ET, and Friday, 9:00 a.m. to 4:30 p.m. ET.

Traders’ security

Standard security mechanisms, such as firewalls and SSL protocols, are used to secure trading sites, payment systems, and information exchanged by customer service.

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