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Mike Davis and Associates PC.

How Does This Direct Access Broker Compare?

  • By: Mike Davis, Esq.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment.

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SpeedTrader does not guarantee the accuracy of, or endorse, the statements of any third party, including guest speakers or authors of commentary or news articles. All information regarding the likelihood of potential future investment outcomes are hypothetical. SpeedTrader is a direct-access broker that https://limefx.biz/ caters to active and professional traders seeking comprehensive execution and routing options, and lots of trading. ActiveWeb provides real-time streaming market data with Level 1 quotes and live charting, as well as account management and order queue from within the ActiveWeb trading platform.

App Privacy

I like the Short Search tool at SpeedTrader, allowing traders to check if an asset is available for short selling. SpeedTrader also provides access to four third-party locate services at ApexPro Clearing for access to a more comprehensive list.

Dave has been a part-time day trader and swing trader since 2011 when he first became obsessed with the markets. He focuses primarily on technical setups and will hold positions anywhere from a few minutes to a few days.

Trading Platforms

Day trading is subject to significant risks and is not suitable for all investors. Any active trading strategy will result in higher trading costs than a strategy that involves fewer transactions. 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. FeatureValueDefinitionBank NoOperates a regulated bank as a registered member of the FDIC – fdic.gov.Checking AccountsNoOffers formal checking accounts and checking services.

Do professional traders use stop-loss?

Because they use mental stops. One of the main reasons professional traders don't use hard stop losses is because they use mental stops instead. The advantage of this is that you don't have to 'give away' where your stop loss is by placing it in the market.

Max of 5000 shares per trade for accounts clearing at Apex Pro. Blain ReinkensmeyerBlain Reinkensmeyer is a Managing Partner at Reink Media Group.

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SpeedTrader operates under the regulatory framework of the SEC. It is also a FINRA member and offers traders protection under SAIC. AXOS Clearing traders get an additional $99.5 million third-party insurance underwritten by Lloyd’s of London. Opening an account at SpeedTrader consists of several steps. Then they must choose their clearinghouse in the next step, AXOS Clearing or ApexPro Clearing. Following the selection, the account opening process starts, including financial information. Overall trading costs are above average but decrease with monthly trading volume.

SpeedTrader offers its lightweight HTML5-based SpeedTrader ActiveWeb trading platform for less demanding traders. The limefx broker reviews SpeedTrader Pro is its desktop platform catering to active day traders and high-volume, high-frequency clients.

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This platform is provided by Das Trader and offers a nice range of tools. Speedtrader Pro is a powerful trading platform for active traders. It’s a desktop trading program that’s designed for day traders.

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If you’re an overseas account holder and/or if you don’t actively trade, you’ll pay a monthly fee of $30. The brokerage waives software fees if your account meets a fixed commission per month. If the minimum commission is not generated by the account, software fees works out to $25 per month for the web platform, $49 each month for Pro Level 1 and $104 per month for Pro Level 2. The SpeedTrader Mobile trading app including advanced charting, news, level 2, options chains and order management. It has a $30 a month access fee for ActiveWeb users and $15 per month for SpeedTrader Pro users. The mobile platform is one of the nicer mobile solutions available – offering great charts, level 2 screens, and advanced order routing options. That said, you may not want to incur the additional monthly cost if you don’t trade from your phone.

Options

The FAQ section offers answers to a few of the most common questions. Margin trading is available on request, but SpeedTrader does not disclose public information about this.

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Also check out his contributions to Equities.com and Benzinga. You’ll find the Basket Trading feature to be one of the most-used screens in Sterling Trader Pro. Here, you’ll be able to create, manage or trade one or more securities in one command. You’ll find it to be an invaluable companion during moments where time is of the essence.

Clients from some countries, such as Canada, are not permitted to open a SpeedTrader account. With SpeedTrader Pro, you can manage several accounts directly from the platform.

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