SpeedTrader Review: Is Trading With speedtrader.com Worth Your Time?

SpeedTrader is a brokerage company that offers online trading services to both professional and retail traders. Stocks, options, and futures trading are among the financial products they offer. For aggressive traders who need quick execution and real-time market data, SpeedTrader is renowned for its direct-access trading platforms and tools. 

However, the question remains, is SpeedTrader a reliable broker? Read our SpeedTrader review and find out! 

Who Is SpeedTrader?

SpeedTrader is a New York-based online stock broker specializing in online trading services. Just like Cobra Trading, they have been operational for a long time, since 1999. However, for a broker working that long we were surprised there were no genuine reviews on Trustpilot or any other platform. Either way, we decided to dedicate our time to finding out who SpeedTrader really is. 

At first glance, their website looks well-designed and rich with information. As you delve further, you will notice a list of the SpeedTrader fees transparently shown with an explanation of why they’re charged. The company specializes in the online trading field and offers many benefits which we will reveal throughout the article. 

Regulation Info

SpeedTrader broker is a member of FINRA, a financial organization in the United States. Additionally, it is a member of SIPC, which means investors are covered with a compensation fund. 

As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000 (including $250,000 for cash claims).

SpeedTrader Broker Profile

With SpeedTrader, you can trade in stocks, options, bonds, and mutual funds. Online, you can only trade stocks and options. The SpeedTrader account minimum depends on the platform you choose. For the SpeedTrader Pro, the minimum is $10,000, for the Active Web it is $2,500, or eventually, the SpeedTrader minimum account to day trade is $30,000. 

Before investing your time and money, the SpeedTrader demo account allows you to test their services. Regarding share limitations, for a market order, the max order is 100,000, and for a Limit order, the max is 1,000,000. 

Is SpeedTrader Safe To Trade With?

SpeedTrader looks like a reliable choice at first glance, especially considering that many brokers in the US don’t have a license and operate illegally. They seem transparent enough, however, there are no reviews for the broker so checking prior experience from other traders is a bit difficult. 

At the SpeedTrader login page, you can test out their services before you invest real money, which is also very beneficial. It is vital to note that the broker doesn’t accept credit or debit cards, making it harder to file for a chargeback but since they provide coverage for investors, we can say that they’re safe to trade with, just like JP Markets. 

Who Are the Traders They Cater To?

Even though there are no reviews for the broker, the company seems popular in various nations, including the United States where the broker is regulated, Canada, the UK, India, and Germany. It is vital to note that SpeedTrader doesn’t possess licenses from BaFin in Germany or the FCA in the UK. 

Either way, the platform seems like a reliable choice, especially considering how low the SpeedTrader commissions are. Brokers like this often offer an affiliate program and with SpeedTrader, you can earn $100 for each referral. 

Deposits and Withdrawal Methods

Credit and debit cards are not accepted and neither are any popular e-wallets like Skrill or Neteller. You can fund your account via a wire transfer or ACH. Additionally, transferring your funds from another broker is also a possibility. 

After funding your account with the SpeedTrader minimum deposit, you are able to start trading. Withdrawals are done through the same payment options and the process is easy. Just log into your account and request one and details will be sent to you via email.  

Weighing the Pros and Cons

Can I Make Money While Trading Online?

Making money online can be possible, with the right broker, strategy, and knowledge. However, it is vital to note that no one can guarantee success and it is up to the level of trading you possess. If you get into trading blindly, without prior knowledge and a plan, you can only end up in debt. 

That is why, our sophisticated AI bot has all the right tools for both beginners and seasoned traders. With its ability to analyze historical price data and charts, it takes trading to a whole different level. It guides you on whether to buy or sell, helping you make more informed decisions in the complex world of trading.

If you are ready to elevate your trading skills and become a profitable trader, give us a call right away. If you are within the first 100 traders that reached out, our AI bot is yours for 20 days for free, without any commitment. However, we promise you won’t be able to get enough of it. Time flies and our AI bot is waiting, reach out now! 

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