Thinking about opening an account with SureTrader?
Read my review where I share my thoughts and opinions so you know what you’re signing up for…
SureTrader is quite different from the rest of the online brokerages. It is clearly aimed at US residents while being an offshore brokerage firm.
They are under the umbrella of Swiss America Securities, Ltd. The Licensed personnel and over 40 support staff they employ make them quite a large organization among the myriad of offshore companies.
Unfortunately, they lack the strict regulations of the SEC but the Securities Commission of The Bahamas provide adequate regulation and safety for an offshore company.
SureTrader has a pricing structure very similar to that of US only brokerage firms while at the same time there are no pattern day trading regulations and no account minimums.
Which is quite important if you live in the US since those regulations make pattern day trading extremely restricted.
SureTrader offers lower leverage since their focus is on stocks and options. Most brokerages offer 200:1 or even 500:1 leverages, however only via CFD-s, in which case you don’t actually own the underlying assets.
SureTrader also offers an impressive 10.000 symbols to short which is one of the best in the industry. They also offer a custom credit card so that you can spend your profits directly out of your trading account.
This is a unique feature. Every service was designed with the trader in mind.
Their pricing structure is very transparent, however, keep in mind that you have to pay $40 for withdrawals and a $50 inactivity fee every 3 months (under 15 transactions).
SureTrader is also not a purely ECN brokerage since some of your trades are against Swiss America Securities, Ltd, however only a minority.
These policies are some of the negatives of their service.
Instruments offered by SureTrader
As I mentioned before SureTrader specializes in stocks and options. They do not offer Forex, Commodities, Futures or Indices at all. In return trading stocks and options are extremely cheap.
Only 1 penny per share. Also, commissions for options trades are only $0.50 more per contract.
- Forex: No
- Shares: Yes
- Commodities: No
- Futures: No
- Indices: No
- CFD-s: No
- Options: Yes
The variables of SureTrader, in order of importance
Like most US Brokerages SureTrader doesn’t have a spread when you trade. There is a single price and you pay commission.
You can choose between multiple routing options so you have a lot of influence over you trades while having a pretty good fill on any trade.
SureTrader also offers a wide range of deposit options in addition to bank transfer and Credit cards like Skrill and Neteller.
Specialization: Asset-backed US stocks and options trading
- Broker type: ECN
- Spread: No Spread
- Additional Fees: $4.95 Min
- Execution Time: Good+Routing options
- Platforms: SureTrader Activeweb&Desktop&Mobile
- Regulations: Fatca, Securities Commission of The Bahamas
- Deposit: Bank Wire, Credit/Debit Card, ACH, Skrill, Neteller
- Min deposit: $500
- Who can invest: Everyone, US Citizens as well
- Inactivity fee: Yes, $50/3months
Their Desktop trader has less functionality than the very popular MetaTrader 4, however, it does the job well.
Additional considerations, in order of importance
SureTrader offers two types of trading accounts: Personal and Organizational.
They also run their free $50 promotion, but you have to deposit $1000 within 30 days to receive your bonus.
Unlike most brokerages, SureTrader does not offer most of the extra services like webinars, long-term investment funds or VPS hosting. They expect you to already have some trading experience and that you are serious about trading and investing.
- Types of accounts: 2
- Market research: no
- Webinars: no
- Bonus/promotions: Yes $50
- Investment funds: no
- Demo account: Yes
- VPS Hosting: no
- Competitions: no
- Swap-free accounts: no
- Extras: SureTrader DebitCard, 10,000+ Symbols to short
Their registration process is quite robust, which gives an added security for both parties.
I recommend at least trying out their demo account so you can see how their trading platform works, before committing any funds.
In case you live in the US:
If you are looking to trade actively I do recommend SureTrader. If you are simply looking to invest long term then you should choose a US based brokerage.
In case you live outside of the US:
SureTrader is the best option for trading in the US market if you live outside of the US. However, I would not recommend them for long-term investing.
Suretrader Review: My Rating: 8/10
They are excellent for trading on the US market, however, there are better options for long-term investing. Also, there is the added risk of them being an offshore brokerage firm.