SpeedTrader is a New York-based broker designed from the ground up for active day traders. It runs on the DAS Trader Pro platform, offers true direct market access across 40+ routing options, and keeps pricing competitive enough that high-volume traders can genuinely come out ahead. The tradeoffs are real: high minimum deposit requirements, no cash accounts, and a fee structure that punishes low-activity months. This is a broker for traders who trade every day, not occasionally.
Who SpeedTrader Is For
The broker targets active day traders who need more than what a standard retail brokerage delivers. The emphasis is on speed, routing depth, and access to short locates. Traders executing dozens of trades per day will find the per-share pricing tiers meaningful. Traders who dip in and out of the markets once or twice a week will find the minimums and inactivity fees a poor fit.
SpeedTrader is a FINRA and SIPC member. Accounts cleared through Axos Clearing receive additional insurance coverage through Lloyd’s of London, bringing total per-client protection to $100 million (including up to $1.15 million for cash balances).
Platforms
SpeedTrader Pro (Desktop)
SpeedTrader Pro is DAS Trader Pro under a different label. Basically the same software, powered by DAS Inc. This matters because DAS Trader Pro is a known quantity in the active trading community: fast, configurable, and built around direct access order entry. The platform supports real-time Level 2 quotes with Time and Sales streaming, full candlestick charting with multiple chart types and technical indicators, multi-screen layouts, and over 100 hotkey configurations.
Order entry directly from the Level 2 montage is supported. Point-and-click trading and custom watchlists are standard. Multi-account management runs within the same window. The platform handles stock scanners through a custom scanner tool, and it supports OCO (one-cancels-other) orders, trigger orders, batch orders, and stop orders with multiple routing options.
The minimum deposit to access SpeedTrader Pro is $10,000.
SpeedTrader ActiveWeb (Browser-Based)
ActiveWeb is an HTML5 browser-based platform that runs without downloading any software. It provides real-time Level 1 quote data (not Level 2), live streaming news, candlestick charting, options chains, watchlists, and account management tools. Direct access order routing is available through the browser interface.
The distinction from the desktop platform matters for traders who rely heavily on Level 2 to read order flow and make entry decisions. ActiveWeb is the lighter option, suited to traders who prioritize accessibility over maximum data depth.
The minimum deposit for ActiveWeb access is $2,500.
iSpeedTrader (Mobile)
The mobile app runs on iOS and Android. Unlike the browser platform, it delivers real-time Level 2 and Time and Sales data, which gives it more capability than the ActiveWeb platform for traders monitoring order flow away from a desk. The mobile app includes candlestick charting with multiple timeframes, options chains, a market viewer, and multiple order types. It is positioned as a companion to the desktop platform rather than a replacement for it.
Commissions and Pricing
SpeedTrader offers two commission structures: per-share and per-trade. Both are tiered based on monthly activity.
Per-Share Pricing
| Monthly Share Volume | Rate Per Share |
|---|---|
| 1 to 1,000,000 | $0.0025 |
| 1,000,001 to 5,000,000 | $0.0020 |
| 5,000,001 to 10,000,000 | $0.0015 |
| 10,000,001 to 25,000,000 | $0.0012 |
| 25,000,001+ | $0.0009 |
There is no minimum order fee on per-share trades. Maximum order size is 1,000,000 shares per limit order.
Per-Trade Pricing
| Monthly Trade Volume | Rate Per Trade |
|---|---|
| Under 200 | $4.49 |
| 201 to 500 | $3.95 |
| 501 to 3,000 | $2.95 |
| Over 3,000 | $2.49 |
| 10,000 or more | Call for rates |
Options Pricing
| Monthly Contracts | Rate Per Contract |
|---|---|
| 1 to 1,000 | $0.35 |
| 1,001 to 10,000 | $0.30 |
| 10,001 to 25,000 | $0.25 |
| 25,000+ | Call for rates |
Options trading is available through Axos Clearing only. A $1 minimum order fee applies.
Discounted commission rates are not applied automatically. Traders must contact SpeedTrader to request a rate change, and changes take effect 1 to 2 business days after the request. Rate changes are limited to once per month. Commission rebates are not issued for past activity. This means a trader cannot retroactively claim a lower tier after crossing a volume threshold.
SpeedTrader states it will match or beat any published rate from comparable direct access brokers.
Software Fees
Platform access is not always free. The fee structure for SpeedTrader Pro and the web platform is commission-dependent.
SpeedTrader Pro (Desktop)
| Monthly Commission Activity | Software Fee |
|---|---|
| $499 or more | $0/month |
| $199 to $498 | $75/month |
| Under $199 | $125/month |
ActiveWeb and Mobile
| Monthly Commission Activity | Software Fee |
|---|---|
| $199 or more | $0/month |
| Under $199 | $35/month |
For a trader running SpeedTrader Pro with light commission volume (say $150 in a given month) the $125 software fee represents a real cost that materially raises their effective breakeven. High-activity traders who generate $499 or more in monthly commissions pay nothing for the platform itself.
Data Fees
Market data is a separate charge. These are monthly fees charged per account.
| Data Package | Non-Pro User | Pro User |
|---|---|---|
| Level 1 Package (NASDAQ, NYSE, AMEX, Indices) | $15 | $125 |
| Level 2 Package (Regional + Indices) | $24 | $110 |
| Options Level 1 and 2 | $55 | $80 |
| PinkSheets/OTCBB Level 1 and 2 | $55 | $110 |
| NASDAQ TotalView (INET Book) | $25 | $105 |
| ARCA Book | $20 | $70 |
“Professional User” designation is determined by the exchanges, not SpeedTrader. Any trader registered or qualified with the SEC, CFTC, a state securities agency, or any exchange or association qualifies as a Pro User and pays significantly higher data fees. For most retail day traders, the Non-Pro rates apply.
Data fees begin on the day login credentials are sent. Fees are not prorated for partial months.
Account Fees
| Fee | Amount |
|---|---|
| Inactivity (under 15 trades per quarter) | $30/quarter |
| ACAT Outgoing Transfer | $75 |
| Domestic Wire (Outgoing) | $30 |
| International Wire | $75 |
| Forced Margin/Risk Sellout | $30 + commission |
| Option Exercise or Assignment | $30 |
| Paper Statement | $10/month |
| Paper Confirmation | $4/confirmation |
| ACH (Incoming/Outgoing) | Free |
| Electronic Statements and Confirmations | Free |
The inactivity fee is the most consequential item for occasional traders. Under 15 trades in a quarter triggers a $30 fee. That threshold is not difficult for an active day trader to clear, but it is meaningful for anyone considering SpeedTrader as a backup account or occasional-use broker.
Routing Fees
Routing fees are charged per share, on top of commissions. These vary by route and by whether the order adds or removes liquidity.
SpeedTrader provides over 40 routing options, including ECNs with rebates, direct market access routes, dark pools, market makers, smart routers, and sponsored access. Key routes include ARCA, BATS, BATSY, EDGA, EDGX, and NSDQ for listed stocks, and dedicated OTC routes for OTCBB and Pink Sheet stocks. Direct access routes (ARCAD, EDGAD, EDGXD) carry a fee of $0.0035 per share for taking liquidity, while some routes pay rebates of up to $0.0030 per share for adding liquidity.
Two free routes, LQSF and PDQF, are available during regular market hours with no routing fee in either direction.
Amounts in parentheses on the routing table represent fees charged to the account. Amounts without parentheses represent rebates credited to the account.
Minimum Deposits and Account Requirements
SpeedTrader accepts margin accounts and options accounts only. Cash accounts are not offered.
| Account Type / Situation | Minimum Deposit |
|---|---|
| ActiveWeb or Mobile (US accounts) | $2,500 |
| SpeedTrader Pro (US accounts) | $10,000 |
| Day trading (all accounts, US and foreign) | $30,000 |
The $30,000 minimum to day trade is a firm requirement, not a suggestion. Accounts that fall below this threshold face restrictions, and additional funds may be required to restore full access. This is separate from the standard FINRA Pattern Day Trader rule, which requires $25,000 in a margin account. SpeedTrader’s internal requirement is $5,000 higher.
Foreign clients are accepted from most countries, with a list of approximately 30 prohibited jurisdictions. Non-US accounts with less than $30,000 are directed to SpeedTrader International, a separate entity registered in New Zealand.
Short Locates
SpeedTrader integrates with 12 third-party locate services. Locate availability is visible directly within the SpeedTrader Pro/DAS Trader platform via the Level 2 montage. Stocks that are shortable display an “S” indicator in the upper-right corner of the montage.
Locate fees are quoted on the platform when requested and charged at the displayed rate. Overnight short positions incur a daily stock borrow fee, which is determined by the clearing firm and not known until the following day at the earliest. The borrow fee continues through settlement of the closing transaction and applies on weekends, holidays, and during trading halts.
The borrow fee calculation is: (closing price rounded up to next dollar) × (shares borrowed rounded up to nearest 100) × (borrow rate) ÷ 365.
For example, a short position of 150 shares in a stock closing at $32.01 with a 325% borrow rate results in a fee of $58.77 per day (calculated using 200 shares and $33/share).
This is not a trivial cost on high-borrow stocks. Traders holding short positions overnight need to account for it explicitly.
Direct Market Access
SpeedTrader describes itself as a true direct market access broker, distinguishing its routing from brokers that route orders through a third-party intermediary. Orders can be sent directly to NYSE ARCA, NASDAQ, CBOE, and other exchanges through DAS’s co-located infrastructure in exchange data centers.
Direct access is available for all three platform types: desktop, web, and mobile. Trading hours extend from 4am to 8pm ET across all platforms.
API Trading
API access is available through DAS Trader’s FIX/API infrastructure. Retail traders can connect via CMD or .NET. Institutional traders have access to C#, .NET, or FIX protocol connections. The API supports automated strategy execution, direct access routing, short locate requests, and high-frequency use cases. SpeedTrader notes the FIX API is co-located within exchange data centers.
What Traders Can Trade
Online trading at SpeedTrader covers US stocks and options. The platform also supports bonds and mutual funds, but those are not available online. They require working through the firm directly. OTC stocks (OTCBB and Pink Sheet securities) are supported through dedicated routing options.
MLP (Master Limited Partnership) stocks are restricted for non-US accounts due to regulatory and tax implications.
Bottom Line
SpeedTrader is a legitimate, purpose-built broker for active day traders. The platform depth is real: DAS Trader Pro with true direct access, 40+ routing options, 12 locate services, and a pricing model that rewards high volume with rates as low as $0.0009 per share. At that tier, it is difficult to find a cheaper direct access alternative. See Also: Best Direct Access Broker
The friction points are equally real. The $30,000 minimum to day trade is the highest in the direct access space and the no-cash-accounts policy means there is no lighter entry point. Platform fees for low-activity months can reach $125, and data fees add up quickly once Level 2, OTC data, and options data are included. Borrow fees on hard-to-borrow stocks are charged through settlement and on weekends, which is standard industry practice but still a cost center that less experienced short sellers underestimate.
For a high-frequency day trader who runs 200 or more trades per month, SpeedTrader is worth a serious look. For anyone trading more casually, the cost structure will work against them from the first month. If you are interested in a short selling broker with low fees and high short locate inventory, check our Best Broker for Short Selling article.
List of the Best Brokers for Day Trading:
Pros
- Per-share rates as low as $0.0009 for traders clearing 25 million+ shares per month
- True direct market access, not routed through a third-party intermediary
- 40+ routing options including ECNs, dark pools, and direct access exchange routes
- 12 third-party short locate services integrated within the platform
- SpeedTrader Pro is DAS Trader Pro are a proven, fast, hotkey-driven platform
- Extended trading hours from 4am to 8pm ET
- SIPC coverage plus Lloyd’s of London coverage up to $100 million for Axos accounts
- Free paper trading demo available
Cons
- $30,000 minimum deposit to day trade, $5,000 above the FINRA PDT threshold
- No cash accounts accepted, margin-only
- SpeedTrader Pro costs $125/month for traders generating under $199 in monthly commissions
- Rate tier adjustments are not automatic and must be requested manually
- Borrow fees on short positions are determined by the clearing firm and not disclosed until the following day
- Inactivity fee of $30/quarter kicks in if fewer than 15 trades are placed in the period
- Options trading restricted to Axos Clearing accounts only
Frequently Asked Questions
Is SpeedTrader legit?
SpeedTrader is a registered broker-dealer and a member of FINRA and SIPC. Accounts cleared through Axos Clearing carry additional insurance through Lloyd’s of London, with total per-client protection up to $100 million. The firm has been operating since the late 1990s and runs on DAS Trader Pro, an established platform used by direct access brokers across the industry.
What is the minimum deposit for SpeedTrader?
The minimum deposit depends on how you plan to trade. The ActiveWeb and mobile platforms require $2,500 to open an account. SpeedTrader Pro requires $10,000. To day trade in any account, US or foreign, the minimum is $30,000.
Last Updated: May 2026