Today, I have great news for you. SureTrader recently changed their pricing structure. The SureTrader Fees are even more competitive now. My final verdict of the SureTrader review was already decent, and now there is an additional argument to open an account with SureTrader.
On top of that, traders who open an account with at least $1,000 qualify for ten commission-free trades.
But let's do one step by the other talking about the SureTrader fees in general, the trading platform and the features.
This SureTrader review also contains the answers to the most frequently asked questions new users have.
Did you know, SureTrader offered one of the best free paper trading accounts available. But things changed overnight in November 2019. Go on reading the SureTrader review to learn more about it.
Transparency: When you buy certain products from some of the sites we link to, we may earn a small share of the revenue.
SureTrader is closed now. So what is a good alternative to SureTrader?
TopstepTrader: Funded Trading Account, zero commissions, 20% discount for daytradingz.com readers at checkout.
SureTrader was established in 2008 and part of MintBroker International, Ltd - regulated by the Securities Commission of the Bahamas.
With 20,000 clients and more than 12,000 trades per day, SureTrader offers its clients competitive pricing and services.
Brokers located in the United States require a minimum deposit of US$ 25,000 to allow their clients day trading because of the pattern day trader rule.
SureTrader is located outside the United States, and the minimum deposit is only $500. I also reviewed TradeZero, and as the TradeZero Review reveals, they also offer day trading with less than $25,000.
There are no limitations regarding the trade frequency, and SureTrader also allows to trade with a leverage of 6 times your capital.
For example, with $1,000 in your account, you can trade equities worth up to $6,000 intraday.
But if you are an U.S.-resident, then SureTrader is not the best option for you. There are just too many legal hurdles for U.S.-residents.
If you are an U.S.-resident and you like to day trade, then it might be a smart alternative for you to start without any capital by trading a funded trader program. The best ones can be found in the best trading course section.
Keep reading the SureTrader Review to find out more about this online broker and their services.
Update 10/2019: For unknown reasons, SureTrader closed its doors at the beginning of November 2019. There is a lot of speculation about why this happened. This was firmly after the suspension mentioned below.
Based on my research, the closing process went smoothly. Existing clients had the opportunity to either move the account to another broker or to request a bank transfer.
Update 09/2019: September 21st, 2019, SureTrader informed clients that the Securities Commission of The Bahamas suspended their license temporary.
On September 24th, 2019, the SureTraders management team informed clients that suspension had been lifted, and trading has resumed.
The pictures above where taken from SureTraders official Twitter account.
Trading Platforms and Tools
SureTraders trading software allows traders to view real-time market data - Level 1 and Level 2 of the order book.
Multiple charting features and advanced order types are also available to respond quickly to events and news in the market.
With pre-market trading and post-market trading, investors may react immediately even outside the regular trading hours.
SureTrader clients may choose from three different trading platforms:
- SureTrader Active Web
- SureTrader Desktop aka SureTrader Pro
- SureTrader Mobile
SureTrader Active Web
There is no monthly platform fee, and free real-time market data is included as well (Level 1 Nasdaq and Level 1 NYSE + AMEX Data).
Since SureTrader Active Web is 100% web-based, traders can use it everywhere and have access to streaming real-time data.
The web-based platform has been created for day traders who need to place their orders with not trading platform costs attached.
With real-time quotes and streaming new provided for free, traders may also use the watch list and the charting feature.
However, as a day trader, you need a trading tool since functionalities of web-based platforms are always limited.
That leads us to SureTraders premium trading software - SureTrader Desktop, also know as SureTrader Pro.
SureTrader Desktop | SureTrader Pro
Traders who need more functionality and wider customization options, charting capabilities, and market depth may opt for SureTrader Desktop / SureTrader Pro.
With SureTrader Pro, traders can trade via point-and-click and place their orders even faster.
- Charting with Trading Indicators
- Quote- and Top Lists
- Real-Time P&L
- News Feed
- Times & Sales
- Level 2 Data
- Option Chains
SureTrader Pro costs $49 per month. Access to the mobile app for iOS and Android is included in this price.
Also exchange fees for Level 1 Nasdaq, Amex and NYSE are included. Level 2 market depth data costs another $40 base fee plus exchange fees.
Today, every trader has a mobile device and now can use the SureTrader App.
SureTrader provides a convenient solution for day traders to watch their account status and allowing them to receive quotes directly on their mobile devices.
But that's not all.
Traders may also place their orders by using the mobile app. At the moment, the SureTrader App is available for iOS via AppStore/iTunes.
Traders who want to use SureTrader Mobile only, pay a monthly fee of US$ 35.
Customers who have already subscribed to SureTrader Desktop/Pro may use SureTrader Mobile for free along with their SureTrader Desktop/Pro subscription.
SureTrader Review: Tradable Markets
With SureTrader, both U.S. shares and U.S. options can be traded. Other markets are not available. Let's continue with the SureTrader review by taking a closer look at the SureTrader fees and commissions.
SureTrader Commissions and Fees
The trade rates of this online broker are very competitive.
When compared with other brokers, SureTrader helps private investors to avoid paying too much in trade fees.
Remember, every dollar paid for trading fees is a dollar that must be compensated by better performance.
SureTrader offers a rate per share traded of $0.005 per share with a minimum of $1.95.
This is great since SureTrader reduced the minimum amount per trade from $4.95 to $1.95 just a few months ago. Anyway, if you are an options trader, then you should not go with SureTrader. The minimum fee per trade is still $4.95, plus 50 cents per contract.
That's too expensive! Options traders should consider going with thinksorswim by TD Ameritrade, or Tastyworks. As the tastyworks review reveals, options trading is especially beneficial for high volume options traders. Trading options lots of 10+ contracts makes tastyworks the cheapest options broker in the United States.
Are you looking for SureTrader hidden fees?
Some miscellaneous fees may apply. Traders pay $40 for every withdrawal. There is also a quarterly $50 inactivity fee for traders with less than 15 trades per quarter.
If the traders use the margin to day trade and also if they hold their positions overnight, additional fees apply.
Interesting wise, with the new commission model, SureTrader waived the rooting fees too.
Please, find the SureTrader platform fees in the trading platform section above.
Education and Research
Unlike large U.S. brokers, SureTrader does not provide extensive training material. This way, the low fee structure can be maintained.
Some basic information is available in the Knowledge Hub. Besides, the blog regularly features new writings.
SureTrader can be reached in the following ways:
- United States: 1-718-412-1256
- United Kingdom: +44 (020) 3290-2477
- Australia: +61 (02) 8091-2896
Telephone | Fax
- Office Phone: +1 242-603-8600
- USA (Direct): +1 718-247-9939
- Canada (Direct): +1 437-886-9118
- Voice Mail: +1 204-480-4812
- Fax: +1 204-480-4812
Support is also available via the contact form and chat on the SureTrader website.
- MintBroker International Ltd.
- Elizabeth on Bay Plaza Bay Street, Suite 17
- P.O. Box N8340
- Nassau, Bahamas.
SureTrader Review Summary
There are not that many opportunities for traders around the world today trade U.S. stocks intensively with less than US$ 25,000 of capital.
SureTrader allows traders to open an account with a US$ 500 minimum deposit to trade with high leverage of 1:6 intraday (e.g., $500*6=$3,000 buying power).
Traders with more than $25,000 of liquid assets should preferably go with a stock-exchange listed discount brokerage like Centerpoint Securities, or Interactive Brokers. While conduction the Centerpoint Securities Review, it became clear that it is only for experienced traders, but their shorting list is impressive.
Also, options traders should look elsewhere. An excellent option broker is tastyworks. Tastyworks offers the lowest commissions for high volume options traders, along with an outstanding platform.
Lastly, U.S.-residents may consider trading within a funded trading account instead.
But for those who are living outside the United States, having less than $25,000 of liquid capital and who like to trade US-listed stocks, SureTrader is an excellent alternative to traditional brokerages and can be considered at the best day trading platform in this niche.
As I lined out in the SureTrader review, a minimum deposit of $500 is excellent compared to other brokers, and the platform fee of $49 is fair priced.
Along with the ability to use SureTrader as paper trading similar and the bonus of 10 free trades for new customers, SureTraders offers nearly everything that beginners are looking for.
You should keep in mind that there are high fees to withdraw the money from your SureTrader account. That's because SureTrader is located in Nassau, Bahamas.
SureTraders Pros and Cons
- Transparent pricing, 0.5 Cent per share ($1.95 minimum per trade).
- Licensed Broker (by The Securities Commission of the Bahamas)
- Regulated Broker (by The Central Bank of Bahamas)
- 6:1 leverage intraday and 2:1 leverage overnight for most securities
- No pattern day trading limitations
- Free 100k demo account being available
- More than 10,000 Stocks being shortable
- $500 minimum deposit to open a new account
- 10 free trades for new customers
- Inactivity Fee of $50 for accounts with less than 15 trades per quarter
- Transaction Fee for outgoing funds $40
- Tricky for U.S.-residents
Frequently Asked Questions
Is there a free SureTrader Demo available?
The Free SureTrader Demo (with 100k paper money) can be found here.
Is SureTrader Safe?
The company behind SureTrader is MintBroker International, Ltd. Liability is up to $1,000,000
Can I Short Stocks in My Account?
Yes, more than 10,000 stocks are shortable at SureTrader.
Is There an Automatic Charge for Margin Calls?
The automatic charge for margin calls amounts to US$25.
Can I Use SureTrader PRO on a Mac?
It is possible to use the SureTrader Pro software on a Mac. All you need is Parallels Desktop or similar software.
Will I Be Able to Trade Pink Sheets, Penny Stocks or OTCBB?
Yes, indeed, at SureTrader you'll be able to do this.
Where Do I Find the SureTrader Login?
The SureTrader login is available here: https://sure.dastrader.mobi/
Here you can log in to your account manager: https://accounts.suretrader.com/
Is there a SureTrader Mobile App available?
Yes, SureTrader offers a SureTrader mobile App.
Are There Any Hidden Fees When I Open an Account with SureTrader?
All SureTrader fees are published on their website. Use the navigation at the bottom of the website to find all kinds of fees being related to SureTrader.
Is There Any SureTrader Demo Being Available?
Yes, there is a 100k demo being available on their website https://www.suretrader.com/
Does SureTrader Offer Live Chat Options for Their Customers?
Yes, SureTrader offers this great customer friendly service feature to their clients and interested traders.
Are There Any SureTrader ECN-Fees?
The new SureTrader Commission Rates offer ZERO Routing / ECN-Fees NOW.
What Is the SureTrader Account Minimum?
The SureTrader account minimum is $500.
Is SureTrader Legal for U.S. Citizens?
U.S. residents can open an account, but to make it possible to open an account, the traders have to provide additional paperwork to SureTrader. A Funded Trader Program might be a good alternative.
SureTrader was an attractive choice for traders looking for a smart way to avoid the pattern day trader rule.