Hey everyone I'm new to trading and only have about $5,000 In Capital. Could anyone list off a decent broker besides Suretrader. I know they have an account minimum of $500 but I only hear horrible things about their executions. Any input would be greatly appreciated. Thank you
-Jacob
@intna89 Yeah its 99/month. You'll have to make atleast 30trades/quarter or there is some minimum amount you need to keep in your account, if you want it for free.
SureTrader isn't as bad, good borrows, leverage, and no PDT rule, executions are fast, cons comissions are too high, but is the only alternative to accounts under PDT .
The best way i have found to deal with Suretrader commissions and fees is to nickle and dime them the way they nickle and dime us. Trae under 500 shares and don't overtrade. If it's possible hold that trade. They charge by number of shares not by how much you make, but correct me if i'm wrong. The more you trade with them you open the door for them to dip into your cash. watch iboss statements closely to catch any descrepincies and notify them immediately (if you can- LOL).
also, they will take a percentage of anything leaving their hands (wires, ach, credit cards, etc) so to avoid these fees, ask your reputable broker like TD to request transferr of funds from Suretrader, they can even transfer any open trades too. Check with your broker to see if they do charge for this service and decide which option is best for you.
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