I know this broker gets a lot of crap for being offshore and other things.
My question to those in the community that have used , are using or have recent personal experience with SureTrader:
Is it worth it to use the broker temporarily to grow a 1500$ account within a defined period of time to a defined goal to switch to a US broker?
It's hard to rely on just reviews. Some hate it Some love it. Most of them aren't all too recent...
My style is mostly long bias scalping (examples: $PIXY [not as big of a move] and $BIOC on 7.13.2018). Been trading for a year now (2 years paper trading before that).
Recently I find myself making consistently profitable trades, improving loss control and overall proving to myself that the strategy is working. But only being able to make one or two scalps per day with a cash account and having severely limited size with respect to my account is getting annoying. It's not that I want to overtrade, I just want to have all my soldiers ready to be deployed when an opportunity comes about. We all know that opportunities don't come when "you" can trade. They come when they come.
I feel I am learning a lot, but missing trades due to inability to trade or size in due to settling funds is getting "old" as I gain experience and comfort with the process.
I feel confident to say I am an intermediate trader with well defined rules, on the road to recuperate the "tuition" losses (1500 as of now) I suffered in the beginning year. I'd like to finally branch out of the beginner "trade less but observe on the sidelines" mentality and trade what I know I'm comfortable with whenever I want.
1.Would not use Margin. Ever.
2.I'd be able to dip my toes into short bias scalping too, with extreme caution as I've only been testing such strategies .
3. currently decent commission rates (similar to what I have now: 0.005/share, min 1.95$ with no routing fees) I trade normally with 150 to 350 shares depending on price. That means I'd pay 3.90$ for my round trip trades on average versus 10$ as I do now. So, saving 6$ or so per trade and making at least 16+ roundtrip trades per month which I easily do, that kind of pays for the software fees (104 - 120$ area currently).
4. no pdt but being offshore might complicate communication, risky etc. FATCA and tax laws may get weird also.
Considering my plan and understanding that it's temporary, would you consider it to be worth it? Or would your experience advise heavily against it? Is there something I am missing with how this broker operates that might screw me over?
Thanks in advance!!
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