I am about to create a sure trader account and am just trying to see if anyone knows some of the pros and cons of this brokerage?
I am about to create a sure trader account and am just trying to see if anyone knows some of the pros and cons of this brokerage?
CONS: Very hard to fund and make withdrawals. Customer service is by far the worst out there. PROS: NO enforced PDT rule or 2.50 rule
only real pro of this broker is the fact that you can make as many trades as you want with no penalty. You also get 6 to 1 margin leverage which is obviously dangerous. Basically this broker is only good to reel in overzealous small account holders because of the perks. Just dont screw yourself with the margin just because it sounds nice. Oh yea, hard to get fundes and customer service is very slow and downright awful actually. Overall, not worth it.
Two key setbacks were executions and fees. The executions were not as good as eTrade. I would attempt to by $800 worth of stock and an error message would come up, "you do not have enough purchasing power". The fees amount to $20 per trade once you factor in the lquidity fees. There is an account inactivity fee for less than 15 trades a quarter. Tim recommends eTrade and I could see why from day 1.
Join now or log in to leave a comment