Established in 1999, SpeedTrader is a direct-market-access online broker, primarily for active day-traders. The broker offers competitive commissions for trading stocks, bonds, mutual funds, and options online. They provide their clients with flexible and powerful trading platforms and a selection of useful trading tools to choose from.
SpeedTrader is part of the Mint Global Markets, which is a New York-based online stock broker that specializes in online trading services.
SpeedTrader Review Introduction
In this SpeedTrader review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
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SpeedTrader Platforms & Tools
SpeedTrader provides traders with a vast choice of powerful and state-of-the-art trading platforms. The platforms are designed for those who trade frequently and thus need an efficient and reliable trading environment. The platforms include:
SpeedTrader Pro is fully customizable, has advanced charting, direct market access, account management, and other important features. It is available as a desktop application for Windows and Mac computers.
SpeedTrader ActiveWeb is built on the HTML5 web platform; it runs directly in most modern web browsers, such as Chrome, Safari, Firefox, and Edge.
iSPEEDTRADER is a mobile platform, which helps traders to access their accounts on the move. It features candlestick, advanced, and Options chartings, real-time level 2 quotes, and much more. It can be downloaded from the broker’s website.
The Takion platform has advanced charting and direct market access routing amongst other features. It also provides API access to traders.
SpeedTrader Research & Education
The broker provides clients with a good selection of educational resources to help them reach their full potential. They include day-trading webinars, educational articles, and video tutorials on how to use SpeedTrader’s various platforms and software.
SpeedTrader Trading Accounts
SpeedTrader accepts applications for Margin and Option accounts only – no cash. The minimum required deposit to open and maintain the Margin account is $25,000, whereas the minimum required to open a day-trading Account is $30,000. Clients can choose between per-share and per-trade pricing models, with competitive commission rates.
SpeedTrader Account Funding
SpeedTrader’s clients can fund their accounts via wire transfer or ACH. You can also transfer your account from another broker, this is done by filling the Account Transfer Form (ACAT) for listed securities and sending them a copy of your last brokerage statement. Some fees may be charged when using certain payment methods, while the transaction processing time depends on the payment used.
SpeedTrader Customer Service
The broker provides a customer support team to ensure that client’s trading needs are met promptly and efficiently. They can be reached via email, online chat, and telephone, and they are available from Monday to Thursday: 8 AM – 5 PM EST, Friday: 8 AM – 4:30 PM EST.
Mint Global Markets Inc. (“Mint Global”) conducts business under the name SpeedTrader. Mint Global is a member of the Financial Industry Regulatory Authority (FINRA), which is an independent body that regulates its member brokers and exchange markets in the United States.
SpeedTrader Review Summary
SpeedTrader is a regulated US broker with a good selection of powerful and advanced premium trading platforms. They also provide traders with useful trading tools, as well as educational materials.
It is worth mentioning that some of the trading products and services in this SpeedTrader review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the SpeedTrader broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.