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SureTrader Review

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Comments (61)
  1. JC says:

    Please be advised that it’s not free to call SureTrader from the US. I just looked at my cell phone bill and was charged $20.00 for two brief calls. I would recommend using their live chat or email support.

  2. Donna says:

    I heard that Sure Trader actually costs more than just $10.00 per trade, is that true? What type of additional fees are you paying?

    1. JC says:

      I’m paying right at $11 per round trip trade. ECN fees are extra based on the amount of shares traded. If you get caught up on how much everything is, it will keep you from trading. My goal is to make at least $30 per trade. That way, I’ll make at least $20 profit on each trade.

    2. Griffen says:

      Yea, I herd that they charge you every time they fill an order even if it is not complete. Like if you want 100 shares and they give you 10 shares at a time they will charge the $4.99 ten times. I’m not sure if that is true though, Just what I have herd.

      1. JC says:

        That’s never happened to me. If it ever does, I’ll just contact support and have them fix the billing issue. When you open a ticket with Sure Trader, you hear back from them quickly. I wouldn’t even worry about some rumor like this. I signed up with Sure Trader and haven’t looked back. So far so good..

  3. Roy Harris says:

    SureTrader is great and don’t listen to rumors. Their support is excellent now and fees say 4.95 up to 1000 but just chat support and ask to change and they give you 4.95 up to 10000 shares and .00045 after per share. That and no PDT is hands down suretrader for small accts and bonus nice platform and 6:1 intraday leverage. A+

  4. JC says:

    The fees for a round trip trade of 100 shares come out to $10.52. The breakdown is $9.90 in commission fees and .62 cents in ECN, SEC and NASD Fees. ECN Fees are the most.

    A round trip trade of 1800 shares would cost roughly $21.00. Anything more than 1800 shares would begin to cost more than E*Trade, who charges a flat $20 fee regardless of the share size.

    For someone with a small account who wants to practice trading 100 to 1000 shares at a time, SureTrader is perfect! I’m nowhere close to trading 1800 shares at once. When that day comes, hopefully I’ll be making money and wont care about extra fees.

    SureTrader has done good by me. They’re the only broker that caters to small account holders. Without them I wouldn’t be trading. That’s the truth. I think if they added a US Toll Free number for customer service and somehow lowered their additional fees, they’d be nearly perfect.

  5. Jake says:

    I am having a hard time comprehending that 2:1 overnight margin rule. Even though, I looked up the words. What does it mean? Can you explain it in easier terms?

    1. JC says:

      Essentially SureTrader doesn’t want people using more than 2:1 margin overnight. Starting at 3:30pm each day, their risk management department begins the process of closing traders out of trades that exceed 2:1 margin. Because I have a small account, the trade I was in the other day exceeded 2:1. Without notice, 70 of the 100 shares I had purchased were bought back using a Market Order.

      Moral of the story. Even though SureTrader advertises 6:1 margin, they only want you using it during the trading day. Those who get caught after 3:30pm are removed from their trade and fined $55.00. There is a lot that can happen after hours. If you’re in a stock with 6:1 leverage overnight and the stock drops $5.00 to $10.00, you’d be completely screwed! The 2:1 overnight margin rule is in place to protect everyone.

  6. Jake says:

    Thank you for the explanation.

  7. Zach says:

    Do you know if there is a way to check what stocks suretrader has available to short before opening up an account with them? I already have another brokerage account and wanted to open one with suretrader just for shorting, but I don’t want to go through the hassle if they more often than not don’t have stocks I want to short.

    1. JC says:

      SureTrader allows you to short any stock as long as it doesn’t have a short sell restriction in place. Typically stocks that are hard to short are either all bought up, or the SSR is in effect. You can reach out to SureTrader through chat each morning to reserve shares if they’re available. I’ve been using SureTrader for about 4 months. I’ve never had a problem shorting the stocks that were in play.

  8. jake says:

    Terrible place to trade! Platform has so many glitches, you place a limit order, it executes at market. If you call customer support, they tell you its your problem and you take the risk to make these trades, so you are responsible for any loss you incur. How they keep customers, i am shocked. To get a response takes forever and they are very rude. Fees are through the roof and they will add on hidden charges and say oh that was included in the price and you wont be able to do anything to get those fees back. STAY AWAY!

    1. JC says:

      Jake, what broker would you recommend for traders that are just starting out and/or those with small accounts?

      SureTrader offers..

      1. No PST rules
      2. 6:1 leverage on $500
      3. No waiting for money to settle after a trade

      I still think SureTrader is the best broker for new traders. If you’re serious about trading, you have to take the good with the bad. I wish the Interview with Guy Gentile from the Tandem Trader DVD would be made public. SureTrader was designed from the ground up to accommodate traders who are just starting out.

      The paid platform that SureTrader offers is DasPro. I find it highly unlikely that DasPro is full of glitches as you mentioned. You must be referring to their web based platform. As for the hidden fees, what are you referring to? As shown above, it costs $4.95 to buy, then $4.95 to sell. You are also charged ECN fees but that is clearly advertised on their site.

      I’m not trying to be mean, but it sounds like you lost a trade or two and you’re looking to blame someone else. SureTrader and all of the other brokers out there are not in this to be your friend. They’re trying to make money. If a broker gave into every customer complaint, they’d go out of business..

      I still believe that SureTrader is the best broker for those with accounts under $5,000.

  9. J B says:

    Haven t been able to fund an E-trade account to trade options…i need any broker that allows me to trade a few options a week…nothing to serious…so don t like your horror story but i plan to keep it pretty simple for now…I think E-trade is pretty sketchy sometimes as well! Think you nailed it pros-cons in every broker

  10. Joe Sato says:

    Have you had any problems with Sure Trade, trading in pre-market hours? About to open an account with them myself. thanks

    1. JC says:

      I haven’t experienced any trouble at all trading before the market opens. When you open an account, you’ll have to jump through a few hoops. In the end it will be worth it.

      1. jesse3398 says:

        What headaches are you experiencing in withdrawing your funds and how long does it take before it reaches your account?

        1. JC says:

          I’m able to transfer funds directly into my checking account. The last withdraw I did took 3 days for the money to be available. SureTrader allows you to easily add or withdraw money from your account at anytime. SureTrader is awesome for those with small accounts who want to trade without limits.

  11. JC says:

    To be more effective, I have to start spending money on better trader tools. Last night I signed up for the $49/mo SureTrader Desktop Application. Essentially its a branded version of DASPro.

    The $49/mo version works great, but its limited. To add the Level II indicator to the SureTrader Desktop program, you have to also subscribe to Market Depth Data Access and Regional Quotes (Basic Level 2). That adds an additional $55.00 and brings the grand total monthly fee to $104.00.

    So far I’ve been impressed by the DASPro software. I really like the Top List scanner. By default it gives you a list of the following scans.

    Most Active
    Highest Gainers
    Biggest Losers

    The list of stocks is updated in real-time as the trading day progresses. I could essentially replace parts of TC2000 with this built in and ready to go scanner.

    TC2000 is $90 per month and doesn’t have Level II or tie-in with my trading account. I think I’ve found my new trading platform.

  12. JC says:

    Something that goes unnoticed is the way SureTrader settles money back into your account after a trade. With E*Trade, I had my account restricted because I traded again before my last trade settled. No warning either. They still let me trade, even though I wasn’t suppose to.

    I believe with most brokers, you have to wait a day or more for your most recent trade to be processed. During that time, the equity you had tied up in that trade cannot be used until the funds have settled. I remember waiting 3 days on average for money to be moved around in my previous broker account. It was frustrating.

    SureTrader doesn’t make you wait. As soon as you close out of a trade, your funds are available immediately so you can continue trading.

    SureTrader was designed from the ground up to accommodate small account holders. If you’re skeptical about using them, I’d say open a small account ($500), and place a few trades with them. Compare the features with who you’re using now.

    For me, I’ve found their benefits far out weigh their short-comings.

    1. troyk says:

      JC….I just opened an account with $5k and will start trading next week when they say funds available. If i buy 5500 shares of a stock @ $3.35 share using 6x margin and i sell @ $3.36 to scalp a $.01, what fees do I encounter with Suretrader to calculate my net trade profit?

      1. JC says:

        I would not recommend using SureTrader for large trades. For people who trade more than 2000 shares, it may be best to use a broker that offers flat rates. SureTrader has a lot of great benefits, 6x margin is one of them. The only drawback for me has to do with ECN fees and no ECN rebates. It costs me around $10.52 in total commission/ECN fees to buy and sell 100 shares of stock.

  13. Jake says:

    Hello JC,

    After reading your blog and your review, I decided to sign up for Suretrader. However, I am having some troubles with the sign up process. What do I put for professional references? What if I dont have one? Also, what do I put for Average size per trade and risk tolerance? In addition, what stuff do I upload?

    BTW I love your blog!

    Thank you.

    1. JC says:

      These are all questions you’ll need to ask SureTrader. Checkout their Chat Support. I’m sure they’ll be able to answer all of your questions.

  14. Brandon says:

    What is the best way to transfer money to the suretrader account? I don’t want to do it thru my debit card as they take a 3.5% fee for that, which is hundreds of dollars for me. Is a wire transfer the best method?

    1. JC says:

      That sounds like a good question for SureTrader. << Click on the link to visit their website. In the top right corner, click on Live Chat. Don't worry about entering an account number. Under Department, select New Client Inquires. Live Support is generally available right away.

  15. fabiobs says:

    Hello JC , did you had any problems with the withdrawal? Do yo know how does the skrill system works?

    1. JC says:

      Withdraws are a breeze, just contact chat support to setup a bank wire transfer. Skrill is a payment processing company kind of like PayPal. Sure Trader allows potential customers to ask questions through chat. Try it out if you have further questions about deposits or withdraws.

  16. hillman says:

    Thanks for the in-depth review. I currently have an account with Scottrade, but I’m considering setting up a day trading account with Suretrader. The main complaint I’ve seen with Suretrader is that limit orders are often executed as market orders. That could be major problem with fast-paced trading for a quick profit. Have you encountered this issue at all? The other complaint I’ve seen is with money getting lost in transfer, but Suretrader sorts it out eventually (even if takes a month or two). I think people complaining about fees are often trading mass amounts of shares in penny stocks. Suretrader’s fees seem reasonable with smaller trades, especially under 1000 shares. My biggest concern is with limit orders executing at market though.

    1. JC says:

      I’ve been using SureTrader for several months now. I’ve yet to run into any type of issue with order types or misappropriated funds. From time to time I receive complaints about SureTrader that I don’t post simply because people are looking for someone/something to blame for their poor trading abilities. To say SureTrader runs limit orders as market orders is crazy. When I setup a limit order, it either gets filled at the price I’m willing to pay, or it doesn’t get filled at all. There is no such thing as the perfect broker. For me, SureTrader is the closest thing to that.

      1. troyk says:

        So you are telling us that if i buy 6x on a trade with $5,000 acct. How would my ECN fees be calculated. Are there ECN fees on every stock buy and sell?

        1. JC says:

          Yes they offer 6x margin as long as you have $500 in your account. Once you get to about 1800 shares, you’re charge around $20.00 for the round trip. When trading more than 1800 shares, it may be best to use E*Trade or another broker that uses flat rates. Each time you buy and sell you will be charge ECN fees with SureTrader.

  17. miru1451 says:

    Great info! Glad to see the post on: no settling time. Thats huge. Thanks for the posts.

  18. russellkbrett says:

    Hi JC,

    Do you have any idea how I can even access the cost basis of my trades as well as commission fees charged on SureTrader? There is no section where I can access it either on the DAS Pro or Active Web platform and the “Order Status” and “Activity” under the “Account” menu only shows the most recent trades and does not show the total cost basis or commissions charged on any of my past trades.

    I see a few comments from SureTrader users talking about how much commission they were charged or how their orders were broken up to incur multiple commissions but I can’t even access that information on their platform.

    Although I’m new to this platform, I have used many others including ETrade, Scottrade, TD and Interactive Brokers and I gotta say, other than the No PDT rule for US customers, the SureTrader Active Web platform is very sparse. Only shows me the realized / unrealized profits for the day and the dollar value of current equity positions I’m holding. It will not show me my total trade history beyond what I traded that day nor will it show me the cost basis of each trade I made or commissions charged on them (unless I’m missing something?).

    Also one thing I should note to new users thinking of signing up is that there is a $50 Inactivity Fee charge if you make less than 15 trades per Quarter (this can add up if you stop trading on the platform for awhile and leave the account open.

    Thanks for the blog. Some very useful info here. Good luck in your future trades!

    1. JC says:

      I use the iBoss website to track my SureTrader P&L and trading charges. https://www.ibosstrading.com/Login.aspx This website shows me all account activity.

      I downloaded a new audiobook last night on audible.com called “Trading For a Living”. In the very first chapter they go over broker fees and slippage due to market orders. I highly recommend this audiobook. It’s helped me to get a better understanding of how and why broker fees matter.

      SureTrader’s web platform very limited. If you have the means, I would suggest using the SureTrader Desktop platform. It’s around $100+/mo but worth it.

  19. theflash says:

    Personally I have a sure trader account and overall it’s pretty good but my only complaints are..
    1)sign up process was annoying it took me about 10days from start of application to fully funded
    2)Can’t ever seem to find my commission fees till the end of the day so I have to keep track of my trades
    3)If you have an overnight losing play and sell out in the morning it’ll put your buying power at a negative and will not allow you to trade for the day
    4) lastly there Das website always logs you out every 5min which sucks when you trying to sell your shares..

    1. JC says:

      Sorry to hear about the trouble you’ve experienced. The signup process for me was a breeze. I filled out the form, sent it in then added money to my account. Your commission fees are listed on the iBoss website. You’ll find a link to iBoss under Account Login on the SureTrader.com homepage. Contact their chat support if you dont know your user/pass. As for the overnight buying power, a small account holder may run into situations like this until their account grows. You may want to switch web browsers if you’re being logged out of the ActiveWeb online platform. That shouldn’t be happening. Generally when I log into ActiveWeb, it stays active all day.

      Unless you’re a swing trader, its usually best to not hold anything overnight. As a day trader, if the play doesn’t pan out, you gotta take your loss or double your position lower in hopes of averaging out. I’ve reviewed a few trading Gurus in the Reviews section on this website, check out MOJO.

  20. maumejia says:

    I´m based in Colombia and i´m looking a Broker to open an account for Non-US residents, does Suretrader allow Non-US residents for opening accounts ?

  21. stratmansblues says:

    Did you have any trouble at tax time with documents from Suretrader? Are you still using Suretrader? Thanks in advance.

    1. JC says:

      SureTrader is a normal broker, just like eTrade and all the others. Print off the tax forms from the iBoss website and take them to your Accountant.

      1. K says:

        Under which tabs are the tax forms located? I can’t find them.

        1. JC says:

          Please read our Disclaimer. This website does not provide tax advice. I would strongly recommend that you start using an Accountant instead of H&R Block. It costs about the same! Only a CPA should be helping you navigate tax information on a brokerage website. I find it hard to believe that SureTrader was simply unable to help you. Next time you reach out to SureTrader, make sure they provide you with a solution before you let them go. Ask for a manager if you cant get the answers you’re looking.

  22. MClarksn9 says:

    So I want to trade stock between 20 – 200$ 2000 shares per side. I am thinking of going with sure trader due to the 6:1 leverage as I “only” have 50k to open my account. I tested my strategy for almost 6 months by buying the das platform subscription. Do you think sure trader is a good fit for me since I’m not doing penny stocks

    1. JC says:

      I’d recommend opening a small account and trading with them for a week or two. If you’re OK with the fees and platform continue using them. Good traders withdraw their winnings on a weekly or monthly basis. The $40 withdraw charge isn’t much if you’re a good trader and win most of the time.

  23. Phil says:

    I’m just about to fund my sure trader account, and finally start trading (after studying for 12 months) I know that the pro platform is $49 and this doesn’t come with level 2, but if I subscribe to the market depth data for $55 , will this give me level 2 data for Nasdaq, OTCBB and pink sheets???

    1. JC says:

      It’s around $105/mo if you add NASDAQ and NYSE level 2 data. There is an additional charge on top of that to add OTC/Pink Sheet data. Thats pretty typically with all brokers. I believe the OTC/Pink stock market owners charge the broker for each user accessing the data. I’m not sure if theres a way around the extra fee. https://suretrader.com/trading-fees/software-fees/

  24. Tosin says:

    Nice Information so far. JC do you offer trading lesson?

    1. JC says:

      No but you can find me at freetraderchat.com after January 1st.

  25. Kesh says:

    JC,
    Great article! I’ve been thinking about opening up an ST account for some time now but been so hesitant because of all the negatives I’ve heard and the fact that it’s off shore.
    I do have a question for you though, being that it’s the end of 2015…I’m going to open up my ST account once 2016 rolls in for tax purposes.
    Does ST provide the FATCA form with the correct numbers and everything you need to turn into the IRS or is that something you have to do on your own?

  26. Jason says:

    What does it mean when the Buying Power is negative? Ive made several trades today and only 2 I had small losses on ($100ish), does it take overnight to clear the trades for gains/losses and will my buy power be reset the next day??

    1. JC says:

      Yes, the buying power will reset at the end of the day.

  27. Kamal says:

    What do you need to file taxes for Suretrader?

    1. Kamal says:

      What exactly do I have to print out from the iBoss site?

      1. JC says:

        Have you tried the Sure Trader live chat customer service? It opens around 9:00am. They’re usually available within a minute or two to answer questions like this. Just go to the Sure Trader website and click on Live Help in the top right corner.

        1. Kamal says:

          I did. All they said was to print out the page that shows P/L. I would think you need an actual tax form that other brokerages give you at the end of the year.

  28. Michael says:

    Great information so far. I’d like to ask what purchases are necessary in order to sign up for Suretrader? I currently get by great using TC2000/Yahoo Finance and have no intention of signing up for another subscription. Does Suretrader expect and/or make it mandatory for me to sign up for any subscriptions? (my intent is to open a second account to increase the number of day trades allowed)

    Thanks for your help!

    1. JC says:

      No subscription fees. Pay only when you trade. You can use their website to place your trades at no additional cost.

  29. EJ says:

    So it’s been over 2 years since this post, how have you done overall using SureTrader?

    1. JC Trades says:

      Their service hasn’t changed. Everything mentioned in the article still stands today.

      1. EJ says:

        I should have been more clear, I was asking about *you*. Over two years later regarding: “The plan for me is to use SureTrader until I reach a sufficient amount of money.” Supposedly 95% of people who sign up for ST are unable to do this, for various reasons, thus the popularity of the youtube vids regarding grinding up a small account. I was wondering if you worked it out.

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