Suretrader

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

Warrior Trading Blog

  • Ross Cameron
  • Broker Review
  • Reviews

SureTrader is Closing its Doors

In case you haven’t heard, SureTrader is closing down. Check out this article for everything you need to know!

Recent Posts

Webull Review 2020 | Better Than Robinhood?

  • Aug 1, 2020
  • Pat Crawley
  • Broker Review
  • Reviews

Value For Investors Value For Active Traders Commissions & Fees Platform & Tools Customer Service Order Execution 4.8 Summary Quick Review: Webull is a stock trading mobile app that offers a commission-free trading platform. They offer intuitive stock charts with plenty of technical indicators and tools for customizing your charts. They are SIPC insured and […]

Top 5 Best Online Stock Brokers for 2020

  • Apr 15, 2020
  • Sean
  • Broker, Broker Review, Day Trading
  • Reviews

Table of contents Best for Active Traders Best for Cheapest Commissions Best for Trading Platform/Technology Best for International Trading Best for Small Accounts Technological improvements in investment and financial tools give investors a wide array of options such as online stock trading. Whether you are an experienced investor who needs to follow a certain investment strategy or […]

CenterPoint Securities Review 2020: What We Do and Don’t Like

  • Feb 14, 2020
  • Sean
  • Broker Review
  • Reviews

Value For Investors Value For Active Traders Commissions & Fees Platform & Tools Customer Service Order Execution 4.8 CenterPoint Securities is a stockbroker that was created with the sophisticated trader in mind that also charges highly competitive pricing and brokerage fees compared with other brokers. They are well known for being able to lend to […]

Sterling Trader Pro Review 2020

  • Dec 3, 2020
  • Ross Cameron
  • Broker Review
  • Reviews

Value For Investors Value For Active Traders Reliability Commissions & Fees Order Execution Platform & Tools 4.6 Summary Overall Sterling Trader is a great platform that links to some of my favorite brokers. I am really impressed with quality of their platform and would definitely recommend it. Sterling Trading Tech is a software company that […]

13 Comments

ALEX

Which one is currently the best one for a new trader who is a US resident, starting with $1000 and wants margin the benefits of margin suretrader had to offer?

John

Hi Ross, even though an opinion it is true. Sure trader are remarkably more expensive for the what they provide. they charge for depositing, withdrawing and sitting still. I have regretfully opened a 10K account which coat $350 in fees and now is going to cost $350 to close it. Being an overseas trader I am limited. I am looking to move my trading with TRADEZERO. people do not like being ripped-off. This is not just my opinion it is my experience with them they do lack professionalism is customer service as well, that’s another story.
You were very generous in the 3 star rating you gave them.

luke

Hi ross, which broker is available for non-us residence?
Thanks!

Jeff

Ton

Interactive Brokers allows smaller orders size. It means that by executing Your order in 2 tranches, each just 1 tick below the other, Your average price improves by $0.005, resulting in a commission free order.

Anton Steyn

Hi Ross
Could you please update your table above to include Trade Zero

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

Randy

What about trade station?

Mark

I have currently been using SureTrader for over 5 years. I just recently moved and asked them if I could close my account during this process. Long story short. They assured me multiple times that I would be able to turn back on my account with DAS Trader Level II at the promotional price I received of $20/month. Literally as soon as I said yes, go ahead, a string of emails came in apologizing for the confusion and if I wanted the same deal it was going to cost me $130/mo. This was a small account, I have spent tons of money with them on commissions over the years. They could have absolutely cared less and sent me instruction on how to close out my account. I have chat transcripts and emails that show this. Also, throughout my time with them, customer service has ranged from non-existent to fantastic. Depending on who you are able to get via phone or chat on any given day. Just my 2-cents.

Trader1

There are a few other major problems with SureTrader:

1) They modify your orders in an undocumented way without your explicit approval, or route orders to places that don’t support the order you submitted, so your order gets rejected.

An example of the order twiddling is if you submit an order with Type FOK and Minimum AON, if sent to their primary route PDQM, SureTrader will change the order on the fly without your approval to Type DAY, Minimum Any. Also, if you submit an order for Type IOC, and Minimum AON, they will honor the IOC, but twiddle the Minimum to Any. They said they do this because PQDM doesn’t support FOK, or IOC+AON.

However, sometimes when sending IOC+AON orders, it will be rejected instead of the AON changed to Any, dependent on the route they send it to.

Hence, the fair thing for SureTrader to do given they don’t allow you to pick your route, is to send FOK and IOC+AON orders to routes that support it, and not twiddle your orders without your explicit approval.

2) When submitting IOC+Any orders that route to PDQM, the liquidity can be spotty. For example, I’ve sent many Limit Bid/Ask orders for a 1000 shares on various stocks, and have found that the first fill of many orders is for 100 shares, 2, 10, 68, etc. It’s obnoxious because it generates frivolous commissions at the expense of the client. If SureTrader wants to use routes that have poor liquidity, I would rather use IOC+AON or FOK orders so I get all of the shares or none at all, or SureTrader should set it so that if I don’t get at least 1/2 the requested shares the order is cancelled.

3) Their Desktop Pro platform crashes at least once every 1-2 weeks with something like:
DasTrader caused an Access Violation (0xc0000005) ,in module DasTrader.exe at 0023:0043e5e7.

This has occurred on various past version, and the current 5.2.0.8. While the program can be reopened quickly, it’s pretty scary to think the program could crash in the middle of a trade. Also, others have reported their DAS software crashing, so it’s not a new issue.

The bottom line is presently, SureTrader is inviting their clients who are avoiding the PDT rule to switch to a direct route competitor once they get their account up to $25,000.

Joe

Sure Trader is a scam. They shouldn’t even have the articles written about them. I’m suspect of any company that does a “review” on them.

Ion

Hey Ross, I noticed they changed their price structure yet again. Just found out after reading your review.

I’ll be expecting your SureTrader vs Tradezero comparison after these changes.

Trader1

I wanted to follow up on a few more issues noticed while using SureTrader:
1) You typically won’t be able to short popular, low float stocks. For example, if it’s a gapper, in play, had a big run recently, etc. Once in a blue moon something in play will be shortable, but it’s rare. Mid-cap+ stocks typically have shorts available. You want to short low floats? Get a broker that has availability (IB, CB, etc.).
2) Leverage on low float stocks in play are typically restricted to 1:1 for days. So, don’t plan on using leverage with low float stocks in play. However, mid-cap+ stocks typically don’t have leverage restrictions.
3) Regarding customer service, if it’s something standard, like asking them to confirm a trade, cancel an order, etc. they handle that with no problem. However, if it is anything outside of this, you will get answers that range from unconfirmed to nonsensical. Some notable quotes I’ve heard on the phone:
+ “A supervisor has already been made aware.”
+ “I’ve confirmed that…”
+ “Let’s wait and see if it happens again in the future.”

If you use the support website, a proper resolution can take weeks, or in the unfortunate case months to obtain. Want a root cause why your IOC order wasn’t immediately filled or cancelled? You will get some red herring response that has nothing to do with anything. Also, they typically don’t read what you wrote, don’t understand what you wrote, and don’t review the screenshots you attach. They make you feel like they are just stringing you along while you pay the monthly platform fee. Bottom line, if you are using the website for support, assume the response you get is wrong until proven right by a resource other than the SureTrader employee responding to you.

Anthony S Thomsen

Not that anyone has answered these comments, but it seems to be part of the sell was that those who did not have the 25K could workaround. We would receive an email with recommendations. Looking at them, it seems a bit sketchy. It was part of the big sell and growing funds quickly. Maybe someone can offer different insights? Feel free to email me as well.

Leave a Reply Cancel

Before I started trading, I would make $1000 in 2 weeks. Now after taking the warrior trading course, I can make that in a single day, at 26, I now own my own house and I am fully independent, thank you warrior trading for everything you have done for me, my future looks brighter than ever!

Max

I had a job I didn’t really like and I was forced to live five thousand miles away from my home Country. After joining Warrior Trading, I can trade from anywhere and my income is more than doubled. Thanks to this community, it now feels like I’ve been given the keys to absolute freedom.

Roberto

After 3 years of trading as a student my portfolio has net more than $230k. For year 2020, in less than 6 months I’ve net more than 140k. With Warrior Trading’s mentorship and my investment knowledge prior to coming on-board, I developed my own short term swing trading strategy.

Drew

On January 24th 2020 I started with $690 in my account. In March I made $4,433.89 and by April, my account was up 1,000%. I’d made $6,900 in 42 trading days.

Petr

I think trading is the only place in life where I can say I am totally responsible for my outcomes. That’s huge in a world where previously waiting on someone else to make decisions about my income felt like a prison. I now have full autonomy.

Celena

Billing & General Support – [email protected]

Warrior Trading, PO Box 330, Great Barrington, MA 01230
1-530-723-5499

If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.

Warrior Trading may publish testimonials or descriptions of past performance but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty or guarantee that similar results will be obtained by you.

Ross Cameron’s experience with trading is not typical, nor is the experience of students featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication and a significant amount of time.

Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors. We do not track the typical results of our current or past students. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers.

Available research data suggests that most day traders are NOT profitable.

In a research paper published in 2020 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.

In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.

In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.

Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity.

This does not represent our full Disclaimer. Please read our complete disclaimer.

Citations for Disclaimer

Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2020). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2535636

Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005. Available at SSRN: https://ssrn.com/abstract=908615

Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94, DOI: https://www.tandfonline.com/doi/abs/10.2469/faj.v59.n6.2578

Copyright © 2020 Warrior Trading™ All rights reserved.

Warrior Trading Blog

If you’ve been thinking about opening a day trading account at SureTrader, you need to think again because SureTrader is closing down.

As of late 2020, the broker-dealer has closed its doors for good. The company had a history of strained relations with securities regulators at home and abroad.

Quiet Exit

SureTrader quietly shut down its business in November 2020, informing clients they could either transfer securities to F1Trade or liquidate their positions and withdraw funds.

Many clients found this notice only upon logging into their accounts. They were able to place closing transactions only.

The reason SureTrader gave for its demise was a change in the terms with its clearing broker. SureTrader stated its clearing firm’s abrupt move was without “notice and reason.”

Guy Gentile and Swiss America Securities, Ltd.

SureTrader was owned by Swiss America Securities, Ltd., which was controlled by Guy Gentile. Swiss America Securities has since been renamed Mint Global Markets, Inc. Mint Global also operates SpeedTrader, a U.S.-based firm.

Trouble with the Law

Gentile and both his companies have had a checkered past with multiple governments. The State of New Jersey indicted Gentile in 2020 on securities fraud charges. And the U.S. Securities and Exchange Commission has operated an on-going investigation in Gentile’s business ventures for many years.

In a filing in the New Jersey case, Gentile wrote, “I have been under investigation by the SEC for nine years now.” SureTrader’s CEO also complained that the SEC’s investigation into his Bahamian enterprise could spell the end:

“My business in The Bahamas, where I employ 670 individuals, is highly-regulated…. The SEC’s nine-year long investigation of me and my business has caused stigmatisation by inference. Its actions have real consequences. If they continue this never-ending investigation they will eventually succeed in making it impossible for me to continue.”

One of the complaints the U.S. government had against SureTrader was its alleged practice of soliciting American clients. Such a practice from an off-shore broker violates U.S. securities regulations. Both SureTrader and Gentile always denied such allegations.

A Meteoric Rise

SureTrader was set up in the Bahamas in 2020. One of the primary reasons for choosing this location was to avoid America’s pattern day-trading rule. In less than a year, SureTrader was averaging more than 30,000 transactions per day, making it the largest broker-dealer in the Bahamas.

By 2020, SureTrader customers were placing roughly 100,000 trades per market day, dwarfing all other brokerage firms on the island. SureTrader was able to bring in over $25 million in revenue in its second year.

But it wasn’t to last.

Enter the Securities Commission of the Bahamas

The first real sign of trouble came in 2020. The securities watchdog in the island nation fined SureTrader $120,000 for several infractions, including:

  • Not following know-your-customer rules
  • Failing to properly maintain account records
  • Not obtaining written permission for some financial transactions
  • Failing to provide details on insurance coverage
  • Not monitoring the risk of client accounts…and more

Then in September 2020, the Securities Commission forcibly closed SureTrader for five days, preventing any trading activity by any clients. The broker was also prevented from handling client assets during the suspension.

Although no explanation was given for the closure, SureTrader said it wasn’t about the company’s liquidity or solvency. After meeting with the SCB, SureTrader’s license was reinstated.

But just two months later, SureTrader called it quits.

Why Traders Chose SureTrader

Besides not having a PDT rule, SureTrader was able to offer its customers several other benefits. It accepted deposits by debit or credit card. It offered not only stocks on the major U.S. exchanges, but also options, penny stocks, and over-the-counter equities.

For software, SureTrader used DAS Trader Pro. The platform had (and continues to have) Level II quotes, direct-access routing, option chains, news articles, and charting with tools.

Despite its strengths, SureTrader had many weaknesses as well. The broker charged $40 to make a withdrawal by ACH. This undoubtedly irritated many of its American clients.

F1Trade

Some of those clients have moved their accounts to F1 Trade. The first big difference between SureTrader and F1Trade is that the latter isn’t a Bahamian company.

It’s registered in St. Vincent and the Grenadines, another Caribbean country, but not the Bahamas. Different rules, different laws, different government.

F1Trade is regulated by the Financial Services Authority. Its company number is 25629 BC 2020. St. Vincent does not require a broker to hold any financial services license or authorization, which must raise some serious eyebrows.

Despite this and many other concerns, the official language of St. Vincent is English, which is definitely an advantage.

Other highlights at F1Trade include 6:1 day-trading leverage, no routing fees, and multiple trading platforms. The broker charges just half a penny per share for trades with a $1 minimum commission.

For software, F1 uses DAS Trader Pro, the same platform we saw at SureTrader. F1 charges $49 per month to use the program, and this fee is assessed against professional and non-professional accounts alike.

If the $49 price tag is too steep for you, the broker-dealer offers a browser-based platform for free. Called ActiveWeb, this one is also from DAS. It has a lot of the same features as its desktop cousin minus Level II quotes.

One Caveat about F1Trade

F1Trade is a CFD broker. This means the assets that are traded are actually contracts for difference. They are securities with stocks and options as the underlying instruments. This is why there are no routing fees. Orders aren’t sent to the exchanges. Trades occur between F1 and its customers.

Because CFDs are traded on margin, there is an elevated degree of risk with them. In order for a trade to go smoothly, the counterparty (in this case, F1Trade) must be able to pay the difference between the starting and ending prices.

This counterparty risk is significant. No wonder CFDs are actually banned under most situations by U.S. regulators.

With all the red flags surrounding F1Trade, former SureTrader customers should think twice before jumping head first into this Caribbean beach.

Recent Posts

How To Read Candlestick Charts

  • Apr 27, 2020
  • Sean
  • Day Trading, How to
  • Blog Posts

Candlestick charts are now the de facto charting style on most trading platforms so knowing how to read candlestick charts is of utmost importance. What is a Candlestick Chart? Candlestick charting is simply a method of displaying price information in a market. Unlike a simple line chart, each series on a candlestick chart contains four […]

How to Find Undervalued Stocks

  • Apr 24, 2020
  • Sean
  • Day Trading, Investing
  • Blog Posts

Learn how to find undervalued stocks by using the right tools and metrics that will allow you to make better trading decisions. Intro Imagine you could buy a new computer for 40% less than the best price available on the web, just because a company was overstocked. If you are in the market for a […]

How to Short Stocks For Beginners

  • Apr 21, 2020
  • Sean
  • Day Trading
  • Blog Posts

In “The Big Short”, hedge fund managers Michael Burry and Steve Eisman correctly predicted the collapse of the US housing market and used investment vehicles called credit default swaps in order to bet against mortgage-backed securities. This bet is the aforementioned “Big Short” – an investment that makes money when the price of a security […]

Oil Prices Are in the Negative For the First Time in History. What’s Next?

  • Apr 21, 2020
  • Sean
  • Day Trading, Investing
  • Blog Posts

If there’s one story right now that deserves your attention, it’s what’s been going on with oil prices. More specifically, prices for U.S. benchmark West Texas Intermediate (WTI) have been falling significantly over the past while. However, no-one was expected prices to fall down into the negative on Monday, something that has never been seen […]

0 Comments

Leave a Reply Cancel

Before I started trading, I would make $1000 in 2 weeks. Now after taking the warrior trading course, I can make that in a single day, at 26, I now own my own house and I am fully independent, thank you warrior trading for everything you have done for me, my future looks brighter than ever!

Max

I had a job I didn’t really like and I was forced to live five thousand miles away from my home Country. After joining Warrior Trading, I can trade from anywhere and my income is more than doubled. Thanks to this community, it now feels like I’ve been given the keys to absolute freedom.

Roberto

After 3 years of trading as a student my portfolio has net more than $230k. For year 2020, in less than 6 months I’ve net more than 140k. With Warrior Trading’s mentorship and my investment knowledge prior to coming on-board, I developed my own short term swing trading strategy.

Drew

On January 24th 2020 I started with $690 in my account. In March I made $4,433.89 and by April, my account was up 1,000%. I’d made $6,900 in 42 trading days.

Petr

I think trading is the only place in life where I can say I am totally responsible for my outcomes. That’s huge in a world where previously waiting on someone else to make decisions about my income felt like a prison. I now have full autonomy.

Celena

Billing & General Support – [email protected]

Warrior Trading, PO Box 330, Great Barrington, MA 01230
1-530-723-5499

If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.

Warrior Trading may publish testimonials or descriptions of past performance but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty or guarantee that similar results will be obtained by you.

Ross Cameron’s experience with trading is not typical, nor is the experience of students featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication and a significant amount of time.

Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors. We do not track the typical results of our current or past students. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers.

Available research data suggests that most day traders are NOT profitable.

In a research paper published in 2020 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.

In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.

In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.

Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity.

This does not represent our full Disclaimer. Please read our complete disclaimer.

Citations for Disclaimer

Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2020). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2535636

Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005. Available at SSRN: https://ssrn.com/abstract=908615

Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94, DOI: https://www.tandfonline.com/doi/abs/10.2469/faj.v59.n6.2578

Copyright © 2020 Warrior Trading™ All rights reserved.

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

Like this post? Please share to your friends:
Opciones binarias: aprendizaje básico
Deja un comentario

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: