Some readers have been asking our thoughts about Suretrader after Tim Sykes recommended the brokerage on his site.
Suretrader looks good, especially if you want to have a go at shorting penny stocks. Their fees are reasonable and their service, based on our phone call to them today, is right on the money.
Two things to keep in mind if you decide to give Suretrader a try:
1. The company is based outside the U.S. so many of the regulations and laws that might protect you and your money in the U.S. might not be available. This may not be a concern to you and it’s certainly not a concern to lots of non-U.S. citizens that often have problems getting accounts in the U.S.
2. Suretrader can only accept cash wires and not stock. So if you wanted to move an account say from the U.S. via ACAT or DTC shares electronically into Suretrader or deposit stock certificates or in any other way move stock into the Suretrader you would not be able to do so. Only money in. Only money out. That limits it in our view somewhat but this may not be of concern to you.
Other than that, we think it looks OK. And that’s our take.
Jeff Mirkin
Admin
http://www.damngoodpennypicks.com
SureTrader is great. The Securities Commission of The Bahamas is a legit regulator and I have no doubt the money SureTrader holds will be protected.
Best commission rate, most leveraged offered, no pdt rule so you can day trade all you want without have 25k.
It would be silly to not open an account with this broker.
Hi! Thanks for the input. Suretrader does seem good. Wish they could accept in stock positions from other brokerage firms when you open an account though.
I’m brand new to trading and got real interested because of Tim Sykes vids. I was thinking of opening an account, just to get a feel for how it all works; but until I am a little more educated, I’d like to open a free account. Do you think SureTrader would be a good place to start? Or are there others better suited to newbs?
Thanks!
MooBoo