I hate suretrader and cant use tradezero anything else?

Discussion in 'Retail Brokers' started by cashclay, Dec 7, 2017.

  1. cashclay


    Suretrader is a total ripoff and tradezero doesnt allow Americans to join. Is there anything else for a trader with less than 25,000 to use?
  2. zdreg


    you have been here since 2015. learn how to use search.
    truetype likes this.
  3. roller777


    I also looking to avoid PDT, I mean to do intraday trading with less that USD 25,000 .

    SEC rules are unfortunately stablish to avoid intraday for small investors, but it is unlimited to swing trading. Anyway, my US broker (IB) does not allow me to do intraday. So far, I also heart about Suretrade and tradezero as alternatives to do intraday with a small account (both are in Bahamas). It seems that Suretrade is very expensive for small account point of view.

    I contacted and tested Tradezero. They have a free platform (and other alternatives where you have to pay, and it could be heavy for a small account).

    I could make any SHORT during my 4 days of testing (It was not allow because "there were not enough stocks to be borrowed").

    Because I have a US broker (interactive brokers), I could do all my technical analysis on its platform. TraderZero versions is basic, and I did not expected more. It was enough to have a BUY and SELL button (stop loss orders are not allow). The problems is that it is impossible to update prices to a current order, I mean you have to cancel and do a new one if you need to change the price.

    I use to do SHORTS, so this is the part I do really hate. I can do anyone.

    It is not for US citizens or US residents, so you have to figure out how to solve this issue, either with a trustful friend or relative, or if you have a foreign passport. It is up to you. I am Peruvian, so I did not have a problem.

    Fees seems to be cheap that SURETRADE. That is what I heard, but you never know if there are extra comisssion or fees.

    For instance. You have to pay for level 2 data, you have to for a sw platform (even there is one for free I do not know if it will work for all the time you plan to raise your small account).

    I heart that sure trade request you to pay extramoney to do intraday (i read it in another forum. I am not sure).

    In addition, I asked questions to the support team, and so far I did not have a reply. It is terrible to be a small investor. It is scary. If you do not ask you will be surprise with extra cost (It is a general comment. i.e. It happened to me when I invested in share properties and it is almost a scam).

    I also read a post that to avoid PDT rules there are "alternatives" traders, where you exchange equities between members. It will not work for intraday. You need LIQUIDITY , and it is ONLY possible in a MAIN exchange market.

    OK, there is a risk involve, anyway it will be worst not do anything. Everybody want to avoid SCAMS, so I just wondering some additional experiences. I really want to do INTRADAY trading but I am not wiliing to risk US 25,000 at this time.

    So please, if somebody else try another broker, please your information will be appreciate.

    P.S. But the ways to have a CASH account does not work either for intraday. You have to wait 3 days to settle your money back.