SpeedTrader Review

SpeedTrader.comSpeedTrader have been around since 1999, they were initially created as the retail broker of institutional trading firm StockUSA Inc. They utilize the same platform as the professional traders over at StockUSA, so you can expect an all singing all dancing platform.

One thing SpeedTrader pride themselves on is speed of execution, hence the name SpeedTrader. Whilst execution speed is vitally important to an institutional broker, it’s of little consequence to a retail trader.

Is a 0.0001 sec execution time, really going to maker that much of difference to your profitability? If it does then you should think about becoming a professional trader and going direct access.


Fees & Commissions

Stock Trades Options Base Per Contract Min Deposit Broker Assisted Mutual Funds
$6.95 $0.00 $1.00 $0 $6.95 $50.00


Website & Sign-up

Maybe it’s just me but SpeedTrader’s website looks a little dated. It’s got a 1990s feel to it, and I have to admit I don’t really like the green color. But since that’s just my personal opinion, what’s it actually like to use?

Well it’s nice and easy to navigate around, the text is nice and clear and they offer multiple ways to contact them, including live chat and old fashioned telephone, you can even send them a letter if you like.

Creating an account was pretty painless, the forms were nice and short, the questions concise and the instructions clear and simple. There was no need to send off two forms of identification and I could fund my account immediately after creation.


Platform & Tools


The SpeedTrader platform was designed from the outset to be fast. But how fast is it? And do you really need to go that fast, or is it a bit of marketing gimmick? Well for sure if you’re an institutional trader speed is important to you, thousandths of a second can cost you hundreds of thousands of dollars if you trade millions each day.

But to the average punter, it’s not quite so important. Even if you traded $100,000 dollars of shares each day an extra thousandth of a second isn’t going to be noticeable to you. So is speed important? Yes, but I think you’ll find most brokers are plenty quick enough for your needs.

Having said that the SpeedTrader platform isn’t just quick it’s fully loaded as well. Since it’s used by professional traders you get full access to professional grade tools to help you trade. In fact there are three different trading platforms to choose from depending on your needs and experience.

  • SpeedTrader 2.0 – FREE browser-based direct access trading.
  • SpeedTrader PRO is $49* per month. Level II Direct Access software
  • Sterling Trader Pro is $150 per month. It delivers a full suite of trading tools with reliable, real-time market data, high-end performance, and a fully-customizable, streamlined design.

These fees might look expensive at first glance, but they’re reduced by the amount you trade. If you generate more than $150 in commissions each month the fees are waived. And if you’re going to the trouble of paying for level 2 data that shouldn’t really be a problem.

There’s also a full virtual trading facility which utilizes the SpeedTrader 2.0 platform, so you can test new trading strategies without committing any real capital. Add to that a fully functioning mobile platform enabling you to trade whilst on the move.



  • Low commissions for very active traders
  • Streaming real-time Level I or Level II quotes (available at a cost)
  • Professional Style trading platform
  • Free intra-day charting
  • Virtual trading


  • $30 Quarterly Inactivity Fee (if under 15 trades)
  • Steep software fees for PRO and Sterling PRO platforms
  • High mutual funds commissions
  • $35 annual IRA fee and $25 IRA set-up fee
  • Option exercise or assignment $30 each
  • Lack of trading community



SpeedTrader claims they won’t be beaten on price. You need to be careful with this statement however as it only applies to standard stock and option trades. When you take into account the added on fees and surcharges listed above, that enticing offer may not be so appealing.

That been said if you trade over a certain amount, lets say execute over 20 trades a month, then SpeedTrader could be a good choice. They have an excellent platform that’s not only fast but offers all the tools you’ll ever need including access to level 2 data.

But if you trade less than 20 trades a month or you’re just starting out, there are much better options available. Beginners would be better off choosing Zecco due to the excellent training materials and trading community, intermediate traders would be better off with OptionsHouse or TradeKing as they don’t have platform surcharges. TradeKing also have an excellent trading community which is something SpeedTrader lack completely.

But if you want the bragging rights of using the fastest broker in town and you trade over 20 times a month, SpeedTrader could be just the ticket.

Join SpeedTrader Now and Start Trading for Just From Just 0.0039/Share


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