Cobra Trading vs SpeedTrader

Cobra Trading vs SpeedTrader Comparison Table 2024
Cobra Trading SpeedTrader
3.3

Cobra Trading is #35 in our broker rankings.

3

SpeedTrader is #35 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

Established in 2003, Cobra Trading is a US-based brokerage specializing in equities and options contracts. The firm offers 3 powerful platforms and is aimed at professional clients or those looking for retirement accounts. Cobra Trading is regulated by the NFA and SIPC and is a member of FINRA.

SpeedTrader is an online stock broker based in New York. Founded in 1999, the brokerage provides direct access trading software to experienced stock traders, with over 25 routing options. The broker is authorized by FINRA and SIPC, providing robust client protection.

Comment by Reviewer
"After exploring this popular US brokerage, I think experienced stock traders who can deposit at least $30,000 to open an account with appreciate the broker’s low trading fees of $0.0015 per share." "SpeedTrader will suit experienced and active day traders looking for very low fees and advanced platforms, in exchange for a $30,000 minimum deposit."
Pros
  • I’m happy with the broker’s regulatory status in the US, with oversight from reputable bodies including the SIPC, NFA and FINRA. This, coupled, with the broker’s strong reputation since 2003 is a great sign of a trustworthy firm
  • I think the choice of 3 platforms means all strategies and trading styles are catered to. All platforms offer comprehensive charting packages, with sophisticated analysis tools and advanced order types
  • I found some reasonably low fees at Cobra Trading, including shares from $0.0015, options from $0.30 and margin rates as low as 8%
  • Cobra Trading offers a good range of account types, including traditional and Roth IRA’s, plus joint, corporate and trust accounts
  • I like that Cobra Trading doesn’t enforce any minimums on trades and there are also no locate fees
  • Access a range of US stocks, options, bonds and mutual funds, plus extended hours trading available from 4am to 8pm EST
  • Two powerful platforms with level 1 price data, live news streams, advanced charting and more
  • Heavily regulated in the US by FINRA, plus SIPC compensation coverage up to $500,000
  • Competitive fees at $0.0009 per share and $0.25 per options contract
  • Reliable 24/7 customer support via live chat, telephone and email
  • Multiple routing options
  • Short selling aids
Cons
  • Despite the low trading fees, this broker does charge several other platform and admin fees which will soon add up, including monthly software fees from $100 and market data packages from $18 per month
  • Unfortunately, Cobra Trading isn’t going to be suitable for novices, as the minimum deposit to open an account is $30,000. I think it’s a shame that there are no beginner-friendly accounts at this broker
  • I did find that pattern day trading (PDT) restrictions will apply, though this is expected from a US brokerage
  • Only US stocks available, with no forex, commodities or cryptos
  • Not suitable for beginners with a $30,000 minimum deposit
  • Mobile trading is limited to iPhone and iPad users
  • Demo account valid for 14 days only
  • $30 inactivity fee every quarter
  • $35 withdrawal fee
  • No APIs
Instruments
Stocks, options Stocks, options, bonds, mutual funds
Demo Account
Yes Yes
Minimum Deposit
$27,000 $30,000
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
$1 1 Share
Regulator
FINRA FINRA, SIPC
Margin Trading
No No
Margin Rate
8%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Mobile Apps
Yes Yes
Auto Trading
Yes No
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Stock Exchanges
More Comparisons
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