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.
TD Ameritrade is a leading discount brokerage offering a vast range of instruments including forex, stocks, futures, options and crypto. The company has nearly 40 years of experience and authorization from the SEC, FINRA and CFTC. Trading takes place via its well-known thinkorswim platform, which offers sophisticated tools and features including stock screeners and calculators.
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."
"Traders who want access to a huge range of stocks from a reputable broker with low fees should consider TD Ameritrade. On the downside, we miss access to the familiar MetaTrader 4 software."
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
Advanced order types, including OCO and brackets
Automated trading capabilities, including robo-advisors
Several trading platforms including proprietary award-winning software
TD Ameritrade provides rich in-depth research and educational resources
Extended 24/7 trading hours allow for international access to the markets
The broker facilitates automatic syncing between desktop and mobile trading platforms
There is access to over 350 technical studies, 20 drawing tools and 8 Fibonacci tools
Active chat rooms to share ideas and communicate with thousands of experienced traders
The Economic Data tool allows access to a range of data about the health of global economies
Management Services and Essential Portfolios. Reviews of which show high levels of customer satisfaction
Portfolio margin gives some users increased leverage by basing margin requirements on total portfolio risk
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
CFD trading not available
No MT4 or MT5 integration
Fractional shares are not offered
No direct cryptocurrency trading
Broker-assisted trade commissions are around $25
Stringent margin maintenance requirements and high fees
New traders may be overwhelmed by the vast amount of information and tools available
Awards
Best Broker for Beginners 2022 - Investopedia Best Online Broker Awards
Best Online Broker for Stock Trading Platform and Research 2022 - NerdWallet's Best-Of Awards
#1 Platform & Tools, #1 Active Trading, #1 Options Trading, #1 Customer Service, and #1 Phone Support 2022 - StockBrokers.com Online Broker Review
Instruments
Stocks, options
Stocks, Futures, E-minis, Options, Forex, Crypto, ETFs, Volatility Index
Trade 70+ forex pairs including majors, minors or exotics via the desktop, mobile or webtrader app with no commission and 1:2 leverage. The choice of currencies is wider than most forex brokers.
Forex App
TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks.
GBPUSD Spread
Variable
EURUSD Spread
Variable
EURGBP Spread
Variable
Assets
75+
Cryptocurrency
Crypto trading not offered
Gain exposure to cryptocurrency markets through OTC crypto trusts, mutual funds and ETFs and Bitcoin futures. This offers portfolio diversification opportunities and trading vehicles beyond standard crypto CFDs.
Traders from US accepted