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.
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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."
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
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
Awards
Best Foreign Broker 2019 - Asia Forex Expo
Best Customer Service 2017 - Forex Choice
Best Trade Executions 2015 - China FX Expo
Best Customer Service Russia 2014 - Global Financial Market Review
