SpeedTrader Promotion: Discounted Commissions

[CLSS Traders 0]

Would just like to clarify something. If i enter a trade at 1000 shares it would cost me the flat fee and every time i scale out of my position at say 200 shares a time this would cost me the flat fee every time I scale out at this rate as well? just want to get an idea of what my commission fees would be on a trade like that. Thanks in advance for any assistance that is provided.

[Lee W 82]

10 hours ago, CLSS Traders said:

Would just like to clarify something. If i enter a trade at 1000 shares it would cost me the flat fee and every time i scale out of my position at say 200 shares a time this would cost me the flat fee every time I scale out at this rate as well? just want to get an idea of what my commission fees would be on a trade like that. Thanks in advance for any assistance that is provided.

You got it.  On a per-ticket fee structure, like the $2.95/trade with Speedtrader, you'd pay $2.95 when you enter and $2.95 each time you scale out.  Keep in mind that the $2.95 does not include routing and regulatory fees.  So the $2.95 will actually be a little bit more.  Those extra fees are usually VERY small, though.  A per-ticket fee structure may not be cost effective if you intend to do a lot of scaling in/out.

[daniel lindegren 27]

On 6/21/2018 at 10:50 AM, Robert H said:

Can't you just change the default account in Global Order Templates (same as standard DAS)?

I know this is old, but just an FYI in case you come across this question again. Yes, you can change the global setting for accounts with SpeedTrader Pro.

[Boomer 0]

Do you know is the SpeedTrader deal still applies to BearBull Traders.  I see the promotion does not appear to be listed on the site any longer.  Is there a known problem with them?  Thanks.

[Robert H 453]

36 minutes ago, Boomer said:

Do you know is the SpeedTrader deal still applies to BearBull Traders.  I see the promotion does not appear to be listed on the site any longer.  Is there a known problem with them?  Thanks.

Yes, the deal is still on: https://speedtrader.com/bearbulltraders/

Some members have reported certain stocks not available for short. Not sure which stocks in particular. 

[Boomer 0]

Thanks, was about ready to sign up, but wanted to know if any problems.  I do also have a PDT account with IB, which seems to have a good supply of shorts, but their commissions are high if you trade in the thousands of shares on a single stock.  Thanks again.

[hattmardy 0]

Hi guys,

Thought I'd add an update as a few things seem different from earlier posts. 

I signed up for SpeedTrader this week, and it was very easy/fast. Most of it was handled online, but I did have to email them copies of W9 & Margin agreement form. 

The account only took 2 days to open, I wired the money this afternoon, and it's all ready to go! Another little difference the minimum was only $25,000, but I still put a little more in for padding. 

Their online system takes me back to the 90s, but I figure I will be using DAS mostly anyway 😉

 

-Matt