KHarp83 8 Posted October 4, 2020 (edited) Hi Everyone, Just wanted to share a few brief thoughts on my new broker Venom (an offshoot of Cobra Trading). Cobra is a small brokerage based in Texas that uses IB as its clearing firm. They do require a 25k initial deposit to open a margin account. If you don't have 25k (like me), they have the smaller firm, called Venom, which only requires 5k to open an account. Because they clear through IB, you get the same margin limits (4:1), and you can use DAS. I already had an account w/ IB for a few years, but was forced to withdraw a substantial amount of my funds from that account which brought me under PDT. I wanted to open another account so that I would at least have 6 trades instead of just the 3, as per PDT, but only wanted to do so if I could continue to trade through DAS. So, now I have my original account through IB, an account w/ Venom, and both are linked through DAS. I pay $150 for my IB account and an additional $50 for my Venom account. Again, because Venom clears through IB, the execution times, shorts available, ect., are all the same. I think it is a really great option for anyone trading w/ a small account who may want more that just 3 trades per week, as per the PDT rule. Hope this helps, Kyle Edited October 4, 2020 by KHarp83 Share this post Link to post Share on other sites
NikkiB 22 Posted October 4, 2020 This is really interesting info - thanks for sharing! 1 Share this post Link to post Share on other sites
Kevin Tighe 0 Posted March 7, 2021 Update? Thank you in advance. Share this post Link to post Share on other sites
