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SpeedTrader was founded in 1999, establishing itself as a brokerage firm specifically designed for active day traders. The company was created to provide direct access trading software and online trading platforms that cater to investors who require more than conventional online brokers.
SpeedTrader operates as a division of Mint Global Markets, Inc. This affiliation enables the company to leverage the expertise and resources of its parent organization while focusing on delivering specialized services tailored for active traders.
SpeedTrader is headquartered in Katonah, New York, USA. This strategic location allows it to be close to major financial markets, enhancing its operational capabilities.
Although primarily serving clients in the United States, SpeedTrader offers its services to international clients from select countries. The firm specializes in online trading services, particularly for stocks, options, and ETFs.
SpeedTrader is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). These affiliations provide a level of regulatory oversight and client fund protection.
Since its inception in 1999, SpeedTrader has achieved several key milestones, including the launch of its proprietary trading platforms and the expansion of its service offerings to include advanced trading tools and technologies.
Over the years, SpeedTrader has focused on enhancing its trading capabilities, which has involved expanding its routing options to over 25 direct market access routes. This expansion has enabled the firm to cater specifically to the needs of active traders.
SpeedTrader has seen a steady increase in its customer base, particularly among active day traders and professional investors. The company's commitment to providing low-cost trading options and advanced trading tools has attracted a dedicated clientele.
The company has developed three main trading platforms: SpeedTrader Pro, Active Web, and a mobile platform. Each platform is designed to meet the specific needs of different types of traders, offering features such as real-time data, advanced charting, and customizable interfaces.
While specific awards were not detailed in the available information, SpeedTrader has garnered a reputation for its customer service and innovative trading technology, which are frequently highlighted in user reviews and industry analyses.
Currently, SpeedTrader does not offer forex trading options. The focus is primarily on stock trading, options, and ETFs.
SpeedTrader provides access to a wide range of U.S. stocks, allowing traders to engage in both long and short positions. The platform supports various order types and offers a robust short locate tool for traders interested in short selling.
SpeedTrader does not specifically mention offering Contracts for Difference (CFDs) as part of its trading services.
In addition to stocks and options, SpeedTrader allows trading in ETFs and provides access to over-the-counter (OTC) stocks, including penny stocks and pink sheets. However, it does not support trading in cryptocurrencies or commodities.
One of SpeedTrader's unique advantages is its direct market access, which allows traders to execute orders without intermediaries, leading to faster execution times. The firm also offers a free demo account for new traders to familiarize themselves with the platform before committing real funds.
SpeedTrader is regulated by:
As a U.S.-based brokerage, SpeedTrader operates primarily under U.S. laws and regulations. It does not have a significant international legal entity structure.
Client funds are protected up to $500,000, including a maximum of $250,000 for cash claims, through SIPC coverage. Additionally, accounts at SpeedTrader may benefit from Lloyd's of London insurance, providing further protection against broker insolvency.
SpeedTrader primarily serves clients in the United States but also accepts clients from select international regions, subject to local regulations.
SpeedTrader has faced regulatory scrutiny in the past, with several fines related to trading and order execution practices. However, it currently maintains an active operational status without recent complaints listed on consumer protection platforms.
SpeedTrader competes with several other brokerage firms, including:
SpeedTrader positions itself as a niche broker catering specifically to active day traders. Its focus on low-cost trading and advanced platform capabilities differentiates it from more traditional brokerage firms that serve a broader clientele.
Key differentiation factors for SpeedTrader include:
SpeedTrader has established itself as a prominent player in the online brokerage industry, particularly for active day traders. With a focus on low-cost trading, advanced technology, and direct market access, the company continues to attract a dedicated client base. However, potential clients should consider the lack of forex trading options and the high minimum deposit requirements when evaluating SpeedTrader as a trading partner.
For those interested in learning more about SpeedTrader and its offerings, please visit SpeedTrader's official website.
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