The global broker SpeedTrader operates as a US direct-access brokerage focusing on equities, ETFs, and exchange-listed options. Managed by SpeedTrader, Inc., the entity holds active memberships with FINRA and SIPC, setting it apart from typical offshore CFD venues.
SEC filings (File No. 008-53035) and CRD records confirm corporate registration in Katonah, New York. However, compliance records indicate historical supervisory adjustments, including a July 2024 NYSE Arca consent decree regarding market-access risk protocols.
Corporate Details:
Legal Identity: SpeedTrader, Inc.
Official Website: speedtrader.com
Corporate Tenure: Operating since 1999
SEC Registration: 008-53035 / CIK 0001129512
FINRA CRD: 107403
Primary Head Office: 2875 Route 35, Suite 5C-2, Katonah, NY 10536, USA
Regulatory Membership: SEC, FINRA, SIPC
Clearing Agent: Axos Clearing, LLC
Execution Tools: SpeedTrader Pro, ActiveWeb, SpeedTrader Mobile
Direct Contact: +1 (845) 531-2487, official email
Public SEC and FINRA databases validate the brokerage-dealer structure, providing fully traceable legal background.
The Speed Trader broker maintains top-tier US regulatory oversight, differing fundamentally from unregulated Forex or crypto entities.
| Factor | Verified Record |
|---|---|
| Operating Broker | SpeedTrader, Inc. |
| SEC Compliance | Broker-Dealer File No. 008-53035 |
| FINRA Status | Active Member (CRD 107403) |
| SIPC Coverage | Member (Up to $500k protection, $250k cash limit) |
| Incorporation | New York State |
| Clearing Partner | Axos Clearing, LLC |
While SIPC protection safeguards securities and cash balances during institutional insolvency, it does not cover standard trading losses incurred from market price movements.
Opening a SpeedTrader personal account requires compliance with US Customer Identification Program guidelines.
During onboarding applicants submit:
Identity verification (SSN / Passport details);
Physical residential documentation;
Financial status, trading experience, and liquid net worth parameters.
Initial balance requirements vary by client residency:
US Residents: $2,500 minimum
International Residents: $30,000 minimum
All active accounts remain subject to statutory Pattern Day Trader (PDT) regulations.
Pricing at the SpeedTrader broker relies on tiered volume tiers rather than traditional account categories.
| Monthly Asset Volume | Commission Rate |
|---|---|
| Stocks (25M+ shares) | $0.0009 / share |
| Stocks (10M–25M shares) | $0.0012 / share |
| Stocks (1M–5M shares) | $0.0020 / share |
| Stocks (<1M shares) | $0.0025 / share |
| Options (10k–25k contracts) | $0.25 / contract |
| Options (1k–10k contracts) | $0.30 / contract |
Orders carry a $0 minimum equity ticket fee ($1 for options), with order caps set at 5 million shares per submission.
Software options cater directly to high-frequency momentum traders:
SpeedTrader Pro: Powered by DAS Trader; features hot-key assignment, multi-ECN routing, and advanced chart layouts;
ActiveWeb: Browser-based interface with core charting capabilities;
Mobile: Execution suite for iOS and Android devices.
Extended market access spans 4:00 AM to 8:00 PM Eastern Time. However, overall instrument coverage remains narrow, excluding Forex, spot crypto, and commodity derivatives.
Funding protocols run directly through Axos Clearing channels.
ACH Transfers: Free incoming and outgoing execution;
Domestic Wires: $30 outward processing fee;
International Wires: $75 outward processing fee;
Settlement Holds: Check or wire deposits are held 10 business days before becoming available for transfer.
Clients assessing withdrawing money from SpeedTrader should ensure name alignment between bank and broker profiles, as third-party transactions are restricted. Following published wire protocols ensures efficient payout execution.
Fixed account administration and market data costs at the SpeedTrader broker complement per-share commissions:
Market Data (Level 1): $15/month (Retail) | $125/month (Professional)
Level 2 Access: Retail users pay $24/month, while the Professional rate is $110/month.
Inactivity Fee: $30 per quarter (if conditions are unmet)
Outward ACAT Transfer: $75
Option Exercise/Assignment: $30
Paper Statements: $10
Whois records confirm the corporate timeline.
Domain: speedtrader.com
Registration: November 8, 1998
Last Update: March 20, 2025
IP Infrastructure: Cloudflare Inc. (San Jose, California)
The domain tenure matches the firm's documented 1999 launch date, validating its physical operational footprint.
No dedicated Trustpilot profile exists specifically for SpeedTrader, Inc. Users must distinguish between this SEC-regulated firm and unrelated entities with similar names (e.g., Speeduptrader).
Primary evaluative metrics stem from public FINRA BrokerCheck filings, which record past administrative cautionary actions alongside the July 2024 NYSE Arca market-access resolution. When analyzing SpeedTrader reviews, traders should weigh regulatory history alongside overall infrastructure performance.
The SpeedTrader broker maintains an active profile on BrokerChooser. The platform confirms:
top-tier US regulatory oversight,
SEC compliance,
SIPC insolvency coverage eligibility up to $500,000.
BrokerChooser highlights direct-market routing tools and transparent commission tiers, noting product limits centered solely around US equities, ETFs, and options.
| Metric | Assessment |
|---|---|
| Legal Status | Fully transparent; SEC & FINRA registered |
| Regulatory Supervision | Top-tier US oversight (SEC, FINRA) |
| Insolvency Protection | SIPC member protection active |
| Domain History | Active since 1998 |
| Entry Capital Floor | $2,500 (US) / $30,000 (International) |
| Fee Structure | Transparent; volume-tiered + data fees |
| Overall Rating | Low to Moderate Risk |
The SpeedTrader broker presents a legitimate, low-to-moderate risk framework for active equity and options day traders. While fixed data fees and strict regulatory rules (PDT) apply, the underlying company features valid regulatory licensing, transparent clearing mechanics via Axos, and confirmed corporate history.
Project characterization:
Risk level: Low to Moderate
Suitable for: Active US equity and options traders, day traders and users who value direct-access execution and detailed routing tools
Less suitable for: Passive investors, users seeking a broad multi-asset platform, Forex/crypto traders and beginners who want a demo account before committing capital
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