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SpeedTrader Review
SpeedTrader is a US day trading broker with direct market access. FINRA has fined and censured it several times, most recently in 2024 for serious compliance gaps.
Min Deposit
$2.5
Spreads From
Not applicable, SpeedTrader charges per share and per trade commissions
Max Leverage
Standard US day trading margin rules apply, no forex style leverage is offered
Platforms
3
Pros
- FINRA and SEC registered broker dealer with a long operating history
- Built for direct market access day trading, not a beginner platform
- Offers DAS Trader Pro, a serious professional trading platform
- Commission pricing is published in detail with no set minimum deposit
Cons
- Exchanges fined it $595,000 in 2015 over supervisory control gaps
- FINRA fined it $165,000 in 2024 for weak spoofing and layering checks
- A separate 2024 FINRA case found weak best execution and AML controls
- FINRA found it falsely denied having disciplinary history from 2020 to 2023
SpeedTrader, Inc. started in 1999 as Mint Global Markets, later became Stock USA Execution Services in 2009, and took the SpeedTrader name in 2017. It has held the same FINRA membership, CRD number 107403, since 2001, and serves active day traders and some institutional clients with direct market access.
Regulators have fined SpeedTrader more than once. Exchanges fined it $595,000 in 2015 over supervisory gaps. In August 2024, FINRA fined it $165,000 for failing to properly watch about 570 customers, many based in China, for possible spoofing and layering between 2017 and 2020.
A separate FINRA case in September 2024 found weak best execution reviews, a poor anti money laundering program, and huge order volumes routed through firms that traded against customers. FINRA also found that from 2020 to 2023, SpeedTrader wrongly told customers on an official form that it had no disciplinary history. Accounts need $2,500 to open and $25,000 to day trade.
Min. Deposit
USD 2.5
Max Leverage
Standard US day trading margin rules apply, no forex style leverage is offered
Spreads From
Not applicable, SpeedTrader charges per share and per trade commissions
Platforms
Regulators
Platforms
- FINRA
- SEC (USA)
- SIPC
