There are people that become interested in figuring out how to secure their financial future and are trying to figure out how to create passive income. Some individuals might save up money and try to figure out an undervalued company to invest in, while others might be interested in applying their strategies to penny stocks. Speedtrader is a platform where you can trade penny stocks, and there’s a lot of features to offer those who want to profit from penny stock trading.
Some traders aren’t focused on having large positions and swing trading those positions to make thousands of dollars. However, there are so many strategies available when it comes to penny stock trading and investing. While it’s a volatile lifestyle, penny stock traders could place trades on a daily basis and make hundreds of dollars, or even more. You will need to have $30,000 minimum to open an account, whether you live in the United States or overseas.
For those who trade frequently, these traders might focus on the fees associated with the platform. Speedtrader was founded by Guy Gentile and has been around since 1999, so it’s clear that they know what they are doing. If you are interested in investing in general or trading penny stocks: is it the right choice? Speedtrader is a part of Mint Global Market.
Fast And Clean
You may have spent a lot of time figuring out the best platform to trade on, only to find that they might not have all of the features that you want. Some trading platforms might allow for paper trading, so that you can test out various strategies, while other trading platforms might offer some unique trading indicators that can help you profit significantly. However, what’s the point of a clean interface or a specific indicator if your platform is known to have glitches?
Speedtrader offers mobile trading in the form of an app titled iSpeedTrader, and many traders have given the app rave reviews. If you are someone who wants to trade anywhere and everywhere, this is a huge plus. Specifically, Speedtrader is known for fast executions. If you are a daytrader, this might be more important than those who swing trade.
What Can You Trade?
You can trade stocks on Speedtrader, and that also means that you can trade penny stocks. However, what if you feel like doing more than just day trading penny stocks, and are interested in learning more about options? Speedtrader offers options trading, so you don’t have to worry about signing up for other platforms.
The pricing changes depending on the account that you have, and fees are lower for those with $25,000 or more in their trading account. If you make over 500 trades per month, which is common for many day traders all around the world: the fees are quite reasonable, clocking in at $2.95 per trade.
If you don’t trade that often, the fees are still reasonable. Specifically, if you make less than 500 trades per month, you can expect to pay somewhere around $3.95 to $4.49 per trade. For those interested in trading options, options are charged at 30 cents per contract. There is also pricing available for per share rates, as well,
Speedtrader has been around for a while, and it’s clear that it isn’t going anywhere anytime soon. Many traders find the platform to be easy to use, and you have access to standard features like Level II reporting and advanced order types.
The fact that Speedtrader offers responsive Level II reporting is especially relevant to the penny stock market, where market makers are able to take advantage of liquidity more than in other markets. However, it should be noted that Speedtrader is not for the newbie traders that want to throw a hundred dollars at the market – you need $30,000 to open an account here.
There is more competition than ever before, and more people than ever are interested in figuring out how to trade and invest from their laptop or smartphone. However, for penny stock traders, Speedtrader is a solid and reasonable choice as a trading platform.