My Speed Trader Review, My Opinion and Thoughts on the Day Trading Platform
It’s heavily implied in the name, Speed Trader is the fastest and preferred financial software platform for Day Traders. I personally never pulled the trigger with Speed Trader, although I did get close during my day trading days and nights back in college almost a decade ago. And while I am somewhat out of the current loop with this software since I never used it, I will say that it looks to be one of the cheapest ways for you to trade a high volume of transactions, lightning fast and for a reasonable broker fee. For more information on my Speed Trader Review, subscribe to our blog for daily blog post content!
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My Speed Trader Review – What Their Fees Look Like
Their fees are actually ridiculously low in comparison to other similar day trading platforms. And yes, while E-Trade and Fidelity may advertise as 0% commission>>trust me they are still being paid on these orders, just in the form of Mark Ups. Say Apple trades are $199.94 per share, they sell it to you for $200.00 per share and keep the profit. This skimming of cream off the top may seem like it doesn’t make a huge dent, but over time this can really eat into your returns. With Speed Trader, the latest that I have seen on fees has been something in the range of like .006 cents per share, not too shabby, even if you’re making a dozen trades a day.
How Much Does Speed Trader Cost?
At last I checked (don’t quote me on this), we can safely assume that the charge for Speed Trader is somewhere in the range of like .006 cents per share. As stated in the former, even with dozens of trades per day being place, this hardly makes a dent in your trades at all, because the fees are really just that low.
Final Thoughts on My Overall Speed Trader Review, The End Opinion
So, if we’re comparing Speed Trader vs Bloomberg, obviously the quality is just not there. However, in terms of fees, the price is definitely right for this low cost, specifically-made for Day Trading, trader platform. Speed Trader was the hot new platform back in 2011 when I was first learning about Day Trading, but they are still alive and kicking to this day. Subscribe and leave a review if you have ever used Speed Trader before. Till next time, you heard it first right here at Inflation Hedging.com.
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