BrokAIr Reviews

Suretrader Review

Suretrader has been making headlines lately with their unique service that allows users to trade with a high degree of leverage. But is this level of risk really worth it?

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Overview of Suretrader

Suretrader is an online broker-dealer founded in 2008. It is owned and operated by Swiss America Securities, Ltd., based in the Bahamas. Suretrader is a popular broker among day traders due to its low commissions and large selection of stocks. It also offers a wide range of services, including stock trading, options trading, mutual fund trading, and forex trading.

Pros of Suretrader

Cons of Suretrader

Public Opinion of Suretrader

The public opinion of Suretrader is generally positive. Many users have had successful experiences with the platform and have praised its low commissions, wide selection of stocks and options, and real-time streaming quotes. There are also some negative reviews regarding customer service and lack of availability for US customers.

Newsworthy Events Involving Suretrader

In 2018, the U.S. Securities and Exchange Commission (SEC) charged Suretrader with securities fraud. The SEC alleged that Suretrader had been illegally allowing US customers to trade on its platform without registering as a broker-dealer with the SEC or any state regulator. The case was settled out of court with no admission or denial of guilt.

In 2019, the Financial Industry Regulatory Authority (FINRA) issued a fine to Suretrader for failing to properly supervise its customers’ accounts and prevent insider trading. The penalty was $250,000.

In 2020, Suretrader launched its new mobile app, providing users with the ability to access their accounts from anywhere with an internet connection.

Link to SEC press release on charging Suretrader with securities fraud (2018)

Link to FINRA notice on penalty against Suretrader (2019)

Link to Business Wire press release on launch of new mobile app (2020)