Brokers

Standard Brokers


Mobile Brokers

  • WeBull (Robinhood replacement with better web app)
  • Robinhood (great for mobile, bad for taxes)


Offshore Brokers

  • Ustocktrade
  • Suretrader (this broker has SHUT DOWN - CEO ran into issues with the SEC along with issues with the clearing broker)
  • F1Trade (CFD broker) (Suretrader replacement) (6:1 leverage) (St. Vincent laws don’t require any licenses to run a broker)
  • CMEG


Professional Brokers


Pattern Day Trade (PDT) Rule: If you do not have a PDT account ($25,000USD minimum) then you cannot make more than 3 day trades in a rolling 5-trading-day period.


The main things to look out for when researching brokers:

  1. Be skeptical if a source lists all brokers you have never heard before
  2. Make sure the broker is registered with the proper authorities such as FINRA
  3. Make sure you fully understand the fee structure of the broker
  4. Look out for reliable customer service, quick order fills, good software that can run on your computer, and cheap fees/commissions
  5. Is the source you are researching on getting paid for their recommendations and, if so, are they still giving an unbiased review?

Discussion

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