SureTrader or TradeZero

12
8073

The problems I faced when trying to find a broker are not unique. Firstly I am an Australian citizen, secondly I have under $25000 starting capital. I don’t want my trading to be restricted by the Pattern Day Trading Rule. After hours and hours of seaching I narrowed it down to 2 brokers, first cab off the rank was SureTrader. It’s no secret traders have been using Suretrader to get around the PDT rule for a while, but that wasn’t enough for me I had a look at their fees and as far as brokers go they are quite high. I didn’t want to have to worry about commissions destroying my starting account. Although I did open an account with SureTrader I continued looking for other options.

After countless hours of researching I came across TradeZero. They have free limit orders if you are adding liquidity to the market. What does this even mean? Well if you buy/cover at the bid  or sell/short at the ask then you don’t have to pay commission on the trade. The way they do this is by getting kickbacks from market centres for routing to them. The problem for most is they don’t allow US citizens to open an account. Lucky I’m an Australian.

I ended up also starting an account with TradeZero as well. Early thoughts are mostly good. I do not like their trading platform though, I don’t use it for charting (I use TC2000), the only thing I use it for is order executions. I will do a detailed review once I have been using them for a while.

12 COMMENTS

    • The answers you are looking for are available in the other replies. So sorry for the delay in answering these.

  1. Hi TradingTix, thanks for this post.

    I was wondering how Tradezero is working out for you so far? As a beginning trader wanting to take more trades build skill, the fees at Suretrader more than anything are hurting my account. I have no big problems with the actual act of trading with them, just the fees are a big disadvantage right now.
    Would love to hear an update on Tradezero. I wouldn’t use them for charting either so no problem there.

    • I no longer use either of these brokers. Sorry for the delay in replies. I didn’t have notifications setup correctly on my website. I didn’t have any problems with TradeZero as far as withdrawing money. The reason I stopped using SureTrader was for the same reason. Just so we are clear I don’t receive kickbacks from TradeZero, I don’t think they have an affiliate program, I do have an affiliate link for SureTrader though. I looked for other options because the fees at SureTrader were also hurting me. One thing to remember is that to get low commissions through TradeZero is your trades have to add liquidity to the market. If you look at their website it will tell you how. Each trade has to be assessed differently. You have to read the signs, sometimes you are better off not worrying about getting the zero commissions because you lose more money waiting for the fill since you’re not actually meeting the market.

      Just so you are aware as far as building skill, I paper traded and focused on my education for the first 18 months before I even placed a single trade, it had it’s pros and cons. Both brokers have their place, I don’t use either now because I am no longer under the restraints of the PDT rule. If you are worried about TradeZero you could always transfer a small amount of money to test them out. Remember I am not qualified to give advice and this is just for educational purposes. 🙂

    • As far as fills go, I found SureTrader to be better. To be completely honest though I used to trade differently when I was using tradezero because I wanted the $0 commissions. So it was always going to take longer as I was more concerned with adding liquidity to the market. As far as the software that came with TradeZero it was honestly below par. I use TC2000 as my charting platform. I no longer use either of these guys now. I’m now using Interactive Brokers, which in all honesty is much better than both.

  2. Can you please tell a bit about shorts in sure trader and trade zero. Will trade zero have shorts available like sure trader. Thank you.

    • Hi Rahul,

      First off I need to tell you that I am a long biased trader at about 70% long to 30% short. I also haven’t used SureTrader or TradeZero now for some time. That being said, even when I did need to short stocks I had no issues doing so. I had an account with both SureTrader and TradeZero at the same time. If I couldn’t find them at one I would find them at the other. You can also find HTB stocks within a couple of clicks through the TradeZero platform at a price of course. But all brokerages charge for the privilege. The reason I liked TradeZero better than SureTrader is simply because of the brokerage fees. They were much less with TradeZero. I hope this helps.

  3. Do you live in the US? if so, were you able to use your US bank account to fund your TradeZero account?
    I ask this because I live in the US but have a different nationality. Thanks in advance.

    • Hi Joe,

      I live in Australia. When I was using TradeZero it was not available to US citizens. Since you are not a US citizen I believe you will be fine. As far as funding goes, you could ask them through their support page. You could always use a Visa Debit Card with your Bank account and fund that way. Thats what I would do. Cheers

    • Hi Marcus,

      I haven’t used TradeZero for quite some time, now that I am no longer bound by the PDT rule I use Interactive Brokers. I believe the information I would provide in a detailed review would be out of date.
      If there is anything you would like to know though please leave a comment and I will answer for you. Cheers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here