Stock USA Execution Services (Speed Trader) is an accredited member of the Metropolitan New York City Better Business Bureau with an A+ rating.
They are also members of FINRA (Financial Industry Regulation Authority), the NFA (National Futures Association) and SIPC (Securities Investor Corporation).
The site has received recommendations from various online sources and reviewers who have used the site.
However, most reviews indicate that the commissions charged by the site are high.
Speed Trader is not the best for an IRA or retirement fund, those accounts are probably best at a large brokerage house.
The positive comments were: “I tried the speedtrader platform recently with their 1 week trial to see what the DAS software was all about.
The main complaints are that you have to make too many trades to qualify for the volume trading prices.
The other complaint is that the fees are too high to open and maintain an IRA account.
The site has not been accredited by the Better Business Bureau but a rating of an average C grade is present against the business’s headquarters’ listing on the BBB.The lower rank is due to the failure of resolving of some complaints by the website but the site’s long operation is a factor involved in raising the site’s reputation.There are hundreds of complaints against the company and most of these are from users who have faced unnecessary account frozen due to suspicious activity.The customer care is also not up to the mark and the site’s verification methods are a real hassle for the users.
I understand why people like it so much: easy and fast executions with a few clicks.
From what many have told me, they are great for OTC's and the execution is fast, key especially with these stocks.