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SureTrader is a fraud. They watch your every move and liquidate your positions even though their platform indicates you have equity.
They will bankrupt you with fees before you know it. The margin ratio is a lie too. Almost any stock worth trading is on their list on non-marginable stocks, or at the most 3:1 margin.
Stay away if you want to keep your money.
This broker has a lot of issues start from buggy software and finally with accounting issues. I traded with them and see only one pros - available for day trading.
Some orders were processed incorrectly where I lost money.
They experience accounting issues as well. Below is a quote from their email to me. I want to say that I returned that amount and stop trading with them.
"It has come to my attention that on the a double entry was made to your account in error( two deposits of $3,000.00). ...
You then lost your money in the securities markets and proceeded to withdraw from the second deposit knowing it was not yours. Seeing as how you withdrew funds which accounted for more than you knew you should have in the account we can only assume this was done intentionally.
To that end we conclude that your actions in this matter constitute theft via fraud.
Under the Money Laundering, Fraud and Terrorist Financing provisions (CFT 1995, AML 2001) your account information is being passed onto local and international authorities. Your name will also be blacklisted among all partner and affiliated financial institutions in the region. Theft via fraud is a very serious crime in the Bahamas.
Chief Compliance Officer
How they can call it "fraud" if their compliance officer says "double entry was made to your account in error"? Stay away from them!!!
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