then in september 2019, the securities commission forcibly closed suretrader for five days, preventing any trading activity by any clients. The broker was also prevented from handling client assets during the suspension.
then, as of november 4, all clients will be placed on closing transactions only.
the official reason given by suretrader for its closing is that its clearing broker had changed the terms of its relationship without notice and reason. From what it sounds like, they no longer want to do business with the company.
Keep reading the suretrader review to find out more about this online broker and their services. Update 102019 for unknown reasons, suretrader closed its doors at the beginning of november 2019.
They have offered the ability to swap to f1trade broker which is what i have decided to do with the small acc.
breaking news! Suretrader will be closing their doors this up coming week. Guy gentile weighs in on the news and gives me the inside scoop on whats next for.
The bottom line is presently, suretrader is inviting their clients who are avoiding the pdt rule to switch to a direct route competitor once they get their account up to 25,000.
so if you havehad an account at suretrader or an offshore bank and didnt file an fbar i would take steps to correct that immediately! The rule is if all your offshore accounts are over 10,000. This is probably not a big deal if you have under this amount in a bank account, but a brokerage account is a different story.
Even in this past year there are only 3 options(suretrader, cmeg, tradezero) for people who have a small account to daytrade and not get hit with the pdt, only 2(suretrader, cmeg) of them are available for people in the u. S(tradezero us is available but you still are hit with pdt under 25k).
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