Do you have questions? Here is a list of the most frequently asked questions. If you need further assistance, please visit the SureTrader Support Center. Our live support is available from 8:00AM to 6:30PM EST or you can Open a Support Ticket and a support agent will reply within 24-hours. Our dedicated support staff is happy to answer any questions you have.

faq

Frequently Asked Questions

Do you have questions? Here is a list of the most frequently asked questions. If you need further assistance, please visit the SureTrader Support Center. Our live support is available from 8:00AM to 6:30PM EST or you can Open a Support Ticket and a support agent will reply within 24-hours. Our dedicated support staff is happy to answer any questions you have.

Who are we? +

SureTrader is a division of Swiss America Securities, Ltd., founded in 2008. We are a Bahamas-based broker/dealer regulated by the Securities Commission of the Bahamas. SureTrader is an Online Broker that allows you to Day Trade freely with 6:1 Leverage and No Pattern Day Trading Rules for your account. We have a 10,000+ Symbol Short-List + Penny Stocks which makes us the best Online Stock Broker for Day Trading & PennyStocks.

Is SureTrader Protected/Insured? +

Swiss America Securities, Ltd has purchased Financial Institution Professional Liability Insurance through American Home Assurance Co (AIG’s affiliate and authorized insurance company to do business in the Bahamas). Liability is up to $ 1,000,000.00

What is the Minimum Amount to Open an Account? +

For a cash account, the minimum is $500. For a margin account the minimum is also $500. There are NO Pattern day trading rules for our accounts and you do not need a balance of $25,000 to day trade. You may day trade with only a $500 minimum.

How do I trade? +

To trade on the SureTrader trading platform, we offer 3 convenient applications. Free to all users is Mobile SureTrader & SureTrader ActiveWeb. In addition, we offer SureTrader Pro, a powerful, Level-2 Trading, Desktop Software package starting at $50/month.

What kind of investments can I trade in my account? +

Currently, you can make equity and option trades.

Can I trade penny stocks, Pink Sheets or OTCBB? +

Yes you can.

Would I be allowed to short stocks in my account? +

We clear through multiple different clearing firms therefore any stock that is deemed shortable on their list would be available to short by us. Additionally we can perform outside locales if none of the clearing firms are able to locate certain securities.

What are your Trade Fees? +

Pay only a penny per share with a $4.95 minimum. Also, commissions for options trades are only $4.95 + $0.50 per contract. You may refer to our Trade Rates page.

Would my account be subject to Pattern Day Trading Rules? +

Your account is not subject to FINRA’s Pattern day trading rule because we are a not a FINRA member firm and executed all of your trades in a principal capacity. You can day trade with our firm with a $500 account balance. All transactions are executed against Swiss America Securities, Ltd. in a principal capacity and we may make money trading as your counter-party. You should consider this conflict of interest before placing trades.

Do I have the ability to choose the route for my trades? +

No. All transactions are routed for possible execution against our principal account. We have the right to reject any order.

When will SureTrader sell my securities without notifying me? +

If the equity in your account falls below the maintenance margin requirements. The firm can sell your securities or other assets without contacting you.

Do you automatically charge for margin calls? +

There is an automatic $25 charge for margin calls.

How much leverage do I have on my trades? +

Intraday margin is 6:1 margin. Overnight margin is 2:1.

Can I adjust the DAS platform to provide the market data I need? +

Yes you can. The platform can be customized to suit your liking. For assistance, please visit the SureTrader Support Center

Can your platform handle high frequency trades? +

Yes the system can easily handle HFT, and we provide additional useful tools for HF traders as well.

How can I fund my account? +

You can fund your account via Credit Card, Wire Transfer, ACH, Neteller or Skrill. For more options available, please look at our Funding & Withdrawals page.

How soon can I wire transfer out any profits I make? +

Once your trades have settled in T+3, you will be able to wire transfer out your funds.

How does the process of withdrawing profits work? +

Want to withdraw funds from your account? No problem! Please follow these simple steps:

  1. Login into your SureTrader Account Center at https://accounts.suretrader.com/. Your username is your registered e-mail address.  Use your IBOSS password, or the already created Account Center credentials.
  2. Once logged in, click into the ‘Banking’ tab at the top of the page.
  3. Click on ‘Withdraw’
  4. Select your preferred withdrawal method.

Click here for more information.

Who is our clearing agent? +

We currently clear through multiple clearing firms.

How does Swiss America Securities, Ltd. (SAS) trades principal and risk-less principal? +

Example: Symbol: XYZ Bid $7.44 Ask $7.45 Client A places a limit order to buy 1000 shares of XYZ at the ask price of $7.45 per share; How a Marketable Limit Order is Handled:

  1. The SAS system will first check the SAS inventory account to see if there is a long position in XYZ
  2. if the SAS is long 1000 shares or more, the order will be filled from the SAS inventory account at the ask price of $7.45;
  3. if the SAS inventory account has 1000 shares [or none]; it will fill the Client A’s order with whatever the SAS inventory account has, and if it can’t completely fill the order, SAS will check;
  4. if there are other clients that have a sell order at the ask price of $7.45, then SAS will fill both orders up to the available shares; and
  5. if Client A’s order still remains unfilled, the remainder of the order; may be filled principal making the SAS inventory account short or;
  6. SAS can trade XYZ risk-less principal which means SAS will buy XYZ shares in it’s inventory account and then sell them to Client A in order to fill the rest of its order.

All orders would be executed simultaneously.
Please note if the stock trades above your buy limit price you may only receive a partial fill or no fill.

What is the difference between principal, risk-less principal and agency? +

Principal – mean SAS is taking risk on filling your order by making our inventory account long or short.

Risk-less Principal – means SAS buys or sells shares first into our inventory account and then fills your order out of our inventory account.

Agency – means a broker that acts as an agent to its clients. SAS does not trade equities in an agency capacity.

What is the difference between an Unregistered Broker Dealers Vs. Foreign Broker Dealer? +

SEC – Unregistered Broker Dealers Vs. Foreign Broker Dealer

Unregistered Broker Dealer is a firm that operates in or out side of the United States that engages in any of the following;

  1. Operates a Securities business within the United States.
  2. Solicits U.S. Persons living in the United States.

Foreign Broker Dealer is a firm that is exempt from registration with the SEC (Rule 15a-6) must meet the following conditions;

  1. Operates a Securities business outside the United States.
  2. Does NOT solicit U.S. Persons living in the United States.

Swiss America Securities, Ltd. strongly suggests you do not do business with Unregistered Broker Dealers. There are many risks in do so, some are;

  1. Unregistered Broker Dealer may not be regulated.
  2. Many of them are undercapitalized.
  3. They may not have licensed staff.
  4. They have the risk of being shut down any time without notice.
  5. You may have little recourse if your money goes missing.

Check if the Broker you are considering is registered in the United States at www.finra.org.

Conducting due diligence on a foreign broker dealer you can do the following:

  1. Check the Securities regulator in their Jurisdiction to see if they are licensed.
  2. Check if they have a physical presence in their Jurisdiction.
  3. Check the corporate registry in their Jurisdiction if their business is in good standing.
  4. Check out who the Principals of the firm are (President, Compliance Officer, CFO)
  5. Check if they are insured and by who.
  6. Check to see if they are FATCA compliant.

There are many order ways to conduct a due diligence review.  You should ask your attorney or accountant what makes sense for you.

To check if your Foreign Financial Institution (broker) is FATCA registered Search Here.

What is the difference between a Foreign Broker-Dealer vs. SEC Registered Broker-Dealer +

What is a SEC Registered Broker-Dealer?
All broker dealers, with certain exceptions, per the Exchange Act Section 15, are required to register with the SEC; this is true if such broker-dealers utilize interstate commerce or use national securities exchanges to effect securities transaction. Further, certain Exchange Act provisions and rules apply to all broker dealers, whether or not registered, and, some rules only apply to SEC registered broker dealers.

What is a Foreign Broker-Dealer?
Due to a great interest of US investors in the foreign market, the SEC adopted a rule, Rule 15a-6, which provides for conditional exemptions from the SEC broker dealer registration, such as having indirect contacts with US persons through unsolicited transactions, distributes research reports, solicit or effect transactions with certain US institutional investors through Registered Broker-Dealers, or, solicit or effect securities transactions with certain defined classes of persons without intermediaries.

Swiss America Securities, Ltd. is a Foreign Broker-Dealer. Swiss America Securities, Ltd. complies with all laws and rules applicable to it and regularly examines the manner in which it conducts its business to ensure compliance as well as the security of its clients and their funds.

Disclaimer: The information contained on this website is only informational purposes only; we provide this information as a service to our website visitors; it is not legal advice or a substitute for legal counsel, nor does it constitute advertising or a solicitation. Any person using this website acknowledges that the information they find here is not legal advice and they have been advised to retain counsel of their own choosing to advise them as to their own particular situation and their own set of facts. Any person visiting or using this website acknowledges that they have not been solicited by Swiss America Securities, Ltd. and/or Sure Trader.

How do I run SureTrader PRO on my Mac? +

How do I run SureTrader PRO on my Mac?

To run the Pro software on a Mac you need to use Parallels Desktop software or an equivalent software.

Who can trade with SureTrader? +

Swiss America Securities, Ltd, is located and licensed as a broker-dealer in the Bahamas, and it owns suretrader.com (collectively “Sure Trader”) and therefore is regulated by the laws of the Bahamas.

Only the following persons, companies or entities can open a Sure Trader account to trade U.S. Securities and Foreign Securities:

  • Persons outside the U.S.
  • Trusts outside the U.S.
  • Companies outside the U.S. such as a U.K. company.

For example, a UK company can be owned by a person holding shares in such entity, under UK law. It can have one shareholder who also acts as a director. UK Sareholders; Register-a-U.K. company-online

Per U.S. law, U.S. citizens living/resident outside the U.S. can trade either U.S. or Foreign securities with SureTrader.

Please be aware that the U.S. Securities Exchange Acts and the SEC rules and regulations are complex and are meant to protect U.S. persons, and can be very confusing. This information is not meant to be legal advice or tax advice or investment advice-please seek out professional advice as to your particular circumstances or the formation of any foreign company, particularly since this information and this website is not intended for U.S. persons.

*These are the policies of Swiss America Securities, Ltd which can change at any time, some exemptions maybe made in special circumstance.

What annual forms may need to be filed by U.S. Persons with the U.S. Government? +

Should I trade from a Corporation or LLC? +

If you trade from a company account, it is our opinion that you keeping your investing/trading company separate from your business actives. You may want to consider incorporating a new company for your investing/trading activities.

Here is a list of companies that can assist you with incorporating. There are many companies that specialize in incorporating.  Please seek legal or tax advice before proceeding.

Disclaimer: Swiss America Securities, Ltd. (SureTrader) is not affiliated with the companies links above and receives no compensation from them. This FAQ is for informational purposes only and is not legal or tax advice. Please note that U.S. Persons that are beneficial owners of a Non-U.S. entities acknowledge that they have no protection that the S.E.C. provides its U.S. Persons.

What is a “Buy-In” and when does it occur? +

A Buy-in refers to a forced close out of a short position by your brokerage. Customers holding short stock positions are at risk of having these positions bought-in and closed often with little or no advance notice. This is a risk which is inherent to short selling and generally outside the control of the customer.

There 2 scenarios where Buy-ins could occur:

  1. By our Corresponding Broker: This can happen without any notice to the brokerage firm. Once notified by our Corresponding Broker, SureTrader will then notify the customer as soon as possible.
  2. By the Brokerage Firm: SureTrader is licensed for principal trading and can accept or deliver trades from its own inventory.   Instances where the firm does not have inventory to deliver or cannot locate any in the market, a forced buy-in of short shares may occur.   If enacted, this type of buy-in would only occur on stocks that are not on the day’s short list.  It is SureTrader’s buy-in policy execute shares at the NBBO (National Best Bid or Offer).  Once executed, SureTrader will then notify the customer as soon as possible.

Buy-ins are not reported on a real-time basis, but we make a best effort to notify clients on a timely manor.

What are Odd Lots? +

Odd Lots restrictions means you can’t buy or short less than 100 shares; this is for stocks below $20 per share.

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