Cobra Trading Review

MIN. DEPOSIT $30,000
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Overview

Company information Some companies in the financial industry are children of traders; others find their roots in the skills of professional IT specialists. There are companies with long and exciting… more

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Details

BrokerCobra Trading
Website URLhttp://www.cobratrading.com/
HeadquartersPlano, Texas, United States of America
Support Number877-792-6272 (toll free)
Support Emailinfo@cobratrading.com
Support TypesPhone, Live Chat, E-mail
Minimum 1st Deposit$30,000
Free Demo AccountYes
Regulated Yes
RegulationFinancial Industry Regulatory Authority
Account TypesIndividual, Joint (JTWROS), Corporate, LLC, Trust, Partnership, Individual Retirement Account (IRA), Roth IRA
Types of AssetsForex, Futures, Options, Equities
Account CurrencyUSD
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company information

Some companies in the financial industry are children of traders; others find their roots in the skills of professional IT specialists. There are companies with long and exciting history. However, some companies are in the middle. These balanced groups are what many people consider trustworthy, sensible and well organized. One such company is Cobra Trading. This is an American company trading on the markets with stocks, futures and options. The company’s start is since 2000. The regulating authorities are all based and operational in the United States of America. These are National Futures Association, Financial Industry Regulatory Authority and Securities Investor Protection Corporation.

The number of clients is always rising. The people are happy with the services and with the overall conditions shot they keep coming back and trusting this company – Cobra Trading. Cobra Trading is a direct access broker/dealer the creation of which aims to provide traders with more options and security.

 

Trading information

Different from many other companies, Cobra Trading does not offer Forex trading. The options offered for trading are stocks, futures, options. These are all different financial instruments which specialize use. These tools are creations of brokers to ease their trading and to allow them to have access to bigger money easier.

The commissions for stocks are very different from these in Forex. Stock trade for 0.005 for a share to which we should add routing and regulatory fees. In this case, each client can buy no more than 250 000 shares.

The prices get lower with the increase in the number of shares. For 250 000 to 2 million shares the price is 0.004 for a share to which should add routing and regulatory fees. For 2 million to 5 million the price is 0.003 for a share. And for five million shares or more the price is 0.002.

The other financial instrument is the options. The prices here start from $0.75 per contract. Of course, to make more money, different traders try to have as many contracts as possible. Another tactic of theirs is to diversify their wallet so that they can lower the risk and compensate for one position if another goes down. The Cobra Trading company does not take rollover fee and does not offer broker assistance. The account of each trade costs $35 for a year. This money is for maintenance.

The accounts can only be in USD, and they are ECN type of auditors. The trader does not offer scalping and hedging, but there is a free demo account option for those who want to learn. Traders from the USA are apparently allowed as the company is American but there are no Islamic accounts. There is also no health care saving accounts and no education saving accounts. However, there are retirement accounts.

 

Trading platforms

The first thing to mention is that the company does not work and offer MetaTrader 4 and 5. There are other options. The first of these options is RediPlus. It has over a million traders every day it allows trading of single stocks, spread trading and derivatives as well. There is news of the action, signals and alerts to help the trader make a better decision earlier. There are also hotkeys when fast reaction what is like a requirement. Level 1 and two news with RSS and charting. The platform gives the option for multi-leg trading strategies and spreads. Also, the possibility of creating a portfolio is real.

The next trading platform is Sterling Trader Pro

It offers more professional tools and is more focused. There are real-time level 2 news and data, the option for portfolio management and basket trading. Each trader has a stock watch list and news list. There are custom alerts and advanced charting. For those times when the fast reaction is a must, there are hotkeys.

RealTick EMS and RealTick Express

This is a platform which the traders can download and which allows direct access to the markets. Its main advantage is that it is light and fast. It also has the options to follow your positions using phone or tablet.

RealTick Ultralite Mobile

As the name suggests, that is a platform that the traders can use on their mobile and smart devices and which allows faster access to the markets and, therefore, increases the chances for asking more money.

 

Security and customer service

The safety of clients money is the number one priority for every online trading broker. This is no different with Cobra Trading. They try their best to secure the traders and to allow easier and safer money transfer and transparent money management after that. They do not use SSL encryption, but they probably use firewalls to stop hackers and attacks on their computer platforms.

However, they do not require entirely on technology to secure their clients. Every trader can contact the company via phone, fax, mail or chat and find out all the information he/she requires.

 

Deposits and Withdraws

To collect money with the trader, every client can use the latest methods of payment. According to the method which the client uses to make a deposit or a withdraw, the time frames for receiving the money is different. With most modern methods of wire transfer and account transfers or when debit and credit cards are used, the time for getting or sending the money is very short. The benefits of that are significant as this allows faster trading, lowers the risks and improves the quality of the service and, therefore, the trading. The company uses wire transfers and ACAT. All the required information to benefit from these methods is on the website of Cobra Trading.

Every client can write checks from the accounts except for IRA’s, UGMA’s and other trust accounts.

There are different fees for the different platforms. There is a special fee for every transaction which is 0. 00002180. It applies when selling all equities and-and the trader can see it on the confirmation of the sale.

 

Deposit bonus and loyalty programs

At the current moment, the company does not offer special bonuses for traders and new customers. There are no loyalty programs or special deposit bonuses. These, however, may soon come according to people from the company. These options are part of changes that may happen and soon we may see them applying on the website for every client and user to benefit.

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