SpeedTrader

What SpeedTrader Is

SpeedTrader is a direct market access (DMA) broker designed specifically for active day traders who need fast execution, multiple order routing options, and professional-grade tools. This is not a platform for casual investors or buy-and-hold portfolios — SpeedTrader exists for traders who execute dozens or hundreds of trades per day and need their orders hitting the exchange in sub-millisecond timeframes.

The company was founded in 1999 during the height of the day trading boom and has operated continuously since then, making it one of the longest-running DMA brokers for retail traders. SpeedTrader is a division of Mint Global Markets and is a member of FINRA and SIPC.

Direct Market Access — The Core Value

The defining feature of SpeedTrader is direct market access. Unlike retail brokers that route orders through market makers or internal order flow (payment for order flow model), SpeedTrader sends your orders directly to exchanges and ECNs:

- ARCA, NASDAQ, NYSE, BATS/EDGX — direct exchange routing
- Multiple ECN routing options — choose where your order goes for optimal fill quality
- Sub-millisecond execution — orders reach the exchange as fast as technically possible from retail infrastructure
- No payment for order flow — your orders aren't sold to market makers

For scalpers who trade on small price movements, the difference between DMA execution and retail broker routing can be the difference between a profitable and unprofitable strategy.

Level 2 and Market Data

SpeedTrader provides professional-grade market data:

- Full Level 2 / Market Depth — see all orders at every price level across exchanges
- Time & Sales — real-time tape of every execution
- Pre-market and after-hours data — extended hours trading support
- Multiple data display options — customizable Level 2 montage

Short Locating

SpeedTrader offers short locate services — the ability to find and borrow hard-to-borrow shares for short selling. This is essential for short sellers who trade momentum stocks where shares are difficult to borrow. The locate desk provides real-time availability and pricing for hard-to-borrow securities.

Trading Platforms

SpeedTrader offers multiple platform options:

- SpeedTrader PRO — the flagship desktop platform with DMA routing, hotkeys, Level 2, and multi-monitor support
- Sterling Trader Pro — a professional alternative platform with its own DMA infrastructure
- DAS Trader Pro — another professional DMA platform option
- Mobile Trading — basic mobile access for order monitoring and execution

The multi-platform approach means traders can choose the execution interface that best fits their workflow — SpeedTrader doesn't force you into a single platform.

Pricing & Commissions

SpeedTrader's commission structure is designed for active traders:

- Per Share pricing — starting at $0.0025/share (min $1.00/trade), scaling down with volume
- Per Trade pricing — $4.49 per trade for lower-frequency traders
- ECN rebates/fees — pass-through pricing for exchange routing (add/remove liquidity)
- Short locate fees — variable based on share availability and demand
- Platform fees — vary by chosen platform (SpeedTrader PRO, Sterling, DAS)
- Minimum account — $25,000 (Pattern Day Trader requirement)

The per-share pricing with volume tiers is competitive for high-volume traders. A trader executing 100,000+ shares/day will see significantly lower per-share costs than on any retail commission-free broker (where the cost is hidden in execution quality).

What SpeedTrader Does Not Have

- Not for beginners — $25,000 minimum, complex commission structure, professional tools
- No fractional shares — whole shares only
- No crypto, forex, or futures — US equities and options only
- No free tier — paid platform with minimum balance requirements
- Limited charting — the platform is execution-focused, not charting-focused. Most SpeedTrader users run a separate charting platform (TradingView, DAS, etc.)

Who SpeedTrader Is For

Good fit:
- Active day traders executing 50+ trades per day who need DMA execution quality
- Scalpers who trade on small price movements where execution speed determines profitability
- Short sellers who need reliable short locate services for hard-to-borrow shares
- Professional traders who want multiple routing options and exchange-direct order flow
- Prop firm traders and funded traders who need professional execution infrastructure

Not the right fit:
- Casual investors or swing traders — the minimum balance and commission structure don't make sense
- Beginners — the platform assumes professional-level trading knowledge
- Traders who want integrated charting — SpeedTrader is an execution platform, not a charting platform
- Anyone trading less than $25,000 — doesn't meet the account minimum

Bottom Line

SpeedTrader is a professional DMA broker for serious day traders. If you execute dozens of trades daily on US equities and your edge depends on execution speed and routing quality, SpeedTrader provides the infrastructure that commission-free retail brokers fundamentally cannot. The $25,000 minimum and professional pricing mean this isn't for everyone — but for its target audience, the execution quality difference is real and measurable.