SureTrader Review_ Pros, Cons, And Is It Still Worth It_

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SureTrader Review: Pros, Cons, and Is It Still Worth It?

Detail	Information
Status	Shut down in October 2019
Regulation	Licensed in the Bahamas; not SEC or FINRA
Min. Deposit	$500 (when active)
Leverage	6:1 intraday, 2:1 overnight
PDT Rule	Not enforced due to offshore registration
Main Draw	High leverage, low entry, no U.S. restrictions
Key Issues	SEC charges, unregulated, poor support
Alternatives	IBKR, TD Ameritrade, TradeZero, Webull

What Is SureTrader?

SureTrader was an online brokerage operated by Swiss Americas Securities, Ltd., based in the Bahamas. It launched in 2008 and quickly gained attention for offering U.S. traders a workaround to the Pattern Day Trader (PDT) rule. This rule limits traders with less than $25,000 in their accounts from making more than three trades in a five-day period. SureTrader’s offshore location allowed users to bypass this limitation.

The platform offered high leverage, low deposit requirements, and multiple platform options, attracting retail traders looking for fast and flexible trading without heavy restrictions.

Why SureTrader Gained Popularity

Freedom from PDT rule: Traders in the U.S. were eager to escape the constraints of the Pattern Day Trader rule. SureTrader provided that freedom.
Low account minimum: Users could open an account with as little as $500, making it accessible to beginners or traders with limited capital.
High leverage: The platform offered up to 6:1 intraday leverage and 2:1 overnight, which was much more aggressive than what most U.S. brokers allowed.
Platform flexibility: SureTrader provided several trading platforms including DAS Trader Pro, its own web-based platform, and mobile options.
Global access: Because it was an offshore broker, SureTrader allowed international clients from most countries to join easily, with fewer identity verification hurdles than U.S. brokers required.

The Pros When It Was Active

Low entry point: With only $500 needed to start, SureTrader made trading more accessible to smaller investors.
No pattern trading restriction: This feature alone made it appealing to U.S.-based day traders, who would otherwise be limited under FINRA rules.
Generous leverage: Traders could control more shares with smaller capital, potentially boosting gains (but also risk).
Multiple trading platforms: The availability of platforms like DAS Trader Pro offered experienced traders more advanced tools, while the web and mobile options catered to casual traders.
Quick onboarding: Account setup was usually fast and did not require the level of documentation U.S.-regulated brokers needed.

The Major Cons That Surfaced

Lack of U.S. regulation: SureTrader was licensed in the Bahamas, which meant it wasn’t subject to SEC or FINRA rules. This also meant no SIPC insurance, leaving client funds unprotected.
Customer service complaints: Many users reported unresponsive support teams, long delays on withdrawals, and difficulty resolving disputes.
Hidden fees: While trades were relatively cheap, there were many undisclosed fees — like withdrawal charges, platform data fees, and inactivity penalties — that users discovered only later.
Platform reliability issues: There were frequent reports of crashes, lags, and connection problems, especially during peak trading hours. This made active trading risky.
Reputation risks: As complaints piled up, the platform’s credibility began to decline. Many users shared their frustrations on public forums.

What Happened to SureTrader?

SEC crackdown: In October 2019, the U.S. Securities and Exchange Commission filed charges against SureTrader and its CEO Guy Gentile. The allegations stated that the platform illegally solicited U.S. clients and misrepresented its regulatory status.
Platform shutdown: Following the SEC action, SureTrader ceased operations. Users were no longer able to access their accounts or funds. The website went offline shortly after.
Legal disputes: While the company denied wrongdoing, the damage was done. Many clients attempted to recover their funds but had few options due to the lack of legal protections for offshore brokerage services.

Is SureTrader Still Worth Considering?

Absolutely not. SureTrader is no longer operating, and even if it returned under a new name, it wouldn’t be worth the risk. The lack of oversight, regulatory protection, and transparency were serious issues.

Here’s why it’s no longer viable:

The platform has shut down completely and is no longer accessible.
There’s no regulatory body ensuring the safety of client funds.
Many users never recovered the money they had in their accounts.
Similar offshore brokers carry the same risks — lack of transparency, no legal recourse, and unregulated operations.

If you’re trading today, your best bet is to stick with licensed, transparent, and regulated brokers.

Better Alternatives to SureTrader

Interactive Brokers: This is one of the most respected platforms globally. It offers low fees, access to multiple global markets, and professional-grade tools. It’s best for experienced traders who want full control and insight.
TD Ameritrade (now part of Charles Schwab): Offers commission-free trading, solid research tools, and fantastic educational content. Great for both new and seasoned traders.
TradeZero: Has both a U.S.-regulated and an offshore version. It’s popular for short selling and active day trading. The U.S. version is a safer option.
Webull: Known for its clean user interface and no-commission model. It’s a good starter option for younger or newer traders who want a modern platform without complicated tools.

All of these platforms are legally regulated, offer client fund protection, and have transparent fee structures.

Final Thoughts

SureTrader looked like a dream for small-account day traders—low deposit, no PDT rules, and high leverage. But it fell short on regulation, clear customer service, and system reliability. Those issues led to its shutdown under regulatory pressure. Today, traders have safer, more trustworthy options. Whether you’re just starting or seasoned, it’s better to choose a broker that follows the rules, protects your money, and offers the tools you need to trade confidently.

Key Takeaway: SureTrader is no longer in business, and its shutdown is a textbook case of why regulatory oversight and client protection matter. If you’re looking for a platform today, go with a broker that’s SEC-registered, reliable, and built to last — not one that cuts corners.

FAQs

Can I still get my money from SureTrader?

No, the platform has shut down. Many users have reported that they were unable to access or recover their funds.

Was SureTrader regulated by the SEC or FINRA?

No, it was based in the Bahamas and wasn’t registered with any U.S. regulatory agencies like the SEC or FINRA.

Are offshore brokers like SureTrader legal for U.S. residents?

Using them isn’t necessarily illegal, but if the broker solicits U.S. clients without proper registration, it violates SEC rules. Plus, your funds won’t be protected.

What’s the best broker for small-account traders today?

Webull and TD Ameritrade are excellent choices for beginners. They’re regulated, offer low fees, and have no minimum deposit requirements.

Is there any way to hold SureTrader accountable?

Because it operated offshore and is no longer in business, legal recourse is very limited. SEC action against the company helped end its operations, but many users never recovered lost funds.