Cobra Trading Review

Cobra Trading Review

7 min read

Cobra Trading Review: Cobra Trading, founded in 2004, caters to active traders, particularly high-volume traders. The brokerage provides a selection of advanced trading platforms and attentive customer service. Also, the firm offers competitive commissions and margin rates. Additionally, Cobra Trading offers pre- and post-market trading from 6:00 am to 8:00 pm EST.

Cobra Trading Review Website

We wrote this Cobra trading review because we know how important it is to find the best brokerage firms. You need to love the broker you choose; if you don’t love your broker…something isn’t right! Our trading service goes through different brokers and gives our opinions on them as we want our members to have the best broker for their trading style. When learning how to get started in stocks, you’re not always considering the importance of choosing the right broker. That being said, check out our cobra trading review below.

They offer individual and joint JTWROS (joint tenants with the right of survivorship) accounts.

Also, the brokerage accepts traditional and Roth IRA accounts. Cobra also offers trust, corporate, LLC, and partnership accounts.

Account Minimum

The minimum to open an account is $25,000, with a maintenance minimum of $10,000. For a domestic, pattern day trader, the account minimum is $30,000.

And the minimum goes up to $50,000 for a foreign, pattern-day trade account. Then afterward, the maintenance requirement for any day trading account is $25,000.

Comparatively, the account minimum is high, as many brokerages require a lower or no account minimum. However, Cobra Trading addressed this by creating Venom Trading, which requires a lower minimum of $5,000.

If Cobra Trading’s minimum is prohibitive, check out Venom Trading. Fund your Cobra Trading account via check, wire transfer, or automated customer account transfer (ACAT).

Cobra Trading is FINRA- and NFA-registered and a member of the SIPC. Additionally, Cobra Trading’s clearing firm, Wedbush Securities, provides excess SIPC coverage via Lloyd’s of London.

Though Cobra Trading is registered with the NFA (National Futures Association), the brokerage only offers futures trading through Venom Trading.

SERVICES
Trading Rooms Stock Signals and Trading Alerts Stock Watch Lists
DESCRIPTION Bullish Bears offer trade rooms in our Discord. Our chat rooms include penny stocks, large caps, options, and futures We offer stock signals and trade alerts through our watch lists and Discord bots using Tradytics Swing trade and day trade watch lists with hand-picked symbols that have the best chance of breakouts. These are stocks to watch
INCLUDED

Platforms

Cobra Trading offers traders the choice of multiple sophisticated platforms. Each one is a powerhouse.

It’s almost as if they couldn’t pick one from among the best platforms. So instead, they just decided to offer several of them and leave the choice to you.

Many brokerages offer free platforms, which are often rudimentary and less than ideal for active traders. However, Cobra Trading caters to active traders and hence offers powerful platforms.

All the platforms provide direct access trading, hotkeys, advanced charting, and everything you expect from a robust platform. 

Cobra Trading Fees and Pricing Review

  • Cobra Trading offers low commission rates, especially for high-volume traders.
  • The rate for equities starts at $.004 per share but goes as low as $.002 per share.
  • If you trade 250,000 shares or fewer a month, then the $.004 per-share rate applies.
  • Above that, the more shares you trade, the lower the rate goes
  • Likewise, the rate for options is also multi-tiered
  • It’s $0.50 per contract if you trade 2,000 or fewer contracts per month
  • However, the rate goes as low as $0.30 per contract if you trade over 10,000 contracts per month
  • Note that there is a $1 minimum commission for all trades of equities and options
  • Cobra Trading charges a competitive margin rate of 5.25%

Also, there is no fee for broker-assisted trades, which is uncommon and a pleasant surprise.

1. Cobra TraderPro

Pricing – ($100/mo.)

This platform costs the least but still delivers. It offers real-time level II market data, portfolio management, news, watch lists, and custom alerts.

It also provides stop orders and a short locate monitor. Also, Cobra Trading waives the monthly fee for traders who trade 200,000 shares. 

2. DAS Trader Pro

Pricing – ($125/mo.)

This highly customizable platform offers advanced order types, point-and-click trading, basket trading, and multi-account management.

It offers advanced analytics, technical studies, and a real-time market scanner. Also, Cobra Trading waives the monthly fee for traders who trade 250,000 shares.

For more details on the platform, see our DAS Trader Pro Review.

3. Sterling Trader Pro

Pricing – ($200/mo. or $230/mo. with options)

The platform offers real-time level II market data, basket trading, stop order, and portfolio management.

And it offers news, watch lists, and custom alerts. Also, Cobra Trading waives the monthly fee for traders who trade 300,000 shares per month.

4. RealTick Express & RealTick Pro

Express – $200/mo.

Pro – ($350/mo.)

The award-winning platform offers real-time global data, analytics, sophisticated data centers, and powerful research capabilities.

Pro is full-featured with all the bells and whistles, while Express is a more streamlined version.

As with the other platforms, Cobra Trading waives the monthly fee for high-volume traders. Express is free, with 300,000 shares traded per month.

Likewise, Pro is free, with 500,000 shares traded per month. Note that prices don’t include market data and routing fees.

Final Thoughts: Cobra Trading Review

In your search for a broker, you’re bound to find enough of them to make your head spin. Enthusiastic beginning traders may suffer from a common 21st-century disease called “information overload.”

But don’t worry; there’s a simple way to prevent this from happening to you. And there’s also a cure. Half the battle is won if you know what’s most important to you while searching for a broker.

So here’s my ounce of prevention for you. Start by prioritizing your criteria. Things like the types of investment options, the commissions per trade, and the minimum required to fund the account.

Also, consider the asset allocation advice, interest on funds sitting as cash, the quality of customer support, and your personality type. You may even consider credible third-party referrals.

Frequently Asked Questions

Investors cannot purchase shares of Cobra Trading because the company is privately held.

Cobra Trading is a legit broker that is popular amongst traders and investors. They offer direct-access platforms for trading options and equities.

The minimum deposit for Cobra Trading is $30,000. A $25,000 minimum needs to be maintained to keep the account open.

Cobra Trading is not free. DAS platform costs $125 per month and $25 for data. The fee for DAS is waived if you trade 250,000 shares in a month.

Cobra Trading is one of the top shorting brokers. They have great short locates and direct access routing. Other popular shorting brokers are Centerpoint Securities, LightSpeed, and SpeedTrader. 

Yes. Cobra Trading is a direct access broker. They offer top-of-the-line tools for active traders, with excellent short locates. 

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