Seaport Securities Review

Seaport Securities Broker Review 2024

5 min read

Seaport Securities Review: They started their operations circa 1979. Located in New York, the company is a member of the NYSE. The firm allows investors to trade equities, options, mutual funds, corporate bonds, and U.S. Treasuries. However, the ability to trade futures is not among their services. Seaport Securities provides a web-based platform that works with both Mac and Windows. That it works on the Mac is a bonus. Not all platforms are Mac-friendly, but this one is. It supports most web browsers, including Internet Explorer, Chrome, Safari, and Firefox.

The Seaport Securities platform is basic, with all the essentials to place trades. For instance, it provides real-time quotes, portfolio management tools, basic charting abilities, indicators, and reports.

It’s not a bells-and-whistles platform. However, it’s not uncommon for brokerages to offer streamlined platforms without advanced features. Let’s look at accounts in this Seaport Securities review. Seaport Securities Corporation offers a larger selection of account types than some brokerages.

Seaport Securities Website Review

Seaport Securities offers individual, joint, custodian, corporate, estate, trust, and TOD (transfer on death) account types. Additionally, they accept 401K, self-directed IRA, Roth IRA, SEP IRA, and IRA rollover accounts. There’s no minimum amount required to open an account. Their free check writing service with no monthly fees and minimum account balance requirement makes Seaport a good alternative to a bank account. Also, the company offers direct deposit, Visa debit cards, e-statements, and free ACH transfers.

Free dividend reinvestment is available for eligible securities. Moreover, Seaport Securities provides free money market sweeps so that the uninvested cash in your account still earns income.

Seaport Securities is a well-capitalized SIPC (Securities Investor Protection Corporation) member. Additionally, the brokerage holds an excess in SIPC coverage of $1 billion.

At the time of this writing, Seaport Securities offers a referral program. Refer a friend who meets the qualifications outlined in their promo. You both get five free online trades. Visit their website for more info on their referral program.

History Overview

Seaport Securities Corporation is a strong institution founded by a veteran, active trader who spent 46 years on the floor of the NYSE. From what I see available, experienced traders create the best products and services for other traders.

In this case, the brokerage’s long track record of good service, sterling compliance, and solid capitalization speaks for itself.

Their trading platform, though basic, is intuitive, user-friendly, and gets the job done. It’s useful for beginners, casual traders, and position traders. However, active traders may prefer something more robust.

Seaport Securities offers competitive rates, though on the higher side compared to discount brokerages. Also, the additional price per share over 1,000 shares rate could stack up for large-volume stock traders. However, this won’t affect investors who trade stocks in smaller volumes.

COURSE
Day Trading Course Options Trading Course Futures Trading Course
DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading
INCLUDED

Seaport Securities Fees and Pricing Review

  1. In this Seaport Securities review, the stock rate is $14.95 per trade up to 1,000 shares. Then, $0.015 for every share afterward.
  2. The rate for options is $14.95 plus $1.25 per contract.
  3. The rate for all bonds is $3 per bond.
  4. There’s no fee for mutual funds, and the rate is $35.00 for no-load funds.
  5. Seaport Securities does not offer bond trading on the online platform. Instead, their bond trades require using a broker. For treasury bills, notes, and bond orders, the commission is $50 per transaction.
  6. The tiered margin rates based on your debit balance range from Average Broker Call Rate + 1.50% to Average Broker Call Rate + 3%.

Get updated pricing here.

Final Thoughts

Brokers like Seaboard Securities may be best suited for long-term investors or casual position traders. However, learning to read charts and price action should always be on your agenda.

One of my mentors said, “Technical analysis is the only way to make money for the retail investor/trader!”. That may seem extreme to you, but I see his point. Everything there is to know about a stock is in the price history. The price action. How much are the sellers willing to sell for, and how much are the buyers willing to pay?

The bottom line is you don’t have to learn it all because you’ll never know it all anyway. Even more so with Fundamental Analysis. There is so much info to analyze. Data changes all the time. News is coming out faster than ever. Forget it. Why bother? You need to invest the time to figure out what works best for you with a set of parameters that the Bullish Bears team can teach you.

Frequently Asked Questions

Investors cannot purchase shares of Seaport Securities because the company is privately held.

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