Seaport Securities Review: They started their operations circa 1979. Located in New York, the company is a member of the NYSE. The firm offers investors the ability 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.
Let’s look at accounts in this Seaport Securities review. Seaport Securities Corporation offers a larger selection of account types than some brokerages.
The company 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 no 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.
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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. Though 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.
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 that “technical analysis is the only way to make money for the retail investor/trader!”. Now 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 the sellers are willing to sell for and how much the buyers are 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. So much info to analyze. Data changing all the time. News coming out faster than ever. Forget it. Why bother. You just 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.
For me, it ended up being simpler after I trimmed all the over complications accumulated after years of listening to too many “experts”. What I needed were real, honest successful traders with the mentality of “paying it forward“. Instead of “gurus” getting newcomers into the trading industry with exorbitant membership fees. I found more value in the free education available at Bullish Bears than those expensive trainings I spent thousands of dollars on in the past. The price per year of the Bullish Bears’ Deluxe Membership is less than what I use to spend per month with…the gurus.
Don’t take me wrong, many of them are good traders. However, they often rely more on memberships than trading themselves.
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