SpeedTrader Rated 3/5

SpeedTrader Guide - Read our In Depth 2021 SpeedTrader Review

This SpeedTrader review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Share Dealing.

Benefits of Trading with SpeedTrader

SpeedTrader Review 2021 Quick Summary
💰 Min Deposit 30000
👱‍♂️ Used By 10,000 SpeedTrader users and traders
📆 Founded 2008
🌍 HQ Bahamas
👮‍♂️ Regulation Securities Commission of the Bahamas (SCB), Central Bank of Bahamas
🚫 Excluded Countries SpeedTrader is not available in the following countries :

Open SpeedTrader's Website

Your capital is at risk


learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is SpeedTrader?

SpeedTrader are a global online financial trading platform and multi asset broker founded in 2008

Over 13 years later SpeedTrader has grown to offering retail investors Forex trading, CFD trading, Spread Betting trading, and Share Dealing trading.

SpeedTrader are a global broker. SpeedTrader have a head office in Bahamas.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this SpeedTrader review and assess how well the SpeedTrader platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like SpeedTrader can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of SpeedTrader we breakdown the pros and cons. What SpeedTrader are able to offer, what countries SpeedTrader are available in. Who SpeedTrader are regulated by and more.

SpeedTrader Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this SpeedTrader review useful.

This review of the SpeedTrader platform is very detailed. If you are interested in trading with SpeedTrader in any capacity please take the time to read and research the whole SpeedTrader review.

We have tried to explain the ins and outs of financial trading through the SpeedTrader platform as plainly as possible so that you the trader are as informed as possible before you start to use the SpeedTrader trading tools and depositing and withdrawing funds from SpeedTrader.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with SpeedTrader like Forex trading, CFD trading, Spread Betting trading, and Share Dealing trading. you should have confidence in SpeedTrader and know that the management of your financial investments on the SpeedTrader platform are in good hands.

At the bottom of this SpeedTrader review you can also learn about some pretty good alternatives to SpeedTrader

With this SpeedTrader review we hope to help you see if SpeedTrader is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding SpeedTrader that will help you get off to a good start in the world of online trading.

SpeedTrader Review Table of Contents

SpeedTrader review
SpeedTrader is a Multi-Assets Trading Platform with over 207+ Assets

Learn more about SpeedTrader. SpeedTrader is a multi asset platform with 207+ tradable Assets. Assets available on SpeedTrader include Forex trading, CFD trading, Spread Betting, Share Dealing.

SpeedTrader trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, CFD trading, Spread Betting, Share Dealing are considered financial assets.

Features of SpeedTrader

SpeedTrader review
What you should know

SpeedTrader offer four ways to trade: Forex trading, CFD trading, Spread Betting, Share Dealing.

With SpeedTrader you will need a minimum deposit of $30000. You can sign up for a demo account to acquaint yourself with SpeedTrader platform.

SpeedTrader are able to accommodate various levels of traders whether you are experienced or a beginner.

Are SpeedTrader safe?

When choosing a broker like SpeedTrader the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 13 years SpeedTrader have a head office in Bahamas.

SpeedTrader is regulated. This means SpeedTrader are supervised by and is checked for conduct by the Securities Commission of the Bahamas (SCB), Central Bank of Bahamas regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to SpeedTrader, this will be honored. If SpeedTrader violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with SpeedTrader?

Any payments funded to SpeedTrader accounts by traders are held in a segregated bank account.

For added security SpeedTrader use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should SpeedTrader use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in SpeedTrader deposited in a Tier 1 bank?

Having any money you deposit with SpeedTrader means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if SpeedTrader goes out of business for some reason.

Therefore, we can safely conclude that SpeedTrader is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, CFD trading, Spread Betting, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. SpeedTrader also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding SpeedTrader. let us look at the SpeedTrader features in more detail.

Try creating two accounts when you are working with SpeedTrader. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit SpeedTrader

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How SpeedTrader as a Company Compare Against Other Brokers

Broker speedtrader eToro XTB IC Markets
Year Established 2008 2007 2002 2007
Head Office Bahamas Cyprus, UK Poland Australia
Regulation Securities Commission of the Bahamas (SCB), Central Bank of Bahamas Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 10,000+ SpeedTrader users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit SpeedTrader Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

SpeedTrader review
SpeedTrader Pros and Cons

What we like about SpeedTrader

  • Used by over 10,000 SpeedTrader users and traders
  • Established in 2008
  • Regulated by Securities Commission of the Bahamas (SCB), Central Bank of Bahamas
  • Min. deposit from $30000

What we don't like about SpeedTrader

SpeedTrader review
SpeedTrader Regulation and Licensing in more detail

We have checked and SpeedTrader is regulated and supervised by reputable organisations. You are able to check every SpeedTrader supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with SpeedTrader. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect SpeedTrader traders and provide a safe trading environment. Financial regulation and license approval is essential.

SpeedTrader is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as SpeedTrader you should be sure they're legitimate online agent.

Is SpeedTrader Global?

Yes, SpeedTrader is global as SpeedTrader is available in over 194 countries.

SpeedTrader is a global trading platform in the sense that it operates in 194 countries including nations in Europe, Asia, Oceania, and Africa. Major countries SpeedTrader covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. SpeedTrader has a total of more than 10,000 users.

SpeedTrader review
SpeedTrader Fees Explained

  • SpeedTrader withdrawal fees varies on payment method
  • SpeedTrader does charge a fee for inactive accounts.
  • SpeedTrader does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How SpeedTrader Fees Compare Against Other Brokers

Broker speedtrader eToro XTB IC Markets
Min Deposit 30000 50 0 200
Withdrawal Fees varies Yes varies No
Inactivity Fees Yes Yes No
Deposit Fees No No Varies
CFD Commission Fees Yes Yes Yes

SpeedTrader Minimum Deposit

SpeedTrader require a minimum desposit of 30000 GBP/USD when opening an SpeedTrader trading account.

A minimum deposit is the minimum amount of money required by SpeedTrader to open a new online brokerage account with them.

Dont be scared off by brokers like SpeedTrader charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

SpeedTrader Withdrawal Fees

SpeedTrader withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

SpeedTrader for example allow you to withdraw your funds to Credit cards, Skrill, Neteller.

SpeedTrader Inactivity Fees

SpeedTrader does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

SpeedTrader Desposit Fees

SpeedTrader does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

SpeedTrader Commission Fees

SpeedTrader does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

SpeedTrader review
What can you trade with SpeedTrader?

Be aware that Different entities under SpeedTrader Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with SpeedTrader over 207 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets SpeedTrader offer over currency pairs.

Compare SpeedTrader with eToro and XTB below.

Your capital is at risk

How SpeedTrader Trading Options Compare Against Other Brokers

Broker speedtrader eToro XTB IC Markets
Instruments Available 207 2000 4000 232
Platforms  Windows, Android, Mac OS, iOS Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies        
Forex pairs offered 50 57 65
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 21 19
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 2042 1696 110
UK Shares No Yes Yes Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit SpeedTrader
Your capital is at risk
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

SpeedTrader review
Trading on SpeedTrader web platforms and other applications

SpeedTrader offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

A SpeedTrader iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

SpeedTrader also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See SpeedTrader's platforms

Is the SpeedTrader Trading Platform Secure?

SpeedTrader safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. SpeedTrader also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating SpeedTrader.

SpeedTrader Trading Platform Options

SpeedTrader does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

SpeedTrader offer an their own custom trading platform developed and tested in house. The SpeedTrader trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The SpeedTrader platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With SpeedTrader you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the SpeedTrader platform including news and quotes. Discover possible trades with the strong charting tools found with SpeedTrader. SpeedTrader is available as downloadable applications or online through the cloud. Monitor your orders with SpeedTrader and receive breaking news in your positions.

SpeedTrader Trading benefits

SpeedTrader Trading Accounts Offered

Below we give an overview on the account types that SpeedTrader offer. Whatever you are looking to trade the varying SpeedTrader account types will be able to provide you with what you need.

  • Demo account
  • Mini account
  • Standard account
  • Islamic account

Can I try SpeedTrader before I buy?

SpeedTrader offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

SpeedTrader withdrawal and funding methods

Please note that the list of SpeedTrader payment methods below depend on the SpeedTrader Entity and the Clients Country of Residence.

All available SpeedTrader payment methods available to you can be found in your SpeedTrader members area checked on the SpeedTrader website.

SpeedTrader offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about SpeedTrader

SpeedTrader Payment Methods

  • SpeedTrader accepts Credit cards
  • SpeedTrader accepts Skrill
  • SpeedTrader accepts Neteller
Broker speedtrader eToro XTB IC Markets
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes Yes No
Neteller Yes Yes Yes Yes

*please note available SpeedTrader and other broker payment methods depend on the clients country of residence.

How can I start trading with SpeedTrader?

When opening a trading account with SpeedTrader, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on SpeedTrader trading platforms here. You will need to provide some basic documentation to prove your identity as part of SpeedTrader onboarding and normal KYC identity checks. These checks are standard practice and help SpeedTrader provide a safe financial environment for their 10,000 users.

Your capital is at risk

Performing trades with SpeedTrader

SpeedTrader allow you to execute a minimum of trade of $6.95. This may vary depending on the account you open. SpeedTrader allow you to execute a maxium trade of varies.

As a market maker, SpeedTrader may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

CFD Trading on SpeedTrader

let's take a look at some of the basics of using SpeedTrader leverage.

SpeedTrader offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

SpeedTrader leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the SpeedTrader trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The SpeedTrader leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

SpeedTrader CFDs are typically used for short to medium term trades. For example SpeedTrader intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education resources at SpeedTrader

To trade effectively with SpeedTrader, it's important to get a have a good understanding of the SpeedTrader trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with SpeedTrader and externally.

SpeedTrader offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with SpeedTrader.

Take time to look around the SpeedTrader platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at SpeedTrader

As part of our SpeedTrader review we review customer service options, response times and SpeedTrader trading platform problem resolution effectiveness.SpeedTrader support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

SpeedTrader have a D grade support rating because because sometimes the response was slow or our query wasnt answered. SpeedTrader less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at SpeedTrader

We tested the SpeedTrader live chat and it works well. We sent messages to SpeedTrader livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with SpeedTrader support in multiple languages in multiple countries. SpeedTrader where able to resolve our customer issues.

Email Support at SpeedTrader

We sent several emails to SpeedTrader and answer times overall were excellent. The fastest response from SpeedTrader was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with SpeedTrader, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from SpeedTrader.

Phone Support at SpeedTrader

We called SpeedTrader and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The SpeedTrader phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual SpeedTrader team by calling in varying languages. SpeedTrader made an effort to make sure our queries were answered.

Overall the phone support from SpeedTrader was okay.

See how SpeedTrader Support Compares Against Other Brokers

Broker speedtrader eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit SpeedTrader Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

What you will need to open an account with SpeedTrader

As SpeedTrader is regulated by Securities Commission of the Bahamas (SCB), Central Bank of Bahamas, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under SpeedTrader Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore SpeedTrader's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with SpeedTrader you can visit the SpeedTrader trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://speedtrader.com/ on September 17, 2021.

Is SpeedTrader A Good Broker?

We spent over 3 months examining SpeedTrader in depth. Although we found some very useful aspects of the SpeedTrader platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative SpeedTrader broker.

  • SpeedTrader have a good track record of offering Forex trading, CFD trading, Spread Betting, Share Dealing.
  • SpeedTrader has a history of over 13 years.
  • SpeedTrader has a reasonable sized customer support of at least 10.
  • SpeedTrader are regulated by the Securities Commission of the Bahamas (SCB), Central Bank of Bahamas. This means SpeedTrader fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • SpeedTrader have regulation from Tier 1 reputable regulators.
  • SpeedTrader has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • SpeedTrader have an international presence in multiple countries. This includes local SpeedTrader seminars and training.
  • SpeedTrader are able to hire people from various locations in the world who can better communicate in your local language.

SpeedTrader Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

SpeedTrader not quite right?

If after reading this SpeedTrader review, SpeedTrader does not fulfill your needs check out these SpeedTrader Alternatives.

Click here to view the best SpeedTrader Alternatives

We have spent years researching the best alternatives to SpeedTrader. Click the links below to learn more.

If you feel some of the above SpeedTrader are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of SpeedTrader alternatives below.

Related SpeedTrader Vs Comparisons

We have covered allot in this SpeedTrader review, If you want to see how SpeedTrader compares side by side with other brokers check out our SpeedTrader Vs pages.

If you would like to see how SpeedTrader stands up against other brokers you can read some of our SpeedTrader comparisons below. We compare side by side some of our top rated SpeedTrader versus comparisons. Read our indepth SpeedTrader VS pages below.

SpeedTrader review
SPEEDTRADER Frequently Asked Questions

Read our detailed SpeedTrader FAQ Section updated for 2021.

Can I try SpeedTrader before I buy?

SpeedTrader offer a demo account so you can try the SpeedTrader platform with virtual trading before you put down a payment. Virtual trading with SpeedTrader is zero risk. Learn more here

What funding methods do SpeedTrader accept?

Please note that the list of payment methods below depend on the SpeedTrader Entity and the Clients Country of Residence.

SpeedTrader offer the following funding payment methods Credit cards, Skrill, Neteller, among other payment methods.
Learn more here

Your capital is at risk

Is SpeedTrader safe?

SpeedTrader are considered safe as they are regulated by and checked for conduct by the Securities Commission of the Bahamas (SCB), Central Bank of Bahamas. Any payments funded to SpeedTrader accounts by traders are held in a segregated bank account. For added security SpeedTrader use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Your capital is at risk

Is SpeedTrader trading good?

SpeedTrader is considered good and reputable to trade with SpeedTrader. SpeedTrader is used by over 10,000 active traders and SpeedTrader users. SpeedTrader offers Forex trading, CFD trading, Spread Betting trading, and Share Dealing trading. Minimum deposit with SpeedTrader is 30000.

Is SpeedTrader trading Legit?

SpeedTrader was founded in Bahamas in 2008. SpeedTrader has been facilitating trade on the financial markets for over 13 years. SpeedTrader offers clients Forex trading, CFD trading, Spread Betting trading, and Share Dealing trading. All funds deposited to SpeedTrader are held in segregated tier 1 bank accounts for security. SpeedTrader is regulated by Securities Commission of the Bahamas (SCB), Central Bank of Bahamas so can be considered legit.

Is SpeedTrader a good broker?

SpeedTrader is overseen by the top tier financial regulators Securities Commission of the Bahamas (SCB), Central Bank of Bahamas so can be considered a good broker. SpeedTrader allows Forex trading, CFD trading, Spread Betting trading, and Share Dealing trading.

Is SpeedTrader trustworthy broker?

SpeedTrader can be considered trustworthy. All money funded to SpeedTrader is placed into a segregated tier 1 bank account. this means your money in not held by SpeedTrader directly by a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also SpeedTrader is regulated by Securities Commission of the Bahamas (SCB), Central Bank of Bahamas.

What is the minimum deposit for SpeedTrader?

The minimum deposit to trade with SpeedTrader is 30000.

How long do SpeedTrader withdrawals take?

Withdrawing money from SpeedTrader processing time varies but averages 2-5 days.

Is SpeedTrader regulated?

SpeedTrader is regulated by the Securities Commission of the Bahamas (SCB), Central Bank of Bahamas. Regulatory bodies conduct regular reviews and audits as part of SpeedTrader maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is SpeedTrader a market maker?

SpeedTrader is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with SpeedTrader?

When opening a trading account with SpeedTrader, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on SpeedTrader trading platforms here.

Is my money safe with SpeedTrader?

SpeedTrader is regulated by the Securities Commission of the Bahamas (SCB), Central Bank of Bahamas. One of the most important criteria for traders when choosing a broker like SpeedTrader is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to SpeedTrader, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is SpeedTrader a con?

SpeedTrader is regulated and well established having been in business for over 13 years. SpeedTrader is definitely not a con.

Can you make money with SpeedTrader?

Although traders have had great success with SpeedTrader. Trading on the financial markets with SpeedTrader is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does SpeedTrader have fees?

SpeedTrader withdrawal fees varies on payment method.SpeedTrader does charge a fee for inactive accounts. SpeedTrader does charge deposit fees.

When was SpeedTrader founded?

SpeedTrader was founded in 2008.

How many people use SpeedTrader?

SpeedTrader is used by over 10,000 registered SpeedTrader users.

What is SpeedTrader Headquarters country?

SpeedTrader has its head quarters office in Bahamas.

Does SpeedTrader offer negative balance protection?

SpeedTrader does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does SpeedTrader offer guaranteed stop loss?

SpeedTrader does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does SpeedTrader allow scalping?

SpeedTrader does not offer scalping.

Does SpeedTrader allow hedging?

SpeedTrader does not offer hedging.

Does SpeedTrader offer CFD trading?

SpeedTrader offers CFD trading.

Does SpeedTrader offer STP?

SpeedTrader does not offer STP trading.

How many people use SpeedTrader?

SpeedTrader is used by over 10000 SpeedTrader users and traders.

Is SpeedTrader an ECN broker?

SpeedTrader does not offer ECN trading.

Does SpeedTrader offer a demo account?

SpeedTrader offers a demo account.

Does SpeedTrader offer an Islamic account?

SpeedTrader offers a Islamic accounts.

What are the funding methods for SpeedTrader?

Please note that funding methods and funding options available with SpeedTrader can be found in the SpeedTrader Members area and depend on the SpeedTrader client’s country of residence. Please check your specific available payment methods on the SpeedTrader website. SpeedTrader accept the following funding methods : Credit cards, Skrill, Neteller.

SpeedTrader review written by Andrew Blumer and Mark Hansen

We hope you found our review of the SpeedTrader brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

SpeedTrader review written by Mark Hansen of Comparebrokers.co