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Choosing the right brokerage is crucial for beginner traders. Cobra Trading, established in 2003, is a U.S.-based brokerage specializing in direct market access for active traders.
This article provides an in-depth review of Cobra Trading, covering its key features, regulatory status, trading instruments, platforms, account types, fees, customer support, and more.
Cobra Trading Key Features
- Direct Market Access (DMA): Allows traders to interact directly with market exchanges for faster executions.
- Advanced Trading Platforms: Offers platforms like DAS Trader Pro, Sterling Trader Pro, and Cobra TraderPro with real-time data and customizable interfaces.
- Competitive Commission Structure: Tiered pricing based on trading volume, benefiting high-frequency traders.
- Comprehensive Customer Support: Provides personalized assistance via phone, email, and live chat during trading hours.
- Robust Security Measures: Member of SIPC, offering protection up to $500,000, including $250,000 for cash claims.
Cobra Trading Regulatory Status & Licenses
Cobra Trading operates under stringent regulatory oversight, ensuring a secure trading environment. It is regulated by the U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
These affiliations ensure compliance with industry standards and provide clients with investor protection schemes.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| SEC | N/A | Up to $500,000 | Not specified | United States |
| FINRA | N/A | N/A | Not specified | United States |
| SIPC | N/A | Up to $500,000 | Not specified | United States |
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Cobra Trading Trading Instruments
Cobra Trading offers a variety of trading instruments to cater to diverse trading strategies.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Stocks | 5,000+ | Up to 4:1 | Variable |
| Options | 1,500+ | N/A | Variable |
| ETFs | 2,000+ | Up to 4:1 | Variable |
| Futures | 500+ | Up to 10:1 | Variable |
| Forex | 60+ pairs | Up to 50:1 | Variable |
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Cobra Trading Trading Platforms
Cobra Trading provides access to several advanced trading platforms, each designed to meet the needs of active traders.
| Platform | Availability | Features |
|---|---|---|
| DAS Trader Pro | Desktop | Advanced analytics, multi-instrument trading, portfolio management |
| Sterling Trader Pro | Desktop | Customizable interface, advanced charting, direct market access |
| Cobra TraderPro | Desktop | Real-time Level 2 data, advanced charting, hotkeys, short locate monitor |
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Cobra Trading Mobile App
Currently, Cobra Trading does not offer a dedicated mobile application.
Cobra Trading Account Types
Cobra Trading offers a variety of account types to accommodate different trading needs and organizational structures.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Individual | $25,000 | Up to 4:1 | Variable | Tiered |
| Joint | $25,000 | Up to 4:1 | Variable | Tiered |
| Corporate | $25,000 | Up to 4:1 | Variable | Tiered |
| IRA | $25,000 | Up to 4:1 | Variable | Tiered |
Cobra Trading Commissions & Fees
Cobra Trading employs a tiered commission structure, rewarding higher trading volumes with lower rates.
| Fee Type | Standard Account | High-Volume Account |
|---|---|---|
| Equities | $0.003/share | As low as $0.0015/share |
| Options | $0.50/contract | As low as $0.30/contract |
| Futures | $0.50/contract | As low as $0.25/contract |
| ECN Fees | Varies | Lower for high-volume traders |
| Market Data | $125/month | Waived for high-volume traders |
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Cobra Trading Deposit & Withdrawals
Cobra Trading supports several methods for depositing and withdrawing funds, each with its own fee structure and processing times.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Wire Transfer | None | $25 | 1-2 business days |
| ACH Transfer | None | None | 2-3 business days |
| Check Deposit | None | None | 5 business days |
| Cryptocurrency | Varies | Varies | 1-2 business days |
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Cobra Trading Customer Support
Cobra Trading is known for its responsive and personalized customer support, available through multiple channels during trading hours.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Phone | 7 AM – 4:30 PM CST | Immediate | English |
| 7 AM – 4:30 PM CST | Within hours | English | |
| Live Chat | 7 AM – 4:30 PM CST | Within minutes | English |
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Cobra Trading Education & Research
Cobra Trading provides educational resources and market research to help traders make informed decisions.
| Resource Type | Availability | Quality |
|---|---|---|
| Webinars | Weekly | High |
| Market Reports | Daily | High |
| Trading Guides | Extensive | High |
| Video Tutorials | Limited | Medium |
Cobra Trading Google Reviews & Reputation
Cobra Trading has received mixed reviews from users on different platforms.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Customer Support | 4.6 | 4.4 | N/A | N/A |
| Platform Features | 4.5 | 4.3 | N/A | N/A |
| Pricing & Fees | 4.2 | 4.0 | N/A | N/A |
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Cobra Trading Bonuses & Promotions
Cobra Trading does not offer traditional bonuses, but it provides other benefits for active traders.
- Commission Discounts: Lower fees for high-volume traders.
- Platform Fee Waivers: Free platform access for active users.
- Referral Program: Earn incentives for referring traders.
- Seasonal Promotions: Discounts on market data fees.
Cobra Trading Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Direct market access with fast execution | High minimum deposit requirement ($25,000) |
| Advanced trading platforms | No dedicated mobile app |
| Competitive commission structure | Monthly platform fees |
| Strong customer support | Limited education resources |
Final Thoughts
Cobra Trading is an excellent choice for active traders who require direct market access and professional-grade platforms. Its commission structure, fast execution, and strong support make it ideal for experienced traders.
However, beginners may find the $25,000 minimum deposit and platform fees a barrier. If you’re an active trader looking for a broker with advanced tools, Cobra Trading is worth considering.