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Cobra Trading Inc. is a brokerage company focused on professional market players who trade shares, options, and futures.
The company offers discounted rates of commissions for high volume traders. The broker charges a commission on shares from $0.004 per share on condition that you trade at least 250,000 shares in a month. The more you trade in a month – the lower commissions you pay. $0.002 is the lowest commission if you trade more than 2 million shares a month. The highest commission rate equals $4 per 1,000 shares. If a client trades options, a commission amounts to $0.5 per contract in case a trade volume is fewer than 2,000 contracts a month. A $0.30 commission is charged if a client trades over 10,000 contracts a month.
Trading accounts can be opened in US dollars. The broker does not allow scalping and hedging, but a demo account is available at no cost to those who want to learn to trade. The company does not support Islamic accounts but offers accounts for retired people.
Cobra Trading invites its clients to open one of the following accounts:
The Individual Account is intended people who want to trade personal capital.
The Joint Account (JTWROS) is most commonly used by married couples.
The Individual Retirement Account (IRA) has a target audience of pensioners.
The Roth IRA is a special account for retired people. Unlike the traditional IRA account, money is credited to this account after a value added tax has been deducted from earnings. When some time later an investor withdraws the whole money amassed, no taxes will have to be paid.
The Corporate Account is opened in the name of the company and a person is appointed to trade on behalf of this company.
With the Trust Account, investments are controlled by a trustee.
With the Partnership Account, two or more individuals act as members of a partnership as a whole. Each individual owner of the partnership is equally and personally responsible for its debts.
Cobra Trading encourages its clients in trading as the broker provides them with educational materials absolutely free of charge. The training courses are created separately for beginners and advanced traders.
The broker gives its clients a choice of trading platforms: RediPlus, Sterling Trader Pro, and RealTick EMS - RealTick Express.
The size of a minimum deposit depends on what country a trader comes from. For US residents, a minimum deposit is $25,000, for the rest of clients it is $50,000. In case a client wants to open an account with a lower deposit than the company requires, one have to deal with clearing companies. Cobra Trading cooperates with Wedbush Securities and Interactive Brokers.
Cobra Trading is registered with FINRA (the Financial Industry Regulatory Authority) and NFA (the National Futures Association) that regulate trading stocks, forex options, and futures in all 50 states of the US.
