Introduction
If you’re looking for a reliable and efficient online trading platform, you might have come across Cobra Trading. One of the factors you need to consider before signing up with any trading platform is the minimum account balance required to open and maintain a trading account.
In this article, we’ll discuss everything you need to know about Cobra Trading minimum, from the account minimum, the required minimum deposit, and the fees associated with maintaining an account.
What is Cobra Trading?
Cobra Trading is an online brokerage firm that offers trading services in stocks, options, futures, and forex. The trading platform is designed for active traders who require fast execution, advanced trading tools, and direct market access.
Cobra Trading was founded in 2003 and is headquartered in Texas, USA. The platform is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Cobra Trading Account Minimum
Cobra Trading requires a minimum deposit of $30,000 to open and maintain a trading account. The account minimum is higher than most online trading platforms, which require a minimum deposit of $500 to $5,000.
However, the high minimum deposit is understandable, considering the type of traders the platform targets. Cobra Trading is designed for active traders who require advanced trading tools and direct market access, and these traders usually have a significant amount of capital to invest.
Cobra Trading Fees
Cobra Trading charges a commission of $0.005 per share for stocks and options trades, with a minimum commission of $1.00 per trade. For futures and forex trades, the commission varies depending on the contract and the trading volume.
In addition to the commission, Cobra Trading charges a monthly maintenance fee of $100 for accounts with a balance below $30,000. Accounts with a balance above $30,000 are exempt from the maintenance fee.
Trading Platform and Tools
Cobra Trading offers a variety of trading platforms, including the popular DAS Trader Pro platform, which is designed for advanced traders. The platform provides direct market access, level 2 quotes, and advanced charting tools.
In addition to the trading platform, Cobra Trading offers a variety of trading tools, including scanners, alerts, and risk management tools. The platform also provides access to market news and research reports.
Cobra Trading Customer Service
Cobra Trading provides customer support via phone, email, and live chat. The customer service team is available from 8:00 am to 5:00 pm CST, Monday through Friday.
The platform also provides a variety of educational resources, including webinars, tutorials, and a trading blog.
Pros and Cons of Cobra Trading
Pros
- Designed for active traders who require advanced trading tools
- Direct market access
- Multiple trading platforms and tools
- Access to market news and research reports
Cons
- High minimum deposit of $30,000
- Monthly maintenance fee for accounts with a balance below $30,000
- Commission for stocks and options trades can be higher than other platforms
Conclusion
Cobra Trading is an excellent platform for active traders who require advanced trading tools and direct market access. However, the high minimum deposit and monthly maintenance fee might be a barrier for new traders who are just starting.
Overall, if you’re an experienced trader with a significant amount of capital to invest, Cobra Trading is a platform worth considering.
