Cobra trading is a sophisticated direct access broker designed to fit the needs of institutional and retail traders. Note that futures trading with cobra is only available via venom. Overall Cobra is a quality broker for traders.
Founded in 2004 and currently headquartered in Plano, Texas, Cobra Trading is an online brokerage company that offers multiple direct access platforms for active traders.
Built from the ground up with a laser-like focus on providing the best trading tools and first class service to traders, Cobra Trading is committed to customer engagement with significant value.
Chadd Hessing founded Cobra Trading after trading equities since 1995. Before establishing Cobra Trading, Chadd Hessing worked at PaineWebber and American Express Financial Direct. Today, he is the current President and CEO of Cobra Trading.
At the helm of the direct access broker, Chadd Hessing has ensured traders have a great trading experience that is second to none. He has achieved this by providing direct access to Cobra Trading support staff. As a result, traders questions have been answered in a timely manner.
Cobra Trading Features and Services
To enjoy the features and services offered by Cobra Trading, you are required to open an account. At the time of writing, Cobra Trading offered two options:
- Online application
- Download forms
To access the registration form, click “Open an Account.” Start by selecting any one of the following accounts:
Once you select a suitable account, add the following details:
- Full name
Before moving to the next stage, complete the captcha challenge. In the next stage, you will be required to provide additional details.
If you choose the second option, you can download forms for a specific account, print, read, fill in the details, sign, date and send it back to Cobra Trading account representatives.
Alternatively, you can contact Cobra Trading support via live chat, mail or email. They will send an account opening packet to you.
Take your time to read the form available in the account opening packet, fill in your details, sign, date, and mail the packet back to Cobra Trading. Once your application has been verified and approved, you can fund your account.
Cobra Trading accepts check, wire or account transfer. With a funded account, you can begin trading.
What you ought to know is that you can transfer an account to Cobra Trading. For this to be possible, you require an Account Transfer form and the account statement for the account you are planning to transfer.
The Account Transfer form can be obtained from Cobra Trading by contacting one of their representatives. It takes 3 to 8 business days to complete the transfer depending with the broker currently holding your account.
Cobra Trading Platforms
As a direct access broker, Cobra Trading provides three trading platforms namely:
- Sterling Trader Pro
- DAS Trader Pro
- RealTick EMS – RealTick Express
Let’s take a look at each trading platforms.
As a result, traders can enjoy an exceptional trading experience. The trading software combines high performance with customization giving traders the option and power to execute trades and strategies at the click of a button. Some of its features include:
- Portfolio Management
- Hot Keys
- Stop Orders
- Stock Watch Lists
- Advanced Charting
- Basket Trading
- Access to Real-Time Level 2 Market Data
DAS Trader Pro is a trading platform that combines power features such as multi-instrument trading, portfolio management, and advanced analytics.
It also offers basket trading, multi-account management, advanced order types and charting to traders allowing them to take advantage of the markets and profit.
In addition, the platform also offers a simple and intuitive market data and order entry panels, customizable interface and real-time streaming news. Features include:
- Direct Access Order Routing
- Multiple Stop Types
- Real-Time Account Management
- Supports Multiple Monitors
- Advanced Charting with over 30+ technical studies
- Hotkey capability
- Ability to trade options and equities
Real-Time Market News and Market Scanner
RealTick EMS is an online trading platform that offers direct access research, delivers real-time market data, analytics and news. The trading system has state of the art trading tools and it’s supported by sophisticated data centers.
A lightweight version of the trading platform, RealTick Ultralite, is available and it’s packed with powerful features helping you track trades using your tablet or smartphone.
Cobra Trading Futures
You can now trade Futures using Venom Trading Division. Cobra Trading is a member firm of NFA and through Venom Trading, traders can also trade options, forex, and equities all from a single account. Venom Trading is a division of Cobra Trading which is also a member of SIPC.
Founded in 2004 with the idea of providing active traders with first-class services, Venom also provides a trading platform with no software fee. It has state of the art trading tools that help traders’ spot trends in markets and profit from them.
To trade futures, options, forex and equities via Venom, traders can do so via Trade Workstation platform which is available in two versions – web and mobile.
Cobra Trading Pricing
For a day trading account, the minimum amount required for United States residents is:
- $30,000 to open an account
- $25,000 as the minimum account balance. This must be maintained in each day trading account.
For non-United States residents, Cobra Trading charges as follows:
- $50,000 to open an account
- $25,000 as the minimum account balance. This amount must be maintained in each day trading account.
Investors and traders can fund their account by using a check, wire or account transfer. When it comes to commissions, Cobra Trading charges as follows.
Equities (per share)
- $0.004 – 0 to 250,000 shares per month
- $0.0035 – 250,000 to 1M shares per month
- $0.003 – 1M to 2M shares per month
- $0.002 – 2M to 10M shares per month
For traders trading over 10M per month, they can contact Cobra Trading support to get a customized commission.
Options (per contract)
- $0.50 – 0 to 2,000 contracts per month
- $0.40 – 2,001 to 10,000 contracts per month
- $0.30 – Over 10,000 contracts
When it comes to software fees for trading platforms, Cobra Trading bills as follows:
- DAS Trader Pro – $125/month which can be waived if you trade $250,000 shares every month
- Sterling Trader Pro – $200/$230/month with options which can also be waived if you trade 300,000 shares every month
- RealTick Express – $200/month which can be waived if you trade 300,000 shares every month
- RealTick PRO – $350/month which can be waived if you trade 500,000 shares every month
All software fees are billed the following month once volumes are calculated. If a trader cancels his or her software subscription, current and next month charges will apply.
As a direct access broker, Cobra Trading provides sophisticated trading tools to individual and institutional traders to help them spot trends early and place trades finally making profits from the market.
With access to state of the art data centers, traders can trade options, equities, and forex. Each trading system is compatible with the following platforms – web, and mobile.
By using the mobile version, traders have the opportunity of tracking their trading activity, managing their account and placing orders when on the move.
Each trading platform has a demo version where traders can place trades in a simulated environment without risking their capital.
Some of the drawbacks we encountered as we compiled the Cobra Trading review include lack of a mobile app that would complement each web trader, a minimum balance of $25,000 for both non-US residents and US residents is required.
Also, Cobra Trading does not offer futures trading. This is only available via Venom.
Overall, Cobra Trading offers industry leading customer service delivered by a team of knowledgeable staff.