General Information
The slogan of Venom is “Big Broker Technology, Small Company Service”. Venom presents itself as an American broker that provides active traders with various trading assets, such as equities, options, futures and forex, as well as the best products, service, and pricing in the trading industry. It also hypes that it offers a trading platform with no software fee, a low $5,000 account minimum and state of the art trading tools.
Market Instruments
Venom advertises that it offers a variety of trading instruments, including US stocks, bonds, ETFs, options, futures, forex and more.
Account Types
There are three live trading accounts offered by Venom, apart from demo accounts namely Individual, IRA and Individuals age 25 or younger. The minimum initial deposit to start a account is $5,000 (or non-USD equivalent). However, if you are age 25 or younger, the minimum to open an account is $3,000 (or non-USD equivalent). It is very important to note that if you are day trading, you must maintain a minimum equity of $25,000, as required by FINRA Rule 4210.
Leverage
No information about leverage is directly available on Venoms website at the time of writing this review. Keep in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Commissions apply to all order types. More specific information about spreads and commissions can be found on Venoms website.
Trading Platform Available
When it comes to trading platforms available,Venom gives traders three choices: Mobile, Desktop and Web. Venom Mobile provides a family of mobile solutions that allow traders to trade from their Venom trading account on the go from just about any iOS and Android mobile device. By contrast, Venom Desktop allows traders the ability to create a fully customized layout capable of trading stocks, options, forex, and futures from a single account, and Venom Web is the perfect solution for traders who prefer an uncluttered, easy-to-learn trading interface but still want to use advanced trading features and tools.
Deposit & Withdrawal
Venom allows one free withdrawal request per calendar month. Other specific information about deposit and withdrawal cannot be found directly on Venoms website at the time of writing this review.
Customer Support
Venoms customer support can be reached through telephone: +8777926272 (toll free), 9724917999 (direct), fax: 9724913111, email: info@cobratrading.com or live chat. Company address: 3008 E. Hebron Pkwy, Building 400 Carrollton, TX 75010.
