Venom Trading is an American brokerage established in 2004. This Broker offers only one account [IRA] with $5000 minimum deposit! Because of SEC license, Maximum leverage in this broker is 1:4 and you can use it to trade equities, options, futures and forex.
Venom Trading Company Information & Regulation
Venom Trading, a subsidiary of the well-established Cobra Trading, Inc., has quickly made a name for itself in the world of online brokerage.
Venom Trading is an American company launched in 2004 and registered by SEC
This innovative platform run by CEO “Chadd Hessing” and offers a smorgasbord of financial instruments, including equities, options, futures, and forex. But what really sets Venom Trading apart is its rock-solid regulatory foundation. Venom Trading's Regulatory Credentials:
- Registered with the SEC (Securities and Exchange Commission);
- Member of FINRA (Financial Industry Regulatory Authority);
- Member of NFA (National Futures Association);
- Member of SIPC (Securities Investor Protection Corporation).
This impressive lineup of regulatory affiliations should give traders peace of mind, knowing their funds and personal information are in safe hands.
Summary of Specifications
Let's dive into the nitty-gritty of what Venom Trading has to offer as a broker in the biggest financial market of the world:
Broker | Venom Trading |
Account Types | IRA |
Regulating Authorities | SEC, FINRA, NFA, SIPC |
Based Currencies | USD |
Minimum Deposit | $5000 [$3000 for Under 25s] |
Deposit/Withdrawal Methods | Check, Wire Transfer, ACH transfer from your bank, or Online Bill Pay |
Minimum Order | 0.01 |
Maximum Leverage | 1:4 |
Investment Options | None |
Trading Platforms & Apps | Desktop, Mobile, Web |
Markets | Equities, Options, Futures, Forex |
Spread | No Information Provided |
Commission | 0.20 Basis Points for Forex, $0.004 Per Share for Equities, $1.25 Per Contract for Futures And $0.75 for Options |
Orders Execution | Market |
Margin Call/Stop Out | No Information Provided |
Trading Features | 1:4 Maximum Leverage, $5000 Minimum Deposit, SEC Regulated, Indoor Meeting Support |
Affiliate Program | No |
Bonus & Promotions | No |
Islamic Account | No |
PAMM Account | No |
Customer Support Ways | Indoor Meeting, Phone Call, Email, Ticket |
Customer Support Hours | Monday to Friday: 7AM to 4:30PM |
What Are Venom Trading Account Types?
Simplicity is the name of the game when it comes to Venom Trading's account structure. Unlike some brokers more than one account types, Venom Trading keeps it refreshingly straightforward with just one live “IRA” account option. Venom “IRA” Account Features:
- Minimum deposit: $5,000 ($3,000 for traders under 25)
- Instruments: Access to all available instruments (equities, options, forex, futures)
- Extended trading hours: 6 am – 8 pm EST
- Leverage: Up to 1:4;
- Commission: 0.20bps per trade value.
This one-size-fits-all approach means you don't have to worry about missing out on features or getting stuck with an account that doesn't meet your needs.
Venom Trading Broker Sign Up: Easy Registration Guide!
Ready to take the plunge with Venom Trading? Here's a step-by-step guide to getting started:
- Visit the Venom Trading website and click "Open An Account";
To start registration process, click on “Open An Account” - Fill out the application form with email address, username, password and country of residence;
- Confirm your email address;
- Upload the required documents for verification such as proof of address and proof of identity;
- Wait for account approval (typically up to 2 business days);
- Fund your account using one of the available methods.
Once your account is approved and funded, you're ready to start trading!
Does Venom Offers its Proprietary Platform?
Venom by Cobra Trading understands that modern traders need flexibility, which is why they launched their proprietary platform:
Venom Mobile
Perfect for traders on the go, this iOS and Android app lets you monitor symboassets and execute trades from your smartphone or tablet.
Venom Desktop
The heavyweight champion of Venom's platform lineup, this downloadable software packs a punch with its customizable layout and advanced features.
Venom Web
For those who prefer a no-fuss, browser-based solution, Venom Web delivers a clean interface without sacrificing functionality.
Although these platforms offer real-time data, advanced charting tools, and one-click trading capabilities but MT4, MT5 and cTraders are the industry standard platforms and you can’t use them in Venom.
Spreads and Commissions
As we mentioned earlier in the Venom Trading Review article, one of the weaknesses of this broker is the lack of information in some areas, including the spread.
Thus, there is no information about their spread rate, but you can see the commission fee in the bullet points below. Venom Trading Commissions:
- Equities: $0.004 per share (minimum $1 per trade)
- Options: $0.75 per contract
- Futures: $1.25 per contract per side
- Forex: 0.20 basis points (bps) per trade value (minimum $2 per trade)
What Are the Payment Methods of Venom Trading Broker?
Venom Trading offers a variety of options for moving money in and out of your account:
- Check
- Wire transfer
- ACH transfer from your bank
- Online bill pay
Noticed the difference? Unlike many brokers such as Intertrader, FxPro or Exness, you can’t use modern payment methods [PayPal, Crypto, VISA, MasterCard, etc] in this broker.
Is Copy Trading Available?
As of the time of this review, Venom Trading does not offer copy trading or social trading features. Their focus is primarily on providing a robust platform for self-directed trading across multiple asset classes.
Does Venom Trading Offer Bonuses and Promotions?
Venom Trading does not offer any bonuses or promotions. While this might seem like a downside, it's worth noting that many reputable brokers avoid offering bonuses due to regulatory constraints and a focus on providing value through competitive pricing and quality services rather than promotional gimmicks.
Customer Support
Venom Trading takes customer support seriously and it’s one of their pros; They offer multiple channels for clients to get in touch:
- Indoor meetings: at their office in Carrollton, TX
- Phone Call: Toll-free (877-792-6272) and direct (972-491-7999)
- Email: info@cobratrading.com
- Ticket system: Available in the website
- Fax: 972-491-3111
Their support team is available Monday to Friday, from 7AM to 4:30PM (presumably Central Time, given their Texas location). Although they are not available 24/7 but support team performance is so good and they answer the questions without delay.
Venom Trading Broker Trust Scores
Venom Trading doesn't yet have a significant presence on major review platforms like Trustpilot or ForexPeaceArmy. This lack of trust scores might be a red flag for some of the traders. If it changed in the future, we will update this page to inform you.
TradingFinder Expert Conclusion and Final Words
Venom Trading offers low commission [0.20 basis points for forex e.g] and has its own proprietary trading platform for desktop, mobile and web. On the other hand, it does not offer some features such as copy trade, high leverage, and deposit bonuses.
