Required Minimums

Required Minimums

Low cost, online trading technology platform.

Balance

The following minimums are required to open an account 1:

Category Required Deposit
Individual Accounts (unless listed below) USD 5,000 (or non-USD equivalent)
IRAs 3 USD 5,000 (or non-USD equivalent)
Individuals age 25 or younger USD 3,000 (or non-USD equivalent)

Notes:

  • To trade a margin account you must maintain at least USD 2,000 or non-USD equivalent.
    For details on margin requirements, see the Margin page.
  • Pattern Day Traders have higher minimum requirements, which are defined in the Day Trading section of margin requirements.

Monthly Activity

As Venom by Cobra Trading caters to active professional traders and investors, we require that each account generate a minimum of commissions per month. Accounts generating commissions less than the minimum as stated below in any given month will be assessed the difference as a monthly activity fee (Activity Fee = Minimum Required Monthly Commission – Actual Monthly Commission). Please note that the monthly activity fee is based on commissions only, and does not include fees related to third-party assessments such as market data subscriptions or order modification/cancellation fees.

 

In addition to monthly fee minimums, we pass through market data fees from the exchanges for any real-time market data service in which a client subscribes. Clients choosing to subscribe to US non-professional real-time market data will have the USD 10 (or non-USD equivalent) monthly market data subscription fee waived if they spend USD 30 (or USD equivalent) or more in commission for the month.

Account Structure Monthly Activity Fee 4 Waiver
Single Accounts, Individuals and Small Businesses

unless any of the following criteria exist:

 Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 10.

If monthly commissions are less than USD 10, Standard Activity Fee = USD 10 – commissions.

Example:
Monthly commissions = USD 6
Standard Activity Fee = USD 10 – USD 6
Standard Activity Fee = USD 4

 The first three full calendar months 10

or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)
Average Equity Balance is less than USD 2,000 5

or

A balance is maintained in a closed account

 Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 20.

If monthly commissions are less than USD 20, Activity Fee = USD 20 – commissions.

Example: Monthly commissions = USD 11 Activity Fee = USD 20 – USD 11 Activity Fee = USD 9

 Not applicable.
UGMA/UTMA Accounts Monthly Activity Fee = 0 if monthly commissions are equal to at least USD 10.

If monthly commissions are less than USD 10, Standard Activity Fee= USD 3

 The first three full calendar months 10

or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

Disclosures:

  1. Accounts that show no balance will be closed. To reactivate an account that has been closed for having no balance, a new account deposit of USD 10,000 or non-USD equivalent is required.
  2. Because of contribution limits, IRA accounts will only be required to deposit USD 5,000 in order to open a new account. In addition, US Regulators require USD 25,000 (or non-USD equivalent) to Day Trade stocks and options.
  3. The non-USD equivalent for all USD values is also acceptable.
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