Cobra
Pros and Cons
Pros
- Specializes in equities and options trading
- Offers demo accounts for practice
- Multiple trading platforms available: DAS Trader Pro, Sterling Trader Pro, TradingView
- Customer support accessible via phone and email
- High minimum deposit requirement may indicate serious trader intentions
Cons
- Not regulated by any recognized financial authority
- High minimum deposit requirement of $30,000
- Limited trading instruments primarily focused on equities and options
- Potential risks associated with unverified regulatory status
- Customer support availability during standard business hours only
Basic Information
User Reviews
Cobra Overview
Cobra Trading, Inc, founded in 2018, is a forex broker headquartered in the United States. It operates in a competitive environment, having been in business for approximately 5-10 years. While Cobra is associated with the National Futures Association (NFA), it is important to note that its regulatory status is unverified, which may raise concerns among potential traders regarding the credibility and safety of their trading activities.
Cobra specializes in equities and options trading, providing a selection of trading platforms including DAS Trader Pro, Sterling Trader Pro, and TradingView. The broker supports various trading instruments and offers demo accounts for practice. Customer support is accessible via phone and email, providing assistance to traders. However, the high minimum deposit requirement of $30,000 may be a barrier for some traders. Despite its offerings, prospective users should carefully consider the unverified regulatory status and associated risks before engaging in trading activities with Cobra.
Is Cobra Safe? Regulation Analysis
Regulatory Information
Cobra Trading, Inc. is not regulated by any recognized financial authority. Its association with the National Futures Association (NFA) is noted, but the regulatory status is unverified. This raises concerns about the credibility and safety of trading with this broker.
Is Cobra Regulated and How Are Client Funds Protected?
Traders should be aware that trading with an unregulated broker like Cobra can pose significant risks. The absence of regulatory oversight means there are no established investor protection measures in place. This increases the potential for fraud and other risks associated with trading activities. Prospective users should proceed with caution and consider these factors before engaging with Cobra.
Trading Products and Services
What trading instruments does Cobra offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | [Major Pairs / Examples] | [Number] |
| Commodities | [e.g. Gold, Oil] | [Number] |
| Indices | [e.g. S&P 500, NASDAQ] | [Number] |
| Stocks | [e.g. US, UK] | [Number] |
| Cryptocurrencies | [e.g. BTC, ETH] | [Number] |
Cobra Trading offers a range of trading instruments primarily focused on equities and options. Although the broker’s offerings are somewhat limited, they cater to various types of traders, including both beginners and professionals. With the availability of equities and options, traders can engage in different strategies that suit their investment styles. The presence of multiple asset categories allows for greater portfolio diversification, enhancing flexibility in trading strategies. Traders should be mindful of the broker’s unique features and consider their personal trading needs when selecting instruments to trade.
Account Types and Trading Conditions
What Account Types and Fees Does Cobra Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | Access to basic trading instruments | Suitable for small-capital practice |
| Professional Account | Experienced traders | Higher leverage and customized services | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Tailored solutions for business trading | Requires corporate documentation |
| Demo Account | All traders | Practice trading without real funds | Accessible to all users for skill development |
Account Opening Process
To open an account with Cobra, users must submit personal, employment, and financial information. This process includes identity verification, which requires providing an ID and proof of address. There is flexibility in account types, allowing traders to upgrade to a professional account as their trading experience and needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Equities | N/A | From $0.0015 | Competitive pricing for stocks |
| Options | N/A | From $0.30 | Standard rates for options trading |
Other Fees
Traders should be aware of the following additional costs: deposit and withdrawal fees may apply depending on the payment method used. Inactivity fees could be incurred if accounts remain dormant for extended periods. Platform usage fees are not specified, and overnight interest (swap rates) may apply for positions held overnight. Currency conversion fees may also be applicable for trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Cobra Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| DAS Trader Pro | Windows | 2FA, symbol lookup, one-click trading, price alerts, technical indicators | Demo account available |
| Sterling Trader Pro | Windows | Encryption, multiple order types, push notifications, economic calendar | Demo account available |
| TradingView | Web, iOS, Android | Biometrics, market search, real-time alerts, technical analysis tools | Demo account available |
Cobra offers a selection of trading platforms tailored for different user preferences. DAS Trader Pro and Sterling Trader Pro provide robust features primarily for Windows users, including advanced security and order execution capabilities. TradingView supports multiple devices, allowing for flexibility and on-the-go access. All platforms emphasize secure logins and offer demo accounts for practice, along with real-time alerts and efficient market search tools, making them suitable for various trading styles.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Wire Transfer | 3–5 business days | No platform fee | Min $30, Max $100,000 | USD |
| Credit/Debit Card | Instant | No platform fee, but 2.5% charge for international cards | Min $30, Max $50,000 | USD |
| Cryptocurrency | Instant | No platform fee | Min $30, Max $20,000 | BTC, ETH |
Minimum Deposit
Cobra Trading requires a minimum deposit of $30,000. This amount is consistent across all account types and payment methods, which may pose a barrier for some traders.
How to Withdraw
- Log into your Cobra Trading account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Review and confirm the withdrawal details.
- Submit your withdrawal request.
Customer Support
Cobra Trading Customer Support Overview
Support Channels
Cobra Trading provides several customer support options to assist traders effectively. Users can reach out through the following methods:
- Email: Traders can contact support via email at info@cobratrading.com for any inquiries.
- Telephone: For immediate assistance, customers can call the support team at +1 877-792-6272.
Service Availability
The customer service team operates during standard business hours. While specific hours are not detailed, traders can expect timely responses during these times. It’s important to note that multilingual support is not explicitly mentioned, so English may be the primary language for communication.
Frequently Asked Questions
Cobra Trading, Inc. is not regulated by any recognized financial authority. Its association with the National Futures Association (NFA) is noted, but the regulatory status remains unverified. This lack of regulatory oversight raises concerns about the safety and credibility of trading with Cobra, as there are no established investor protection measures in place.
Cobra Trading primarily specializes in equities and options trading. Although the offerings are somewhat limited, they cater to various types of traders, allowing for different strategies that suit individual investment styles. Traders should consider their personal trading needs when selecting instruments to trade.
Trading fees on Cobra include commissions for equities starting from $0.0015 and for options starting from $0.30. Additionally, traders should be aware of other potential costs such as deposit and withdrawal fees, inactivity fees for dormant accounts, and overnight interest rates for positions held overnight.
Cobra Trading provides customer support via email at info@cobratrading.com and by phone at +1 877-792-6272. The support team operates during standard business hours, and while specific hours are not detailed, traders can expect timely responses during these times.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.