Venom Trading Review

Category: Reviews | Author: Trading Brokers | Date: January 30, 2024

Venom Trading positions itself as a broker that provides traders access to stocks, options, futures, and forex. With their slogan “Big Broker Technology, Small Company Service,” they aim to combine robust trading platforms with personal customer support. In this review, we’ll take a close look at Venom to see if their technology and service live up to their claims. We’ll check out their regulation status, trading platforms, educational resources, account types, funding options, and more. By the end, you’ll have a solid understanding of what Venom offers and whether they are a good fit for your trading needs. There seems to be some debate around regulation and potential risks with Venom, so we’ll pay careful attention to those areas. So strap in as we dive into this Venom Trading review!

Pros & Cons

  • Provides a trading platform accessible from any device with no software fee
  • Offers a variety of educational resources including articles, live news feeds, a glossary, and videos
  • Offers a variety of trading assets such as equities, options, futures, and forex
  • No $0 commission
  • Higher-than-average risk
  • No trading of foreign stocks
  • Large minimum account balance

Summary 

Venom Trading

Venom Trading

Venom Trading, with its slogan “Big Broker Technology, Small Company Service,” offers a variety of trading assets such as equities, options, futures, and forex. They aim to provide the best products, service, and pricing in the trading industry. Their platform, which comes with no software fee, is accessible from any device, allowing you to trade from any location. They offer three types of live trading accounts: Individual, IRA, and for Individuals age 25 or younger, with a minimum deposit of $5,000 USD (or $3,000 USD for those 25 or younger).

Venom Trading provides a range of educational resources, including articles, live news feeds, a glossary, and videos, to help traders of all levels improve their trading skills and knowledge. In terms of markets, Venom Trading offers a variety of instruments, including US stocks, bonds, ETFs, options, futures, and forex. When it comes to funding, Venom Trading allows one free withdrawal request per calendar month and offers several methods for funding your account, including Check, Wire Transfer, ACH transfer from your bank, or Online Bill Pay. Overall, Venom Trading aims to provide an exceptional trading experience by offering a combination of advanced technology, a variety of trading assets, and dedicated customer support.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

They’re a subsidiary of Cobra Trading, which gives them some credibility. Your account with Venom is insured through Cobra Trading, Inc., a member of the Securities Investor Protection Corporation (SIPC). This means securities customers of SIPC members are protected up to $500,000, including $250,000 for claims of cash. However, it’s important to note that SIPC coverage doesn’t protect against market loss.

Venom Trading is regulated by the Financial Industry Regulatory Authority (FINRA). This is inferred from the fact that Venom Trading is a division of Cobra Trading, Inc., which is a member of the Securities Investor Protection Corporation (SIPC). SIPC membership is limited to broker-dealers that are members of FINRA. Therefore, by extension, Venom Trading, as a part of Cobra Trading, falls under the regulatory oversight of FINRA.

Venom Trading is regulated by the Securities and Exchange Commission (SEC) and is a member of the National Futures Association (NFA). As a broker-dealer, Venom Trading is subject to various regulatory requirements, including SEC Rule 606 of Regulation NMS, which mandates that broker-dealers make their order routing practices publicly available on a quarterly basis.

The disclosures required under this rule are generated and reported by Interactive Brokers on behalf of Venom Trading, indicating that Venom Trading clears its trades through Interactive Brokers. If you’re one of those folks who prefer to stick with regulated brokers, don’t sweat it. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Venom Trading hooks up traders with a trio of platforms to suit different styles and needs. For those always on the move, Venom Mobile is the go-to, letting you trade from your Venom account on any iOS or Android device. It’s all about trading on the fly without missing a beat. If you’re more of a desktop warrior, Venom Desktop has got you covered.

Venom Trading Platforms

Venom Trading Platforms

This platform is the powerhouse, offering a customizable layout where you can trade stocks, options, forex, and futures all from one account. It’s the full package for those who like their trading setup just so. And for those who like to keep things simple, Venom Web is your friend. It’s a clean, easy-to-learn interface that doesn’t skimp on the advanced features and tools you need to make informed trades.

Now, let’s talk tools. Venom Trading offers a few nifty ones to help you stay on top of your game:

  • Economic Calendar: Keep track of important financial events that could impact the markets. It’s like having a financial crystal ball, giving you a heads-up on what’s coming down the pipeline.
  • Calculator: Whether it’s figuring out potential profits or losses, or just doing some quick math, the calculator is an essential tool for any trader.
  • Charting Tools: These are the bread and butter for technical traders. Venom’s charting tools let you analyze market trends and patterns, so you can make trades based on more than just a hunch.

Each of these tools is designed to give you an edge in the fast-paced world of trading. Whether you’re crunching numbers or plotting your next move, Venom’s got the tech to help you out.

Education

Venom Trading doesn’t just give you the tools to trade, they also provide resources to help you learn the ropes and stay informed. Their educational offerings are a mix of articles, live news feeds, a glossary, and videos.

  • Articles: The articles on Venom Trading cover a range of topics, from the basics of trading to more advanced strategies. They’re a great way to get a deeper understanding of the trading world.
  • Live news feeds: These keep you updated on the latest market happenings. It’s like having a financial newsroom at your fingertips, helping you make informed decisions based on current events.
  • Glossary: The glossary is a handy tool for newbies and seasoned traders alike. It’s a comprehensive list of trading terms and jargon, so you’ll never be left scratching your head over what a particular term means.
  • Videos: These short clips are designed to get you up to speed quickly with Venom’s platforms and account management features. They’re like mini tutorials that you can watch at your own pace.

So, whether you’re a trading newbie or a seasoned pro, Venom’s educational resources have got something to help you up your trading game.

Markets

Venom Trading offers a pretty diverse range of markets for traders to dive into. Whether you’re into stocks or forex, bonds or futures, they’ve got you covered.

  • US Stocks: Venom Trading gives you access to the US stock market, where you can trade shares from companies big and small. It’s like being in the heart of Wall Street, right from your living room.
  • Bonds: If you’re more into the steady world of bonds, Venom’s got your back. You can trade a variety of bonds, providing a nice balance to the more volatile stock market.
  • ETFs: Exchange-traded funds (ETFs) are a popular choice for many traders, and Venom Trading offers a range of these to choose from. ETFs can give you exposure to a whole sector or market with a single trade.
  • Options: For those who like a bit more strategy in their trading, Venom Trading offers options trading. This allows you to speculate on the future price of assets, adding a different dimension to your trading.
  • Futures: If you’re looking to hedge your bets or speculate on future prices, you can trade futures with Venom. It’s a more advanced form of trading but can be a powerful tool in the right hands.
  • Forex: For those who like to trade on the global stage, Venom Trading offers forex trading. This lets you trade currencies from around the world, 24 hours a day.

So, no matter what kind of trader you are, Venom Trading has a market that fits your style.

Accounts

Venom Trading offers three types of live trading accounts, each tailored to different types of traders.

  • Individual account: This is your standard trading account, perfect for most traders. The minimum initial deposit to start an Individual account is $5,000 (or non-USD equivalent).
  • IRA account: This is for those who want to trade within an Individual Retirement Account. It’s a great way to potentially grow your retirement savings while enjoying the thrill of trading.
  • Individuals age 25 or younger account: Finally, for the young guns out there, Venom offers an account for Individuals age 25 or younger. The minimum to open this account is a bit lower, at $3,000 (or non-USD equivalent). It’s a great way for younger folks to get their feet wet in the world of trading.

Venom also offers demo accounts for those who want to practice their trading strategies without risking real money. One important thing to note: if you’re day trading, you must maintain a minimum equity of $25,000, as required by FINRA Rule 4210. This is a standard rule across most brokers, designed to protect traders from getting in over their heads. So, whether you’re a seasoned trader, a retirement saver, or a young buck looking to make your mark, Venom Trading has an account to suit your needs.

Funding

When it comes to funding your Venom Trading account, they’ve got a few options to make it as easy as possible. You can fund your account by Check, Wire Transfer, ACH transfer from your bank, or Online Bill Pay. It’s all about giving you the flexibility to fund your account in the way that works best for you. The minimum deposit to open a Venom Trading account is $5,000.00 USD, but if you’re age 25 or younger, the minimum to open an account is $3,000 USD.

Just remember, if you’re day trading, you need to maintain a minimum equity of $25,000.00 USD, as required by FINRA Rule 4210. When it comes to withdrawals, Venom allows one free withdrawal request per calendar month. This is a nice little perk that can save you some fees over time. Unfortunately, more specific information about deposit and withdrawal methods isn’t readily available on Venom’s website at the time of writing this review. It’s always a good idea to reach out to their customer service for the most up-to-date information.

Conclusion

So, there you have it, a deep dive into Venom Trading. They’ve got a lot going for them, from a range of trading platforms to a variety of markets and educational resources. But it’s also important to remember that while Venom Trading has some strong features, there are other brokers out there with longer track records that might be worth considering. The lack of clear regulatory information is something to keep in mind, and it’s always a good idea to do your own research and consider your own trading needs and risk tolerance. For additional choices, we encourage you to explore our trading broker reviews. At the end of the day, trading is all about finding the right fit for you. Whether that’s Venom Trading or another broker, the most important thing is that you feel confident and secure in your trading decisions.

Venom Trading Logo

$5000

Venom Trading, a division of Cobra Trading, Inc., offers traders the ability to trade stocks, options, forex, and futures from a single platform. The firm provides access to the Trader WorkStation (TWS) platform, along with mobile and web-based trading options.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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Trading Brokers
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