So after suretrader being responsible for really bad executions and software just plain being frozen on you for 1-2-3 hours straight, let alone you won't be able to exit premarket from your position (yet when you start losing money your software starts to mend itself) there is still more to be added to their list of fails:
For suretrader when you are trying to buy a stock under 2.50, you need an additional 2.50 in your account.
This is BUYING (not shortselling which is acceptable due to margin requirements)!
So say you buy 1000 shares at $1, you will need 3500 in your account (so that is 1000 * $1.00 plus 1000 * $2.50).
This is total bollocks, I think.
Imagine you wanna buy something (on any freaking exchange) for $0.1 because it is going like the clappers? You would probably buy 20000 shares for a small position. That would cost 20000 * 0.1 + 20000 * 2.50 = 52000 USD for a 2000 USD position!!!!!
This is a new rule, they somehow were not too clear on communicate it but I raised absolute havoc in chat and they told me it is on their website.
Why are they still in business after hearing them constantly trading against their clients and all the routing fees and the rest of the nonsense???
Such a shame :(