CenterPoint is one of the leading brokerage platforms in the industry! Over the years of its operation, the platform has established itself for active traders who require global access to tools, advanced support, and services to execute trading strategies. It also provides its customers with advanced trading platforms and responsible customer service.
Besides, the platform also offers high-speed brokerage that primarily serves professional traders. It affiliates the products, services, and partnerships to manage its business. It is a top-tier broker for high-volume equities traders. In addition, users signing up for the platform can access fast-moving day trading securities.
But is CenterPoint Securities the right platform for you to get started? First, let’s check out the different aspects of this comprehensive broker review!
Pros
- The platform provides its customers with dependable and accessible customer service.
- It has access to advanced tools to assist traders in making the most of the platform.
- Users signing up for the platform can access flexible order routing for improved platform performance.
- The broker discounts active traders while offering advanced operations with fast executions.
Cons
- The platform is limited to professional traders who understand the ins and outs of the industry.
CenterPoint Nation At A Glance
| Founded | 2012 |
| Headquarters | Del Campo Ct, San Diego, California, United States, |
| Employees | 10-50 |
| Industry | Finance |
| Customer support | 24/5 |
| Supported countries | Globally |
| Website | https://centerpointsecurities.com/ |
CenterPoint Security: Company Overview
CenterPoint, the division of Precision Securities, is a member of both SIPC and FINRA. This brokerage firm was founded in 2000 and primarily serves professionals and highly experienced traders.
CenterPoint makes trading easy for its active traders. It not only provides discounts on high-volume trades but also provides advanced trading tools and market data. This platform offers its traders quick executions. In addition, it assists traders in developing optimal strategies and provides advanced routing.
Although this platform is only available to professionals and those with a high net worth, they have a good reputation for providing excellent customer service and an excellent need for advanced tools.
This platform provides traders with direct market access, premium products and services, and good routing options, allowing clients and traders to access the industry’s leading trading conditions.
Pricing plans have a wide range of flexibility. The customer support team can also provide customized trading solutions and offer the same dedicated products to all traders, regardless of investment size or experience.
Key Features Of CenterPoint Security
CenterPoint security is a feature-limited investment platform. It is specifically built for high-volume traders; it offers a good trading screen and a toolkit. In addition, the platform only supports stocks, ETFs, and options. In this system, the traders cannot afford asset that completes a long-term portfolio, such as bonds and mutual funds.
Options To Short Shares
Short locate is one of the highlights of the CenterPoint brokerage platform! An option limited to simplifying the operations of advanced users; the option to shortlist allows advanced users to short sell their sales via automation.
A short list is the collection of sorts available to borrow from the broker or the third party. In short, CenterPoint Security manages to borrow stocks (that are difficult to short) from the third parties that will lend stocks to CenterPoint Securities. This makes the platform an excellent resource for investors that look to short a large number of stocks.
Flexible Commission Rates
Next up, the flexible commission rates make the platform one of the most compelling options for traders. CenterPoint has workable plans, low commission rates, and high-end traders’ competitive tiers. For example, users signing up for the platform have a pay-per-ticket plan which the plan starts at $5.95 and values as low as $3.95.
Although the cost of trading with CenterPoint Securities is high compared to other brokerage firms, for high-end traders, the fees and the cost of doing business are normal. This way, users of all strengths can make the most of their trades while saving on volumes.
Seamless & Intuitive UI
The intuitive UI of the CenterPoint is another reliable feature of the platform. Users signing up for the platform get access to a clean trading experience via the great console. In addition, it brings out the most helpful charting tools and features in active trade.
These tools greatly help users of every type as they can make the most of their upcoming trades. In addition, CenterPoint Securities has an open free trial. If you have available funds, you can open a margin account to try one of the platforms.
Flexibility Across Different Platforms
The platform’s flexibility makes CenterPoint one of the most reliable core features. The platform welcomes users with various flexible options with the trading platforms. This way, CenterPoint takes over the platform’s routing aspect, giving you the chance to take the lead on the inefficiencies in the market that the average trader does not have.
In addition, the broker also allows two types of desktop platforms i.e., Das Trader Pro and Sterling Trader Pro. Both platforms offer a reliable trading platform. However, unlike Das Trader Pro, sterling Trading pro has a professional trading platform.
Trading Platforms & Tools
Users signing up for CenterPoint Securities can access three different professional trading platforms: Sterling Trader Pro, DAS trader pro, and CenterPoint Trader. However, the only issue is that none of these platforms are free. But if the trader is a high-volume trader, this will not be an issue, but for investors, it will be a huge deal.
- CenterPoint Trader: This platform provides level 2 market data, including customizable hotkeys, advanced charting, customizable order entry, custom alerts, mobile application to keep the trading account on the go. Unless the trade is made more than 2,00,000, the cost of the CenterPoint Trader is $100 per month.
- Sterling Trader Pro: Next up, it’s the Sterling Trader Pro, a platform designed to trade equity. This platform allows users to customize their options, making it a favorite among seasoned professionals. You can also design your algorithmic boats and indicators using the API, portfolio management, basket trading, real-time hotkeys, level ll market data, and advanced charting, among other features.
Unless a trade is made of more than 50,000 shares throughout a month, in which case you are eligible for reimbursement of the monthly fees, Sterling Trader Pro costs $250 a month. The traders will not select this platform unless they are committed to their positions’ volume and spread.
- DAS Trader Pro: Lastly, we have the DAS Trader Pro, the console that allows users to access order routing with seamless executions. Users signing up on the platform have multiple monitor support, real-time account management, and multiple stop types on offer. Besides, there are multiple customization options to it as well. The cheapest platform provides customers with the necessary tools to make money.
The tasks are already distributed across multiple windows, but you can move them around the platform if you don’t like how they’re organized. You will also have access to level II quotes, which display data from multiple venues such as the NYSE, NASDAQ, BATS, and Direct Edge.
RealTick
It’s the most expensive but most powerful trading platform on CenterPoint. The pro edition plus data feed is $505 paid every month. However, an Express version is less expensive and includes time, sales data, and hotkeys.
Both the Pro and Express editions include scanning tools and watch lists; however, the watch list symbols in the Express edition are limited to 100. The mobile app features, API functionality, and the ability to stream financial news distinguish the Pro edition.
Additional Features Of The Platform
- Multiple-tier Pricing: Traders signing up for the CenterPoint exchange have access to multi-tier pricing that allows them to make the most of their trades as per their proficiency.
Here’s an overview of the different plans:
- Standard plan: It is the cheapest and designed for active day traders. It charges between $0.002 and 0.004.
- All-in-all plan: is centered on all the institutional traders. It charges between$0.0055 and $0.0045.
- Ticket plan: Lastly, we have the Ticket plan, which is accessible to users who sign up for it and have to pay between $3.95 to $5.95. This option unlocks multiple aspects of trading via advanced charting tools.
The traders trading more than 4,000,000 shares monthly are offered the fee reduction in all these three schedules.
- Ease of account opening: Since CenterPoint Security is an online brokerage, it is customized towards the highest net worth investors, and the minimum deposit of this platform is very high. The industry broker can charge a minimum fee of $10,000 while opening an account. The CenterPoint Securities charges not less than $30,000.
- Tired software plans: CenterPoint Securities offers three software plans that must be paid monthly. They range from $120 to $150. However, if a trader meets the minimum trading volume from 300,000 to 1,000,000 shares, they can avoid these charges.
- Realtime customer services: CenterPoint Security has a simple and easy-to-reach Customer Service that functions between 7 AM EST to 5 PM EST, Monday to Friday. Along with email support for both the general and trading desks. For platform support, they have the option to connect to various trading platforms.
How Secure Is CenterPoint Securities?
CenterPoint Securities is a highly targeted platform. This is a trading platform designed for a specific group of investors. Its rates and minimum deposits exclude all but the wealthy, and its pricing structure emphasizes high-volume trading. As a result, the actual savings aren’t realized until you’ve traded more than 5 million shares of stock per month. At the same time, this platform is almost entirely based on two types of investing: short sales and day trading.
In other words, this is an investment platform designed for high-activity, high-risk professionals. It is aimed not only at institutions and people who do this for a living but also at a subset of investors who want to trade in the riskiest markets.
In addition to offering exceptionally competitive pricing and brokerage costs compared to other brokers, CenterPoint security is a stockbroker developed with the sophisticated trader in mind. They are renowned for providing outstanding customer service and the ability to lend their clients some difficult-to-borrow stocks. In addition, they are known for assisting traders in gaining a competitive edge.
It belongs to Precision Securities, a company that is a part of SIPC and FINRA. CenterPoint has been in business since 2000 and provides traders with knowledgeable and seasoned brokerage services. In terms of shorting stocks, they have been incredibly beneficial.
Fee Structure
The fee structure is another core feature users check out before signing up for a platform. Interestingly, for CenterPoint, the options are vast. The platform introduces us to four different levels of fees structure, all of which are discussed in the sections further,
Trading fees for CenterPoint are fixed, and users are charged based on total shares traded. So, for instance, users trading over 3 million shares per month will be attracting an overall fee of $0.004, including regulatory and routing fees per share.
Besides, the platform also has an “all-in plan” designed for clients with a company or an institution. Trades over this account attract charges at $0.0065 per share, even if they’re under 3 million monthly shares.
Other than that, the fee structure again varies for users over the DAS Trader Pro and Sterling Trader Pro. The platform drops the charges of using the platform if users trade over 200,000 to 500,000 shares per month.
Or, you can also sign up for the “per ticket plan,” where the platform charges $5.95 per trade for users trading below the 300,000 shares benchmark. Besides, options trading for CenterPoint starts at $0.65 per contract, going all the way to $0.20 if the number of trades increases.
Overall, while the trading fees and commission structure is common, CenterPoint has relatively high fees for traders who aren’t into active trading. Therefore, you might want to consider the overall quantity of trades you can take before signing up for the platform.
Account Opening With CenterPoint Securities
Opening an account in CenterPoint Securities is easy, all you need to do is follow the steps mentioned in the following section.
Step 1: Search for CenterPoint’s website on your desktop or device.
Step 2: Once you download it or come to their main landing site, you’ll see ‘open an account” at the top of your desktop screen.
Step 3: Complete the registration process, where you need to add your details and your id to verify your details and click on “register.”
Step 4: Choose the type of account you want, initial funding, link the payment methods, and add the relevant details.
Step 5: Add all the information, including your residential address (with proof), mailing address, and other details.
Upon completing the following steps, you will get a confirmation mail to the email account you’ve sent. After that, you can log in, then select your banking options; the instructions will appear, opening a new window and giving you directions.
CenterPoint Securities Vs. Competition
CenterPoint Securities stands out as a premier broker that caters to active, advanced traders or ones trying to be full-time traders. It is a fast, reliable platform that allows you to trade at an uninterrupted pace with a peaceful, stress-free mind. At Centerpoint Securities, the customer can customize every component of the platform, including styles, preferences, layouts, and settings in the customer’s interests.
However, similar to the platform’s pros, there are certain drawbacks concerning the advanced trading functionalities. Therefore, if CenterPoint Securities doesn’t look like an ideal fit to you, let’s compare its performance against one of its leading competitors TradeZero.
CenterPoint Securities vs. TradeZero
Both TradeZero and CenterPoint have a reliable customer base, backed by multiple features that streamline everyday for its users. However, similar to their features and reliability, the platforms also have a few differences to set them apart. Let’s take a closer look at these differences in the following section:
- Minimum deposit: TradeZero is available at a fixed price of $59 per month, whereas users signing up for CenterPoint Securities can select tiers per their expertise, giving them better flexibility.
- Customer Support: Both platforms are unique in their customer support approach. While CenterPoint Securities and TradeZero have a similar real-time approach, TradeZero takes the lead with its 24/7 availability.
- Beginner-Friendly: Even after all its complex features, CenterPoint Securities provides beginner-friendly learning materials for its users. On the contrary, there’s no such record of learning equipment on TradeZero.
Looking at the short but insightful review, it’s clear that CenterPoint Securities has its leverage over TradeZero. While both the platforms are equally competitive, CenterPoint wins this comparison.
Final Verdict
Should You Consider Using CenterPoint Securities?
- User-centered approach: The active traders over CenterPoint have the advantage of world-class charts and technical indicators explicitly built according to their needs and preferences. The traders are also provided options to choose from the dozen routes, and smart routers are inclusively used to improve the order of executions, primarily in terms of delivery and quality of the products.
- Access to professional platforms: CenterPoint Securities is a globally acclaimed stock broker known among advanced traders. The platform connects its users with numerous professional platforms, giving them access to pro trading charts and features.
- Lots of trading options: Once signed up, there are numerous trading assets to get started on CenterPoint securities. Not to forget, the platform also offers several features to make trading relatively effortless. Options like advanced shorting and light-speed trading make CenterPoint a reliable platform.
- Reasonable trading costs: Finally, the costs of trading at CenterPoint are fairly reasonable. However, it might only be okay for a limited number of traders, especially those invested in trading in high volumes.
Shortcomings Of CenterPoint Securities
Similar to the pros, there are some setbacks of the platform, some of which are discussed below:
- Can be costly for everyday traders: CenterPoint charges its users for providing them with market data. Besides, this is a necessary service, and there is no way you can say money on these packages that range from $15 to $228 per month.
This marks the end of our comprehensive broker review! Looking at the different aspects of the CenterPoint Securities review, it’s evident that the platform is an excellent choice for everyday traders. Besides, the platform provides reliable security measures and has a competitive fee structure for its users. However, like the pros, CenterPoint Securities also has its drawbacks.
Therefore, if you’re a beginner or prioritize a beginner-friendly exchange to start, CenterPoint might not be the ideal platform. So we suggest you look for another platform to sign up. All the best!
FAQs
Who is Centralpoint Security best suited for?
This broker is ideal for active traders who value better execution and want access to better shorts. It is best suited for active traders who demand access to advanced tools, services, and professionals. It is also known as a professional platform.
Is CenterPoint Securities' commission free?
No, although it does provide promotions to active traders. CenterPoint Securities offers per share commissions and lowers your fees when you reach each level. Most investors pay $0.001 per share and $ 0.20 for each option contract.
Which broker is best for short selling?
With the help of CenterPoint's cutting-edge technology, traders can implement the best possible strategy. It provides a platform with speedy trade execution, improved routing, and lower fees for high-volume traders. Additionally, CenterPoint offers resources for finding stocks and market feeds from numerous sources.