Frequently Asked Questions

Click on “Open an Account” in the menu bar and follow the instructions to open the account online. If you prefer, you may download the appropriate account application here: https://cobratrading.com/accounts/ or Cobra Trading can mail/email you an account opening packet. If you are a Non-United States resident please email info@cobratrading.com to request an account opening application.

Day-Trading Accounts

• United States residents:
  • $27,000 to open account
  • $25,000 minimum balance must be maintained in each day-trading account.
• Non-United States residents:
  • $30,000 to open account
  • $25,000 minimum balance must be maintained in each day-trading account.

Non Day-Trading/Below PDT (Less than $25,000)

Please visit https://www.venomtrading.com or contact us for information about our Venom by Cobra Trading brand which offers accounts with starting deposits of as little as $3,000.

Transferring an account from another firm requires an Account Transfer (ACAT) form and a copy of the most recent account statement for the account being transferred. You can obtain an ACAT form by contacting a Cobra Trading representative. These transfers typically take 3-8 business days to complete depending on which broker currently holds the account.

You may fund your Cobra Trading account by check, wire, or account transfer.

By Check: Please make check payable to “Wedbush Securities”. If you have been issued an account number please include it on the memo line of the check. If opening a new account, Cobra Trading will add the account number to your check. Please remember to include the check with your account paperwork when mailing everything to Cobra Trading.

Mail To:

Cobra Trading, Inc.
3008 E. Hebron Pkwy, Building 400
Carrollton, TX 75010

By Wire: Please provide your bank with the following wiring instructions:

For United States Resident Accounts

Bank Name: U.S. Bank

Bank Address: 80 S 8th St. #224, Minneapolis, MN 55402

ABA number: 123-000-848

Beneficiary: Wedbush Securities Inc/SunGard

Account Number: 153910900825

Further Credit to the Account of_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Customer Name and Account Number

For Non United States Resident Accounts

Please contact the representative who helped you open the account for the correct instructions.

Account Transfer: Please fill out the Account Transfer Form (ACAT) and return to Cobra Trading along with your account application. Please include a copy of the most recent statement for the account being transferred.

Once the account has been approved and funded, you will receive an e-mail notification with your live trading platform login details.

Cobra Trading offers a choice of two different clearing firms to suit your needs. Most accounts are opened through Wedbush Securities. We offer additional clearing through Interactive Brokers for clients who wish to trade stocks, options, futures and forex through the same interface. Please call us today to discuss our different clearing options.

Cobra Trading, Inc. is a member of SIPC. Securities customers of SIPC members are protected up to $500,000 (including $250,000 for claims of cash).In addition to the $500,000 protection provided by SIPC, clients clearing at Wedbush Securities have additional coverage purchased from Lloyd’s of London for up to $25,000,000 in cash and securities for each client, subject to an aggregate loss limit of $100,000,000. This bond covers cash credit balances to a maximum of $900,000 for a total of $1,150,000 in cash balances. Neither the SIPC or any additional coverage will protect against market loss. For further information regarding SIPC coverage, please contact SIPC at their website www.SIPC.org.

To contact a representative at Cobra Trading, Inc., please see information at contact us.

To access your historical account information online, please login to your My Client Link portal. If you have not yet setup your My Client Link portal and need help please contact your representative for assistance.

Buying power is determined by the type of account you are trading in. If you are trading in an IRA or cash account your buying power will be limited to the cash available. In a retail margin account your buying power for intraday (limit of 3 intraday trades in a rolling 5-day period) will be 4 times your available cash and overnight trades will be 2 times your available cash. For day-trading accounts you will typically have a 4-to-1 intraday buying power and 2-to-1 overnight buying power. For further details on day-trading buying power, select this link.

No, we do not currently offer this service.

Funds can be dispersed via check, wire, or ACH transfer (if already setup for your account). Simply contact a Cobra Trading, Inc. associate.

Cobra Trading, Inc. is a FINRA and NFA registered Broker for equities, options and futures in all 50 states and Puerto Rico.

Yes, we offer both pre- and post-market trading for our clients. Trading hours are 4:00 am EST thru 8:00 pm EST. Please note, trading during the pre- and post-market trading sessions carries extra risk and is not suitable for all investors.

Hours of operation are Monday through Friday, 8:00 am to 5:30 pm EST.

Most new computer systems are equipped to handle our trading platforms. We do strongly recommend a high-speed, stable Internet connection.

Yes, you may trade options in your Cobra Trading account. You will need to fill out an Option Account Agreement and be approved for options trading.

No, Cobra Trading does not offer futures trading at this time. However, you can trade futures through our Venom by Cobra Trading brand. You can view more information here.

On DAS Trader Pro you can find the designation next to the VWAP field at the top of your level II trading window. If you see an S then the stock is easy to borrow. On Sterling or Cobra Trader Pro, there is an indication in the bottom right corner of your level II trading window. If you see ETB, the stock is easy to borrow.

You may request locates for non-easy to borrow securities using the live chat feature on our website or by using the Short Locate/Locate Monitor tool imbedded in your trading platform.

An account with one beneficial owner for people who want to trade personal capital.

Individual Account Application

Most commonly for married couples, this is an account with two equal interest owners where upon the death or decision of incompetence of either owner, account ownership passes to the survivor.

Joint Account Application

Traditional

• Contributions-$5500 per year-$6500 per year if 50 years old or older
• Tax deferred earnings
• Contributions may be tax deductible

Note: Call for limitations

Traditional IRA Account Application

• Contributions-$5500 per year-$6500 per year if 50 years old or older
• Tax deferred earnings
• Non deductible contributions
• Tax-free distributions (if 59 and 1/2 years old or older) * Income restrictions apply
• Income restrictions apply

Note: Call for limitations

Roth IRA Account Application

An account held in the name of a company with designated persons who act and trade on behalf of the company.

Corporate Account Application

An entity account managed by its members who also appoint a person or persons to act on the companies behalf.

LLC Account Application

An account where the investments are held in the name of the trust while the trustee controls the management of said investments.

Trust Account Application

Two or more individuals that designate members of the partnership to act on behalf of the partnership as a whole. Each individual owner of the partnership is equally and personally responsible for its debts.

Partnership Account Application

Brokerage Account Transfer Form

Automated Clearing House (ACH) Authorization

IRA Distribution Form

To transfer an account from another firm, please contact Cobra Trading to obtain a copy of the Account Transfer Form (ACAT). Once you have completed the form please attach a copy of your most recent statement from the account you are transferring and return to Cobra Trading. You may email it to info@cobratrading.com, fax it to at 972-491-3111 or you can mail it to us at the address below:

Cobra Trading, Inc

3008 E. Hebron Pkwy, Building 400

Carrollton, TX 75010

To fund your account by wire transfer, please provide the following instructions to your bank: Please note your Cobra account must first be opened in order to get your “Customer Name and Account Number.” Third party wires cannot be accepted.

For All Platforms: DAS Trader Pro, Sterling Trader Pro, Cobra Trader Pro and Real Tick

Bank Name: U.S. Bank

Bank Address: 80 S 8th St. #224, Minneapolis, MN 55402

ABA number: 123-000-848

Beneficiary: Wedbush Securities Inc/SunGard

Account Number: 153910900825

Further Credit to the Account of_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Customer Name and Account Number

All you have to do is write a check payable to Wedbush Securities, with your account number written in the memo line. Include the check with your paperwork when you mail it to us at the address below:

Cobra Trading, Inc.

3008 E. Hebron Pkwy, Building 400

Carrollton, TX 75010