CenterPoint Rating: 
Overview of CenterPoint Securities
CenterPoint Securities, a California-based brokerage firm established in 2020, operates under the umbrella of Precision Securities LLC. As a division of a registered broker-dealer, it complies with SEC regulations and is a member of both FINRA and SIPC.
CenterPoint Securities aims to cater to a distinct niche within the investment world. A simple glance at their fee structure, minimum deposit stipulations, and platform functionalities clarifies that their intended clientele primarily consists of expert stock and options day traders with substantial accounts and a tendency towards short selling.
Opening an Account
Although the anticipated bureaucratic hurdles exist, the process of opening an account with CenterPoint Securities is generally smooth and enjoyable, largely due to their excellent customer support – one of the firm's most commendable features. While they accept customers from the US and abroad, the criteria for non-US residents are more stringent.
The company has raised its minimum deposit requirement from $30,000 to $50,000, positioning it among the brokers demanding the highest minimum deposits in the market. By doubling the Pattern Day Trading requirement, they have effectively established a barrier that deters most retail day traders, demonstrating a clear preference for the high-stakes segment of the market.
CenterPoint Stock Commissions
| Monthly Volume (shares per month) | Commission | Minimum Commission Per Order |
|---|
| <500k | $0.003 | $0.30 |
| 500k-1M | $0.0025 | $0.25 |
| 1M-5M | $0.002 | $0.20 |
| 5M-10M | $0.0015 | $0.15 |
| 10M-100M | $0.001 | $0.10 |
Above 100 million shares per month, stock commissions are negotiable.
CenterPoint Options Commissions
| Volume (Contracts per Month) | Price per Contract |
|---|
| Under 10,000 |
$0.65 |
| Over 10,000 |
$0.40 |
| Over 50,000 |
$0.30 |
| Over 100,000 |
$0.20 |
CenterPoint Pricing
The commissions on stocks and options are competitive, especially for high-volume accounts. They only offer a per-share commission system, going as low as $0.001 per stock (routing and regulatory fees excluded) for clients that have traded over 10M shares during the previous month. For accounts below 500k shares of monthly volume, the commissions start at $0.003 per share, with a minimum of $0.30 per trade.
For options commissions, the prices go from $0.65 to $0.20 per contract, depending on the number of contracts per month.
Maker-taker fees are available at CenterPoint, and the broker-dealer does charge for market data.
Tradable Assets
CenterPoint Securities supports only stocks, options, and ETFs on US markets, which shows once more
how the platform is designed to serve short-term traders, as long-term assets like bonds or mutual
funds are excluded.
The solutions offered for shorting stocks are superb. They have close to 8,000 symbols on their daily ‘Easy-to-Borrow’ list, which is massive, and they are exceptionally good at finding stocks to borrow. This process is possible thanks to an in-house securities lending team, that liaise with over 45 counterparty firms, which results in more than 100M shares located every month.
The stock borrowing is done through a user-friendly short locator integrated on the trading platform, in a very fast and efficient way. The locates per share are extremely cheap compared to other brokers on the market, and on top of that, clients receive a discount according to their account balance.
Short Locate Discount Program
| Account Equity |
Discount |
|---|
| 50K-99K |
15% |
| 100K-249K |
20% |
| 250K-999K |
25% |
| 1M+ |
30% |
Trading Platform
Previously, CenterPoint Securities provided a variety of platform choices like Real Tick and Sterling Trader Pro. However, as of now, Das Trader Pro is the sole option, priced at a relatively steep $120 per month. The platform comes in three versions: a desktop workstation, a web-based interface, and a mobile application, all of which offer comparable functionality, speed, and reliability.
The Das Trader Pro platform is robust, specifically tailored for highly active traders. It is equipped with essential modern trading tools such as advanced charting, multiple routing options, stock scanning windows, various stop types, hot keys, an inbuilt short locator, Market Viewer, and more.
The platform's customization potential is remarkable and comprehensive. For instance, traders can nearly overhaul the order window, adding or removing keys, or even reassigning a key with intricate, dynamic commands to tailor it to a specific strategy or trading style.
Moreover, the platform's charting capability is top-tier, supporting multiple charts and a plethora of technical indicators, all fully customizable.
On the downside, Das Trader Pro's scanning tools and news windows are somewhat basic and rudimentary.
Education and Research
CenterPoint Securities does not provide any educational resources. The company's typical client base is presumably already experienced and unlikely to seek broker-provided tutorials to address their knowledge gaps.
Similarly, high-end scanners or news tools aren't offered, as most traders probably obtain this information from subscriptions to specialized services.
Speed, Flexibility and Cost
What a high-volume, frequent trader is very interested in, though, is good fill prices and faster executions for their large orders, and that’s exactly the kind of needs that CenterPoint Securities tries to meet. More specifically, CenterPoint Securities is focused on being the best in terms of speed (specialized routes, smart routing technology, and direct market access provided by third party vendors), flexibility (custom routes and multiple order types) and cost (low fees and the possibility of using ECNs that provide rebates).
Customer Support
As I have previously mentioned, their customer support department could hardly be better. They are extraordinarily fast with their replies, very efficient at fixing issues, and the transfers division is always proactive in contacting the client with a solution when something is not right. As a result, they provide a great overall experience.
CenterPoint Securities Review Summary
In summary, CenterPoint Securities doesn’t want to be just another broker for the average trader. Their minimum deposit is prohibitively high for most of the retail traders. They do not offer a set of features that could be interesting for newbies, like educational videos or robust scanners.
Regarding the platform strengths, like direct market access or customized order windows, they are probably wasted on beginning traders. CenterPoint is focused on high-volume traders with big accounts that are interested in good fill rates, faster executions, flexible routing options, smart technology or ECN rebates. That’s exactly what CenterPoint Securities promises to deliver.
They are undoubtedly one of the best brokers in the market for shorting stocks, and that of course is appealing to all short-bias traders, beginners and experienced alike. Unfortunately, those that cannot meet the $50,000 minimum deposit requirement will never be able to take advantage of CenterPoint’s extensive locates inventory.
Overall, their fees are very competitive, and the customer service is exquisite. On the downside, CenterPoint’s small list of tradable assets, combined with a lack of educational content, basic news, and scanning windows, could deter potential clients.
Updated on 1/1/2025.
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