Apparently they are secured up to $250K by Lloyd's of London affiliate Argenta Group, however i guess there is no real way to know if this is legit or not? Might have to check it out.
Look i know Bahamas and Cyprus aren't great areas for brokers to be located, that doesn't mean there couldn't be any exceptions. And again, i am not encouraging anyone to open a large account with Tradezero, however for small accounts, at least in my opinion, it is the best option out there regarding costs etc.
If you disagree and think there are better options for small account holders to trade fairly cheap and avoid PDT, please let us know.
Firstrade is $0 across the board, US, SPIC, SEC oversight....
Enjoy.