The founder of a new online brokerage firm says he will be the largest trader in the country within six months.
By removing many of the regulations governing traders in Canada, the U.S. and Europe, the idea is to create an attractive offshore trading hub to short sell penny stocks.
Guy Gentile, the CEO of SureTrader.com, is also the creator of SpeedTrader.com, the U.S. online trading broker with $20 million per year in annual revenue. Inc. Magazine ranked it 703 on its 2011 list of fastest-growing private companies, with a three-year revenue growth of 451 percent.
However, Gentile told Guardian Business that SureTrader should be able to surpass its U.S. sister company through unique service offerings and the absence of certain regulations. “We have been in business for three months and we should run in the black shortly,” he said.
