How does CenterPoint's short-locate workflow work?

Type a ticker in the DAS "Short Locate" window — live inventory, price, and expiration appear from the in-house securities-lending desk's sources (45+ counterparties, 100M+ HTB shares/month). Click "Accept" and shares are reserved. Locate fees are charged whether or not you actually short. The first $15/day in locate fees is included free. Equity-tier discounts: 15% at $50K, 20% at $100K, 25% at $250K, 30% at $1M+. Overnight cost ≈ daily locate fee × settlement days held (T+2 ≈ 3× the daily cost).

What is the CenterPoint minimum deposit?

$30,000 — above the FINRA PDT $25K floor. Maintenance minimums are lower; platform-fee waivers kick in at active volumes (e.g., CenterPoint Pro waived at 250K shares/mo or 1,000 options contracts/mo).

Does CenterPoint accept PFOF?

No. CenterPoint does not accept payment for order flow — orders are routed for execution quality across 40+ direct routes (lit exchanges, market-maker wheels, dark pools, midpoint, algos). Transparent rebate/fee table at centerpointsecurities.com/routes/.

Is CenterPoint owned by Clear Street?

Yes. Clear Street LLC (CRD #288933, NY) acquired CenterPoint in 2020 and rebranded the unit as "Clear Street Active Trading" on October 10, 2024. The CenterPoint brand persists and centerpointsecurities.com remains live; new customers contract with Clear Street and access trading through CenterPoint-branded platforms.

What assets can I trade on CenterPoint?

US-listed stocks, ETFs, OTC/Pink Sheets, and listed options (single and multi-leg, including index options like SPX/NDX). No futures, forex, spot crypto, mutual funds, bonds, fractional shares, or international stocks. Sterling Trader Pro can extend to futures (via Sterling) for some accounts.

What does the CenterPoint Edge bundle include?

A third-party-tools perks bundle marketed at ~$6,000/year value: Trade Ideas (scanning), Benzinga Pro (news), TrendSpider (charting + alerts), Dilution Tracker (small-cap dilution data), and TraderSync (journal/analytics). Available to qualifying active accounts.

Is CenterPoint good for beginners?

No. $30K minimum, $120/mo CenterPoint Pro platform fee, $25/mo inactivity fee, and DAS Trader Pro's steep learning curve make this actively wrong for beginners. Start with Fidelity, Schwab, or Robinhood; consider CenterPoint only once you are a funded ($50K+) active day trader or short seller with a specific need for HTB locates.

CenterPoint Securities review

4.1 / 5

Last reviewed May 13, 2026

Visit CenterPoint

Best-in-class short-locate inventory for active day traders and short sellers. Now a Clear Street division with ~8,000 ETB names, an in-house HTB desk sourcing 100M+ shares/month, 40+ DMA routes, and no PFOF. $30K minimum; not for beginners or buy-and-hold.

#1 HTB locate inventory
In-house securities-lending desk
40+ DMA routes
No PFOF
DAS Trader Pro engine

At a glance

Founded: 2000
Minimum deposit: $30,000
Regulators: SEC · FINRA · NFA

Strengths and weaknesses

Strengths

Best-in-class short-locate inventory: ~8,000 ETB names + in-house securities-lending desk sourcing 100M+ HTB shares/month from 45+ counterparties
Equity-tier locate discounts: 15% ($50K), 20% ($100K), 25% ($250K), 30% ($1M+); $15/day in free locates included
No PFOF; transparent route table with rebates up to +$0.0020/share on lit exchanges
40+ routing destinations: direct exchanges, market-maker wheels, dark pools, midpoint, algos (TWAP/VWAP suite), short-sale specialized (SAGEAE), OTC-specific (OTCP, OTCX)
DAS Trader Pro engine (CenterPoint Pro) with multi-monitor, Level 2 mosaic, fully programmable hotkeys, 60+ technical studies
CenterPoint Edge perks bundle: Trade Ideas, Benzinga Pro, TrendSpider, Dilution Tracker, TraderSync (~$6,000/yr value)
Per-share commissions $0.0030 → $0.0010 with negotiable rates above 20M shares/month
4:1 intraday / 2:1 overnight buying power; per-symbol intraday concentration limits rather than blanket house reductions
Live US trade desk with sub-3-ring pickup during market hours
Portfolio margin available on request via Clear Street custody; 14-day free DAS trial offered

Weaknesses

$30,000 minimum deposit
Platform fees: $120/mo CenterPoint Pro (waived at 250K shares/mo); $20/mo CenterPoint Web (waived at 20K shares); ~$25/mo mobile add-on
Market data fees stack: ~$18 standard bundle, +$20 TotalView, +$15 ARCA Book, +$50 Options L2 — up to $148/mo non-pro
No futures, forex, spot crypto, mutual funds, bonds, fractional shares, or international stocks
No 24-hour overnight equity session — routes 4:00 a.m. – 8:00 p.m. ET only
No polished retail mobile app — iDASTrader is auxiliary, not a real mobile-first experience
Margin-rate tier table not publicly indexed (call 844-811-0118 for current schedule) — transparency concern
$25/month inactivity fee if zero securities transactions
Clear Street 2024 FINRA settlement: $175K fine + censure for mis-coding multi-leg options-order origin codes (Feb 2021 – Aug 2023) and supervisory failures
No interest paid on first $30K cash; up to ~3.00% APY on idle balances above that

Best for

Sub-ratings

Commissions & fees: 4.0
Platforms & tools: 4.5
Mobile app: 2.0
Research: 3.0
Education: 2.5
Customer service: 4.3
Range of investments: 2.5
Active trading: 5.0

Pricing & fees

Full fee schedule

Category	Item	Price	Notes
Stocks & ETFs	US stocks — < 500K shares/month	$0.0030 / share	No order minimum
Stocks & ETFs	US stocks — 10M–20M shares/month	$0.0010 / share	—
Stocks & ETFs	US stocks — > 20M shares/month	Negotiable	—
Options	Options — < 10,000 contracts/month	$0.50 / contract	—
Options	Options — > 100,000 contracts/month	$0.20 / contract	—
Options	SPX index fee	+$0.60 / contract	Other indices +$0.40 (pass-through)
Account & service fees	CenterPoint Pro (DAS) platform fee	$120 / month	Waived at 250K shares or 1,000 options contracts/month
Account & service fees	CenterPoint Web platform fee	$20 / month	Waived at 20K shares or 100 options contracts/month

PFOF: Does not accept payment for order flow on equities; does not accept PFOF on options. CenterPoint does NOT accept PFOF — orders are routed for execution quality, not internalization rebates. Transparent route table at centerpointsecurities.com/routes/.

Margin rates vs. peers

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

Asset coverage

US stocks (NYSE/Nasdaq/AMEX)
Full DMA via 40+ routes
Yes
OTC / Pink Sheets
Long + short; dedicated OTCP and OTCX routes
Yes
Fractional shares
No
Listed options (single + multi-leg)
Index options (SPX/NDX) supported
Yes
Mutual funds
No
ETFs
Yes
US Treasuries / bonds
No
Forex
No
Futures
Available separately via Clear Street institutional, not CenterPoint retail
No
Crypto (direct)
No
International stocks
Limited via Sterling at firm discretion
Limited
IRAs (limited)
Available via Clear Street custody on request; limited fund selection
Limited
Pre-market trading
Routes extend from 4:00 a.m. ET
Yes
After-hours trading
Until 8:00 p.m. ET
Yes
24-hour overnight equity trading
No continuous overnight session
No
Hard-to-borrow short locates
~8,000 ETB names + in-house HTB desk sourcing 100M+ shares/month from 45+ counterparties; equity-tier discounts 15%–30%
Yes

Platforms & tools

Platform deep-dive

Desktop
CenterPoint Pro
- DAS Trader Pro engine on Windows (Mac via Parallels/Bootcamp)
- Multi-monitor; Level 2 mosaic; time & sales; options chains with Greeks
- Fully programmable hotkeys; 60+ technical studies; basket orders
- +2 more — see platform deep-dive
$120/mo (waived at 250K shares/mo)
Web
CenterPoint Web
- Browser-based DAS Web — OS-agnostic
- Reduced route set (FAN, ARCS, CPGO, XALL)
- Charting + Level 2 (lighter than Pro)
$20/mo (waived at 20K shares/mo); good entry point for smaller accounts
Desktop
Sterling Trader Pro
- Optional; $175–$250/mo tiers
- Equities, options, futures (via Sterling), multi-account allocations
- Excel integration; Sterling RealTick API for algos
Mobile
iDASTrader
- Auxiliary DAS mobile for position monitoring and basic execution
- Not a polished retail app
Web
Clear Street Studio
- Post-trade analytics, risk, margin, exposure, and PnL
- studio.clearstreet.io (launched 2024)
Web
CenterPoint Edge
- Third-party tools bundle: Trade Ideas, Benzinga Pro, TrendSpider, Dilution Tracker, TraderSync
- Marketed at ~$6,000/year value

Key capabilities at a glance

Commission: Per-share (day-trader oriented)
Fractional shares: No
Extended hours: Yes
Overnight (24/5): No
Options: per-contract
OTC access: 5/5 full, 0/5 limited
Penny-stock surcharge: Per-share
Short locate: best

OTC market access by tier

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. CenterPoint Securities’s coverage:

OTCQXFull
OTCQBFull
Pink CurrentFull
Pink LimitedFull
Grey MarketFull

Awards & recognition

2026 #1 broker for short selling / HTB locates — Bullish Bears / Day Trade Review

Recent changes

Oct 10, 2024product
CenterPoint rebranded as "Clear Street Active Trading"; new accounts open on Clear Street's clearing infrastructure (Clear Street Studio launched in tandem)
2024regulatory
Clear Street LLC FINRA settlement: $175K fine + censure for mis-coding multi-leg options-order origin codes (Feb 2021 – Aug 2023) and supervisory failures
2020product
Clear Street LLC acquired CenterPoint Securities from prior parent Precision Securities, LLC

Frequently asked

How does CenterPoint's short-locate workflow work?: Type a ticker in the DAS "Short Locate" window — live inventory, price, and expiration appear from the in-house securities-lending desk's sources (45+ counterparties, 100M+ HTB shares/month). Click "Accept" and shares are reserved. Locate fees are charged whether or not you actually short. The first $15/day in locate fees is included free. Equity-tier discounts: 15% at $50K, 20% at $100K, 25% at $250K, 30% at $1M+. Overnight cost ≈ daily locate fee × settlement days held (T+2 ≈ 3× the daily cost).
What is the CenterPoint minimum deposit?: $30,000 — above the FINRA PDT $25K floor. Maintenance minimums are lower; platform-fee waivers kick in at active volumes (e.g., CenterPoint Pro waived at 250K shares/mo or 1,000 options contracts/mo).
Does CenterPoint accept PFOF?: No. CenterPoint does not accept payment for order flow — orders are routed for execution quality across 40+ direct routes (lit exchanges, market-maker wheels, dark pools, midpoint, algos). Transparent rebate/fee table at centerpointsecurities.com/routes/.
Is CenterPoint owned by Clear Street?: Yes. Clear Street LLC (CRD #288933, NY) acquired CenterPoint in 2020 and rebranded the unit as "Clear Street Active Trading" on October 10, 2024. The CenterPoint brand persists and centerpointsecurities.com remains live; new customers contract with Clear Street and access trading through CenterPoint-branded platforms.
What assets can I trade on CenterPoint?: US-listed stocks, ETFs, OTC/Pink Sheets, and listed options (single and multi-leg, including index options like SPX/NDX). No futures, forex, spot crypto, mutual funds, bonds, fractional shares, or international stocks. Sterling Trader Pro can extend to futures (via Sterling) for some accounts.
What does the CenterPoint Edge bundle include?: A third-party-tools perks bundle marketed at ~$6,000/year value: Trade Ideas (scanning), Benzinga Pro (news), TrendSpider (charting + alerts), Dilution Tracker (small-cap dilution data), and TraderSync (journal/analytics). Available to qualifying active accounts.
Is CenterPoint good for beginners?: No. $30K minimum, $120/mo CenterPoint Pro platform fee, $25/mo inactivity fee, and DAS Trader Pro's steep learning curve make this actively wrong for beginners. Start with Fidelity, Schwab, or Robinhood; consider CenterPoint only once you are a funded ($50K+) active day trader or short seller with a specific need for HTB locates.

Notes

Active-trader platform with deep short-locate inventory.