More locates. More opportunity.
Big Trades offers institutional-grade borrows with straightforward pricing. No games, no surprises—just reliable locate availability when you need it.
The locate availability you need.
Pro-level inventory
Get access to thousands of tickers, including hard-to-borrow names that most retail brokers can’t touch.
Fair borrow costs
Our borrow rates are competitive because we believe access shouldn’t eat your edge.
Fast execution
Real-time locate requests through our platform. You’re not waiting around or hoping inventory magically appears.
Here’s the thing.
You’ve been there: perfect setup, solid thesis, finger on the trigger—no borrow available. Or worse: borrow’s available, but the rate kills any edge you had.
We built our locate infrastructure to solve both problems. Deep inventory on the names you actually want to short, priced fairly so you can actually make money on the trade.
Short-biased traders switch brokers for one reason: better access. If you can’t get the borrow, nothing else matters.
A proven track record.
Big Trades is a division of Cobra Trading, a 6-time winner of Benzinga’s “Best Brokerage for Short Selling” (accounts $25K+). That’s not marketing fluff. It’s recognition of what we’ve been doing for years: giving active traders the tools they need to short effectively.
FAQ
How do I request a locate?
Locates can be requested directly through the trading platform prior to placing a short sale. Availability and pricing are displayed in real time, allowing you to reserve shares before entering your order.
Is there a minimum account size to access locates?
No specific minimum account size is required to request locates. However, your account must meet margin, buying power, and risk requirements for short selling.
When are locates available?
Locate availability typically begins in the early premarket hours and continues throughout the trading day, depending on supply and market conditions.
Can I get locates on low-float or hard-to-borrow stocks?
Yes. BigTrades provides access to multiple locate sources, including availability for low-float and hard-to-borrow securities, subject to market conditions.
How do your borrow rates compare to other brokers?
BigTrades uses market-based locate and borrow pricing sourced from multiple liquidity providers, ensuring competitive rates and broad availability.
Do you charge locate fees even if I don’t use the borrow?
Yes. Locate fees are charged at the time shares are reserved, regardless of whether you execute the short trade.
Why was my locate price higher than expected?
Locate pricing reflects real-time supply and demand. Low-float or high-demand securities may carry higher costs.
Do borrow rates change during the day?
Yes. Borrow rates and locate pricing are dynamic and may change throughout the trading day.
Can I re-use my locates?
Intraday reuse may be allowed if shares remain available. However, reuse may be restricted depending on the security (i.e., Reg-SHO securities), market conditions, and regulatory requirements.
How long is a locate valid?
Locates are generally valid for the same trading day and do not carry over overnight.
Can I short Reg SHO Threshold securities?
Yes. However, shorting Reg SHO Threshold securities may be restricted (i.e., recycling locates on Reg-SHO securities is not allowed) or require additional steps due to regulatory requirements and limited borrow availability.
What happens if I hold a short position overnight?
If you hold a short position overnight, you will be charged the applicable borrow fee. Rates are market-based and may change daily.
Can my shares be bought in (forced close)?
Yes. In rare cases, shares may be recalled by lenders, which can result in a forced buy-in or position close-out.