TradeKing

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Rating: 6.8/10 (4 votes cast)
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TradeKing Highlights:

  • $4.95 flat rate regardless of type or size of order
  • No account minimums or annual fees
  • $50 referral incentive program
  • Receive $150 in transfer fees back when you switch to TradeKing
  • Rated as four stars by Barron’s for  the last 5 years
  • Ranked #1 in Customer Service by SmartMoney Magazine in 2008, 2010, 2011 and 2012
  • Offers an iPhone App and is compatible with Blackberry and other mobile devices
  • TradeKing LIVE offers browser based streaming market data, news, and video
  • Blog, create a profile, subscribe to another user on Trader Network
  • Educational articles, books, and webinars  for investors of all levels

What we like about TradeKing:

Low Commissions:

  • $4.95 All stock trades
  • $4.95 Option trades

TradeKing charges a $4.95 commission for stock trades, whether market or limit and regardless of the size of the order.  The commission is $4.95 plus $0.65 per contract for option trades.  TradeKing automatically offers a discount when you trade nine contracts or more dropping the price down to $8.95 per trade plus 15 cents per contract.  Multi-leg trades are charged at a single leg rate, so you pay only one base rate.  Also, TradeKing rates stay the same for broker-assisted trades and do not vary based on how large your account is or how often you trade.  TradeKing also offers mutual funds from around 235 fund families charging $14.95 per mutual transaction.

No Account minimums:

TradeKing has no account minimums to open an account. When TradeKing says no account minimums it not only lets you open an account with not a lot of money, but doesn’t charge any annual fees or charge higher commissions for low balance accounts. TradeKing offers the same flat rate for all traders a feature that will put novice traders on a nearly even playing field with the big guys.

State of the Art Web Features and Tools:

For a flat rate low commission brokerage you might imagine that the actual features and tools of the site would be basic and low tech.  However, TradeKing offers a wealth of information and education in a tech savvy, user-friendly format.   TradeKing’s website is so good that it has been recognized for innovation in website design.  In 2009 it was awarded the Gomez award for Speed and Availability in its “Best of the Web 2009” Report.

The tools that TradeKing offers its members seal the deal, making this website one of the best around.  TradeKing offers a variety of tools, all very useful and relevant to today’s market.  Some of the features that we like best are the Trader Network, a social networking component, which allows traders and investors to connect and learn from each other.  Through Trader Network you can blog about financial strategies, create trade notes to explain their trades, establish a profile, and even subscribe to other trader’s activity.

TradeKing’s latest feature, TradeKing LIVE, is a browser-based live trader platform and can be accessed from a wide variety of mobile devices.  With charts, streaming video, news, and instant quotes TradeKing LIVE is literally taking TradeKing to the next level.

Customer Service:

Perhaps the brightest area in which TradeKing shines is in the realm of customer service.   TradeKing has been recognized for exceptional customer service winning #1 in Customer Service as awarded by SmartMoney Magazine in 2008, 2010, 2011, and 2012 in their broker surveys.  An agent may be reached through TradeKing online or via phone and usually in under a minute.  Experienced brokers are available by email, typical response time on email is within 2 hours during normal business hours and within 24 hours on the weekend, or chat with them live in a matter of seconds.

In Short:

TradeKing is emerging as a leader in the online discount brokerage industry.  With an arsenal of financial tools and a fixed low commission TradeKing is one of the best places to invest your money.  Offering a variety of stock trading and investment options and a wealth of educational information TradeKing empowers investors of all levels to expand their wealth.  The Trader Network is a good place to learn even more by following the activity and reading the blogs of other investors to learn new strategies and tricks of the trade.  The customer service is excellent, perhaps the best in the industry.

Switch to TradeKing and get up to $150 in transfer fees reimbursed.

TradeKing, 7.0 out of 10 based on 7 ratings

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