TradeKing has been around since December 2005, they’ve wasted no time carving out a reputation as a serious power player in the discount broker niche. They have recently been setting the pace for innovation in the online broker space, and early last year they rolled out their mobile trading apps for Blackberry and iPhone. They have also recently expanded their already formidable free education resources, including video tutorials, live webinars, and options playbook for all levels of traders.
What they offer
Ultra-low commissions, top rated customer service (Smart Money, The Wall Street Journal magazine ranked them #1 as of June last year). TradeKing is known for it’s slick trading platform, great research tools, mobile trading access, and arguably the best options trading tools around.
- New Blackberry and iPhone mobile apps for on-the-go access.
- Cheap flat fees & no minimum deposit to open an account.
- Top rated customer service.
- Top notch free education offered via TradeKing learning center.
- Ability to share experiences, ideas and strategies with thousands of seasoned traders in the TradeKing Trader Network
- Stocks: $4.95 per trade (flat fee).
- Options: $4.95 + $0.65 per contract.
- No additional fees for broker assisted (call in) trades.
- As of January 1, 2012, TradeKing has introduced an annual fee for customers with “highly inactive accounts”. If you make more than one trade per year in your account, this shouldn’t effect you, but if you go a whole year without making a trade, plus have less than a $2,500 balance in your account, you will incur the new $50 fee.
- It’s important to note that although some (though not many) brokers may appear to offer cheaper commission on some trades, TradeKing offers one of the cheapest non-tiered commission structure out there. You pay $4.95 for all stock trades, no restrictions.
Ease Of Use:
The TradeKing platform is extremely intuitive and easy to use. Nicely labelled, and there is a full host of videos and resources to help you get started and learn the platform. Take the video tour below to get an idea of what their platform offers.
- 4 Stars for Long Term Investing (Barron’s, 2011 & 2012)
- “Among the Best for Options Traders” (Barron’s, 2011 & 2012)
- Ranked #1 in customer service by Smart Money (2010, 2011 & 2012).
- Smart Money award for Top Online Broker 4 years running (2004-2009).
- Awarded “Best For Options Traders” by Barron’s (2009 & 2010)
- 4 Star rated by Barron’s in their annual survey of the best browser based online brokers 2007-2012.