#2 TradeKing

TradeKing Reviews

Service Review
As far as services offered by TradeKing are concerned, you can expect the following from this online trading platform. Competitive pricing – It has structured just a flat rate to carry out trades and for contracts pennies. In the event you have to increase your trade, you continue paying the same.

You will not be required to make any minimum level of investment to trade. Also you don’t have to maintain a minimum balance in your account. As per reviews, TradeKing excels in customer care. It has occupied the top place in customer care for two years continuously. Customer service is through secured online chat messages, email, and phone calls. By opening an account with TradeKing, you are able to access all the research and trading tools needed for trading. Last but not the least, offering customer education pertaining to trading is an additional feature of this trading platform.

Types of Investments
TradeKing offers Mutual Funds, Options, and Equities.

Commission and Fees
As far as fees and commissions are concerned, it is listed below-

  • Margin rates – 8.75% to 4%
  • Platform fees – USD$50. You will be required to shell out this amount if you have an inactive account
  • Broker assisted -USD$4.95
  • Mutual Funds – USD$14.95
  • Options – USD$4.95 plus 0.65/contract
  • Equities – USD$4.95

Highlights
TradeKing has an online Trader Community that forms one of the most extensive networks of traders. With the help of the online community you are at liberty to exchange and share ideas and knowledge about trading with the other traders that are present in the network of TradeKing.

If you want to know how many types of accounts are available with TradeKing, they include – LLC Account, Individual, Custodial, and Joint Account, Simple IRA Account, Coverdell Account, SEP, Traditional Rollover IRAs, Roth Accounts, Sole Proprietorship, Partnership, Investment Club Account, Corporate, Trust Account, and Transfer on Death Account. You also have the provision to trade from your Blackberry or your iPhone.

Investing and Trading Tools
There are a number of trading tools that traders are able to use when trading with TradeKing. Names of few of these tools are Maxit Tax Manager, Strategy Screeners, Technical Analysis, Options and Options Strategy Scanners, Tax Lot Selection, Trader Forum, Trader Community, Market Analysis, Research Reports, Market Commentary, Breaking News, and Free Live Streaming Quotes.

Other trading tools that you get access for free when you sign up for an account include Profit and Loss Calculator, Options Pricing Calculator, Options Chains, Trailing Stops, and Volatility Charts. Free real time quotes are also available at TradeKing.

Summary
Owing to the excellent customer service, commission rates that are competitive, and the fact that it has an online trading community surely allows it to enjoy an edge over the other online brokers.

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Rating: 7.5/10 (40 votes cast)
#2 TradeKing, 7.5 out of 10 based on 40 ratings

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