TradeKing Review, Ratings, Pros and Cons

TradeKing review. TradeKing is an online broker providing tools and research for online trading of stocks and options with fair and simple pricing.

TradeKing ReviewTradeKing is a financial brokerage firm which was founded in the year 2005. The company headquarters is located in Fort Lauderdale in Florida. A satellite office is also available at Charlotte in North Carolina. Although the company has two physical establishments, most of the trades happen virtually through the company’s website. TradeKing has been able to receive a lot of awards over the past decade. The company has consistently received five star ratings from SmartMoney from 2009 to 2011. TradeKing was even named as number one in customer service in 2008.

Markets Covered

TradeKing allows its clients to trade either stock, options, mutual funds and exchanged traded funds. The company only caters to people who live in the United States.

Accounts and Conditions

There are several accounts to choose from in the company’s website. Clients can opt to open either a Sole Proprietorship Account, Limited Liability Corporation, Partnership, Investment Club, Corporate, Trust or an Individual account. Although slightly different in nature in terms of the size of the investments and the recipient of the earnings, these accounts share the same generic tools and services. TradeKing also offers Retirement accounts which mainly focus on different types of Individual Retirement Accounts (IRAs) such as Simple, Traditional, Rollover and Roth IRA.

Opening an Account

TradeKing offers clients several options on how to open an account. A vast majority of accounts is opened through the website. Clients should just accomplish the online application form for the accounts that they want and would just need to wait for the accounts to be approved. Trade also provided three other channels where customers can send in their application forms. They can either send it through fax, email or physical mail to the numbers and addresses provided. The clients should also read the Customer Agreement form so that they may study the terms and conditions that are associated with each account and the IRA Disclosure form for those who wish to open IRA accounts.

 

 

Pricing and Fees

TradeKing’s fees are much more affordable than its competitors. Clients will just have to pay $4.95 if they wish to trade stock and they will just have to add sixty five cents if they wish to trade options. TradeKing also offers bulk contracts. Clients will just have to pay $11.45 for ten contracts, $37.45 for fifty contracts and 69.95 for one hundred contracts. They get to save more money if they buy a larger number of contracts.

Trading Platform

TradeKing has only one trading platform which is called the TradeKing Live. It is a complete trading platform as it has all the tools needed for trading.

TradeKing Live is loaded with tools and features that will help clients make good decisions in trading stocks and options. This trading platform charts that will allow clients to view the historical data of certain stocks so that they may be able to compare each one. TradeKing Live also comes with a feature that allows clients to view the progress of their holdings in one screen. It also comes with tools that will provide clients with a higher level of technical analysis. All of these tools combined with the highly customizable and easy to use interface makes this trading platform one of a kind.

Tools and Research – TradeKing Review

TradeKing also has some great tools that would make life easier for its clients. Calculators are also provided to compute for possible profit and loss, volatility of investment products and the prices of options. There also scanners and screeners that work like search engines that would help clients find the best stocks and options that they may want to purchase. The company also has a full set of technical analysis tools which will provide clients with accurate forecasts that will influence their decisions. Finally, TradeKing has a very unique tax management tool. This tool allows clients to see information and records related to their taxes.

Education

Client education is very important and TradeKing has been very generous to its clients in this aspect of the business. The company website of has an Education center page that will teach them about the investment products being offered. The company has also provided web seminars and videos to help clients learn faster. They also have a Tax center that will guide clients with regard to tax related issues.

Support

TradeKing is a very supportive company. Clients can either call the TradeKing customer service number or send an email directly to the company if they need help. TradeKing also has forums with some helpful discussions which might help the clients.

Promotions

TradeKing has a lot of interesting promotions that would definitely catch the attention of potential and old clients alike. The company offers a $50 reward for their clients who are able to refer their friends. The client’s friend should just open an account and deposit $3000 so that they both get the reward credited to their accounts. The company is also offering a $150 reimbursement for those who will transfer their brokerage accounts to TradeKing.

What Makes TradeKing Different?

TradeKing has definitely been able to live up to its name. The company offers the most affordable rates in the trading business but it has not compromised the quality of service being provided to its customers. The company’s trading platform is easy to use and has a lot of powerful tools that can make trading as easy as pie. Clients can also learn a lot because TradeKing has various educational resources that are very easy to understand. The awards that the company has received proves that the company has been able to provide excellent service to its valuable clients. The company has also given five reasons for clients to choose them over their competitors but in reality there is a whole lot more that are even better than the ones already mentioned. TradeKing has made a promise to make their clients feel like kings and they were definitely able to keep that promise. Clients are treated like royalty and everything in served in service platter.

One Response to TradeKing Review, Ratings, Pros and Cons

  1. Lawrence Richardson October 7, 2012 at 10:34 pm #

    I have always been looking for brokerages which provide stocks and Forex trading option in one single account. Soon enough I found TradeKing which fulfilled all such requirements. I appreciate their low schedule of commissions and top-quality customer services. According to my opinion it’s a sensible decision to opt for their services.

Leave a Reply