TradeKing - Online Trading, Online Broker For Stocks and Options, Superb Website Usability
TradeKing is an online broker providing tools and research for online trading of stocks, options, bonds and more. Best site usability among brokers.
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TradeKing Brokerage Review
| Equity Trades: | $4.95 |
| Mutual Funds: | $9.95 |
| Options Base Fee: | $4.95 |
| Options Per Contract: | $0.65 |
| Broker Assisted Trades: | $4.95 |
| Minimum Deposit: | $0.00 |
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Few online brokerages have taken the internet trading world by storm like TradeKing has during the last few years since its establishment in 2005 and much of this popularity is attributed to the tutelage which it provides to online traders prompting them to make smart trades. This firm may not be the most economical in terms of prices and rates but makes up for it by offering a wide range of free trading tools which assist in screening and monitoring the market and providing reliable and professional customer service support.
TradeKing has always been supportive of the trader network and is one of the exceptional firms which do not lay down any minimal account or trade limit. There are two reasons which would justify a trader's preference for this firm, the first being account protection up to a massive $25 million and second being the scheme of National Best Bid and Offer Guaranteed.
An aspiring trader who wishes to open an account with 'King' online stockbroker is likely to be boggled at the number of choices with which he is faced in terms of the types of accounts. This is one firm which features all possible types of accounts under its roof and while a lone trader might be interested in individual, joint, custodial, trust, sole proprietorship or a simple IRA account, some of the other options like corporate account, Investment Club account, Coverdell account, SEP account and a Partnership account are also available.
Fees & Commissions
TradeKing online stockbroker is not insistent on a minimum account balance and hence perfect for a person who is yet to inaugurate his portfolio. It offers an equally good deal for seasoned traders as well by charging the lowest fees and featuring a non-tiered commission schedule which ensures uniform rates for everyone irrespective of balance or trade.
Investments Offered
There are a number of investment vehicles which a client of this firm can opt for, some of the most common ones being equity stocks, options, mutual funds and exchange-traded funds. There are fixed income investment schemes as well like Government Issues, bonds and CDs' but these need to be physically purchased through a sales representative as there is a restriction on their online purchase.
Trading Technology
One of the reasons which is a major contributory factor towards the positive image of this firm is its user friendly website. Apart from facilitating convenient navigation through prominently placed tabs, there are virtual tours and video demos for educating the user about the various features and functions of tools.
TradeKing online stockbroker would easily qualify as one of the exceptional brokerage firms in this regard solely owing to the range of trading tools offered by its online platform. There is something for everyone here and while novices and beginners could peruse through the educational material to grasp the various levels of stock trading, active traders resort to practical tools like calculators, alerts, charts, graphs and latest information pertaining to the movement of the market.
Customer Service
Apart from usual approaches of email, chat and phone, a unique way of offering support is through the user forums in which information, questions and advice are tossed back and forth between traders, investors and experts.
The par-excellence performance of TradeKing is evident from the number of awards and ratings which it has received in the past 5 years. Although not meant for traders who deal in penny stocks, this firm is the 'Numero Uno' choice of traders of all calibers due to its extent of research data, tools and absence of fees. Already being counted as one of the major power players, this impressive brokerage firm is set to conquer to trading world by creating higher than ever waves in future because it is able to sustain all types of accounts for its customers thus acquiring a universally versatile flavor.
Advantages/Customers like
- Good streaming platform with integrated news, charts, options, account data and flexible trade ticket.
- Terrific customer service via phone or web community.
- Good search engine and tools for bond traders.
- Excellent educational resources.
- No minimums, maintenance or hidden fees.
- Competitive commissions and low margin rates.
Disadvantages/Customers don't like
- No international offerings.
- Mobile trading support is limited.
Written by: Goran Dolenc
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