TradeKing

Rating:  

Website: www.tradeking.comFees: $4.95 / stock trade, including Broker assisted. Options +$0.65 / trade
Account Minimums: None*
Transfer Fees: Up to £150 reimbursement on transfer costs.
Virtual Trading: None available
Interface: Clean and easy to use. Few distractions, browse your account balances, holdings, gain and losses
Tools / Resources: Technical Analysis suite and Maxit Tax Manager!
Customer Service: Barron’s gave TradeKing 4 stars for outstanding tools, customer service, social media, usability and cost in 2007 and 2008, and Best For Options Traders in 2008 and 2009.

*$2000 deposit required for margin accounts. No Foreign (Non US) accounts.

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Background: TradeKing are a well established online stock trading platform. Since 2005 they have been offering an expanding service offering which now includes Stocks, ETFs, Options (equity, index and fixed return), Mutual Funds, Fixed Income (corporate, agency, treasuries, municipals, strips & zeros, and new issues).

They focus on providing low cost fees coupled with a robust trading platform, excellent resources and a growing online trading community.

TradeKing is a member of the Securities Investor Protection Corporation (SIPC), which provides protection for accounts up to $500,000 (including $100,000 for claims of cash) per client as defined by SIPC rules.

Barron’s gave TradeKing 4 stars and they also attained Kiplinger’s ‘Top Rated Customer Service‘ in 2009.

Pricing: Online or Broker assisted trades are just $4.95 per trade with options an additional $0.65 per contract which is very competitive against nearly all their direct competitors.

Types of Account: Individual, Joint, IRAs

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Trading Platform: The TradeKing platorm is good, clean and easy to use with few distractions. Browse your gains and losses, balances & holdings easily accessible in the tabbed format.

You can also get a snapshot of all the essential facts about particular companies, see all the options and get good chart analysis.

Also included is news and free research tools.

Tools / Resources: TradeKing offers some excellent tools for the market investor, including Stock Screener, ETF Screener & Mutual Fund Screener.

Also included are some great Technical Analysis tools and the Maxit Tax Manager.

Perhaps the best support feature though is the extensive Trader Network and forums where you can discuss current trends an individual stocks with fellow traders.

Virtual Trading: None Available.

Account Transfer: TradeKing will reimburse you with up to $150 to cover the cost of transferring your account from another broker.

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