Broker Reviews

stock broker reviews

TradeKing Review

About TradeKing:

TradeKing was established in December 2005. In this very short duration they have come out as leaders and have made a niche for themselves in their own. They have recently launched their mobile trading application for iphone and Blackberry. They have recently expanded their information resources which includes movie clips for training, live webinars and options playbook.

What is unique about TradeKing:

TradeKing charges very low commissions and has been rated as the best in customer service by many prestigious organizations like The Wall Street Journal and Smart Money for the year 2011. TradeKing has a very high user friendly trading platform with all the glossy looks. Its research on stocks provides valuable information.

Recently, they are also available on the mobile for trading applications. They are the best in the industry when it comes to options trading tools.

They have recently launched more structured and beneficial pricing. The new pricing provides benefits for those who are high volume options trader and high volume spread traders.

Advantages of being associated with TradeKing:

  • Their newly launched mobile trading platform for Blackberry and iPhone. The mobile applications bring TradeKing at level with other online brokerages for on the go trading
  • There is a flat fee structure
  • There is no minimum deposit required to open an account with TradeKing
  • TradeKing has been rated as the best provider of customer care as per prestigious surveys by The Wall Street Journal and SmartMoney
  • The educative and informational database of Tradeking is exhaustive and is offered via TradeKing learning center
  • TradeKing provides community experience for online traders through its TradeKing Trader Network.

Challenges with TradeKing

  • TradeKing customer care chat service is not available round the clock
  • TradeKing mobile application doesn’t work for Android phones
  • Their bouquet of investment products is not as diversified as many other online brokerages in the market
  • TradeKing does not provide any banking services that few other online brokerages provide

The Final word on TradeKing

TradeKing has quickly risen and caught up with the other online brokerage houses in the market. They keep on innovating and the testimony to that is their trading platform. They keep adding helpful and informative features which they keep discovering through market needs.

TradeKing is one of the brokerages houses that keep traders needs in mind and keep innovating to make the trading experience a pleasure. It is one of the most highly recommended online brokerages in the market.

Deep Down analysis of TradeKing

  • To set up an account with TradeKing is very easy it is a simple 3 step process and you are done with your setting up an account.
  • The whole process to set up an account is as simple as any other brokerage

Fees/Commissions:

  • Stock trading is fairly priced at four dollars and ninety five cent of flat fee
  • For one to eight contracts there is a fee of four dollars and ninety five cents and an additional sixty five cents for every contract
  • For more than nine contracts there is a fee of eight dollars and ninety five cents and an additional fifteen cents per contracts
    • There is no in-activity fee
    • There is no maintenance fee
    • There are no hidden fees
  • TradeKing offers most economical trades and a non tiered structure. In total it is only four dollars and ninety five cents for any stock trade.

Investments Offered at TradeKing:

  • Basic stocks and
  • Options,
  • Mutual funds and
  • Exchange traded funds
  • There are other options available like
    • Fixed income investments like
    • CDs,
    • Bonds
    • US treasury issues (broker assisted only).
    • Solid option for Individual Retirement Accounts and Exchange Stock Portfolios.

Usability Customer experience:

The TradeKing platform is extremely intuitive and effortless to use. Effectively branded, and there are a full host of videos and resources to help you get started out and understand the system. Take the video tour to get an idea of exactly what their platform offers.

Awards and Accolades:

  • TradeKing was ranked number one in Customer Service in the SmartMoney June 2008 and June 2010 Broker Survey
  • Awarded the highest five star rating in Customer Service and Trading Tools in the June 2009 and June 2010 Broker Survey
  • “Best of Online Brokers” Personal Finance Broker Survey based on Research and Tools, Commissions & Fees, Investment Choices, Ease of Use, Customer Service
  • Ranked number one in Customer Service in the June 2011 Broker Survey
  • Named overall number one Discount Broker in the August 2007 Broker Survey
  • Overall number one Discount Broker in the August 2006 Broker Survey
  • Rated among the “Best for Options Traders” 2008-11
  • Ranked number one in usability in the March 2011 Barron’s survey.
  • Rated among the “Best for Long Term Investing” in the March 2011 Barron’s Survey.
  • Barron’s stated that “TradeKing’s site features new, slick tools that focus on finding and executing options strategies
  • TradeKing was rated number one in Customer Service in Kiplinger’s November 2008
  • TradeKing has won four out of five stars in Barron’s 12th (March 2007), 13th (March, 2008), 14th (March, 2009), 15th (March 2010) and 16th (March 2011) annual rankings of the Best Online Brokers based on Trade Experience, Trade Technology, Usability, Range of Offerings, Research Amenities, Portfolio Analysis & Reports, Customer Service & Access, and Costs

Trading/Investment Tools:

  • They have a great variety of options tool available
  • TradeKing offers community experience. Their social networking is available inside the platform. The network can help you share your trading tips, adopt a few from others. Talk to those who are there for a long time. Develop your own networking circle
  • Some amazing tools like
    • Free real time quotes
    • Streaming news
    • Charts
    • Graphs and
    • Useful calculators
  • Maxit Tax Manager: This functionality allows one to calculate their taxes from the trading
  • Research and educative material at TradeKing are exhaustive. Their tutorials are available in videos , articles and even MP3s along with pod-casts.

Customer Service/Support:

Their customer service is much talked about. They are available through an email, Phone and through live chat. Though the chat option is not round the clock. But their efficient service at the times available makes up for it.

Synopsis:

TradeKing rules the roost when it comes to great reviews. You can easily spot a great reference when you search for TradeKing in any of the search engines and see a plethora of great testimonies for TradeKing.

TradeKing has a great platform that is easy to use, and they have a non tiered pricing, there is absolutely no deposit required to open an account. TradeKing is one of the brokerages that should be given a try.

Comments are currently closed.