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Tradeking Review

Shiryee MaReviewed By: Rating: ★★★★☆ (4) Updated On: Dec 26, 2014

All You Wanted to Know About This Marvelous Online Stock Trading Tool

Do you like to trade independently? You are somebody who is looking for an online stock trading tool that can just direct you and you will handle the rest. Well, if that is what you want, then TradeKing is the perfect answer. In this review, we will take a look at some of its features and find out if it is meant for you.

Tradeking review

About Tradeking

The discount brokerage firm was launched in December 2005. Trading services for option and active traders are provided. In the year 2012, TradeKing and Zecco, which were the first socially-enabled online brokerage firms, merged their businesses. They have always focused on providing quality client service through the social media mediums and mobile phones, which it has quite successfully.

Investment offers

The discount brokerage firm offers fixed income investments including bonds, U.S. Treasury and Agency Issues, and CDs. You can choose the kind of investments you want after going through them by communicating with a representative of the firm. Few of the trade research tools are market overviews, watch lists, quotes, technical analysis, scanners, options chains, charts, and calculators.

Fees and Commissions

The fees and commissions charged by the discount brokerage firm are non-tiered. Regardless of your trading activity, you are going to be charged the same. When want to do options trade, then you will have to pay $4.95 and $0.65 per options contract. The one thing that you will like about this online stock trading tool is that they charge the same fees, irrespective of the balance remaining in your account.

That is something which deserves credit. This feature cannot be found in other discount brokers, who charge based on your account balance. That affects your account balance. Due to their fair pricing, traders can maximize their profits. At the time when you want to trade more than eight contracts, then you will have to pay a base fee of $8.95 and $0.15 per contract. When you are going to trade less than eight contracts, then your base fee is $4.95 and $0.65 for a single contract.

These pricings are unbeatable. When you are looking for an online stock trading platform that provides cheap fees, then TradeKing it is. There is no looking back. As you can see, no matter the kind of trading you want to involve in, the fees and rates are pretty low. This allows you to focus your efforts on trading.

Trading Tools

The trading tools offered by the discount brokerage firm are pretty straight forward. You can make use of their investment options which include mutual funds, options, stocks, and exchange-traded funds. You will want to know that you cannot buy fixed income investments through their website.

To do that, you have to communicate with their representative through phone and then place your orders. The online stock trading tool provides you with two interactive charts. You can perform your own research and strategies using these charts. You also have several technical analysis tools which let you forecast price and understand the markets in a better manner.

Tradeking review2

Help, Supports and Resources

This discount brokerage firm provides one of the best customer supports. They can be contacted through phone, email, and chat. They usually respond to your emails within two hours on working days. In the weekend, you can expect them to reply you within 24 hours. You will want to keep in mind that this is an online broker and does not have branch offices.

You will want to think about that before signing in for an account. Few traders are particular about visiting the office or like to trade by meeting up with brokerage traders themselves once in a while. If you are one among them, then you will want to think again. This cannot be termed as a drawback, but the simple fact that the firm is making use of the technology and has always wanted to remain online.

Unless you like working independently then this online trading tool is for you.

Awards

The discount brokerage firm has finished top-four overall on SmartMoney’s during the 2008, 2009, and 2011 surveys. The customer service of the firm has also earned the maximum five stars during the years 2008, 2010, and 2011. TradeKing earned four stars from in Barron’s Annual Survey of Best Browser-Based Online Brokers for the years 2007, 2008, 2009, 2010, and 2011.

TradeKing was also ranked third out of 19 brokerages by Consumer Reports, when it was reviewed in an independent survey conducted in May 2007.

Summary

On the whole, TradeKing offers you with excellent value. Their pricing is not high, but reasonable. Their trading tools and research information are extremely helpful. You can also make use of their customer service which is quite good. They respond to your queries relatively quick.

When you are inactive and your account is lesser than $2,500, then you need to pay $50 to maintain it. You are provided with fixed income investments and basic investment options. The educational tools which are provided on their website can help you learn how you can operate their website without hassle.

Review Overall

Recemmended
Summary: The firm is perfect for independent traders who feel confident about their trading decisions. If you are somebody who has some experience in trading and wants to go to the next level, then you might consider this online stock trading tool. TradeKing provides you with a whole set of trading tools that can enable you to trade competitively.
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