TradeKing was launched in 2005 by Donato A. Montanaro of SureTrade with an aim to provide inexpensive trades in the competitive discount brokerage market. TradeKing is a privately held NASD member brokerage firm. Each account is protected up to $25 million through SIPC and their clearing firm.
TradeKing offers the most widely used investment vehicles such as stocks, bonds, options, mutual funds and ETFs. While they do offer various fixed income investment choices, many are not available for purchase through the online trading system.
Fees and Commissions:
One of the most attractive features of TradeKing are the low commissions and fees. Tradeking uses a flat-fee and non-tiered commission schedule with stock trades at $4.95 per trade and option prices at $0.65 per contract. There are no minimums or hidden fees.
Technology and Trading Features:
TradeKing offers a complete online trading system that allows efficient order entry and tracking. Their powerful charting tools are provided by Recognia and can automatically identify many technical analysis trends and chart patterns. One thing currently lacking is the ability to place trades via wireless device.
TradeKing also boasts a large collection of educational material to help everyone from beginners to experienced traders. Educational tools come in the form of articles, instructional videos and even downloadable podcasts.
Good service is important and TradeKing is no exception. You do not have the fully automated telephone trading systems provided by some brokers but if you have questions help is never far away. You can contact TradeKing by phone or even live chat. One of the more interesting features is that of the online community where you can interact with TradeKing staff and other TradeKing users to share strategies and information.
With low cost commissions on the most widely used investment options TradeKing makes a solid platform for the new active trader. The combination of educational tools and the interactive online community make this an innovative and friendly brokerage platform.
5455 N. Federal Hwy, Suite E
Boca Raton, FL 33487-4994
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Filed Under: Investing
About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.