Have you been looking for a discount online broker? Look no further than TradeKing. I’ve written about them in the past because they offer some of the lowest commissions in the industry and back it with fantastic customer service and trading interface. The rules are pretty simple. You just have to create a new account, fund it with $2,500 or more, and then place a trade. You’ll then receive a $50 credit in your account. It’s that easy.
Sure, it’s an easy way to get $50, but is it worth the trouble to sign up with TradeKing? I’d say that if you are looking to occasionally purchase individual stocks or trade options then you can’t do much better than TradeKing. I’ve had a number of brokerage accounts at TD Ameritrade, Schwab, Zecco, and TradeKing, but in terms of pricing and the online interface I really enjoy TradeKing. But don’t just take my word for it. You’re basically being given the opportunity to try them out for $50. If you place a trade or two and find out it isn’t for you it’s easy enough to transfer your funds elsewhere. Open your TradeKing account today and receive a $50 bonus! Offer ends on October 31st, so act fast.
This offer has expired (effective 11/30/09).
Here are some highlights that make TradeKing stand out:
Fair and Simple Pricing Structure
No matter how big or small your account or how often you trade, we charge just $4.95 per trade plus 65 cents per option contract. Even for Broker-assisted trades. There are no account minimums and no hidden fees. And no, we’re not pulling your leg.
Superior Customer Service
When you call TradeKing, you don’t have to navigate an endless system of phone menus. You can talk to a real live Broker, with short wait times, any time. You can even contact a Broker instantly using our online chat feature, if you’d rather type than talk. Rest assured, whatever service you need on your account, we make it easy for you to get it.
Innovative Trading Tools That are Free to All Clients
When you open an account, you’ll get access to our Profit + Loss Calculator, Probability Calculator, Technical Analysis Tool, Scanning Tools that work for your individual options and complete option strategies, and more. And best of all, unlike some of the other guys, we don’t charge you any fees to use them – no matter the size of your account.
User-friendly Trading Platform with Advanced Orders
Our trading interface is extremely intuitive and easy to use. Even ordering advanced option strategies like butterflies and condors is as simple as clicking a few checkboxes. And for you serious option traders, we offer a full complement of advanced orders – including trailing stops, contingent orders, one-cancels-other, one-triggers-other and GTC on spreads. What’s not to love about that?
An Expansive Learning Center
We empower investors to make more intelligent trading decisions by providing an ever-growing wealth of knowledge. You’ll get access to resources like the online Options Playbook – featuring, 40 different option strategies for any market conditions and all levels of expertise, live events such as webinars, The Options Guy Blog, overviews of how to best use our suite of trading tools, podcasts, market insights from industry experts, and much more.
An Innovative Online Trader Network
For many of our clients, this is the most fun feature on TradeKing.com. You can create your own profile and choose to share your trading activity using our ‘certified trade’ feature. See what others are trading and the rationale behind them and see how their trades are actually performing. You can connect with other traders, share your thoughts and learn new tricks for a changing market.
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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+.