#4 TradeKing Review
9.6* /10Our Rating
User Rating

TradeKing

Built on the concept of providing high quality service to traders without charging them extreme prices, TradeKing offers an economical and intuitive approach to your stock portfolio. TradeKing gives you access to your commodities with helpful customer service at your disposal via phone, email and chat. Once you’re ready to trade on your own, you’ll find equally convenient trading tools and platforms that could put your financial future in your hands. Best of all, if you switch to TradeKing today, the company will cover up to $150 of your trading commissions for your transactions.

History

For almost a decade, TradeKing has provided stocks and options trading for customers who have come to trust the company’s honest and innovative services. Meanwhile, another company called Zecco Financial launched at almost the same time, with a similar business outlook and ethos. When the two merged forces, they became the full-service powerhouse that is TradeKing. The end result is that you’ll get a customer-first experience, with tons of innovative tools and resources that could help you get ahead in the ever-changing world of commodities trading.

Pricing

One of the most attractive features of TradeKing is its impressively low pricing, which is frankly much lower than many other top-tier online brokerages can match. With stock and option trading for an almost unheard of $4.95 per transaction, you could conduct your business with a lower overall cost. You’ll also have a $0.65 per contract fee on your options, which is very competitive with other brokerages. Throw in a very low mutual fund trade fee of $9.95, and you’ll see that TradeKing has a lot to offer savvy traders trying to save cash.

FEES AND FIGURES
  • Stock Trade Fee $4.95
  • Options Base Fee $4.95
  • Options Per Contract Fee $0.65
  • Mutual Fund Trade Fee $9.95
  • Number of Mutual Funds 12,000+
  • Broker Assisted Trade Fee Regular Commission
  • Broker Assisted Per Contract Fee $20
  • Commission Free ETFs N/A
  • Minimum Deposit $0
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Interface

With a bevy of powerful tools at your disposal, it’s easy to see why so many people choose TradeKing to implement their trading techniques and strategies.TradeKing offers many platforms for users to trade from, one of which is their live streaming platform called TradeKingLIVE. This service is helpful when executing trades, though it might not be the easiest layout for newcomers to follow.

For starters, most high quality trading platforms will offer some sort of graphic interface, which allows you to track in real-time how your holdings are performing moment to moment. TradeKing LIVE, on the other hand, is laid out more like an online banking site, though this shouldn’t startle most people who are comfortable reading spreadsheets. Again, for experienced financiers, this should pose no major hurdles in understanding your holdings.

While TradeKing offers a wealth of information in terms of stock stability research in an attempt to potential minimize investor risk, it is not very well integrated with the regular platform. You’ll have to open it from a completely different section of the website, which can be quite the hassle for someone trying to trade on a single screen. Again, though, most experienced day traders will use multiple monitors to conduct their research while they watch their tickers simultaneously, and this slight detraction won’t turn them off from TradeKing’s impressive prices.

Resources

As stated above, it could be a little perplexing why TradeKing’s research area is fully partitioned from the trading platform itself, especially once you see how easy it is to use the research tools at your disposal. With interactive charts and option chains, you could really experience a sense of control while using these handy tools. Probability and profit loss calculators could remove even more stress from the situation for concerned investors.

With both fundamental and technical analysis reports at your disposal, you could become one of the most informed traders around. TradeKing offers these services free of charge to all of its clientele, meaning there’s no tiered information reserved for “premium” members—further driving home TradeKing’s philosophy of treating every customer just as important as the next, regardless of how big (or small) the amounts they’re trading.

One of the nicest things about TradeKing is its active community, where executives are just as likely to participate as customers. With integrated blogging, everyone is allowed to voice their opinion, offer their advice or reach out for assistance. If you’ve ever felt awash in a sea of figures and decimal points, this human element could make all the difference in your trading experience.

The Good

TradeKing offers some of the lowest prices among online brokerages

The Bad

The site doesn’t have a quote banner to help you see the value of your holdings

The Ugly

Very difficult to research and trade with a single screen setup

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