• In my opinion, one of the
best features of TradeKing is their
incredibly low commission structure. Trades cost a flat fee of $4.95 per
trade, with no minimum amount of trades. They also offer broker-assisted
trades for the same price. This pricing is among, if not *the* lowest to be
found anywhere online, so if you plan to be a high-frequency trader, this
could save you a lot of money over the long run. TradeKing also does not
require a minimum balance, making it easier than ever for people with lower
income levels to get into the stock market.
Click here for a complete
rundown of TradeKing's commission structure.
• TradeKing boasts an extensive online trading
community known as their Trader Network. In fact, they were the first company to establish a place where
traders can connect with one another and share strategies, experiences, tips
and ideas. This is a very valuable and useful tool for those who like to
absorb as much information as possible, and lets face it: this is your money
on the line here, it makes sense to learn as much as humanly possible in an
effort to lower risk. Click here
to visit TradeKing's Trader Network and see for yourself just how much
information is at your disposal.
• In a world in which customer service is
becoming less and less important to big companies, TradeKing is certainly
bucking the trend. Their customer service is, in a word, outstanding.
Friendly, helpful, knowledgeable, and quick to respond, you will almost
assuredly get whatever issue you have resolved in a very timely and
professional manner. They were named the #1 rated customer service in the
business by Smart Money, giving prospective clients tremendous piece of
• Like with most good
things in life, there tends to be a catch. TradeKing’s $4.95 trade
commission is fantastic, however it does not apply to all stocks. For
stocks that are under $1, TradeKing
charges an additional $0.01 per share, per transaction, with a maximum
commission rate set at 5% of the total order value. This is definitely a
bummer for those who like to play the penny stocks, as these fees will
add up fast. However, if you don’t plan on buying the cheap stocks, this
is of no concern to you.
TradeKing FAQ Snippet
Is there an account minimum?
A: No, at
TradeKing there are no account minimums.
What fees apply to IRAs?
TradeKing does not charge an annual fee for maintaining an IRA
account. However, the account may be subject to...continue reading.
• The platform is not bad, especially for a
discount broker. Ultimately, this sort of thing is going to come down to
personal preference, and while I don't have any big issues with
TradeKing's platform, I can't honestly rank it among the better ones out
• TradeKing does have a couple of annoying
fees that it can hit you with if you’re not careful. For example, there
is a $50 account inactivity fee that will come into affect if your
account has been inactive for 12 months along with having a balance
below $2500. Again, not something that will apply to everyone so you
have to decide for yourself if this matters to you.
Click here for a complete rundown of TradeKing's fee structure.
Depending on how you plan to trade in the stock market,
might just be your best option. If you plan to be an active
trader who sticks to stocks that are above $1 per share, then you will
benefit greatly from TradeKing’s low commission rate and will not get hit
with an activity fee. If you’re planning on trading penny stocks, however,
you might want to continue reading other reviews to find a brokerage more
suitable for your needs.
Getting Started in the Stock Market:
So you've reached a point in your life where you
can afford to invest some money in the stock market.
Congratulations! You are now among the fortunate few who have that kind
of money. However, the stock market is not something to rush into. Here
are some tips to get you started on the right foot...
Continue Reading »
Gotten through the initial education stages of
investing and still want to get in the game? Excellent. However, there
are still more things to consider. Before you run off and invest your
hard-earned money, there are a few more things you should consider
before jumping in.
Continue Reading »
You've put the work in. Educated yourself on the
basic terminology of investing. Researched company after company and
made your decision(s). It's time to decide which online broker is right
for you, register an account and get in the game. But as always, there
are things to consider...
Continue Reading »