TradeKing is an online stockbroker that offers a variety of trading options to help you build your portfolio. It offers a great selection of investment tools, charts, graphs and calculators to help you manage your account. The education center has free resources to teach you about different types of investments and trading styles. It also has an active trading network to connect you with other traders to exchange ideas and get advice for stock trading online.
TradeKing is a good choice for both beginning and advanced traders. Its low prices and range of investment opportunities make it a strong choice in online stock trading, which is why it is our Top Ten Reviews Silver Award winner.
TradeKing offers a low flat rate fee of $4.95 for stock, ETF and option trading. Its trade fee is not tiered, meaning you get the same price no matter how much or how little you trade. The price for broker assisted trades is only $20. There is a non-activity fee of $50 if you make no commissioned trades in a 12 month period and if your household account is less than $2,500.
TradeKing offers more investment options than most online trading services. In addition to offering basic choices like stock trading, ETFs, bonds and options, TradeKing offers trading on the international stock exchange and forex trading.
Key features of TradeKing investments are extra hours trading and auto trade. With extra trading hours, you can place your orders as early as 8 a.m. Eastern time and they will go active at 9:30 a.m. You can make post-market trades up until 4 p.m. that stay active until 5 p.m. Eastern time. These extra trading hours provide you the chance to make the most of your online trading by allowing you additional time to react to changes in the market.
The auto-trade feature allows you to automate your investments based on the recommendations of a TradeKing investment newsletter that you choose. Some of the newsletters include WiseOptions, TradeGeeks, OptionSmart and Option Principal. Each newsletter is geared toward a different investment style. TradeKing customers can enroll in the auto-trading plan at no additional cost. Be aware, however, that the regular trade fee of $4.95 applies to all trades made in the auto-trading plan. To enroll, you do not need to maintain a minimum balance or commit to a certain amount, but TradeKing recommends that you leave enough in your account to meet the minimum requirements on most trades.
A wide variety of investment and trading tools are available to help you make the most of your investments. These tools help you track movements in the market and view your account information in detail.
Market snapshots and stats provide both real-time and long-term views into the market. Snapshots show you quick pictures of what is happening in the market, while stats chart the 200-day averages of stocks. Other tools allow you to get in-depth looks at possible investments by showing company profiles and financial reports. With these tools, you can see company equity, profit margins, returns on assets and business descriptions – information that is vital when you are considering putting your money into a company. The watch list allows you to monitor investments you are interested in, in real time. You can also get streaming quotes.
TradeKing offers technical analysis and research reports help you gauge future movements in the market, and the company provides complex information in chart form to make it easy to understand. You can customize several interactive charts so that you easily see the data you want to view.
The education center is full of useful information about investments, investing styles and investing terms. You can choose the information you want to learn about based on your level of trading experience or by the topic.
Beginners can learn basics about investing by reading short, comprehensive guides and blogs written by other traders. A key feature in the beginners section is the Featured Rookie Strategy, which gives you thorough breakdowns and explanations of investment strategies. These guides can even be useful to seasoned investors curious about using a new strategy. If you need additional assistance with your trading, you can access customer service agents over the phone, via email or through live chat.
TradeKing's non-tiered rates and uncomplicated pricing make it a good value among online stock brokers. You'll also get useful research information and analytical tools, and you have access to educational resources and customer service if you need it. With TradeKing's strong trading and investment tools, you can analyze your options carefully and then execute with precision.
TradeKing offers a low, flat-rate trade fee.
Customer support is not available 24/7.
TradeKing provides good value for both beginning and advanced traders.