Even with the stock market slipping, there are a good number of diverse online discount brokers to choose from. Discount brokers offer quick, electronic trades and the convenience of being able to trade from home, the office, or a smart mobile device. If you’re thinking about opening an account with a discount broker, you may want to consider TradeKing. TradeKing has always been one of the premier online discount brokers and we’ve got five reasons why.
Pricing – TradeKing’s pricing is simple and competitive. TradeKing clients pay a flat fee of just $4.95 per trade, plus an additional 65 cents for every option contract. TradeKing has no account minimums and no hidden fees. There is also no additional charge for broker-assisted trades, which is rare to find.
Customer Service – These days, it keeps getting tougher and tougher to find good customer service. Long wait times and complicated phone menus are the last thing you want when you have a question about a trade. In their latest broker service surveys, both SmartMoney and Kiplinger gave TradeKing their highest ratings in customer service. According to Kiplinger, a TradeKing representative answered their call in 20 seconds and responded to an e-mail inquiry in just 7 minutes. In short, TradeKing boasts short hold times, fast email responses and instant online broker chat.
Research and Trading Tools - When you open an account at TradeKing, you will receive instant access to an award-winning suite of powerful research and trading tools, including research reports, a tax manager, a probability calculator, a profit and loss calculator, screening tools for stocks and stock options, other technical analysis tools, and more. All this comes free to every TradeKing client. Again, TradeKing boasts no minimum balances or minimum number of trades.
Education – TradeKing offers one feature not seen at many other brokers: an innovative trader community. TradeKing provides the TradeKing Trader Network, a forum in which clients can watch and interact with each other. Clients can share what they’re trading and while using the Trade Note feature, begin and participate in forum discussions. TradeKing customers can also write blog posts about trading and investment strategy that allow clients to share experiences, ideas and strategies. The Trader Network displays the most popular trades being placed at TradeKing, the most widely held securities, and a live stream of trades as they are being placed. You can also monitor trading across the entire global market. The TradeKing leader board displays the top returns being achieved by investors on the TradeKing network. The network provides TradeKing clients to form groups with like-minded investors, allowing you to get together with other beginners, value investors, or day traders and discuss concepts relevant to your particular investment strategy.
Security – TradeKing boasts that their website uses industry-leading encryption technology to ensure safe and secure trading. In addition to their membership in the Securities Investor Protection Corporation, TradeKing carries additional third-party insurance. Clients can rest assured knowing assets are insured up to $25 million. TradeKing also offers several security features to ensure that only you can access your account. In conjunction with firewalls and secure socket layering technology, TradeKing uses an on screen keyboard for entering user names and passwords. This protects your password from being recorded by key loggers and malicious programs that record keys entered into your keyboard in order to determine your user name and password. TradeKing only allows a set number of failed attempts before locking your account, and it has a customized auto log off. All together, these measures go a long way in ensuring a safe, secure trading environment.
TradeKing has made our list of the best online discount brokers and they’re high on that list for a reason. To sign-up for a TradeKing account and take advantage of what they have to offer, visit the link below.
Published or updated February 16, 2013.