*sigh* This review pains me. I really like tradeking and I’ve been with trading happily with them for a number of years but lately the bloom has left the blossom. (This may or may be due to their switch to a new clearing firm.) Here are some recent examples:
1. The autotrade subscription, which I had just started, went down – it seemed it got into a loop and was buying/selling at random. Their autotrading was down from ~Dec 9 to ~Dec 19. During this period when I called they said it was down and didn’t know when it would be back up.
2. Viewing my GL Unrealized I get a message saying, ‘Our clearing firm Penson Financial is in the process of integrating key new features into your TradeKing account. During this time cost basis information for positions opened 12/19 and forward is temporarily unavailable. This information will be restored shortly.’
3. Submitting an advance order on a stock (that I did owned) it said I had to own the stock before I could trade it. I check with the help service and the recommendation was to call tradeking’s online broker.
Tradeking is still good with some things:
Pros: The trades are executed fast (and sometimes at a better prices), good prices on options and stocks commissions, the service desk is good, extensive educational materials, streaming prices, trader network/forums and ok trading tools. It would be nice to have more control over screening parameters, technical analysis, charting, and visual graphs on profit/loss for options strategies, and paper trading with back testing feature.
Up until recently I could recommend them but in good faith currently I can’t. Not until they fix their technical issues, shown it will not happen again, and it would be nice if they added some of the features listed above.
Overall – TradeKing is a 20th century Hyundai, easy to drive, cheap, good gas mileage, great in the past but starting to lag behind in the technology, missing the modern accoutrements one expects and lately has had a few transmission problems.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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