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TradeKing

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content.tradeking.co..
Category: Brokers

At TradeKing, you will pay just $4.95 a trade plus 65 cents per option contract. Period. We don't have any account minimums or hidden fees. We even charge the same price for broker-assisted trades.

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Not bad; not great either
I have an account with Tradeking for the great option rates. Outside of that they do offer good tools for researching option trades and a nice trading community. On the negative side, there is no trading platform or usable charting software. Recently, they did just launch tradeking live but to my disappointment it is just really a live streaming stock quotes and streaming option chains.

If it wasn't for the low cost options, i would probably switch to MB Trading.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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$1 Menu
You get what you pay for. It gets the job done like the $1 menu on Mcdonalds, but you wont get quality.

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3 of 4 people have found this review helpful.
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PipMaster Orange County, CA

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Great first broker for new trader
Its cheap and easy to use. Great for a new trader who is just learning how to trade or invest as the trades are pretty cheap. It doesnt have world class tools or anything like that. If you need that type of thing go to interactive brokers which is more expensive but has the tools for professionals.

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Kenly3 lexington, ky

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A simple cut and dry platform
TradeKing was simple to jump in and start trading. The low price was a nice feature and the research was blunt and to the point. The big downside for me was the extra fees on penny stocks, so I ended up moving my account to a competitor. I was surprised they made no effort to retain my business when I told them I was leaving. Bottom line: Easy to use and get started. Pro: Cheap fees Con: Not good for penny stock strategies.

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Pamod1 Irvine, CA

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Don't use if you're into Penny Stocks
I didn't know any better and started out at TradeKing because of their 5 dollar commissions and no account minimum balance. It was a good deal at first but if you trade anything under a dollar the .01 surcharge per share can really kill you. It basically kept me from trading a few stocks that could have been profitable.

They don't have actual software to use, just the browser based trading, and if you are not an active trader you don't get real time quotes on your watch list and you cant use the streaming quotes or scanning tools. You can request it but I read that you can be charged for it and it wasn't worth the effort. I think its ridiculous that you have to make 25 trades a month to be able to use tools that other brokerages allow for free.

The charting was rudimentary and I've found many free services on the web that were much more useful.

I will say customer support was very helpful and knowledgable the few times I needed them, but thats not enough for a long term broker.

I'm sure if you are trading options contracts or large stocks it would be a better brokerage, but for the penny niche I'd stay away.

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Rybizline Fayetteville, NC

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Just not for me
I tend to trade penny stocks and they charge an extra fee for pinks. Also, many times I had to call in for pink trades. Obviously, this brokerage was just not for me. For other securities, they have decent rates and tools. They also have a good community group. I would just not recommend this company for my fellow penny traders!

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Cici Fairfax, VA

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Easy to set up
TradeKing was easy to sign up for. And It's easy to put your funds into your account. One thing I didn't like is that you have to go into options in order to set up real time quotes. It seems to me that the overwhelming majority of traders want to trade with real time quotes.

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Beginner broker
TradeKing is an easy to use but outdated brokerage. Their website is simple at best but does have all the tools necessary to make a trade. The best part about them is their Trader Network. A lot of smart people with good ideas browse those forums and everyone should become a member. Right now TradeKing is undergoing a conversion that is popping up problems everywhere. I wouldn't look to join their brokerage until they get everything worked out and that could be awhile.

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TheSnowMan Houston, Tx

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Great Value Broker for Starters or Casual Investors
I used Tradeking when they first launched back in 2005, mainly because I could trade for $5. Although they're not at all fit for day trading, they're a great fit for anyone looking to do simple investing at a good rate.

Also, I found their option tools pretty nice, including their Option Playbook, which is amazing for anyone new to options.

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Sola NY, NY

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Best broker for active option traders.
Love Tradeking and their option tools and pricing. One thing i want to add to Southlaketrader's review is that Tradeking has a forum and a dashboard where all traders could see each others portfolios (if allowed by the user), and write comments on trades. You can also see a scrolling trading activity of what is hot and being traded by Tradeking traders as well as members' gains or losses (if allowed by the user). They also just added a "backtesting" tool.

CEO of Tradeking is very educated, and makes sure he has top notch talent working for them. At least in my experience, everytime I called, no matter how complex my questions were, the person answering the phone never put me on hold to go get an answer.

They really understand traders, hope it stays this way.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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EdgarAmbart San Antonio, TX

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