TradeKing

What do you expect for cheap

alright. the title says it all but there actually are better places for less. Look into Interactive Brokers for better prices and fills.

Chadmorgan

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It's ALWAYS something

I've been with Tradeking for over 2 1/2 years now and they are my primary trade account for buying and sell long and short term stocks. When I first started managing my own stocks, I chose them based on their high marks for customer service. Being brand new to trading, that was all I really knew was important to me at the time. Now that I've been there awhile, I can only tell you my opinion based on my experience with them and only them. First of all...there is always some reason it seems why my information is not accurate. A stock split takes up to several weeks to reflect correctly in their system...their pension house is making updates...the system tripled the split, instead of just doubling it....it's sunny out....it's cold out (ok, i'm being facetious, but you get my point)....it is ALWAYS something. I've even gone into my account to see that suddenly, there is a huge deficit for no particular reason. It is only temporary, but still...it doesn't seem right and it sure isn't good for my blood pressure or mood. Yes, their customer service seems well enough, but that is of little importance when I can't get an accurate read of my account and stocks I purchased three days ago still aren't showing up on my Unrealized Gain/Loss Screen. If you are only trading a few hundred dollars, maybe your account being accurate at all times isn't that important, but if you have a lot of money you are trying to invest, I'd do a lot more research before settling with Tradeking. I can't imagine they would all be this bad, but without any other experience, I can only rate my experience and extreme disappointment.

Busy6

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Good First Broker

This is my first online Broker and so far it has been a good experience overall. The customer service has been phenomenal to me. Since I am a new trader I had and have tons of questions and they were always very helpful for me.

Broncostrong

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Cheap commissions for cheap tools

I used TradeKing for a good half a year trading stocks and options and the commissions have been great. The problem is that it's for trading and trading only. You won't be able to chart or effectively screen stocks even though they came out with a live platform a few months ago. The community is a nice bonus but all in all I would prefer to have a chart in my trading platform.

Chhansen

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Last year's economy car, cheap but with transmission problem

*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.

Phillip

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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.

Rndy270

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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.

PipMaster

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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.

Kenly3

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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.

Pamod1

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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.

Rybizline

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