TradeKing is a discount online brokerage firm, providing online trading tools for self-directed investors to buy and sell stocks, options, bonds and mutual funds via electronic trading platforms or by phone. TradeKing was founded in 2005 and has offices in Fort Lauderdale, Florida and subsidiary offices in Charlotte, North Carolina.
The company was launched in December 2005 offering online brokerage services for active stock and option traders. The firm was an early user of social networking for investors and traders, offering free blog support and other Web 2.0-based tools to registered members and account holders since the firm’s inception.
In July 2007, TradeKing released the Options Playbook, a primer for options trading explaining common options trading strategies (or “plays”) in jargon-free terms.
On May 15, 2012, TradeKing and Zecco.com, announced they had agreed to merge their businesses.
On June 30, 2014, TradeKing announced the formation of TradeKing Advisors, an online advisor that creates a fully diversified portfolio and handles periodic re-balancing automatically.
On April 5, 2016, Ally Financial announced they had agreed to acquire TradeKing.
Awards and rankings
TradeKing was ranked the #1 discount broker in 2006 and 2007 by SmartMoney, the Wall Street Journal's business magazine.
In SmartMoney's 2008, 2009, and 2011 surveys, TradeKing finished top-four overall. The firm earned the maximum five stars for customer service in 2008, 2010 and 2011.
TradeKing earned four stars in Barron's ten-years running (2007–2016) in Barron's Annual Survey of Best Browser-Based Online Brokers.
Consumer Reports also ranked TradeKing third out of 19 brokerages reviewed in an independent survey conducted in May 2007.
|Trading Platforms||TradeKing API, TradeKing Forex Platform|
|Address||Fort Lauderdale, Florida, U.S.|
The only problem I have with tradeking is that I have to wait until March,15 to get my 1099.
This is the second year in a row this has happened,very irritating.Does anyone know if there
is a brokerage firm that provides a1099 on time?
TradeKing doesn't allow you to short stocks valued under $5 and they give you 24 hours to meet a margin call or they start liquidating your account.
On the Tradeking website it states that that $100 will be transferred "one" business day after all requirements are met. I met all requirements and after "three" business days I called and asked why my account was not credited. They said no it's 7 - 10 business after requirements are met. Even though I sent them the link and they agreed their own website stated "one" day they would not honor it. How's that for customer service?
They do not open accounts outside of the U.S. Not even if u are a U.S. citizen living abroad. TY...............
I do a lot of trading via my iPhone...Any feedback on there mobile app? The pros and cons??
I used to be a zecco now a trade king and scottrade. Scottrade for international stuff and Tradeking for domestic. I only had one problem when selling a stock with lots of shares over 20,000 if you sell an all or nothing and GTC one commission is charged if you sell and set a limit it could take years because they sell a few shares here and a few there even if the price is at or below the limit, why? Commissions of course.
I opened the account but their staff don't know how to read or fill transfer form. Everytime I tried to reach them, find new agent with no clue on the status of my account/transfer form. Everytime they give false information including supervisor, customer service. I AM FAD UP WITH THIS AGENTS/TRADEKING. I am not going to transfer fund anymore and deactivate my account. I don't know how they got good rating on customer service.
Maybe i will try another discount Broker
Trade King is horrible. Yes the fees are cheap. You get what you pay for. The live platform is worthless and cumbersome... does not even have simple features like the price change on an option on the option chain! Customer service (on "Chat" flat out lied to me several times in a conversation claiming information was wrong on my inbound money wire form. I had a copy the form in front of me during the conversation: not true. They just stall to float the money or are incompetant. The customer service phone calls leave you on hold for an eternity.
To be fair, the trades do get executed fairly well. The community feature is good. But the platform and live system is totally Flintstone compared to other online brokers. The customer Service via chat is frighteningly bad.
I used to use Zecco and moved to Tradeking as part of their merger. I have used Tradeking for quite some time. I am very disappointed with them. Their UI is not friendly as Zecco. Besides this, In last one month they restricted my account 2 times stating that they have returned as undeliverable mails, while I received mail from them couple of weeks back. I demanded the proof of returned mail but they declined. The customer service is very rude and uncooperative besides given issue.
Do not use TRADEKING for trading they have software issues that today just cost me over 200 dollars and they said oh its not showing anymore so theres "no proof" that it goofed up and they wont reimburse the funds like thinkorswim. I was lured by their cheap commissions on options...don't make my mistake of trying to save a few bucks that costs more in the long run.
Good customer service. The support person over phone walked me thorough how to start trading and so patiently. I am so happy I bought my first share :) Site is simple to use too, but I guess it helps when the customer service is good which I think Tradeking is known for. Thanks guys.
I have a non-funded account with TK, but haven't visited the site since the merger with Zecco was finalized. To me, it seems a lot zippier, informative and more intuitive than before. I have a few questions, so I think I'll try their vaunted customer service, before committing any funds, however.
On caveat......I did some research on stocks in my watch list, which I've done using Fidelity and Schwab composit analyses. On the same list of stocks, Fidelity listed 5 bearish, and Schwab 9. TK's composite listed 0--nada. I can't compare the analysts/agencies, but I'm wondering if TK cherrypicks the ratings for a favorable bias. Odd that there should be that much of discrepancy with the other two.
Love Trade King, been using them since February. 4 months trading options and loving it. Got tired of Scottrade's very poor portfolio manager and no free dividend reinvestment so I moved to Trade King for the low fees. It's easy to write the options from the option chain. I love the free dividend reinvestment. It seems quick enough for me, using limit/credit/debit orders. They originally said I would need paperwork to get reimbursed for the transfer fee, however, they reimbursed as soon as the fee showed up from Scottrade. I have had no problems with Trade King so far and I love it. My only other experience is with Fidelity, I do like them too but it seems easier to trade options with Trade King.
I am very happy Tradeking with options from past one year. Live chat support is excellent.
Anyone know if TK is a market maker?
I have been using TradeKing for almost 4 years now. I never had a problem or have been surprised by 'hidden fees' (aside from the regulatory fees of only a few cents that applies to all stock account brokerages and that's most likely disclosed on their website). I have read about their sometimes slow system -- but I'm at work, so to me there isn't any impact. I just place an order and let it sit for a while -- I'm certainly not a day trader. I would agree with the negative posts about the high fees on shares of penny stocks -- I know all of that is clearly disclosed on their website and not hidden in fine print anywhere. Obviously compare rates and fees so you aren't surprised! Each person's investing method is different and therefore should select the trading platform that would fit their needs.
I've also used Scottrade for at least 7 years. -- Both TradeKing and Scottrade are excellent. The fees and interest on margin accounts are comparable. And both customer service departments were very good on the rare occasions of calling. I would recommend either trading account.
Somebody stated that if you are a US citizen living abroad, you can not use a Tradeking account. Any confirmations of this?? Any other brokerages on this recommended list that have the same restriction?
I leaning to Charles Schwab because of it's no fee international ATM card, a big issue for me.
Overall I am very happy with Trade King, but the one glaring weakness to me is their charting platform. It feels very clunky and not very flexible for what I want to see. I can't have all the indicators I'd like, and it doesn't seem to save the settings that I do have all the time either. Also, their watchlist needs improving. You can only have 50 symbols on there, and you can't do an import of symbols from any file type or a mass delete, such as "Clear Watchlist", so you have to add and remove each individual stock yourself.
I'm totally new at this. When it says: "Stocks and ETFs: $4.95 (for stocks/etfs priced over $1)" does that mean 4.95 per share? that is if I bought 15 shares would I be charged 4.95 for each share or for the bunch?
I just joined trade king and have not yet put money in my account. I want real time trades but dont want any extra fees. Does anyone know if a casual trader can get real time trades at the normal 4.95 per trade?