TradeKing Review 2009

Buy Stocks for $4.95 at Tradeking

Tradeking is an online discount brokerage firm that specializes in options trading, stocks, mutual funds, and retirement investment accounts.

Tradeking Commissions and Fees

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Stock Trades

Tradeking Stock Trading Fee Comparison

• $4.95 Stock Trades
• $4.95 Broker Assisted Stock Trades

Options Trades

Tradeking Options Trading Fee Comparison

• $4.95 + $0.65 per Contract Options Trades
• $4.95 + $0.65 per Contract Options Trades

Mutual Funds

• $14.95 Mutual Fund Trades

Bonds

• $4.95 per Bond Transaction

Overall Tradeking Comparison

Tradeking Fee Comparison

TradeKing Options Trading Tools

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When you conduct research on a specific equity position, TradeKing has technical analysis reports, volatility charts, and analyst recommendation to aid your investment research.

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For options traders, TradeKing supplies a plethora of advanced options trading tools such as:

• Options Calculator - allows on-the-fly calculation of options volatility & risk depending on your implied data
• Profit/Loss Calculator - TradeKing’s PL calculator is my favorite tool for calculating potential profit taking in value options.
• Probability Calculator - Calculates the probabilities of the future target price of the underlying stock.
• Options Scanner - Scans over 150,000 options contracts to help you find the perfect options position

I wish TradeKing provided more stock trading tools to balance out the tools available exclusively to options traders.

TradeKing Customer Support

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Here’s a short story to demonstrate how reliable Tradeking’s customer support staff is when you have a problem. When I first joined Tradeking, I wanted to buy AZMN leaps but had trouble understanding which strike price would be the most profitable. I called up Tradeking and waited about 15 seconds to reach a customer service representative. I explained my problem, and the Tradeking customer service rep spent 10 minutes explaining to me how Leaps worked and referred me to the free Tradeking options blog.

Not only did the representative answer my question, but Tradeking educated me on options trading which is priceless. I recommend calling them if you have any technical or educational questions whatsoever.

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Tradeking Ease of Use

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Your dashboard is setup into separate tabs, making it easy to move around the website. Sections are broken down into:

• Welcome
• Accounts
• Trading
• Quotes + Research
• Tools
• Community
• Education
• Services

There are also help sections and video tutorials to help you become familiar with the website. I spoke to the marketing manager at Tradeking recently, and they redesigned the site navigation to make it easier to get around the website.

Tradeking Security

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Tradeking Security at Login

Tradeking Security Filiters

Tradeking uses 256-bit SSL security to protect your assets, login information, and account information. Also, Tradeking implemented a new popup security screen every time you login to your account. Spyware, hackers, and internet thieves cannot steal your information with these security filters in place.

Tradeking Sign Up Process

First, Visit the Tradeking homepage and open an account. You arrive at a page that ask you to enter your basic information and your account settings. When you enter your password, an encrypted popup appears on your screen. This ensures your password is safe and secure.

Select Your Tradeking Account Type

Tradeking Step 1 in Account Open Process

Tradeking will ask you which type of account you would like to open. The following account types are:

• Individual Tradeking Account - account ownership by a single individual
• Tradeking Joint Account - account ownership by two or more people equally. Each owner can trade and transact on the account.
• Custodial Tradeking Account - account that is managed by an adult custodian for the benefit of a minor, with assets legally owned by the minor
• Traditional Tradeking IRA - an investment account used for retirement
• Tradeking Roth IRA - a retirement account where qualified withdrawals are tax exempt for those who meet the IRA limits
• Tradeking Rollover IRA - a retirement account that holds 401k funds or qualified retirement plan

Create Your Personal Tradeking Profile

You enter your personal information such as name, address, phone number, occupation, etc. Your information is 100% secure backed by a 256 bit SSL encryption certificate.

If you’re employed, Tradeking requires your employment information because FINRA regulations require Tradeking to collect the employment information for your account prior to approving and opening the account.

List Your Investment Objectives

You need to enter your goals and objectives for your new tradeking account. If you want to trade on margin, you must also apply for this priviledge. Trading on margin allows you to borrow to increase your stock buying power.

Check the Terms & Conditions and You’re Done

Once you read and agree to the terms and conditions, you can begin trading in your new Tradeking account. The complete application takes about 5 minutes, and is really simple to navigate.

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Transfer Funds using Tradeking ACH Transfer

The easiest way to start trading is to transfer funds using ACH Transfer. This links your bank account to your brokerage account. This is a good way to move funds in and out of your TradeKing account, however ACH setup takes 10 business days before you can begin trading.

You can also transfer funds using:

• Wire Transfer - This is the fastest way to fund your account and begin trading. Once the funds have been deposited into your brokerage account, you can place your first trade. Depending on how quickly your bank initiates the wire, this method can take a few hours to one business day.
• Mail Your Check - This is next in line as far as speed is concerned. If you mail us a cashier’s or bank check you can trade as soon as we receive and verify the check with your bank. Please instruct your bank to make the cashier’s or bank check payable to TradeKing AND name you as the REMITTER on the check. Your name must also appear on the TradeKing account where you intend to make the deposit. If you mail us a personal check please allow 5 business days prior to placing a trade.
• Account Transfer (ACAT) - If you are transferring outside of another broker or mutual fund company, use this form to initiate this process. It generally takes 7-10 business days when we receive the paperwork, assuming everything is in good order. If you have questions on how to complete this form, please call us at 877-495-5464 or contact us via the “live help” link at the top of this page.
• IRA Account - If you are making a contribution you can either send us a check or a wire. However if you are sending us a Rollover to an IRA account distribution you’ve taken, please complete and mail the IRA Rollover Certification form with a check only.

Place Your 1st Tradeking Trade

1. Click the Trading tab and Enter a stock or mutual fund symbol
2. Enter either buy or sell then the amount of shares
3. Select Limit Trade and enter your price limit (i.e the most you will pay for a share)
4. Select Day order or Good til Canceled
5. Click Preview order to review everything then hit submit

$150 Tradeking Promotion For Switching Brokers

You can receive up to $150 promo code for switching to Tradeking. Here’s how to do it:

1. Open a New Account or if you already have an account, log in.
2. Complete and print an Account Transfer Form
3. Mail or fax the signed Transfer Form to TradeKing along with a copy of your most recent statement. (via your previous broker)
4. Request your account transfer reimbursement by faxing a copy of your account statement with proof of the transfer charge to 561.988.0131

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