TradeKing Review - Why This Award-Winning Broker Is The Real Deal
TradeKing has gained many awards from the likes of SmartMoney, Barron's and Consumer Reports
since December 2005. The personal experiences of so many users with the discount brokerage firm headquartered in Fort Lauderdale have almost
everything to do with this TradeKing review.
Let's start with the account application process. You will take just five minutes to open an active account with TradeKing,
which requires four screens including the confirmation screen. You will be asked for basic personal information like name, address and social
security as well as your desired trading methods (i.e., on margins or with options). It's quick and easy.
This TradeKing review will be incomplete without mention of the TradeKing Community. It's simply the company's ways of
cashing in on the social media trend by creating its own, well, social media where traders can share their opinions, tips and thoughts on
whatever relevant matter is on their minds. Still, we must say that signing up for TradeKing was not about making friends with people - it was
about making friends with money.
And speaking of money, we have good and bad things to say about TradeKing's policy on transferring funds. On one hand, you can
easily finish the transaction itself by going to the navigation menu and then clicking the right icons. On the other hand, the waiting period
of 5 days to set up the ACH link and the ACH deposits in certain cases can become a pain.
Fortunately, the site's trading screen is user-friendly while still being sophisticated in its features. This is an observation many a
favorable TradeKing review has also noticed. You will be immediately provided with the useful information on the ticket trade form once the quote
has been completed, thus, eliminating the inconvenience of clicking on more icons on the screen.
Now, let's assume that you have made a profit on a trade and you are not exactly the tax man's best friend in math. You will want to pay the
right amount of taxes on your profits - on your losses, too, for that matter - but you don't want to be bothered by the process.
Luckily for you, the Maxit Tax Manager offers many features that will make the tax man away from your back. The feature also
allows for automatically adjusting costs for corporate actions, calculating gains and losses, and generating tax reports, among others. Before
writing this TradeKing review, we did not realize that this is one feature that we needed.
And speaking of yet another need, research tools are also essential in making the right decisions in trading. TradeKing utilizes the
MarketGrader system, which is basically a large quantitative calculator with the recommendation given in a single number - the
Overall Grade. You may want to just crunch your own numbers since this system can be confusing.
To balance off the deficiency in research, TradeKing offers good educational venues like the Options Playbook. Add
in the excellent customer service and TradeKing deserves its high rankings in the industry.
We cap off this TradeKing review by saying that the company fees are one of the most reasonable among discount brokers. You have the benefit
of no account maintenance fees, no minimum balance requirement, and low trade fee at just $4.95 a trade. All this makes TradeKing a broker worth
considering for your investment needs.