TradeKing's main strengths are low-cost trades and excellent customer service, according to reviews. There is a flat fee of $4.95 per trade for trades of any type, and 65 cents per option contract. With no minimum to open an account, this online broker is ideal for those who are starting to build a portfolio. You can swap ideas and advice online via the popular TradeKing Community, which includes TradeKing's CEO as well as trading professionals. If you want a broker with banking services and a greater range of investment products, reviewers suggest Fidelity, but commissions are higher.
The most credible recent reviews of TradeKing we found are those by SmartMoney magazine, Barron's and Kiplinger.com. TopTenReviews.com and Stockbrokers.com also provide helpful feedback, while StockTradingtoGo.com and FiveCentNickel.com offer brief reviews that are more like descriptions, with some wording taken directly from the broker's website.
This annual broker survey ranks10 brokers and names the best brokers in several categories, including commissions and fees, research and customer service. TradeKing is ranked sixth overall. The authors of the review praise TradeKing's customer service, but they are disappointed that customers can't purchase stocks listed on foreign exchanges.
Review: Best and Worst Brokers of 2012, J. Alex Tarquinio, May 16, 2012
Barron's ranks 27 online brokers, rating them in several categories. TradeKing is ranked eighth overall and among the top five for long-term investing. Reviewer Theresa Carey lists among its pros an "active and engaged community of traders," along with "great tools for options traders."
Review: Cut the Cord, Theresa W. Carey, March 12, 2012
TradeKing is ranked eighth of 14 in this review of the best online brokers for 2011. According to the brief write-up, TradeKing "offers competitive pricing and great resources for investors interested in getting started with options. … However, the site's primary focus isn't on long-term investors, and it shows."
Review: Best Online Brokers for 2011: TradeKing, Elizabeth Ody, Jan. 2011
TopTenReviews.com reviews 18 brokers, ranking TradeKing third among them for the second year in a row. The review of TradeKing praises its low costs and "exceptional customer service and trading education."
Review: TradeKing Review, Editors of TopTenReviews.com
Stockbrokers.com names TradeKing one of the five best brokers for commissions and fees, and ranks it sixth out of 24 overall. The site also gives TradeKing Best in Class awards for 2012 in the categories of customer support and options trading.
Review: TradeKing Review, Editors of Stockbrokers.com
Blain Reinkensmeyer ranks TradeKing third out of top five online brokers. He cites its low costs, good customer service and online trading community as pluses.
Review: 5 Top Online Stock Brokers, Blain Reinkensmeyer
This website is maintained by an anonymous individual who describes himself as a self-taught financial wizard. The short article (actually more of an annotated list) is based on the results of his request for readers to list their favorite online discount brokers. It's not clear how many readers responded. Six online brokers are featured, including TradeKing.
Review: Best Online Discount Brokers (Updated!), "Nickel"