Tradeking
Encyclopedia
TradeKing is a privately held discount brokerage
firm with headquarters in Fort Lauderdale, Florida
, and subsidiary offices in Charlotte, NC.
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 accountholders since the firm’s inception.
In March 2007, the firm opened a second office in Charlotte, North Carolina
. In November 2010, the firm moved from Boca Raton, FL to Ft. Lauderdale, FL.
In July 2007, TradeKing released the Options Playbook , a primer for options trading explaining common options trading strategies (or “plays”) in jargon-free terms. Investors can access a free online version of the book's full content at http://www.optionsplaybook.com.
, 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.
SmartMoney’s 2011 broker survey compared a total of sixteen brokerages on their merits across six categories: commissions and fees, mutual funds & investment products, banking services, trading tools, research, and customer service.
TradeKing earned four stars in Barron's
five-years running (2007, 2008 2009, 2010 and 2011) in Barron's Annual Survey of Best Browser-Based Online Brokers.
In its 2011 survey Barron’s recognized TradeKing as one of the best brokerages for options traders, long-term investing and #1 for site usability among brokerages reviewed. The Barron’s survey measures overall brokerage performance based on eight key aspects: trade experience, trading technology, usability, range of offerings, research amenities, portfolio analysis and reporting, customer service and access, and cost.
TradeKing earned four stars and finished fourth overall out of 23 brokers in the StockBrokers.com 2011 Online Broker Review . The broker was also recognized as having the "Best Investor Community". StockBrokers.com's 2011 review provides in-depth analysis for seven categories: commissions and fees, ease-of-use, tools and research, customer service, offering of investments, education, and mobile trading.
Consumer Reports
also ranked TradeKing third out of 19 brokerages reviewed in an independent survey conducted in May 2007.
TradeKing charges an annual fee of $200 for simple LLC or corporate accounts. They also charge $50 for a simple 1099 for these accounts.
Discount brokerage
A discount brokerage is a business that charges clients significantly lower fees than traditional brokerages, typically offering comparatively fewer services and/or support.-Securities:...
firm with headquarters in Fort Lauderdale, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, and subsidiary offices in Charlotte, NC.
History
Launched in December 2005, TradeKing offers online brokerage services for active stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
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 accountholders since the firm’s inception.
In March 2007, the firm opened a second office in Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. In November 2010, the firm moved from Boca Raton, FL to Ft. Lauderdale, FL.
In July 2007, TradeKing released the Options Playbook , a primer for options trading explaining common options trading strategies (or “plays”) in jargon-free terms. Investors can access a free online version of the book's full content at http://www.optionsplaybook.com.
Industry awards and rankings
TradeKing was ranked the #1 discount broker in 2006 and 2007 by SmartMoneySmartMoney
SmartMoney The Wall Street Journal Magazine of Personal Business was launched in 1992 by Hearst Corporation and Dow Jones & Company. In 2010, Hearst sold its stake to Dow Jones. Its first editor was Norman Pearlstine....
, the Wall Street Journal
In SmartMoney
SmartMoney’s 2011 broker survey compared a total of sixteen brokerages on their merits across six categories: commissions and fees, mutual funds & investment products, banking services, trading tools, research, and customer service.
TradeKing earned four stars in Barron's
Barron's Magazine
Barron's is an American weekly newspaper covering U.S. financial information, market developments, and relevant statistics. Each issue provides a wrap-up of the previous week's market activity, news reports, and an informative outlook on the week to come....
five-years running (2007, 2008 2009, 2010 and 2011) in Barron's Annual Survey of Best Browser-Based Online Brokers.
In its 2011 survey Barron’s recognized TradeKing as one of the best brokerages for options traders, long-term investing and #1 for site usability among brokerages reviewed. The Barron’s survey measures overall brokerage performance based on eight key aspects: trade experience, trading technology, usability, range of offerings, research amenities, portfolio analysis and reporting, customer service and access, and cost.
TradeKing earned four stars and finished fourth overall out of 23 brokers in the StockBrokers.com 2011 Online Broker Review . The broker was also recognized as having the "Best Investor Community". StockBrokers.com's 2011 review provides in-depth analysis for seven categories: commissions and fees, ease-of-use, tools and research, customer service, offering of investments, education, and mobile trading.
Consumer Reports
Consumer Reports
Consumer Reports is an American magazine published monthly by Consumers Union since 1936. It publishes reviews and comparisons of consumer products and services based on reporting and results from its in-house testing laboratory. It also publishes cleaning and general buying guides...
also ranked TradeKing third out of 19 brokerages reviewed in an independent survey conducted in May 2007.
Product reviews and criticisms
Independent product reviewers often rank TradeKing positively for its customer service, trading platform, low pricing, and active community . Critics often cite high commissions for penny stock trades and lack of “paper trading” platforms .TradeKing charges an annual fee of $200 for simple LLC or corporate accounts. They also charge $50 for a simple 1099 for these accounts.
See also
- Stock brokerStock brokerA stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors...
- Options brokerOptions brokerOptions brokers specialize in offering options trading, research, education and other tools to individual investors. In addition to common options trades like covered calls, option spreads, and straddles, many options brokerages offer trading in products related to options, including stocks, ETFs,...
- Web 2.0Web 2.0The term Web 2.0 is associated with web applications that facilitate participatory information sharing, interoperability, user-centered design, and collaboration on the World Wide Web...
- List of social networking websites