Comments on: TradeKing Review: $4.95 Trades, No Minimums

By: Robert

Robert — Sun, 08 Nov 2009 13:09:32 +0000

I’ve had a modest account for 3 months and cannot recommend this Co. for frequent Traders. It’s just tooooo slow! Log-on is ridiculous and price quotes platform is tedious. Better to use for retirement account, IMO.

By: Oscar

Oscar — Sat, 07 Nov 2009 01:43:56 +0000

I have only taken out $500.00 at a time, but I have never had a problem.

By: Vic

Vic — Tue, 13 Oct 2009 22:19:48 +0000

Thanks for an excellent, informative, fair minded review that helped me to decide to join this company, having a sense of what the company offers.

By: Trader

Trader — Mon, 28 Sep 2009 19:47:51 +0000

i guess what i mean to say is….how can you review “making trades” when there were no trades made??

By: Trader

Trader — Mon, 28 Sep 2009 19:46:19 +0000

been with them for about 4 years (since they were sogoinvest) if you’re a trader that has research and level2 elsewhere, they are the best!!! LOVE their clearing house!!

By: Trader

Trader — Mon, 28 Sep 2009 19:41:53 +0000

i use sogotrade for trade execution, and td for research. So far i have not been able to find another broker as quick in executions as sogotrade, i am disappointed in sogotrade because of the added fees they have recently been giving me because i trade penny stocks and also because about 1/2 of otc stocks are not tradable on sogotrade. i think i will deal with these issues with sogotrade if i don’t fing another broker who clears and executes as quickly as sogo, that is very valuable to me.

so, when i read your review, i was disappointed that you added a “trading” part of the review without even placing a trade or two. there is no review on how tradekings clearing house works with them or how the trades are executed. oh well, i guess i’ll stick with sogo & td for now…..

By: HP

HP — Tue, 15 Sep 2009 18:15:09 +0000

Guys, I am planning to use Tradeking for over $25K deposit and use daytrading priviledge. The reason is it’s a lot cheaper than Ameritrade and I can do frequent trading without getting killed on margin. Does anyone do day trading on Tradeking? What is your experience?

By: indexfundfan

indexfundfan — Mon, 31 Aug 2009 00:45:10 +0000

KP, Tradeking is aggressive in holding your money. Last year, I ACH’ed substantial money in, and when I tried to withdraw the funds, they stopped it and placed my account in “restricted mode”. They justify their actions using the catchall “security reasons”. I have documented my episode with Tradeking in my blog.

After I complained to Finra, they said they will impose a 60-day hold on my funds. Needless to say, after the 60-day is up, I pulled out everything I have with them.

By: KP

KP — Sun, 30 Aug 2009 03:01:14 +0000

Wish you would post the year of the comments. Possibly some of the earlier problems have been cleared up.

I am signed up with Tradeking but before I send any money I need to know how hard it is to get the money out and or close the account.

I have had problems with another well known broker when my wife died and it took 9 months and a letter to SEC to get my money back.

I don’t need another experience like this.

By: Beginner Investor

Beginner Investor — Sat, 29 Aug 2009 19:18:41 +0000

Can Canadian Citizens use trade king? Is there any additional steps for non-US citizens?

By: brad

brad — Wed, 26 Aug 2009 23:29:57 +0000

what about sogo can’t really find much on them but i have heard they are aren’t bad

By: Jim

Jim — Wed, 26 Aug 2009 01:04:58 +0000

With $1000-$2000, I think you have to go with a discount broker of some kind. I’ve never had an issue with TradeKing and they charge $4.95 a trade with no minimum balance requirement.

By: brad

brad — Wed, 26 Aug 2009 00:47:26 +0000

I haven’t opened an account anywhere yet needing some suggestions i was looking at tradeking but some of the posts have really made me question them so what are some suggestions for first time traders with only about 1000-2000 to invest…is tradeking worth opening an account or should i go somewhere else

By: Robert

Robert — Mon, 10 Aug 2009 16:52:20 +0000

I recently opened an Account with TK because Scottrade likes to hold withdrawal Checks for 3 days before mailing. TK may very well pull the same tactic, but they are $3 cheaper on trades.

By: Chris

Chris — Wed, 15 Jul 2009 21:02:26 +0000

I’ve been with Tradeking for about a year. Your review is pretty thorough and accurate. I have not had any problems with them except once a $1000 deposit was credited as $10000 (I emailed Tradeking to correct this so that they didn’t temporarily freeze my account or something when they caught it themselves).

The only negative is the 5-day wait on deposits. This seems like overkill, especially if it is a deposit that does little to your overall balance (for example, a deposit which increases your balance by less than 5%). The good news is that you can call Tradeking via phone and usually place an order before the 5-day wait is over. Sure, that means you need to actually talk to a trader rather than hit a few keystrokes, but I’ve never had more than a couple second wait and it’s still $4.95 a trade.

I haven’t had any other problems like the ones some posters have mentioned, and therefore I’d recommend Tradeking.