TradeKing Brokerage Account Features and Benefits

TradeKing's brokerage account offers a robust platform for traders and investors. With a minimum account balance of $1,000, you can start trading with a competitive fee structure.

You can choose from a variety of account types, including individual, joint, and custodial accounts. This flexibility makes it easy to manage your finances and investments.

The platform offers a range of trading tools, including real-time quotes, charts, and news feeds. These features help you stay informed and make informed decisions.

With no monthly maintenance fees and no minimum balance requirements for IRA accounts, you can focus on growing your portfolio.

To get started with TradeKing, you'll need to have some essential information on hand. This includes your Social Security number or Individual Taxpayer Identification Number.

You'll also need the contact information of your current employer, if applicable. This will help TradeKing verify your employment status.

To fund your brokerage account, you'll need to provide your bank account information. Don't worry if you don't have this information ready – you can always set it up later.

TradeKing offers online trading with no minimum account requirements and charges just $4.95 per stock trade. This makes it a great option for beginners or those on a budget.

If you have any questions while setting up your account, TradeKing provides an online chat link, email address, and phone number for their customer service line. They also have a frequently asked questions section that can help answer common queries.

To give you an idea of how quickly you can get started, TradeKing claims you can set up your account in just minutes. They also provide clear instructions throughout the application to guide you through the process.

TradeKing's account management system is designed to be user-friendly and secure. You can easily access your account information, including your account balance, trade history, and account settings.

TradeKing offers a variety of account types to suit different investment needs, including individual, joint, and IRA accounts. You can also open a custodial account for minors.

To open an account, you'll need to provide some basic personal and financial information, and you may need to fund your account with an initial deposit. TradeKing accepts a variety of payment methods, including bank transfers, wire transfers, and checks.

In this section, you'll choose the type of account you want to open, such as an individual brokerage account.

For this purpose, you'll need to select the account type that best suits your needs, as demonstrated in the individual brokerage account example.

You'll have the option to select from various account types, each with its own set of features and requirements.

To proceed, simply choose the account type that aligns with your financial goals and objectives.

Remember to carefully review the details and specifications of each account type before making your final decision.

To open and fund your TradeKing account, you'll need to select an account type, submit the application, and fund the account. You can choose to fund the account right away or do it later.

You'll be asked to fund the account by linking your bank account, which requires your bank account information, routing number, and bank name. You can also fund the account with a check, wire transfer, or another brokerage account.

If you choose to fund the account right away, you'll need to enter your bank's login credentials, but TradeKing doesn't store them. You can always fund the account later if you're uncomfortable providing this information.

Once you've funded the account, you'll need to send a copy of your license to TradeKing, along with a voided check or bank statement. You can do this by uploading the files from TradeKing's website or by using the fax, mail, or email details provided.

You'll be automatically logged into your user dashboard after submitting the application, where you can start exploring your TradeKing account.

TradeKing's features and tools are designed to make trading and investing easy and accessible. Their stock screener is a powerful tool that allows you to filter stocks based on various criteria and save your searches for future use.

The platform also offers free technical analysis with every account, which provides a quick summary of the technicals of a stock and signals a bullish or bearish tone. This is especially useful for short-term trading.

TradeKing's trading platform is user-friendly and mobile-compatible, allowing you to place trades quickly and easily from your smartphone or other mobile device. The platform supports all options order types and has a watch list and alert system.

Here are some of the key tools and features available to TradeKing customers:

Additionally, TradeKing offers a range of research and analysis tools, including MarketGrader research reports and an earnings calendar that provides information on upcoming earnings reports. The platform also has a suite of technical analysis tools powered by Recognia, which includes chart pattern recognition and trend identifiers.

TradeKing offers a comprehensive research toolset that's perfect for traders of all levels. The stock screener is a standout feature, allowing you to filter stocks by various criteria and save your settings for future use.

Free technical analysis is available with every account, providing a quick summary of the technicals and whether the analysis signals a bullish or bearish tone. This is especially helpful for short-term traders who need to make quick decisions.

TradeKing also hosts live webinars, making it easy to stay up-to-date on market trends and strategies. In fact, the author notes that TradeKing hosts many more webinars than other brokers, making it a valuable resource for traders.

MarketGrader research reports are available for free to all customers, providing a wealth of information for fundamental analysis. These reports help identify potential opportunities based on company performance.

The earnings calendar is another useful tool, allowing you to track company earnings reports and stay ahead of the market. It also provides information on percentage changes in earnings per share and actual earnings compared to expected earnings.

Recognia's technical analysis tools are also available, featuring chart pattern recognition, price forecasting, and trend identifiers. You can scan the market to find specific patterns that meet your chosen criteria and even set up email alerts to notify you when such patterns are formed.

TradeKing's extensive trader community is a valuable resource for investors, offering a wealth of knowledge and experience. The Options Playbook is also available, providing a comprehensive guide to options trading.

Maxit Tax Manager is a powerful tool that can simplify the tax preparation process for investors. It's a service built into the TradeKing platform, powered by Scivantage Maxit.

The system tracks the cost basis of all securities and transactions in real-time. This is a huge time-saver, as it eliminates the need to manually track and calculate cost basis.

TradeKing's Maxit Tax Manager also adjusts for mergers, splits, and spin-offs automatically. This means you don't have to worry about keeping track of these complex transactions.

Automated handling of wash sales is another benefit of Maxit Tax Manager. This can be a major headache for investors, but the system takes care of it for you.

With Maxit Tax Manager, you can view unrealized and realized gains and losses information at the touch of a button. This gives you a clear picture of your investment performance.

The system even generates a schedule D automatically, making tax preparation a breeze. This saves you time and money, as you no longer need to pay for a separate service to import and export data.

TradeKing offers a range of research and educational tools that can help you improve your trading skills. Investors have access to a stock screener, real-time research, and a variety of educational resources.

The Options Playbook is a valuable resource that breaks down options trading into understandable pieces. This is a great starting point for those new to options trading.

TradeKing's trader community is a unique benefit that sets it apart from other discount brokers. On this network, many traders post their trades and the reason they made them, providing a wealth of information to learn from.

The community is a great place to bounce ideas off other experienced traders and get insights from novices and pros alike.

TradeKing's fees are straightforward and competitive. You'll pay $4.95 for each stock trade, plus one cent per share for stocks priced under $1.

TradeKing's options fees are also attractive, costing $4.95 plus 65 cents per contract, up to eight contracts. Beyond that, the cost per contract drops to 15 cents.

Here are TradeKing's fees at a glance:

There's no minimum deposit required to open a TradeKing account, but be aware that inactivity fees may apply if you don't make a trade within 12 months and have less than $2,500 in your account.

A discount stock broker should have solid technologies to ensure a smooth trading experience. Their website should be reliable and responsive, allowing you to exit positions quickly, even during market crashes.

A user-friendly interface is also essential, with clear functions and prompts that make sense from one page to the next. This will save you time and frustration.

Inexpensive trades are a must, especially if you trade frequently. Look for brokers that offer low costs for stocks, options, and ETFs.

Fast execution and routing are critical for getting the best prices. A good broker should strive to obtain shares at the price you want.

Research tools are nice to have, but they're not a deal-breaker. You can always find research elsewhere online.

Here are some key areas to consider when evaluating a discount stock broker:

TradeKing's commission structure is both attractive and easy to understand. You'll pay $4.95 for each trade you make, plus $0.65 for each options contract in that trade. This makes TradeKing one of the cheapest brokers around for options trading.

The stock and ETF fee is a flat $4.95 per transaction, as long as the price per share is above $1. For stocks priced at less than a dollar, you pay the $4.95 transaction fee, plus one cent per share.

Options cost $4.95, plus 65 cents per contract, up to eight. Once you move beyond eight contracts, you pay $8.95 per transaction, but the per-contract fee drops to 15 cents.

Mutual funds cost $9.95 to trade, and corporate bonds can be traded for $4.95 ($14.95 minimum). Treasury bonds cost $24.95 per transaction, and CD transactions also cost $24.95.

You don't need a minimum deposit to open a TradeKing account, but you do need to provide a way to fund your account if you expect to trade. Activity fees are a possibility, however, if you don't execute at least one commission-charge trade each 12 months and have less than $2,500 in combined account value.

Here's a breakdown of TradeKing's fees:

If you don't make a trade within 12 months and have less than $2,500 in combined account value, you'll be charged an annual fee of $50.