A Review of TradeKing Online Brokerage
TradeKing was actually the first online broker that I signed up for myself. My very first online brokerage account was with Fidelity, this was an account that I was fortunate enough to have had my father set up when I was younger. I still use and enjoy that account with Fidelity.
The reason I chose TradeKing when I opened up an additional account was really for two primary reasons.
- TradeKing offered the best fees available
- They came with what seemed to be a very high level of customer satisfaction.
When I opened up and began using the TradeKing account, it was pretty easy and quick to notice the significant differences between TradeKing and Fidelity.
I already knew the TradeKing would be a notably less expensive brokerage to use than Fidelity, But I guess I was a bit surprised when the user interface and overall TradeKing platform reflected that lower-cost reality.
Take note, everything with the trading platform has worked excellent as far as I’m concerned and I have had no issues. My point is that when compared with Fidelity the platform is much less robust. It is easy to see the Fidelity comes from a more traditional investing approach where lots of funds are made available and Fidelity in many ways attempts to serve as a financial advisor for their customers. With TradeKing neither of these things are the case. It is very clear the TradeKing has one goal, to offer their customers a very low-cost and highly functional investing and trading platform. I can say that in my experience they have done just that.
What I like About TradeKing
For my investing approach, the TradeKing experience is really all that I need. I do not have a lot of interest in mutual funds and I do not have a lot of interest in the research and other resources that had been offered to me from Fidelity. I do not mean to criticize or undermine the value of the services from Fidelity, they have just not been services that I have used very much myself and the ones that I have used have not offered very much additional value.
I have used TradeKing for purchasing stocks, ETF’s, and options. I have no problems buying or selling any of these, the TradeKing interface has been very easy to use and very functional in every trade that I’ve made.
I will also add that whenever I’ve had any questions about the platform or even about some investments that was going to make, TradeKing customer service was always available by phone and very helpful to me.
For example, back when I was preparing to make my very first option trades, I had the typical anxieties that one would expect when entering into a somewhat complicated investment. I had heard about the risks of trading options and was concerned that I would make a big mistake that would cost me a lot of money. I called up the TradeKing customer service and they were very helpful in clarifying the risks and rewards of the trade that I was making. They also helped make sure that I understood the trade and that I entered it correctly. I am very appreciative to TradeKing for that service.
So, in the end TradeKing really offers everything that I could want in an online brokerage platform.
- The service is very easy to use.
- The customer service has been great.
- The costs are as cheap as I have found anywhere else.
- I can make all the investments and trades that I want to make.
- I can also set up automatic deposits if I so choose, this can be great for helping me stay disciplined with my savings and investment goals.
I can say that I’m a very happy and satisfied TradeKing customer and that it is a great platform for some wanting to learn to invest.
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