Comments on: TradeKing Review – Online Broker Ratings

By: Discount Option Brokers – Reviews and Ratings | Money Tip Central

Discount Option Brokers – Reviews and Ratings | Money Tip Central — Wed, 28 Jul 2010 15:34:14 +0000

[...] match a competitors commissions just by asking for them. These investors have confirmed receiving TradeKing commission on their thinkorswim account. It’s worth a [...]

By: David

David — Mon, 26 Jul 2010 20:42:02 +0000

I just signed up for Tradeking after finding out about there $4.95 flat fee. Biggest mistake of my life. They have the price to attract the customer, but customer service was terrible. I had wired funds and was successful at my bank end, but to find out about their unusual document limitations they had rejected the transfer because I had a joint account. They stated that I cannot use 3rd party to deposit funds. Clearly, I was the account holder showing my name and my partner’s name on the bank statement they had requested from me, but they insisted that I was the 3rd party. They had redefined the definition of 3rd party according to “their 3rd party policy”. They had wired back the money and deducted the fee from their side. Although it was a small amount of $25 that they had robbed from me, I had spent almost 6 hours going back and forth sending documents and conversation to find out I was robbed at the end. It was just a waste of time. I am definitely not going to recommend them for that matter!

By: Benny

Benny — Tue, 10 Nov 2009 21:14:44 +0000

Tradeking’s flat fee of $4.95 is great, but… For penny stocks you pay additional $0.01 per share. Scottrade fro example chareges $7 per share + 0.5% for the purchase value.

An example:
2000 shares of $0.80/share – total cost $1,600.00
Tradeking fee: $24.95 ($4.95 + 2000 * $0.01/share)
Scottrade fee: $15.00 ($7.00 + 1600 * 0.5%)

So, price still depends on what you buy.