Personal Finance Tips

Internet Shopping Tips
Shopping online can save you a bundle. Information and products are at your fingertips. Internet retailers need to be extremely price conscious to stay competitive. When companies compete the consumer wins. These tips will help you get the best deal and have a safe experience.

Look for security

There is a quick way to find out if a site is secure. Look for HTTPS:// instead of HTTP:// in areas of the website where you are entering sensitive financial information. It is common for most websites to switch to their secure pages only when nessicary. You usually won’t see https:// until you’re in the checkout area. If you are entering your credit card information always check before proceeding. If there is no https your information can be easily stolen. When a page is secure it encrypts the data going to and from that page. So even if your data was intercepted it could not be read.

Look for https in the address bar and a lock to verify website security
Look for https and the little lock

If you are entering your credit card information make sure the page is secure. If the page is not secure your information can be easily stolen. Secure pages encrypt data going to and from pages.

Compare Prices

Comparing prices on websites isn’t as easy at might first appear (especially if your searching for a non-standardized item). The first step is to narrow your search to exactly what you want. Find a part # or a model # and search for it in a comparison shopping engine. I prefer Google Products but there are others as well. They have an incentive to place higher paying vendors near the top of the list and their products seem to be less organized.

Avoid the lowest priced vendor (unless you’ve bought from them before). Most of the time they will require that you buy the warranty, a bunch of accessories, and join some mailing list to get the “lowest price”.

Have the deals come to you

Using RSS feeds and some basic filters you can have deals come to you when they are ripe for the picking. Automatic deal finders using RSS is an easy way to get low cost gifts and surprizes for yourself. You will need to be patient but the wait is usually well worth it. Hot items like the Nintendo Wii won’t likely drop in price but just about everything else goes on sale periodically.

If you don’t mind buying used you can also set up a way to search through Craiglists for misplaced bargins. Many times people will post items you want in strange categories or forget to write a good desciptoin. Other bargin shoppers will miss those deals and you’ll have the item delivered to your feed reader.

Look through deal websites

Finding a deal website with up to date offers is a good way to browse for things like laptops, HDTVs, cameras, or other everyday electronic items. All of my laptops and computers come from sites like this because they usually offer more power and features for much less.

Keep all your records

Keep records of your reciept page, the items ordered, and what credit card you used. If you want to return an item or dispute a charge you’ll need all the information you can. Most merchants make it easy to return or cancel an order. For infrequent purchases it’s best to have a folder in your email labeled ‘shopping receipts’ to stay organized. If you buy from individual stores, through Amazon or Half.com, keeping these reciepts will be cruitial.

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TradeKing Online Stock Trading Review

Overall TradeKing Rating

Five star rating

Summary

TradeKing offers the most competitive package compared to all the other online discount brokers. TradeKing’s interface is straight forward and easy to use. I’ve been using them for a few years now and their service is amoung the best I’ve tried visa vis Zecco, Scottrade, Sharebuilder. If you are looking to make a lot of trades their $4.95 fee per trade is unbeatable. They are also friendly to the beginner trader with $4.95 broker assisted trades, no inactivity fees, and top notch research tools.

I would recommend TradeKing to anyone getting into the market for the first time, seasoned traders, IRA account holders, option and day trader If you look around I’m sure you’ll agree that TradeKing has earned all five stars.

Pricing & Fees


It should be noted here that TradeKing offers it’s lowest rates to everyone. There is no need to sign up for a special program or make a certain number of trades a year. If you make 1,000 trades or 10 you will get the same low price.

Stock Trading (Market) $4.95
Stock Trading (Limit) $4.95
Broker Assisted Trade $4.95 (Lowest anywhere)
Option Contract $0.65 (Only Zecco beats them at $0.50)
Margin Rates ($0-$49,999) 6.50% ($50K-$249K) 5.50%

Mutual Funds No Load Purchase/Sale $14.95

Bonds $4.95 per bond
Treasuries $24.95 per transaction

Certificates of Deposit (CDs) $24.95 per transaction

Inactivity fee: None
IRA annual fee: None

No Minimum Balance

Stand Out Features

Check Writing – Write checks directly from your account. This is a newer feature that most top end brokers offered to their clients.

Education – Tradeking is one of the best online brokers for education. Free seminars, tutorials, and tons of other material make this a broker you can learn a lot from.

Options – In the last few years TradeKing has really made options trading a bigger part of their business. They have the second bet pricing structure online. (OptionsHouse is the low cost leader).

Customer service – Tradeking has some of the best customer service anywhere online.

Great for beginners – Their software and approach is user friendly and new users won’t be overwhelmed by the complexity other companies may reveal. Don’t let this fool you, Tradeking is can still provide advanced trading features.

Graphs – They offer ‘risk’ graphs with each of their option trades so you understand a little better what to expect before you pull the trigger.

Tools & Resources

If in depth reports and research is your thing TradeKing has you covered. Their tools include: Options Pricing Calculator, Probability Calculator, Profit + Loss Calculator, Options and Strategy Scanners, Stock, ETF + Mutual Fund Screeners, Fixed Income, Maxit Tax Manager, AutoTrade, and Extra Hours Trading.

Education includes: Technical Analysis Education,Educational Videos and Webinars, Intelligence Reports, Live Events, & Webinar Instructions.

Research resources include: Market + Company Overview, Watchlists, Up to the second Quotes, Free MarketGrader research, Interactive Charts, Option Chains, Technical Analysis.

TradeKing also has a robust community of active traders that can help or give you ideas on trading.

Customer Service

TradeKings website is easy enough to use and navigate that finding answers is easy as pie. In case you need help you can access their award winning customer service through phone, chat, and email. When I had a question on my account they answered my email within five minutes. The wait time on the phone is less than a minute on most days.

Best of all you can talk to an actual broker and if you need to execute a trade it’s still only $4.95

How do they compare?

If you are an old person that likes names like Vanguard or Charles Schwab then I can understand that. But paying 3 to 4 times more for the exact same service? There is no reason for that. In these troubled times our stock portfolio is already taking a hit. Paying all the fees and extra padding other brokers stack on doesn’t make much sense.

If you are going for the bear bones best price, Zecco is for you. If you want something in the middle between discount and full service broker TradeKing and Scottrade are great. If you are wanting more specialized option trading I would suggest optionsXpress.

TradeKing Online Stock Trading Review
Visit TradeKing

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