Comments on: TradeKing Review – $4.95 Stock Trades, Cheap Options Brokerage

By: Zoltan

Zoltan — Mon, 23 Apr 2012 18:24:48 +0000

STAY AWAY FROM TRADEKING!

I’m a Tradeking customer for a few years now, but in this year I decided to move my account elsewhere. They have issued an incorrect 1099 form 3 times this year, out of which one was 2 days prior to the tax deadline and another 1 week after!!!
This caused me redoing my taxes 3 times this year and filing a correction due to their last correction being 1 after the deadline to file taxes.

By: Young K.

Young K. — Thu, 29 Mar 2012 17:04:32 +0000

Is it true that it will take 1-2 weeks for ACH deposit into TradeKing to clear before trading the funds?

What is this $50 inactive fee? I thought there is NO account Maintenance Fee ?

And if someone can confirm there will be no $50 account close fee.

thanks
Young

By: Diane

Diane — Fri, 02 Mar 2012 18:14:01 +0000

I just learned that Trade King charged me an “Inactivity Fee” of $50. Ok –

what does inactivity mean? It means I didn’t make any trades. Which means they

didn’t have to do anything. And yet they saw fit to charge me the totally

outrageous fee of $50. I am very unhappy with them and if I should happen

to get one of those little postcards in the mail asking me if I want to be part

of a settlement, I will be happy to fill it out and return it.

By: Jason

Jason — Wed, 29 Feb 2012 20:01:05 +0000

Hi my name is Jason I’am interested in learning the stock trade and willing to sign up is there anyone who can help me learn

By: Danielle H

Danielle H — Wed, 22 Feb 2012 03:08:50 +0000

I have used TradeKing for several years. I buy and sell individual stocks – maybe 3-4 trades per month and I sell calls on them occasionally. That is all I do. For the relatively infrequent trading I do, TradeKing is perfect. The key is to find a brokerage firm that meets your needs. I am glad that I only pay $4.95 per trade – I have never had any issues with TradeKing.

By: HerseyK

HerseyK — Sun, 15 Jan 2012 02:59:24 +0000

Summary: It took over 5 weeks to setup acct with TK even though I wired in funds.

Each error just delayed the time to find the next problem !! (if that makes sense)

I picked them from a list to auto-trade. Even when they admitted they made an error – their attitude was extremely snotty.
before reading this, I wondered if I had a nasty tone and caused such an attitude. Such as Scott Sanders a supervisor with attitude.

Yes – the delay cost me 3 or 4 of the auto-trade winning trades ! For my allocations about $4,000. Thanks guys.

By: Riddick

Riddick — Mon, 28 Nov 2011 23:22:51 +0000

TradeKing sucks… they don’t allow you to test drive their advanced tools unless you put up money. I set up an account with a small dollar amount to start and after 5 minutes in their tools I knew it was sub-par. Their advanced tools are low end, subed out from a third party and the advanced tools don’t allow you to trade, but link back to an html interface… so it looks low tech and is less functional, slow… I immediately set up a withdrawal of my cash. But wait, they have an anti money laundering policy, so they think they can hold your money for at least ten days before they will let you withdraw YOUR cash. Then they gave me a hard time when I tried to take out my cash… they told me I had to call in to make a withdrawal, so I did and I ripped the poor fool that got stuck with the phone call… pure arrogance on their part… stay away!!!!!! No tolerance for any company with an attitude.

By: Matt R

Matt R — Thu, 10 Nov 2011 21:48:44 +0000

TRADE AT YOUR OWN RISK. I tried Tradeking for the first time today. I have used Scottrade, OptionsHouse, Etrade, Ameritrade, Bank Of America, and OptionsXpress… I have NEVER encountered issues like this before.

I am a high-volume options trader, my average trade size is roughly $10k, average execution time on this site was between 20s-30s. I missed out on nearly all my trades today. Every single order had to be a market buy, or a market sell because every single trade had to be ‘reviewed’ (as per a supervisor) and added all of that overhead. I called up and complained… asking how they could justify putting my trades through a review every single time (all of these trades should have ended up at +15% profit today instead I netted a LOSS of 30%)

When asked how I as going to be compensated for all of these issues, they said, we will not compensate you, When I asked how they were going to address the ‘required review’ of each trade they said that will not change.

YOU GET WHAT YOU PAY FOR… DO NOT GO WITH TRADEKING IF YOU TRADE A LOT. They may be cheap, but the extra bucks you save are NOT worth it… You WILL lose WAY more money than you will save in fees.

By: carpet wands

carpet wands — Fri, 14 Oct 2011 21:51:59 +0000

Man, trading sure is exciting. I sure am glad I bought in two years ago, when the stock market was way down like it was.

By: Anon

Anon — Sat, 20 Aug 2011 04:17:43 +0000

TK has a great site but don’t be fooled by it. Their customer service can be proportioned to rude unfriendly incoherent people. They always have an attitude and I had to do so much to get verified just to create an account. You have to send in a copy of your passport or id and a copy of your social security card. I had to travel to my safe in my bank to retrieve those. Others brokers don’t do this and this usually takes very long to process. Next you will also have to send them a Notarized letter [which they will not reimburse] in addition to your social security and id photocopy. So much hassle to just get an account.
I do not recommend. I also read other recent reviews mentioning slow transaction fills [not confirmed by me] be cause I never used TK passed the creating an account. If creating the account was that much of a hassle then god knows what they’ll do after. So I decided to try my luck with OptionsHouse. The setup there was quick and customer service game me 100 free trades and a wire transfer free reimbursement. Happy with it so far. I’ll see how OptionsHouse does…