It just took me a few minutes to open a TradeKing trading account. I cheated somewhat by not reading the "terms and conditions' section as closely as I should have, make sure you the extra time and read the fine print. Even then you should up and running in under 15 minutes.
Here's what TradeKing wants from you, info-wise:
– Name
– Address
– Email Address
– Social Security
– Employer
– Trading background
– Financial info (i.e., your annual income, net worth, liquid worth)
The security feature is a welcome one, if a tad different (access goes through a keyboard-based password system). But it only takes several seconds and I appreciate the fact that so much emphasis is put on privacy and security. That should keep a lot of skeptical spouses satisfied.
TradeKing offers . . . .
– Low, flat fees with no minimums and no hidden fees
– $4.95 per trade plus $.65 per options contract
Individual online brokerage accounts for:
• Options trading
• Equities and ETF trading
• Mutual funds trading
• Fixed-income trading
A user-friendly website with:
• customized settings for tracking balances, orders, holdings, alert
• sorting of transactions by symbol, duration, security, date, status and
price
• transparency into overall account records
• advanced tools, research, analysis and educational information
• innovative community networking capabilities to help connect like-
minded traders
Key tools include . . .
• Options calculator with advanced volatility calculations
• Profit and Loss calculator to study potential gains/losses or track
positions
• Probability calculator for historical or implied volatility to calculate the
probability of success for a specific option strategy
• Options Scanner to screen over 150,000 option contracts to find
optimal trades
• Strategy Scanner to screen the options universe for specific strategies
that meet certain criteria
• Stock Screener to find the stocks to suit a certain strategy
• Mutual Fund Screener to find the right mutual funds for specific
objectives
• Streaming Quotes for access to streaming and real time investment data
TradeKing Research
Research offered . . .
• Market snapshots of exchange activity, quotes, news headlines and
industry commentary; in-depth research on company profiles and
performance, investment ratings, growth rates and other key
measures
• Fundamental & Technical Analysis tools include an options chain
with strategic guidance on specific strategies; volatility charts for an
underlying stock or index; comprehensive Earnings Center and a
robust set of technical analysis tools powered by RecogniaTM that
feature chart pattern recognition and price forecasting
Community features include . . .
• Daily blog following industry happenings, trends and newsworthy tips
• Message boards available to post comments or questions
• Random sample of other trades executed on TradeKing
• Ability to find other members who adhere to similar research or
trading styles and follow similar investment strategies
• RSS news and podcasting available
Education sources include . . .
TradeKing's Education Learning Center includes newsletters, webinars, three blogs, including a dedicated Options Guy blog, definitions of common trading strategies, glossary of trading terms, as well as recommended books, software and other informational websites
TradeKing Review
TradeKing is Wall Street's version of the Great Society, where investors of all stripes are welcome and encouraged to trade according to their needs, talent and experience.
For beginners, it offers plenty of tutorials and an easy-to-navigate trading and account management interface.
For experts, there are plenty of sophisticated tools and toys to enhance your trading experience – all for one of the lowest trading fee structures in the industry. Plus, the social networking aspect plugs you nicely into a spirited community of active traders who likely share your enthusiasm for trading online.
Click here to sign up for a TradeKing account.
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