"Get a whole lot. Pay a whole little."

TradeKing was founded in 2005 by the former management of Suretrade, Inc. Their goal was to eliminate the obstacles that had long hampered self-directed investors. They wanted to create a straight forward pricing structure that didn't penalize smaller investors. They also wanted to provide the average retail trader with a level of attention and support that used to be reserved for large, active clients.

Commissions

One of the things we find most appealing about TradeKing is their commission "structure". They charge $4.95 per trade plus 65 cents per option contract. Period. They don't have any account minimums or hidden fees. They even charge the same price for broker-assisted trades. In addition to being very reasonable on the pricing, we really like the fact that there are no tiers based upon trade volume, account size, or even trade size. What you see is what you get with TradeKing. The fact that they don't charge extra for broker assisted trades is a refreshing, and rare benefit among online brokers.

Trading Platform

TradeKing's trading platform is web based and easy to use. Quite frankly, it doesn't stand out above the crowd. There aren't a lot of bells and whistles. It is adequate, functional, and easy to navigate...but it's nothing special.

Customer Service

Customer service is the area that TradeKing really stands out above the competition. You can call their toll free number and speak with a licensed broker without being charged extra for it. They also have a live chat interface so you can always chat with a customer service rep. Their prompt and courteous service is why SmartMoney ranked them #1 for customer service in both 2008 and 2010.

Extras

In 2005, TradeKing created the first online trading network where traders can connect with one another and share their trading experiences, ideas and strategies. This allows you to see what others are trading and how they are performing. According to TradeKing, they have over 200,000 traders in their network.

Overall Opinion

Overall, we feel the TradeKing is one of the top choices for retail traders who are looking for good service, and reasonable rates, even if your account is smaller, or has less trading activity. TradeKing doesn't have a minimum amount to open an account and start trading. TradeKing's motto is "Be Good". We think they are good...especially if you fit into the category of "average retail investor". TradeKing is definitely worth considering.