If you are looking for an online brokerage firm then you should consider doing some research on TradeKing.
With offices in Fort Lauderdale and Charlotte, North Carolina, TradeKing was founded in 2005 and was ranked as number 1 discount broker in both 2006 and 2007. It was also one of the first companies to take advantage of social networking for its investors.
They now offer online support via their blog. The question that you might be asking is the amount of money you will need for the TradeKing minimum deposit.
You will find the answer to that question here, along with other salient points about your TradeKing account minimum, as well as tools available for you and advice on how to open your account.
TradeKing has a policy to deliver world-class customer support, low cost pricing and plenty of free tools and services for your trading.
How Does It Work?
According to the company there are no TradeKing minimums. A point for the beginner investor to be aware of, is that TradeKing does not offer a 'demo account'.
You are able to open an account and test all the offered features and you will also have the possibility to use all the tools related to the account. You will not be charged any fees for this access. There is also no minimum balance to maintain for any cash or retirement account you open.
In 2007 TradeKing released their Options Playbook which very clearly explains common option trading and includes their statement, that there is no TradeKing minimum when opening an account.
TradeKing does not offer a paper trading account but their site clearly states that there is no cost involved when opening a real account. Additionally the use of all TradeKing tools is free.
Once you have opened your account you can expect to receive confirmation via email with instructions on how to access it. You will be assigned a user name after your paperwork has been approved.
The brokerage firm offers a wide selection of online trading tools for its investors to assist with buying and selling their stocks. This can be done by either using their electronic trading platform or by a simple telephone call.
Funding Your account
Having opened your account you might ask how you go about funding it.
The company has made this very straightforward by offering you four options to fund you account. These are by debit card, wire transfer, echeck and regular check.
You need be aware that you should allow up to ten business days for your check to clear. Funding by debit card is the easiest and quickest way to fund your account and the money will be added to your account immediately
Support And Contact
Should you wish to send any paperwork to them you may do so using the address which you will find on the website.
The fastest way to communicate is however by email. You may also fax any documents to them.
The website offers a wide selection of tools such as volatility charts and pricing calculators, to mention but a few. All these tools are free for you to use. You are also able to set up alerts for stock using the 'set alert' link, which you will find directly below your chosen stock.
One point to be aware of is that the symbols on the website which relate to stock options are not a recommendation to buy–they are merely there for education purposes and to illustrate a procedure, should you wish to follow it.
As a customer you will have access to many reports which are listed on the website. You will find that all of them can be printed and exported to keep for your records.
TradeKing states that its customer support is superior in that they are committed to helping their investors to succeed. Representatives are available every day from Sunday at 10am to Friday at 5pm.
Conclusion
Because online trading has inherent risks due to system response we would encourage you to do a thorough research yourself before investing in any online trading program.
It is important to realize that your loss may occasionally exceed your initial investment. This is something that you should bear in mind in your research. Past performance in any sector does not guarantee the success of that sector.
Even though there is no TradeKing minimum, eventually you will need to deposit money into your account. It is your responsibility therefore to do your homework before you part with any money.
Do your research and ask yourself honestly whether you are prepared to take any risks involved.
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