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TradeKing - best online brokerage firm for beginner investors in 2012
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- $4.95 per stock/etf trade
- Options: $4.95 plus $0.65 per contract (for up to 8 contracts) and $8.95 plus $0.15 per contract (for over 8 contracts)
- Short options valued at 5 cents or less, can be bought to close these positions for no charge (commission free)
- Multiple legs will only be charged one base price of either $4.95 or $8.95, depending on how many total contracts are involved
- Mutual Funds: $9.95
- Bonds: $4.95/bond ($14.95 minimum)
- Treasuries: $24.95 per transaction
- Certificates of Deposit (CDs): $24.95 per transaction
- Competitive option tools and pricing
- Great customer service
- Trader Network: best investor community out there
- Free IRAs (no setup and annual fees)
- Not for penny traders: $0.01 per share surcharge on penny stocks
- if you have a business, corporate or even a family LLC, TradeKing will charge you $250 to open that account and, $250/yr. as a maintenance fee
TradeKing is one of our very favorite brokerages: we ranked it #2 among
online brokerage firms.
The firm has some of the lowest commissions in the industry.
Unlike many other brokerage companies, it does not charge IRA setup and annual IRA maintenance fees.
TradeKing has no minimum balance requirements or hidden fees. Beginners could place broker-assisted trades for the same low price
of $4.95. TradeKing boasts award winning customer service - new investors could call anytime and ask questions. The firm provides
massive amounts of learning materials for every skill level: from newbie to a pro.
The first to introduce social networking into the world of online trading, TradeKing.com now boasts a vibrant and helpful online
community. There users can share experiences, ideas and strategies, see what others are trading and how they are performing.
They can even gather insights and analysis from the pros.
TradeKing got top scores in Customer Service and Trading Tools in the June 2009
Barrons Magazine Broker Survey; the highest five star rating in Customer Service in the 2008 Barrons Magazine
Brokerage Survey; overall #1 Discount Broker in the 2007 and in the 2006 according to Barrons. Full review: TradeKing Review.
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