Anybody otta here using TRADEKING (http://www.tradeking.com/) for trading in the US. Just wanted to get some opinions before I could done the deal with them. They say it’s $4.95 per trade and 65c per options contract.
I don’t know anything about them, but Interactive Brokers is a good platform, with $1 trades and .75 option contracts.
darkhelmet Wrote: ------------------------------------------------------- > I don’t know anything about them, but Interactive > Brokers is a good platform, with $1 trades and .75 > option contracts. Agreed, Interactive Brokers is the best for execution and Margin and is also pretty cheap…
Interactive gets my vote for worst customer service. However, it is pretty slick otherwise.
I went with Interactive Brokers, but TradeKing was in second place on my shortlist. If you do infrequent trading, then TK might be better than IB, which will charge you $10/mo if you don’t make at least $10 in trades. I don’t think TK does that. TK also has a money market sweep, which is good if you are holding cash these days. You can kind of replicate the sweep by storing unused cash in a treasury ETF like SHV or SHY, or possibly TIPS (with ETF TIP), but it’s a little clunky, and will cost you $2 round-trip to move cash in and out. If your account is small and you are doing that a lot, it can be an annoying cash drain.
Thanks so much all!! I will be trading very infrequently, let’s say ‘1 trade/month’. So I think to avoid the $10/mo fees, I should stick to TK, which charges per trade basis only. Good for passive investors like me. Thanks again, I am sold to TK!!