Tradeking

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TradeKing
Type Private
Founded {{{foundation}}}
Headquarters
Key people Donato A. Montanaro, Chairman & CEO
Richard J. Hagen, Jr. President & COO
Thomas A. Desmond, Chief Growth Officer
Industry Financial Services
Products Stock brokerage
Website www.tradeking.com

TradeKing is a privately held, FINRA-member discount brokerage firm with headquarters in Boca Raton, Florida, and subsidiary offices in Charlotte, NC.

Contents

[edit] History

Launched in December 2005, TradeKing offers online brokerage services geared to active stock, option and ETF traders. The firm pioneered the concept of social networking for investors and traders, offering free blog support and other Web 2.0-based tools to registered members and accountholders since the firm’s inception.[1]

In March 2007, the firm opened a second office in Charlotte, NC.

In July 2007, TradeKing released the Options Playbook [2][3][4], a primer for options trading explaining common options trading strategies (or “plays”) in jargon-free terms.

In May 2008, TradeKing became one of the first retail brokerages to introduce fixed return options trading (FROs) to self-directed investors. TradeKing’s CEO Donato A. Montanaro is a co-inventor of FROs, also known as fixed return options or binary options, a new investment product aiming to simplify options trading for individual investors.

[edit] Rankings

TradeKing was ranked the #1 discount broker in 2006 and 2007[5] by Smart Money, the Wall Street Journal’s business magazine. The survey ranked brokerages based on commissions, interest rates, mutual funds, investment products, banking amenities, trading tools, research, and customer service.

TradeKing also earned 4 stars in Barron's two years running (2007[6] and 2008[7]) in Barron's annual survey of online brokers.

Consumer Reports also ranked TradeKing third out of 19 brokerages reviewed in an independent survey conducted in May 2007.[8]

[edit] See also

[edit] External links

[edit] Notes

  1. ^ “MySpace for Traders”, Business Week, September 10, 2007."Cyber Traders Turn to Blogging", August 21, 2007, Reuters video.“Investors share tips, track records online, July 12, 2007, USA Today.
  2. ^ Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.[
  3. ^ “Better Know Your Option Options” by Matt Krantz, USA Today, November 16, 2007
  4. ^ “A Playbook for Traders”, by Jeffrey M. Laderman, Personal Business – Plus column of Business Week, November 5, 2007
  5. ^ Smart Money August 2007 brokerage survey ranking
  6. ^ Barron’s March 2007 brokerage survey rankings (subscription required)
  7. ^ Barron’s March 2008 brokerage survey rankings
  8. ^ Consumer Reports review of online brokers, as reported by MSNBC