Opening a TradeKing IRA
Opening a IRA with TradeKing is easy and only takes a few minutes online. If you are a new TradeKing customer, begin by following the “Open an Account” link on their homepage. It will prompt you to fill out information such as your Social Security number, driver’s license, and address.
If you are already a TradeKing customer, log into the TradeKing website with your username and password before opening your new IRA account, so you can access it with the username you already have.
One of the biggest benefits of rolling over IRA to TradeKing is their commission of $4.95 for stock and ETF trades. Most other online brokers’ rates range from $8.00 to $10.00 per trade. Additionally, TradeKing has no annual account fee and no minimum initial funding requirement.
|Stocks and ETFs|| $4.95|
|Options|| $4.95 + $0.65 per contract|
|Mutual funds|| $9.95|
|Bonds|| $1 per bond with $10 minimum, $250 maximum|
|Certificates of Deposit (CDs)|| $24.95|
|Investments|| stocks, options, mutual funds, bonds, CDs, forex, treasuries, ETFs|
|TradeKing minimum deposit to open account|| $0 for cash account, $2,000 for margin account|
|IRA Transfer Out Fee:
|IRA Closure Fee:
Note that while TradeKing does not charge an annual fee to maintain IRAs, accounts with no activity may be subject to an annual Inactivity Charge of $50.00. An Inactivity Charge will apply if no trades have been executed in your household accounts within the last 12 months, and the combined value of your household accounts is less than $2,500.
In addition to their low fees, TradeKing also frequently offers promotions to attract new users, such as their Refer a Friend program and reimbursement of transfer fees. Current promotions can be found here (https://www.tradeking.com/promotions#all).
These rates are current as of publication and are subject to change at any time. Please visit TradeKing’s complete fee schedule (https://www.tradeking.com/rates/fees) for the most current information.
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Discount Online Brokerage Comparison
Minimum Initial Deposit||
Wealth of Information
Not sure how you want to invest your IRA, or looking to expand your knowledgebase? TradeKing offers a thorough Education Center to their users, broken down by security type, experience level, and market outlook. They also offer live events and webinars every Monday and Tuesday midday from 12:00 to 12:15 ET.
TradeKing also has a Trader Network with features such as executive and user blogs, trade notes, an interactive forum, and trading and investing groups.
Excellent Customer Service
Rated as #1 in customer service by SmartMoney from 2010 through 2012, TradeKing offers multiple channels to contact their customer service. TradeKing customer service can be reached by phone or online chat from 8 am to 6 pm ET Monday through Friday, or anytime via email. Queries by email are typically responded to within 2 hours during normal business hours, and within 24 hours on weekends.
TradeKing offers apps for both Apple and Android devices for investors on the go. You can trade stocks and options, get real-time updates of your balances and portfolios, view your watchlist, and more.
Users with non-Apple and Android devices can access the TradeKing mobile website at m.tradeking.com to execute basic orders, check your account status, view quotes, and track watchlists and positions.
Best IRA Rollover Firm Review Conclusion
TradeKing is an excellent brokerage for rolling over your IRA account. They require no initial opening deposit, discounted stock and ETF trades at $4.95, excellent customer service, and a wide knowledgebase to learn from.
This article was updated on 2/3/2015.