No. At TradeKing there are no account minimums and no inactivity fees.
Federal regulations require at least $2000 to open a margin-enabled account. You must also meet Reg T minimums if you trade actively on margin.
We do not offer a demo accounts. You may open an account to test all the features and tools that are available, with the exception of placing trades. No fees of any kind are charged for this access, nor is there a minimum balance to maintain for cash and retirement accounts. Margin accounts must have a balance of $2000 or more.
We do not offer paper trading at this time. A free paper trading tool is available at
www.888options.com . Click on OIC Select > Virtual Trading.
To change your address go to the "Services" main menu item and select "Settings". Use the Change Your Address link on the left to submit changes.
Yes. Through our clearing Firm, Legent Clearing, TradeKing offers its customers the ability to sweep uninvested cash into the Legent FDIC-Insured deposit program.
This cash sweep product is FDIC insured for up to $3 million per customer. This is not a traditional money market. Please refer to the terms and conditions and our
disclosure for full details and current yield. To request this cash sweep product for your account, send us an email to
service@tradeking.com including your full name and first 4 digits of your account number. The cash sweep product is automatic for IRAs.
Yes. TradeKing also offers a variety of money market sweep products through Deutsche Bank Advisors. For a list of current funds, yields, and to enroll
click here.
Yes. Accounts must be enrolled in the Legent FDIC insured deposit program or a money market sweep and maintain an account balance of $10,000 to apply for check writing. Check writing carries a $50 annual fee. Other restrictions, such as account standing and other account activity, may apply.
To apply please complete the "Check Writing Debit Card"
form and mail it to:
TradeKing
PO Box 49050
Charlotte, NC 28277-3432
The processing of check writing requests and mailing of check books takes about 4 weeks.
Yes. All securities with an average volume of 50,000 shares or more traded daily that are DTC eligible with a price of $5 or more may be enrolled in the DRIP. Dividends are reinvested on your behalf on the dividend payable date by our clearing firm. The reinvestment price will be the prevailing market price at the time the order is entered on the payable date. Fractional shares will be purchased in your account by dividends that do not cover the full price of one share.
We can set up your entire account so that any eligible security that you currently hold will be subject to dividend reinvestment. Any eligible securities that you purchase thereafter will be automatically coded for dividend reinvestment. However, stocks of smaller or recently-listed companies may not yet be part of the dividend reinvestment program. So, in other words, if we code your account for automatic DRIP and you later buy GE shares, those shares will be automatically enrolled in the dividend reinvestment program. But if you buy shares of a smaller or recently-listed company, you will need to send us an email to make sure that we code it as a DRIP stock. Also, if we enroll your entire account in the Dividend Reinvestment Program any stock that you purchased but whose trade has not yet settled, will not be automatically included in the DRIP. Make sure to let us know that you want that stock to be included in the DRIP as well.
You can always request that we include individual positions in your account in the free Dividend Reinvestment Program.
You can send your requests to us via email at
service@tradeking.com or by calling us at 1-877-495-5464.
Foreign citizens with a social security number and legally living in the USA may open a TradeKing account with the exception of citizens from the following countries: Australia, Austria, Belarus, Canada, Cote d'Ivoire (Ivory Coast), Cuba, France, Germany, Hong Kong, Italy, Iran, Iraq, Japan, Liberia, Libya, Malaysia, Myanmar (Burma), Netherlands, Nigeria, North Korea, Saudi Arabia, Singapore, Taiwan, Sudan, Syria, United Kingdom, Zimbabwe.
US citizens living abroad
All customers including US citizens must be living in the USA to maintain a TradeKing account. Exceptions may be made for active military personnel stationed abroad.
TradeKing does not charge an annual fee for maintaining an IRA account. There is a $50 fee, however, for IRA termination or outgoing transfers.
Confirms are online for 90 days, statements 2 years, tax documents 5 years. You can access them from the Accounts menu select Account Records.
Once an account is established we cannot add a joint account partner. What you can do is open a new joint account online. Then mail us a signed and notarized letter requesting we close the individual account and transfer any holdings to the new joint account.
To enable online shareholder communications go to the "Services" main menu item and select "Settings". You can then select the Shareholder Communication link on the left. You may also register at
www.proxyconsent.com/krsg. Each account requires a separate registration. You will be notified by email when these communications become available on the Internet. Printed copies of these communications may still be requested by contacting us via email at
service@tradeking.com or via phone at 877-495-5464. Documents that are not available on the Internet will continue to be sent to you by mail.
We actively test changes to the site with browsers in the following list, and prioritize issues that are encountered by their users:
- Firefox 3.x for Mac/PC
- Safari 4.x for Mac/PC
- IE 7.x for PC
The following browsers are generally compatible with our site and can be used on a regular basis. However, we do not regularly use them to test changes to the site:
- Camino
- Opera 8+
- Flock
- Netscape 8+
- WebKit
- Chrome
- Mozilla
- Firefox 1-2
- Safari 1-3
- Firefox 3 Linux
If your browser is not listed above, that means it is currently unsupported, with the exception of IE 6.
IE6 is a special case. We strive to maintain compatibility, but we will soon stop supporting it actively. Parts of the site, such as certain trading tools, will not support IE6. It is highly recommended that everyone who can upgrade either to IE8 or Firefox 3 should do so now.
Chances are, you have downloaded a beta product that is not in formal release. Check the version you are using against the supported browsers above. We will begin compatibility testing and strive to release fixes to our site before the final versions of the major browsers are released.
Certain regulators impose
transaction fees to cover their costs of regulating the brokerage
industry. The fees are passed through to customers as part of normal
transaction processing. These fees will appear as a line item when
entering orders called "Estimated Fee" and will also be listed on your
trade confirmations under "Miscellaneous fee". The following
fees apply:
Securities and Exchange Commission (SEC) fee.
This fee is levied on all security sales. The current rate is $25.70
charged for every $1,000,000 in sale proceeds. For a rough calculation
you may use $0.0000257 x Sale proceeds = SEC fee. Ex. Sale proceeds
of $10,000 will result in an SEC fee of $0.26. $10,000 * (.0000257) =
$0.257; round up to $0.26.
Financial Industry Regulatory Authority (FINRA) transaction fee (TAF).
This fee is charged on all stock and ETF sales at a rate of $.000075
per share with a minimum charge of $0.01 and a max charge of $3.75 per
sale transaction.
Chicago Board of Options Exchange (CBOE), Options regulatory fee (ORF).
This fee is charged on ALL option trades both buys and sells.
Effective 8/1/09, the rate is $0.004 per contract with a minimum charge
per transaction of $0.01. This rate will vary from year to year
depending on industry volume.
Please note: Our clearing firm is not currently passing the TAF or the
ORF fees mentioned above but will begin doing so shortly. The SEC fee
is the only fee that you see today when entering orders and on your
trade confirmations under Miscellaneous fee.
