SmartMoney, The Wall Street Journal Magazine, has named TradeKing the industry's "top discount broker" in its annual survey of online brokers, which appeared in the magazine's just released August 2006 issue. This award marks the third time in six months that TradeKing earned high marks in an Internet broker survey.
SmartMoney, an authority in personal finance, rated 21 online brokers on commission price, customer service, transaction fees, the availability of tax information, statement clarity, the interest rate paid on cash investments and ease of navigating each broker's web site. In ranking TradeKing as the industry's top discount broker ahead of many well established industry participants, the survey praised the firm for its inexpensive commissions, a trading platform that was "fast and easy to navigate," and responsive customer service with a chat function that "was a breeze" to use.
"The SmartMoney survey confirms what thousands of our customers already know - that TradeKing offers tremendous value and a refreshing approach to investors that is long overdue," said Donato A. Montanaro, Jr., TradeKing's co-founder and CEO. "We launched TradeKing because industry consolidation was leaving investors feeling neglected. We felt online investors were hungry for a better price, with timely customer service and friendlier technology, and we have delivered just that."
At TradeKing, investors get one of the lowest flat commission rates on the Internet ($4.95 for both equity and option trades, plus 65 cents a contract for options) - no matter the size of the trade, the account or the relationship. There are no hidden fees or account minimums. All tools and educational resources - including an RSS newsreader, aggregation of financial blogs from around the Web, personal blogs, and next-generation "Social Networking" tools such as individualized profiles to help investors easily connect with other investors who share similar goals or interests - are available to clients at no extra cost.
Montanaro continued, "Investors today are smarter and more experienced than ever, and they deserve a democratic pricing structure with free access to many of the same trading resources used by institutional investors. The SmartMoney honor reflects how we are working hard to meet that standard and earn the trust of our customers."
TradeKing's top rating in the 2006 SmartMoney Online Broker Survey is one of several distinctions earned by the Company this year. In June 2006, Kiplinger's magazine ranked TradeKing among the top three discount brokers in the "lowest commissions and fees," "trade execution," "lowest margin rate," and "responsiveness and broker knowledge" categories. Overall, Kiplinger's ranked TradeKing above E*Trade (ET), Schwab (SCHW), TD Ameritrade (AMTD) and Scottrade. In March 2006, Barron's recognized TradeKing as "best in cost" among discount brokers in its annual online broker survey.
Launched in December 2005 and based in Boca Raton, Florida, TradeKing (www.tradeking.com) is an independent, nationally licensed online broker dealer offering a flat fee of $4.95 for both equity and option trades, plus 65 cents per contract for options, with no hidden fees or account minimums. TradeKing was founded by the team that in the 1990s created SureTrade, a subsidiary of Quick & Reilly which later became part of Fleet Bank. Investors include OCA Ventures, the investment arm of the partners who led O'Connor and Associates - the Chicago-based pioneers of standardized Option trading; Bruce Rauner, a Principal at the Chicago private equity firm GTCR; and the Quick family, which founded Quick & Reilly.
TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment advice. Online trading system response and access times may vary due to market conditions, system performance, and other factors. Non-U.S. residents may be subject to country-specific restrictions. Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options available at www.tradeking.com. $4.95 commission rate applies to equity and option trades. See www.tradeking.com for more details on trade commissions for low priced stock, bonds, mutual funds and other securities. Add 1 cent per share for the entire order for stocks priced $2.00 or less.