Review of: Trade King

Reviewed by:
Rating:
4
On September 9, 2016
Last modified:November 10, 2016

Summary:

Trade King is likely the best deal for the money. They are one of the cheapest online discount brokers, and still offer a platform that rivals those brokers that cost double.

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Get $100 in free trades when you open and fund a Trade King account.

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Trade King Overview

Trade King was founded in 2005 and is one of the oldest discount brokers still around today. Their goal was to build an all-inclusive platform where investors could go learn how to trade stocks, gain access to trading and research tools, collaborate with other traders, and make their stock purchases at deep discounts. While a lot has changed since 2005, their platform still has a focus on these parts of the customer experience.

Trade King Review Quick Facts

Stock Commission $4.95 per trade
Options Commission $4.95 + $0.65 per contract
Account Minimum No minimum, but accounts under $2,500 are subject to fees if no trading occurs in 12-month period
Signup Bonus Yes. They offer $100 in free trades for starter accounts and up to $1,0000 in free trades with minimum deposit of $5,000
Fees No fees on trading account unless account is underfunded and untouched for 12 months
Top Features Social platform, mobile app, education center, Trade King live, trading tools, price
Mobile App Yes. 4/5 stars on Google Play store and 2/5 stars on iTunes store
Customer Support Available 24/7 via phone, chat, or email

Getting started

We started the review by looking at all of the options that come with a Trade King account. There are quite a few. They offer charting tools, an education center packed with information, a social platform with more than 200,000 traders that are extremely active, and the full spectrum of securities including stocks, bonds, ETFs, forex, mutual funds, and options. We will dive into each one to get a good idea of how they work and how well thought out they were.

Trade King Tools

Trade King offers a variety of tools to help analyze buying decisions for stocks. These screeners include chart builders, screeners, calculators, and watch lists. The stock screener, shown below, is well built and has a variety of options for screening through different stocks and finding good buys. These include dividend searches, fundamental ratio searches, past performance searches, and profile selectors. While there are some brokers with more options on their screeners, Trade King’s is simple and covers all the common ones you would be likely to use.

Trade King Platform

Alerts

Trade King’s alerts were similarly simple but worked well. I have had dozens of alerts with other brokers and platforms that came late or just never came. I tested alerts for a few days and had a great experience. They allow you to request alerts via email or cell phone (I always choose cell phone). As far as options they are pretty similar to other brokers.

Charting

Playing with the technical analysis charts and screeners was my favorite part of the review. Their charting is powered by a reputable company called Recognia and offers more options than most comparable brokers. My favorite part of the charting platform is the featured ideas section which gives a large number of stocks that are currently showing bullish technical indicators. This section shows up right when you login and requires very little work and understanding of charging patterns. Trade King has the charts made and the lines all drawn, making it easy to spot patterns for beginners. The featured section also allows you to sort it and see patterns that large numbers of traders are viewing or following, making it great for catching momo plays. It also lets you search through the market screening for a large variety of indicators. The last thing I really enjoyed was that you can enter a specific stock in and get alerts when those stocks show bearish or bullish patterns.

Trade King review of patterns

Education center

I had to spend a significant amount of time playing around with the Trade King education section for this review to get a good idea of what kinds of things could be learned. After clicking around and searching things I came to the conclusion that all of the necessary information to learn to trade stocks, bonds, funds, and other equities was there. The problem is in Trade King’s organization of the training materials. It is confusing as a beginner to try to figure out where to start, and Trade King does not lead a learner on any  kind of journey.

If you are planning on learning to trade stocks as a beginner and expect the Trade King education center to get you to the point where you can succeed on the stock market, you are likely going to be disappointed. We would recommend spending the few extra bucks and taking a legitimate stock market course that leads a beginner on a journey from knowing almost nothing, to being fluent in trading equities. Check out our stock market courses page if you want to go this route. Remember – spending $20 today can save thousands in the future.

Trade King trader network

The trader network is a very unique part of using Trade King as a broker. It allows you to view the most traded stocks in a day, participate in an extremely active forum, join groups based around your trading strategy, and even follow specific traders. For this review we looked at the profiles of the some of the top traders on the Trade King network. You have access to view their trade history and even their current portfolio. We loved this option for beginners! If you are not feeling confident in your picks, you can spend a little time researching and find someone who has a past of making profitable trades, then tag into what they are doing. While this shouldn’t be your only strategy, and you should always think about the trade from your standpoint first, this is a great way to find new stocks and confirm decisions.

The forum is also well built, allowing the user to sort according to their personal strategy and what type of security they deal in. While the forum is very robust and has discussions and answers to every question I could think of, the search bar was a little rusty and struggled to find the posts that answered the questions I would ask. Eventually I would find entire forums built around what I was looking for, however. For this Trade King review we give the network 5 stars because it is probably one of the best equity-based forums out there.

Review of Trade King

Customer service

While I didn’t have any issues that personally required help from customer service agents, I did look into their reputation. They were voted by Smart Money as the #1 broker for customer service in 4 out of the last 6 years. They have also been given at least a 4-star rating in every survey based review to my knowledge. Their customer support is available 24/7 and they have chat, phone, and email features. I tested their chat feature a few times at different times of the day and never had to wait more than a few minutes for assistance.

Trade King Mobile App Review Trade King Mobile Review

The Trade King mobile platform seemed quite robust. I used it to make a few trades and do a little research and had no issues. However, looking at the reviews on the iPhone app tells a different story. With only 28 reviews, the app has less than a two-star rating.  Most people complain that they have problems logging in and that there are lags and data delays.  Again, I had no issues trading with the app, but it seems a lot of people do. The Google Play store shows much higher reviews, however, so it seems to be isolated to the Apple version. There is currently no touch ID feature if that is a big deal as well.

Trade King Live

I was a huge fan of Trade King live. I added quite a few stocks to my watch list and it seemed to have no issues keeping up with live trading prices. It is also completely browser based, which I am a huge fan of. It is not on Internet Explorer, but since anyone can download Chrome that isn’t a huge deal. I tested it on both my Macbook Pro and PC and saw no issues.

My favorite part about Trade King live was how customizable it was. You can build your home screen to look exactly as you would prefer it to look. It had tons of features that could be added into your custom look and everything seemed to run smoothly.

Trade King Live Review

Summary

To conclude this review, Trade King is a good platform. It is by no means the best stock broker available, but it is likely the best broker you could get for the price. They are still working out bugs on mobile and improving the Trade King live experience, but are going in the right direction. They seem to have a solid customer service team for when bugs arise and don’t seem to have many server or trading speed issues. We give Trade King four stars and recommend it to any beginning and intermediate level trader looking for a discounted way to make a lot of trades.

Trade King is likely the best deal for the money. They are one of the cheapest online discount brokers, and still offer a platform that rivals those brokers that cost double.

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