Is TradeKing a Scam?

TradeKing promises secure trading and offers generous bonuses to new clients. But is this broker legit or is TradeKing a Scam?

We have made a research of TradeKing and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.

Since we haven’t gathered enough information yet, we cannot confirm that TradeKing is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Binary Options Brokers:

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TradeKing Review

Launched in 2005, TradeKing is a stocks and options broker that is based in Florida.  According to the founders, TradeKing is a compelling new alternative that can help traders engage with other traders and become better at trading.  The founders believe that it is their hard work combined with fairness, honesty, high quality service and cutting edge technology that has allowed them to come up with a service that can give traders a platform where they can feel informed, valued and become a part of a community that is dedicated to help them succeed.

Our team of investigators did a thorough research on TradeKing’s customer support service, withdrawal procedures and their offerings.  Read this honest review to find out more.

Is TradeKing A Scam?

The financial trading world is full of scam brokers which make it quite difficult to choose one that can offer a secure and safe trading experience.  When we researched about TradeKing, we did not find facts, complaints or information that tell us that it is a scam.  But, at the same time, we cannot say for sure that they are 100% reliable.  They offer plenty of free tools which can provide support to traders who are trying to learn the basics of trading.  They also offer low prices which are quite fair and a community where traders can engage with other traders and enhance their trading skills.

Trading Platform

One of the first things that every trader must look at when choosing a binary options broker is its trading platform.  They must find out if the trading platform is intuitive and user friendly.  During our testing of the TradeKing Platform, we found that it is simple to use.  They offer a commission of $4.95 on stock trades.  For binary options, the commission is $4.95 plus an additional $0.65 per contract.  When it comes to placing the actual trades, they have a number of separate trade ticket pages.  They also offer a calculator and options scanner to help traders find potential trades easily.

TradeKing has an education centre which contains information about making investments, investing terms and investing styles.  Depending on the level of experience you have in trading, you can choose the information that you want to know more about.  There are comprehensive guides as well as blogs which have been written by other traders.

Account Types And Bonuses

The first type of account that you can sign up for at TradeKing is TradeKing Securities which has no account minimums.  The second type is TradeKing Advisors where a minimum investment of $500 is required for Core Portfolios and a minimum of $5000 is required for Momentum Portfolios.

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TradeKing offers bonuses and runs promotions from time to time.  If you open an account during their promotional period you may be eligible to get a bonus.  However, you must meet their terms and conditions to get the bonus amount into your account.  For example, if you make a deposit of $3000, you may qualify for a bonus of $200, but for this, you will have to execute a certain number of trades.

How To Get Started?

  1. Sign Up – the first step is to register an account which is free of cost. You have to enter your personal details and obtain your login information that you will use for all your transactions at TradeKing.
  2. Trade & Profit – To be able to trade, you have to make a deposit and the amount depends on the type of account you want to have.
  3. Withdraw – withdrawal procedure is simple and is done by check.  You can withdraw your earnings once you have made profits on your investments.

Deposit and Withdrawal Procedures

When you open an account at TradeKing, you can do so without having to meet a minimum deposit requirement.  This means you can open an account without depositing even a single dollar.  But, when it comes to trading, you must invest money.  Small investors can benefit greatly at TradeKing because they can start trading with a nominal amount before they are ready to invest more.

tradeking paymeny

To make a withdrawal, you have to request a check.  You have to navigate to My Accounts and then choose Transfer Funds and then click on By Check.  You can enter the amount you want to withdraw and then Click Submit.  You can request a maximum of $10,000 by check.  However, if you wish to withdraw a larger amount, you can contact them on their telephone number that is provided on their website and ask for assistance.

Support Information

Additional assistance is available through their customer support service.  Their customer support team can be reached by telephone and fax during normal business hours, email – [email protected] or live chat (available 8am – 6pm, Monday – Friday).

Conclusion

After detailed investigation our team concluded that there are better choices than TradeKing. We cannot confirm that this binary options broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with TradeKing.

We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.

Or Select Another Broker From Our List

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