TradeKing Promotion – $50 Bonus for Opening Brokerage Account

January 27, 2011

TradeKing $50 bonus for new accounts runs through the end of this month. Online stock brokerage TradeKing is running this promotion for new customers that open a TradeKing account before the end of the month. You’ll get your $50 bonus after you make your first trade.

If you’re already a customer be sure to watch for the refer a friend TradeKing promotion because it’s pretty slick.  You can login to your account and recommend TradeKing to a friend or family member, if they like it and sign up then you both get a bonus.

TradeKing Promotions

Typically they pay you $50 for each referral but during the promotion they give both you and the person you refer $100.  In order to qualify for the TradeKing promotion they have to fund their account and make a trade. 

When I first opened my TradeKing account I didn’t fund it right away, and they sent out an email letting me know about their funding options of ACH, wire transfer, check, and account transfer from another broker.  So if your friends are busy and forget to add money they’ll probably get a reminder email from TradeKing.

In the past, we’ve seen the most TradeKing promotions in the Spring and the Fall so are probably your best chances to take advantage of the sign-up bonus.

TradeKing Service

TradeKing was picked as the best discount online broker by Smart Money magazine for two years in a row (2006 – 2007) and as the best in customer service in 2008. TradeKing also scored well in Barron’s in 2008, earning a 4-star rating and beating brokerages such as E-Trade, TD Ameritrade, and Charles Schwab.

It’s good to see they’re consistent with their emphasis on serving investors, they were named the top online brokerage for customer service in 2010.  Kiplinger’s also featured TradeKing as one of the best online brokers for 2011.  

If you’re curious about what makes TradKing so popular with online stock traders, I did some research and listed below some of the reasons I found that TradeKing gets such high marks:

  • Low Trading Costs
    • Smart Order Routing excecutes each trade at best price
    • No extra charge for broker assisted trades
    • Reimburse your commission if they don’t get you best available price
  • Educational Resources
    • Webinars
    • Video tutorials
    • Podcasts
  • Trading Community
    • Online community of stock traders
  • Tools
    • Tax Manager
    • Technical Analysis
    • Detailed research reports
    • Streaming quotes
  • Options Trading
    • Option trading strategies (multi-leg chain, strike price, & spread)

TradeKing Education

The cool thing about the educational content at TradeKing is that it’s free and open to all investors, not just members.  They cover the topics you’d expect – stocks, options, ETFs, bonds and mutual funds but you can also tailor the information you’re reading based on your skill and experience investing.  So new investors won’t be tripped up by more advanced topics – and experienced traders can read about higher level strategies for stocks and options without having to wade through introductory info they already know.

Something they’re really proud of, that I haven’t made much use of, is their Trader Network – kind of a social network for investors where you can share experiences, ideas and strategies.  I can say that their webinars are really useful.  They have to read through some mandated disclaimers at the beginning of each webinar but once you get past that first minute or two they cover some pretty useful topics.

TradeKing Mobile

The TradeKing BlackBerry app was a big hit for some of the members.  If you’re like me and don’t have a Blackberry this didn’t do you much good but a while back they did come out with a TradeKing iPhone and iPod touch app.

If you’re not in front of a computer all day like I am then I guess these apps can come in handy. The iPhone app let’s you see your balances & holdings, place orders, and make stock & option trades.  It also has news features where you can read market commentary and news and see quotes and charts.

Both the BlackBerry mobile application and the iPhone version are free, there are no minimum balances or trading activity levels required to use them.

TradeKing Bonus

Back to the sign-up offer. It doesn’t sound as though you’ll be able to get the $50 bonus directly through the TradeKing site. There is no promotion code that I’m aware of, you’ll need to sign up using this link through the end of this month and make a trade to get your $50.

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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want.

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