With options screeners, strategy scanners and customized charting, among other things, traders with a bit of experience have tools they can mine for maximum manipulation of the market. Ally Invest (formerly TradeKing) offers stock trades at $0 per trade and options trading at $0 + $0.50 per contract. Both E-Trade and Robinhood run self-directed investment services, but their customer service levels vary immensely. E-Trade supports a customer service phone number that customers can use to get help 24/7. For a long time, Robinhood only relied on email, which is slow for customer contacts and undermined the service. Only recently did Robinhood make it possible to access company representatives through calls.
- Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
- Of course, your perspective may vary — personal opinions are personal, after all.
- In the world of online brokerage companies, TD Ameritrade and E-Trade are giants whose expertise stems from a rich history of trading.
- With options screeners, strategy scanners and customized charting, among other things, traders with a bit of experience have tools they can mine for maximum manipulation of the market.
E-Trade’s two platforms, E-Trade and Power E-Trade support all trading and the functionalities transfer to the mobile application. For investors, there’s no barrier to effective trading and customization features. TradeKing and E-Trade both present the potential and current investor with a solid trading platform. However, choosing between the two isn’t as simple as a Mac vs. PC argument. Like Robinhood and North America-based TD Ameritrade, there are plenty of alternatives that may take the focus away from either of them. Knowing how they rank against each other and these alternatives can help you make the best data-driven decision in a market where intuitive experience matters most.
Brokerage Reviews
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- TradeKing has a web interface, like most, and an advanced trading platform called TradeKing LIVE.
- The regular TradeKing platform does not allow users to trade currency, but there is separate platform they can sign up for, which is part of the TradeKing brand called TradeKing Forex.
- A user with $2500 in his/her account doesn’t have to worry about carrying out trades during the year in order to avoid this fee.
- However, some aspects of the platform Ally Invest offers limits its potential, including the lack of syncing between the app and the web platforms.
- TradeKing offers free stock reports from S&P Capital IQ, among others, and provides a number of other research tools on TradeKing LIVE.
Both brokers provide their clients with ample stock and fund screeners. If someone falls into both of these categories, there is a TradeKing inactivity fee of $50 that is charged annually. A user with $2500 in his/her account doesn’t have to worry about carrying out trades during the year in order to avoid this fee.
Other Services
TradeKing has no physical locations, making it that much harder to reach out to real people to get stock tips and help with their accounts. With that in mind, E-Trade’s physical presence brings it even with TradeKing’s highly-rated services. The primary way most traders do this is through online trading platforms provided by their respective firms, and TradeKing and E-Trade charles schwab vs etrade have some unique offerings for those clients. TradeKing has a web interface, like most, and an advanced trading platform called TradeKing LIVE. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only.
Is E*TRADE really free?
With its operation model that requires 0 annual and custodial fees, IRA is easily one of the most reliable partners in the market. TD Ameritrade takes the customer service expectations to a new level through its chatbots on social networking platforms, on its app, and a virtual client service agent. What’s special about customer service with E-Trade vs. TradeKing is that E-Trade’s customer service representatives are available by telephone 24/7. This is an uncommon but extremely attractive feature for investors seeking the peace of mind that readily available help brings. Both TradeKing and E-Trade provide their fair share of advantages to all kinds of brokers — it just depends on what you’re looking for.
To that end, beginner traders might balk at the high barrier to entry, as well they should. In this review, we break down their features, fees and more to see which one we can recommend for you. One oddball feature is a button that “inverts” the chart, which reverses all the plots. Morgan Self-Directed Investing account with qualifying new money.
Better for IRA Accounts: TradeKing or E*Trade?
E-Trade has been around since 1982, and the Morgan Stanley merger means that customers now have equity research services. The foreign currency exchange market is not centralized in the way that securities are in the form of exchanges like the New York Stock Exchange. While TradeKing Forex is not a market maker, its owner, GAIN Capital, is and, as it states in its disclaimer, its interests are not always lined up with its users. This does not necessarily mean that Person A is obligated to buy that security.
TradeKing is a competitive option for those seeking a low-cost, user-friendly online broker. However, its limited research tools and lack of physical branches may be a drawback for some investors. Ultimately, TradeKing is a solid choice for cost-conscious [Type] investors who prioritize simplicity and ease of use over comprehensive research tools and in-person support. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.
Trading costs and commissions
The final output produces star ratings from poor (one star) to excellent (five stars). Its bond offerings include core bonds, corporate bonds, ultra short-term bonds, municipal bonds and short-term municipal bonds. Free and extensive, with several external providers available at no cost. Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. There isn’t any hard-and-fast rule for what makes a broker better than any other. Economy, finance & investment strategy blog written by experts.
Executing at or above the NBBO means you may receive price improvement, or a better share price than you were originally quoted. You may also be interested in comparing Ally Invest or Robinhood. Now, Ally may not be our first choice out of the options listed here, but it is still a good choice for someone.
Despite sharing many similarities, E-Trade seems to be the better option. While Ally Invest is an affordable discount broker, the usability of its web and mobile platforms is low. Generally speaking, the price comparison of TradeKing vs. E-Trade is $4.95 against $9.99, respectively. However, it is a bit more complicated depending on what kind of investment vehicles you plan on using via these platforms.