TradeKing Account Type

TradeKing offers a variety of account types suitable for different trading needs. The primary account types include:

• Individual Brokerage Account: This account is designed for individual investors looking to trade stocks, ETFs, and mutual funds. There are no minimum deposit requirements, and the commission for stock trades is $4.95.

• Mini Account: This account is tailored for beginners, allowing for lower deposit requirements while providing essential trading functions. It is suitable for trading with minimal risks.

• Standard Account: An upgraded version of the Mini Account, the Standard Account includes additional features such as phone trading and one-click trading.

• Margin and Options Trading Accounts: These accounts are generally suited for more experienced investors who want to engage in margin trading or options trading.

TradeKing Broker Account Opening Process

Opening a TradeKing brokerage account is a straightforward process that can be completed in approximately 10 minutes. Here are the steps involved:

• Gather Required Information: Before starting the application, ensure you have the following:
• Social Security Number or Individual Taxpayer Identification Number
• Employer's contact information (if applicable)
• Bank account information for funding (can be set up later)

• Open the Account: Navigate to TradeKing's website and click on the "Register" button. You'll need to create a username and password at the beginning of the application.

• Select Account Type: Choose the type of account you wish to open. For this guide, select the Individual Brokerage Account.

• Enter Personal Information: Fill out your personal information, including address, phone number, and citizenship. You will also answer questions about your employer, annual income, net worth, and trading experience.

• Submit the Application: Review all the information entered, agree to TradeKing's customer agreement, and electronically sign the application.

• Fund Your Account: Decide how to fund your account. You can link your bank account for real-time funding or choose to fund it later via check or wire transfer. If funding immediately, you will need to enter your bank login credentials to link the accounts.

• Final Steps: If funding immediately, send a copy of your ID and a voided check or bank statement. You can upload these documents or send them via fax or mail.

After completing these steps, you will have access to your TradeKing account and can start trading.