TradeKing Review And Everything You Should Know!
The online broker, TradeKing, has become quite popular for its flat fee structure. After acquiring Zecco Trading in 2006, TradeKing mainly focused on the people seeking a low-cost, self-directed brokerage account, with particular attention on personalized client support. Knowing what stocks and shares to invest in is very important.Therefore, you should check out these lists to know more: List Of Best Value Stocks 2017, List Of Best International Mutual Funds 2017 and List Of Best Stocks To Buy Under $10 2017. So, let’s see how good it really is through TradeKing review.
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Due to the limited number of services provided by it, TradeKing offers a flat fee as an attraction. Hence, many people prefer to take up its services.
What Are TradeKing’s Advantages And Disadvantages?
So, let’s take a look at the advantages and disadvantages of using TradeKing.
- The firm offers a highly competitive flat fee structure commission rate.
- You can avail its services through a mobile app.
- There is no minimum initial deposit amount.
- It offers a considerable amount of resource to educate investors and also helps them in research.
- It has one of the best live and easily accessible client support.
- Its web-based platform is difficult to understand and maneuver.
- The interface is slow and tends to lag. Thus, halting important executions.
- There is no free or demo account at the start.
- The broker-assisted trade cost is quite high.
- It has limited platform customization options.
- A $50 inactivity fee is charged if an account, with less than $2,500 balance, remains dormant for a year.
After being in operation for 10 years, TradeKing was taken over by Ally Financial in 2016 for $275 million. Today, TradeKing continues to operate under the Ally umbrella as Ally Invest. So, let’s take a look at the Ally Financial.
Ally Financial Reviews
Ally Financial Inc., known earlier as GMAC Inc. till 2009, is a bank holding company based in Detroit, Michigan. The financial company offers services such as auto financing, corporate financing, insurance, mortgages, stock brokerage and online banking. Ally is among the top auto lenders in the US by volume and is also on the list of largest banks in the country.
What are the various operations of Ally Financial?
Along with the Big Four – Wells Fargo, Bank of America, Citibank and JPMorgan Chase, Ally is one of the top bank auto lenders in the country by volume. Some of the financial services services offered are retail auto financing and leasing, dealer lines of credit, vehicle auction services and insurance coverage.
With a whopping $66.6 billion in retail customer deposits, Ally Bank offers some amazing savings products, such as online savings accounts, certificates of deposit (CDs), money market accounts, interest checking accounts, mortgages and credit cards.
Ally Corporate Finance
This is the corporate finance division of the company and it offers funds to businesses belonging to different industries.
In 2016, Ally Financial acquired TradeKing, an online brokerage platform. It was re-launched in 2017 as Ally invest. Any investor can sell and buy securities such as stocks, bonds, mutual funds and exchange-traded funds and do trade in foreign exchange through its electronic trading platform. If you are looking for other means of investments, here are The 7 Best Short-Term Investment Plans For You!