Etrade, TradeKing in SmartMoney 2009 Broker Survey
SmartMoney conducts a broker survey every year and now you see why I highly recommend Etrade Financial and TradeKing. Etrade is ranked first for the third year in a roll and TradeKing is ranked fourth but have the cheapest trading commission in the top ten at $4.95 a trade. In fact, the top three, Etrade, Fidelity and Charles Schwab are $9.99, $10.95 and $12.95 respectively so it’s not even close.
I personally use Etrade right now but have been contemplating on switching to TradeKing because of the lower commissions. According to SmartMoney, TradeKing has:
- Mutual Funds and Investment Products: 3 stars
- Banking Services: 2 stars (they actually don’t have a banking unit like Etrade)
- Trading Tools: 5 stars
- Research: 3 stars
- Customer Service: 5 stars
Not too bad. I must admit that I love the fact that Etrade has a high yield savings account tied to the brokerage firm and act as a super high yield sweep account for me. But $4.95 of TradeKing is sure tempting.
It’s nice to see that a major magazine like SmartMoney essentially telling me that whether I stay with Etrade or go with TradeKing, I will be in good hands though. The debate continues…
Sign Up For a TradeKing Account
- TradeKing – Official Site
- Etrade Financial – Official Site
Additional Reading:
- Etrade Financial Review
- TradeKing – Review from MoneyNing.com
- SmartMoney Top Broker Survey Full Rankings – Official Site
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Related Articles at Investing School:
- Best Stock Brokers
- Etrade vs Tradeking vs Zecco – Trading Commissions Comparison
- ShareBuilder Review – Stock Broker for Automatic Investing
- Zecco vs TradeKing Discount Brokerage Comparison Review
- TradeKing vs Scottrade – Online Stock Trading Comparison
