Monday, March 7, 2011

TradeKing - $100 Bonus!

My Roth IRA is with Fidelity, and I've had a regular brokerage account with Schwab for a long time, but lately I've been searching for a cheaper option. Fidelity charges $7.95 a trade, and Schwab charges $8.95. I'm happy with both platforms, but those fees can really whittle away at profits.

I initially was drawn to Zecco, but just as soon as I'd made the decision to open an account they dropped the free trades! There are a handful of options for trades in the $5 range, so I didn't rush to open a new account. I figured somebody would offer some kind of new account incentive soon, and I didn't have to wait long!

TradeKing is offering a $100 referral bonus for referring friends, and will also give the friend $100 for opening a new account by March 31st. All you need to do is get a referral to open an account, fund it with $1000 within 30 days, and make your first trade within 180 days. The $1000 minimum (minus any trading losses) must remain in the account for at least 180 days or you will lose your bonus.

This bonus is a great way to get started investing for people who have started a savings habit and reached $1000. Even if you're an experienced investor, it's a great incentive to try out a new and very discounted brokerage. TradeKing charges only $4.95 per stock trade. I can't find anything cheaper than that - if you can, let me know!

I'm excited to get  started with them, and don't plan to close my account after 180 days. For $4.95 trades, I definitely plan to stick with TradeKing.

If you know someone using TradeKing, ask them to send you a referral e-mail. If you don't know anyone, feel free to shoot me an e-mail at and I'll e-mail you a referral.

The best part? Once you're signed up, you can refer friends and earn another $100! Just remember, the promotion ends March 31st.

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