Online Trading Battle
Battle of the Discount Online Brokerages
TradeKing vs. TradeStation
TradeKing and TradeStation are comparable discount online trading houses that offer low commission trades of $4.95 and $4.99 respectively, however, they differ in the level of services provided. While both have similar offerings including online investment communities were users can interact to bounce information off of on another to generate new trade ideas and strategies, it’s the services that make them stand out. As such, they are the perfect candidates to match up against each other to determine which provides the most value for their discount execution prices.
TradeKing offers several research tools for their users. They aggregate company specific financial data to present it in a way that customers can interpret. This data is supplemented with industry expert analysis. TradeKing also offers market snapshots, statistics and news so customers get an overview of the industry.
Labs is the proprietary research function of TradeStation. They offer proprietary quantitative technical analysis for individual securities. Additionally they offer users access to 3rd party market research.
Winner: TradeKing offers a superior research product in every category.
TradeKing offers an interesting education section that categorizes articles in accordance with investing experience. Their offerings include detailed information across multiple asset classes and the entire market as a whole. In addition to hosting financial news content, they also host TradeKing created articles relevant to current market conditions.
TradeStation hosts content on learning about investing, but offer both written articles and videos for people who learn better visually. Additionally, they host daily pre-market webcasts to give provide market information and updates. If that was not enough, they also host special events and conferences for their users to learn from industry professionals and investing experts.
Winner: TradeStation wins in a landslide. They do an excellent job of explaining the basic of investing and making sure that their customers stay on top of their education, learning as the market changes and evolves.
TradeKing offers users two different choice for custom built portfolios. One will include core holdings as a long-term, low volatility investment. They also offer a momentum portfolio that is more actively traded and is a play at investing designed to deliver better, uncorrelated returns than the overall market. TradeKing builds portfolios based on a customer’s specific preferences while supplying access to industry professionals for guidance.
TradeStation does not offer portfolio guidance.
Winner: TradeKing in a landslide.
TradeKing gets the win. While TradeStation’s education service is far superior, the content they host is proprietary but the information is not. It is not difficult to find free investing education online. TradeKing offers a premium online trading product at discounted commission rates.
Now that you have discovered the best options for discount brokerage services, figure out which online trading solution is right for you by checking out these excellent brokers.