TradeKing Account Opening

Updated Sunday, December 28, 2008

 Account Opening Grade: C

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The Registration process at TradeKing is average. Signing up for margin and options trading is well done. Setting up electronic funding transfers needs to be improved. Logging into my account using the on screen keyboard to enter my password might be secure, but it is also annoying.


Minimum initial account deposit: None

I opened a standard brokerage account.

The TradeKing welcome screen (click on images for larger views):

I signed up for margin and options trading. The margin, options and account agreement forms are all found conveniently on one page. This is well designed:

The initial registration process is complete:

Once I completed the initial registration, I received a notification email within seconds that said my application was received. The next morning I received an account approval email and then I logged in for the first time. When logging in to TradeKing, users enter their password using the mouse to select characters on an on screen keyboard. This might enhance security, but it is also annoying:

After entering my password, I was asked to populate security questions. At that point I could setup a linked account for electronic fund transfers. To do this, I needed to send copy of my drivers license and a voided check by mail or fax:

I chose to fax these items. It took TradeKing seven days to approve my linked account. This electronic funds transfer setup processes needs to be improved.

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