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TradeKing $100 Cash Bonus For New Accounts and Free Trades

This article was written by in Investing. 10 comments.


From now until August 31, 2011, the TradeKing discount brokerage is offering a $100 cash bonus for all new accounts that are funded with at least $2,500 and execute three trades. If you happen to lose money in an investment, you won’t be penalized and will still receive the bonus.

$100 bonus

The $100 cash bonus is the highest cash back bonus currently offered by an online discount broker. If you follow discount brokerages, you may notice that this promotion looks familiar; TradeKing seems to offer the same promotion several times each year. In the past, they’ve offered only $50, so this offer is even more attractive. Details on this promotion are straightforward, so make sure you follow the rules accordingly. Unfortunately for current customers, the bonus is for new accounts only.

As mentioned above, new customers who wish to receive the bonus must execute three trades within the first 180 days. If any of these rules are not met, the $100 cash bonus will be forfeited.

TradeKing continues to be one of the most impressive low cost discount brokers with low commissions ($4.95 per trade and $0.65 per option) and excellent customer service. It has repeatedly been voted top discount broker by Smart Money and Kiplinger. TradeKing also offers top-notch online security with data encryption as well as a world-class eduction center where account holders can communicate with and learn from each other.

Free trades

Over the past few days, the market has been volatile, and some TradeKing customers, anxious to trade either to take advantage of the volatility or to protect their holdings encountered some technical difficulties. As a result, all trades this Friday, August 12, 2011, will be free. The brokerage will charge commissions as usual, but they will be refunded on Monday. Here’s what a representative had to say:

When we founded TradeKing in 2005, we set a high bar: to do everything in our power to help ensure our clients’ trading success. The past few days have been rough on all of us. I want you to hear straight from me that, for our part, we acknowledge that we have not lived up to the stellar client service standard we set for ourselves and which you deserve and have come to expect from TradeKing… This Friday we’ll be offering a special free trade day for all clients. Any trades placed throughout the day on August 12 will be absolutely free of commissions..

This limited-time bonus offer will only be granted if you visit TradeKing through a $100 bonus link, which can be found in this article or on a few other personal finance websites, but the free trades are available to any account holder including new customers. No promotional code or coupon code is needed when signing up. To receive your $100 cash back bonus, visit TradeKing.com.

Updated February 19, 2014 and originally published August 11, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 10 comments… read them below or add one }

avatar Judy Matthews

Subject: Not allowing me to sell my stock.

A few days ago on 10/31/08 I bought ( MGM ) when the stock started to tumble I tried to sell it, and TradeKing website would not let me. It returned a message saying:( that I was trying to sell a stock that had not yet settled ). This cost me, I lost over a dollar a share so I called and I was told that I had to have a margin account in order to buy and sell up to 3 stocks in a 5 day period of time. so I opened a margin account and waited. After about 2.5 days I got a letter saying my margin account was now open, So tried to sell ( MGM ) and there website let me. The next day I bought (s) and (GNBT). I held it for 2 days and then tried to sell it. Again there site would not let me. I got a message that said the account was restricted. So I called trade king and asked why. First I was told I bought more shares of (MGM) than I had money so the account was restricted for 90 days. I told TradeKing I did not buy too many shares that after I bought my shares that I had money left over. Then I was told that I sold MGM to soon. Well after I opened a margin account 2.5 days latter, I told TradeKing there site let me sell (MGM) so I assumed that everything was alright because the only thing that will over ride there site, is if a person calls in and tells them to sell it. Which I did not. Tradeking told me that they sent a letter saying that I was restricted, which they did not. ( I told TradeKing check there sent mail and you will see that they did not send me a letter ) and even if I was restricted why did trade king allow me to buy more stock after I was restricted? And if I was restricted, I told TradeKing they need to reimburse me for the difference. The money I lost on the stock after I was restricted since I was not allowed to sell it. It seems to me a person can buy stock at Tradeking but they can not sell it. So I got fed up and called and asked trade king to sell all my stocks, (S) (SIRI) and (GNBT) I had to argue with them for over 30 min. before they sold my stocks for me and it was falling in price.
Sincerely, Judy T Matthews

http://www.tradeking.com/

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avatar lynn ♦155 (Cent)

Thanks for the head’s up.

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avatar Bobka ♦13 (Newbie)

Thanks for the heads up on this offer.

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avatar gotr31 ♦224 (Cent)

Thanks for the info!

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avatar nimrodel ♦42 (Newbie)

Part of me wants to take advantage offers like this, but I’m hesitant to switch because I use sharebuilder currently, and use ing direct as my high-yield savings account. I really like the convenience of having my accounts with the same place.

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avatar skylog ♦368 (Nickel)

i feel the same way as i do some regular etf purchases through sharebuilder with ing as my funding source. that said, with the coming sale of ING to capital one, this option will be gone soon enough anyway, so you should give it some thought if you are really thinking of switching.

i will be upset when i eventually make some move as well, as i was able to find many promotional codes for free trades with sharebuilder a while back. the loss of the instant transfer and the “free” trades will be tough one.

that said, i have been seriously looking at this option, but i just have not decided as of yet.

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avatar TakeitEZ ♦549 (Dime)

I really would like to start investing in stocks or bonds but don’t have the $2500 to put down in one lump for this offer. I will have to look for a more inexpensive deal somewhere else. Thanks for the link anyway!

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avatar faithfueledbennetts ♦264 (Nickel)

Thanks for the tip! Every dollar counts :)

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avatar skylog ♦368 (Nickel)

thank you for the tip flexo. i had also read that Trade King was offering a similar offer and also a refund of up to $150 for any account transfer fees that one may be hit with if one moved their assets from another broker to Trade King.

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avatar Tony

I am with scottrade and they have told me the same thing but it federal or security exchange that make those rules. If you sell 5 stock in a week then you are considered a daytrader of course they have a different name for it. At that point you must have over 25,000 and a margin account. What you get is four times your money that you can trade in a day. So I am good with the rule. Now a nonmargin account such as my Roth Ira if I make a trade and sell it. They will allow me to buy another stock with that same money but I will not be allowed to sell it until the money has settled which is 3 trading days so it fourth day you can sell it. That is also a federal rule because what they contend is that you are free riding the stock. In other word you made a profit on a stock when you actually never invested any money since you couldn’t afford it because you didn’t have the money in the account. This rule is also set aside with a 25000 dollar account with margin account. Plus with that account you can trade 100000 dollars a day.

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