Update: TradeKing’s $50 referral deal has expired. Trades are $4.95 each, options are $0.65 a contract. If you are thinking of switching brokers, Tradeking is still offering their $150 transfer fee reimbursement program detailed below.
Refer-a-Friend promotion details. Thinking of opening a new TradeKing brokerage account? If you open a new TK account and fund it with $3,000 plus make 3 trades within 90 days of opening the new account, you’ll get a $50 cash bonus (Expired). You’ll need to keep the $3,000 in the account for those 90 days (technically it must be there at time of review). You used to have to ask for a referral manually, but thankfully now you can apply instantly. To verify, look for the following text on the top after you click the bonus link:
Thanks for taking your friend’s suggestion to open a TradeKing account — we think you’ve made a great decision. We’ll treat you like a best friend should, we promise, and as a bonus, we’ll put $50 in your account.**
No promotional code required. The fine print:
New referred client must fund their account with a minimum of $3,000 and place 3 trades within 90 days of opening the new account. Account types that don’t qualify include: Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Simple IRA, Solo 401K and Coverdell IRA. Accounts will be reviewed 90 days after account is opened to confirm that all of the requirements are met. At the time of review 3 trades must have been placed within the past 90 days and the account must have at least $3,000 in account equity.
If you transfer an account of $2,500 value or greater over to TradeKing, they will also refund up to $150 in account transfer fees charged by your old broker. You can combine with the above offer.
TradeKing will credit your account transfer fees up to $150 charged by another brokerage firm when completing an account transfer for $2,500 or more. Offer applies to new non retirement accounts funding for the first time. Credit will be deposited to your account within 30 days of receipt of evidence of charge.
TradeKing offers $4.95 trades with no minimum balance requirement or inactivity fees. I’ve been using them for a while, they are a good basic broker for ETFs and dollar-cost-averaging. I am not an active trader or daytrader.