Online broker TradeKing announced it has earned a four-star rating in Barron’s 18th annual survey of Best Online Brokers and was distinguished in the survey as one of the top firms for options traders.
This marks the firm’s seventh consecutive four-star ranking from Barron’s, and its first since merging with online broker Zecco Trading Inc. in 2012. In the survey of two dozen online brokers, TradeKing again outperformed larger, more expensive brokers including Charles Schwab, E*Trade, Fidelity and Scottrade.
In the survey rankings, TradeKing was named among the “Best for Options Traders,” a category in which the firm has been noted as a leader for six consecutive years. The firm also received strong scores for education and customer service, as well as for its research and reporting tools.
Barron’s editors pointed to the added benefits to clients resulting from the TradeKing/Zecco merger, writing: “They were able to add new mobile apps, an upgraded research center, and foreign exchange trading over a seven-month period, which is quite remarkable…The screening capabilities…were much improved during the merger.” TradeKing also received kudos for its TradeKing LIVE platform for active traders as well as its Options Strategy Workbench for building options trades in “a flexible and educational way.”
The Barron’s survey measures overall brokerage performance based on eight key aspects: trading experience and technology, usability, mobile, range of offerings, research amenities, portfolio analysis and reports, customer service and education, and costs.
“The combined team from TradeKing and Zecco worked hard this past year to bring the integration of our two firms together in the best, most expeditious way possible for our clients,” said Don Montanaro, CEO of TradeKing Group, Inc. “We were able to accomplish a lot in a very short period of time, and our hope is clients see that as evidence of our commitment to pushing hard everyday to build the best possible brokerage. We are encouraged by the recognition we’ve received in Barron’s, but we see great opportunity to compete at the highest level in the years to come by delivering unbeatable value for our clients.”