TradeKing vs TradeMonster



TradeKing BannerTradeKing are one of our favorite brokers, a small company with a great attitude they set the example for all other brokers to follow. They have an excellent trading platform along with one of the best trading communities around.

TradeMonster are also a small broker, but they offer a slightly different product. They don’t have a trading community like TradeKing but they do offer some good options training. They’re definitely a broker that caters for more experienced traders.

To help you choose the right broker, we’ve rated each of them for platform usability, tools and education and of course price. Use the table below to help you choose the perfect broker for your trading style and experience.

Products & Services

Broker TradeKing TradeMonster
Rating [rating:5/5] [rating:3/5]
website Visit the TradeKing Website Visit the TradeMonster Website
Our Review Read Our TradeKing Review Read Our TradeMonster Review
Bank Deposits Bank Deposits
Bonds Bonds
Certificates of Deposits Certificates of Deposits
Day Trading Day Trading
Services Extended Hours Trading Extended Hours Trading
ETFs ETFs
IRAs IRAs
Mutual Funds Mutual Funds
Trading Community Trading Community

Services Overview

TradeKing is one of the best all round brokers out there, they offer all the major products and services at very competitive prices whilst remaining a small and personable company.

TradeMonster are a smaller broker than TradeKing, they don’t offer quite the same number of services but have most of the bases covered. Only Certificates of Deposits are missing and I think most investors tend to get those through their bank rather than using a broker.

Most brokers offer the main investment products these days so it’s difficult to separate them purely on products. Trading platforms and customer service are a different story however.

Trading Tools

TradeKing TradeMonster
Automated Trading Automated Trading
Investor Resource Center Investor Resource Center
Mobile Trading Mobile Trading
Online Advisor Online Advisor
Trading Tools
Profit & Loss Calculator Profit & Loss Calculator
Streaming Charts Streaming Charts
Stock & Fund Screeners Stock & Fund Screeners
Tables & Graphs Tables & Graphs
Training & Education Training & Education
Virtual Trading Virtual Trading

Platform Overview

TradeKing offer an exceptional platform for a broker of their size. I used it for many years when I started out and found it incredibly intuitive and easy to use. It maybe lacks a few of the more specialist tools a more advanced trader will need like take profit and volatility charts. But it should suffice for most beginners and intermediate traders.

TradeMonster on the other hand is a company that started out purely as an options broker. They have added other services as they’ve grown over the years. As a result many of their tools are weighted towards options traders. It’s not really suitable as an all round platform.

Neither of these brokers is suitable for day traders as they don’t offer level 2 data. Also whilst not expensive neither broker offers discounts for frequent traders so they may prove too expensive for day trading.

Fees & Commissions

TradeKing TradeMonster
Account Minimum $0.00 $2000
Margin Account Minimum $2000 $2000
Stocks & ETFs $4.95 $7.50
Options Base $4.95 $0.00
Options Per Contract $0.65 per contract $0.50 per contract ($12.95 min)
Account Management Fee $0.00 $0.00
Broker Assisted Trades $5.00 $15.00
Mutual Funds $14.95 $15.00
Bonds $4.95/bond ($14.95 minimum) $15.00/bond
IRA Annual Fee $0.00 $0.00

Summary

If you’re an all round trader and looking for a broker to manage your IRA account or build up a small portfolio, then TradeKing is the broker to choose. They have excellent pricing across the board, a better all round platform and an excellent trading community.

TradeMonster are only really suitable if you trade predominately options. Their platform is just too limited in terms of stock and mutual fund tools to be any good for an all round trader.

If you’re a beginner then TradeKing win again, they have an excellent community and training for you to learn from which along with their platform make them one of the best brokers for rookies to hone their skills.




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