Forex trading is one of the most popular forms of online trading, and it requires a reliable platform to execute trades. TradeKing is a popular choice among forex traders due to its user-friendly platform, competitive pricing, and extensive resources. In this article, we will explore why forex traders use TradeKing and how it stands out in the crowded forex trading market.
TradeKing Overview
TradeKing is a brokerage firm that was founded in 2005 and acquired by Ally Financial in 2016. It offers a variety of trading options, including stocks, options, ETFs, mutual funds, and forex. TradeKing’s forex trading platform is powered by GAIN Capital, which is a well-known provider of forex trading technology.
Why Forex Traders Use TradeKing
1. User-Friendly Platform
One of the main reasons forex traders use TradeKing is its user-friendly platform. The platform is intuitive and easy to navigate, making it ideal for both beginners and experienced traders. It is customizable, allowing traders to personalize their trading experience based on their preferences.
TradeKing’s forex trading platform includes advanced charting tools, technical analysis indicators, and real-time news feeds. Traders can also access a range of educational resources to improve their trading skills.
2. Competitive Pricing
Another reason forex traders choose TradeKing is its competitive pricing. TradeKing charges a flat fee of $4.95 for stock trades and $4.95 plus $0.65 per contract for options trades. For forex trades, the pricing is based on the spread, which is the difference between the bid and ask prices.
TradeKing’s forex spreads are competitive compared to other brokers in the market. The firm charges a minimum spread of 1.2 pips for major currency pairs, which is lower than some of its competitors. The firm also offers a range of promotions, including cash bonuses for new account holders.
3. Extensive Resources
TradeKing provides an extensive range of resources to help forex traders make informed trading decisions. The firm offers a range of educational materials, including webinars, video tutorials, and a knowledge center. Traders can also access real-time news feeds and market commentary to stay up-to-date with the latest market developments.
TradeKing’s forex trading platform also includes advanced charting tools and technical analysis indicators. Traders can use these tools to analyze market trends and identify potential trading opportunities.
4. Customer Service
TradeKing’s customer service is another reason why forex traders use the platform. The firm provides 24/7 customer support through phone, email, and live chat. Traders can also access a comprehensive FAQ section on the website to find answers to common questions.
TradeKing’s customer service team is knowledgeable and helpful, and they are always available to assist traders with any issues or concerns.
Conclusion
TradeKing is a popular choice among forex traders due to its user-friendly platform, competitive pricing, extensive resources, and excellent customer service. The firm provides traders with everything they need to make informed trading decisions, including advanced charting tools, technical analysis indicators, and real-time news feeds.
TradeKing’s forex trading platform is customizable, making it ideal for traders of all levels of experience. The firm also offers a range of promotions and bonuses to new account holders, making it an attractive choice for those looking to get started with forex trading. Overall, TradeKing is a reliable and reputable broker that is well-suited for forex traders of all levels.
