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TradeKing Forex is part of the TradeKing Group which was established in 2005 and is domiciled in Fort Lauderdale, Florida. TradeKing Forex was added to the TradeKing lineup after establishing the need to add Forex to its list of trading products and subsequently acquiring MB Trading.com, a U.S. based futures and Forex broker.
Under TradeKing Forex, Trade MB Trading Desktop Pro clients will be migrated to the TradeKing ForexTrader platform and MetaTrader 4 account balances will be moved to a new TradeKing Forex MetaTrader 4 server.
All migrated MB Trading Desktop Pro account holders can familiarize themselves to the new platforms by opening a practice account with TradeKing Forex with $50,000 in virtual funds . No fees of any kind are charged for this access, nor is there a minimum balance to maintain for cash and retirement accounts.
A full explanation of the ramifications of the migration can be found in the FAQ section of the TradeKing Forex website.
TradeKing Forex Home Page
There are two basic trading accounts at TradeKing and they can be designated in several ways including individual, and IRA. Mini accounts at TradeKing Forex require $500 to start and Standard accounts must start with at least $2500.
TradeKing Forex offers tight spreads as low as 1-2 pips and even tighter with Forex Pro.Traders can choose from over 50 currency pairs including gold and silver in real time.
TradeKing ForexTrader charts powered by a third-party composite rate feed and deliver a comprehensive, platform-integrated technical analysis package. These charts include multiple indicators for advanced technical analysis and can be customized for individual preferences , including chart type, colors, intervals and more.
The daily, weekly and monthly charts offer unique modal candlesticks and modal bars, and traders can use more than 18 technical indicators such as simple and exponential Moving Averages, Bollinger Bands, Relative Strength Index (RSI), Parabolic SAR, Stochastics, MACD, GANN Lines, Keltner Channels and Fibonacci studies. They can also choose from 11 intervals, including 8 intra-day charts such as candlestick, line and bar.
Traders with accounts at TradeKing Forex can tap into a vast trader network through the TradeKing Trader Network and interact with over 75,000 fellow traders by sharing experiences, ideas and strategies for trading. They can see what currencies are being traded, get insights from fellow traders and the pros, learn the reasoning behind specific trades and join the discussion on the trading forums.
At the time of this review there were no bonuses or promotions offered.
The education center is full of useful information about investments, investing styles and investing terms. Traders can access educational material in the form of tutorial lessons on the basics of Forex trading, fundamental and technical analysis, calculating P&L and more.
Forex Insider provides traders with actionable analysis of news, events and technical levels that impact currency prices - as they happen. Updates are published up to 20 times an hour by senior traders and members of the experienced research team at Gain Capital. Forex Insider is available directly within the platform, allowing traders to act quickly.
Traders can also keep up on market developments with real-time, concise news headlines from Dow Jones Newswires, available on the TradeKing ForexTrader and MetaTrader 4 platforms.
There is also an economic calendar with key economic releases for the upcoming week. Traders can review the reactions of the currency markets to past events and see forecasts for the future.
Deposits can be made via bank wire, ACH transfer or credit cards. Checks are also acceptable and can be sent to their Florida and North Carolina addresses. Withdrawals are sent to the account holder by the same means.
TradeKing Forex offers superior customer support, 24 hours a day during market hours. For those who like the chat customer service option, live chat support is available 8 AM – 6 PM ET, Monday through Friday. They can also be contacted via social networks such as Twitter and Facebook.
TradeKing Forex and TradeKing are good choices in discount trading for both beginning and advanced traders. Their low prices and range of investment opportunities are attractive and its websites are user-friendly. The bonuses are attractive and customer support is easily available.
Review info: TradeKing Forex
Review Date: 2015-10-20
Rating : 1
Reviewed By : Sara Patterson (Google+)