However, all that being said, I do have one problem with TradeKing, and that is their policy for corporate accounts. I am an investor in an investment club, which was the account started in 2008 with Tradeking. In 2010 they changed their fee structure in a manner that was not beneficial to my club, or companies in general. They charge a $250 account opening fee, $200 dollar a year account fee, and a $50 a year charge for your 1099. As such, we moved our club’s assets to Schwab, where those costs aren’t an issue.

Without a doubt, multiple contracts are the way to go, but like you said, that takes a pretty sizable chunk of change.

And thanks for the compliment and follow!

Another way to reduce costs is to do multiple contracts. You can save a lot on fees. Then again that takes a lot of money.

Nice blog btw! Bookmarked you

As far as switching accounts, it isn’t difficult to do an asset transfer at all. Simply open the account, fill out the transfer form, and boom, all your holdings, less fractional shares which will get sold, will be transferred. Not to mention, TradeKing reimburses you up to $150 of your transfer fees, so it should be a cost free process. I just went through this myself and had zero issues with it. Let me know if you want me to send you a referral email, or if you want to just check it out on your own. I first used TradeKing back in 2008 when I started an investment club, and only left when it was difficult to maintain that account there (issues specific to partnership accounts). I had no hesitation in going back to them for an individual account.

I should look into Trade King, I don’t know much about them. I currently use E*Trade for options and I agree they are expensive and that’s one reason I am trying to get higher premiums this year. I am still trying to negotiate fees with them lower. The only problem is the majority of my portfolio is at E*Trade so I would still have to sell covered calls there. i would save a lot from selling puts though.