On Wednesday we posted on an error that we found at TradeKing’s website, the year they had listed for their quoted prices was 2006, not 2007. And, it seems we got their direct attention as they have since corrected the error, Mike from TradeKing wrote to us the following:
“You are correct – the date that was listed in the disclosure was from 2006. TradeKing had inadvertently missed updating the ‘as of date’ for the information as the page was updated; an error on our part. Your post made us want to make sure the information we were presenting was correct. As it turns out, one of our competitors did lower their per-contract charge on an options trade in the past few days, which we have since updated to ensure accuracy. However, if you look at the graphic you posted, you will see the margin rates are presently correct and have been updated when appropriate throughout the year.
TradeKing strives to be straightforward and honest with everyone. In no way was this an attempt at ‘tomfoolery’; simply an oversight when updating the page. We are a bit embarrassed that the ‘as of date’ was not kept updated when the numbers changed, so kudos for catching our error!”
Kudos back at TradeKing for being on top of things and making the changes.