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I recently signed up with Tradeking a Roth IRA account. During registration, I entered my home address DOB and SSN. I was ok with it. But then Tradeking started sending me emails (1) the first one says I need to send them a picture of Voided check and my drivers license for ACH transfer money from my checking account to TradeKing. I did that (2) Then the second email was requesting me to send a picture of my voter's registration so they can verify my home address. And I've sent that to them too (3) Now they're sending me a third email requesting picture of my Social Security Card and a US Government Issued Photo ID (the Photo ID which I have already sent).

Is opening an Roth IRA account this difficult? Do you have the same experience opening retirement accounts at other brokerage firms like TDAmeritrade, Scott Trade, or Vanguard? I feel Tradeking is being very unprofessional at handling this issue

  • A side note, TradeKing is also notorious for providing 1099s very late, often mid-March, which makes tax season extra fun. This shouldn't be an issue for you since you are opening a Roth IRA, but if you don't do a lot of trades you might ask yourself if the reduced commission is worth the poor customer service. – Craig W Apr 2 '13 at 15:35
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I have never been requested to send a voter registration card. What on earth for? It sounds as if you don't have a credit report available on your SSN, so they're having trouble verifying your identity. But the most I have ever been requested to send to an online bank (ING Direct in my case, and I too didn't have a credit report yet when I opened an account there) was the Social Security card and a driver's license.

Once you have a proper credit report information (a couple of loans and a couple of address changes), they can compile the data into a set of verification questions, which would be used to verify your identity.

If you do send stuff - make sure to fax it to their 800 fax number, do not send via email. It may also be that their user database is compromised and someone is phishing you. Make sure they're the ones asking for info (and getting it) by calling their phone number (take the number from their web-site, not the emails).

  • I beieve I do have credit report information, because I remember I checking with Equifax on my credit score and other credit related information, and Equifax didn't say my information was not found, it also had my home address when I checked – user133466 Apr 1 '13 at 19:35
  • Then I'd call them and ask what's up , or just open an account elsewhere. – littleadv Apr 1 '13 at 19:43
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    Voter Registration card? I an USian, and I've been voting since Regan, but don't recall ever having a card of this sort. If my polling place wants ID, it's my driver's license or passport I'd offer. – JoeTaxpayer Apr 1 '13 at 20:06
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    @Joe who's Regan? – littleadv Apr 1 '13 at 20:07
  • @Joe USian? Love it. – Alex B Apr 1 '13 at 22:09

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