I’m considering opening up a new brokerage account to try out some options trading and so I’ve been looking around at various choices.  If you’re also considering opening a new low-cost brokerage account you should note that TradeKing’s $50 sign-up bonus is set to expire this coming Sunday, November 30th.

The $50 bonus is given if you open a new non-retirement account and fund it with at least $2,500 within 30 days.  You’ll then have to make at least one trade within the next 180 days.  Finally, you’ll need to keep a minimum account balance of $2,500 for the first six months, not including losses from trading, or else the $50 bonus may be reclaimed.

Why use TradeKing?  Well, the biggest draw is probably their low transaction costs.  When you invest with TradeKing, you’ll pay just $4.95 per trade plus 65 cents per option contract. Period.   TradeKing claims to save you 56% on equity trades vs. it’s competitors like TD Ameritrade, E-Trade, Scottrade, and OptionsXpress.