Bible Money Matters

Christian personal finance

Menu
    • About
    • Archives
    • Contact
    • Close
  • Making Money
      • Popular Articles

        • 50 Ways To Make Money: Maximizing, Creating And Increasing Your Income
        • 10 Weird And Unconventional Ways To Make Money
        • Making Money With A Blog (e-Book)
        • 10 Places To Sell Or Trade Your Unused (Or Broken) Electronics
        • Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
        • Making Side Income Can Help Blunt The Impact Of Becoming A One Income Family
        • Earn Cash Back With Discover it® Credit Card
      • Recent Articles – Making Money

        • Best Sites Like Fiverr To Make Money As A Freelancer
        • 13 Of The Best Independent Contractor Jobs
        • 25 Of The Best Gig Economy Jobs
        • How To Make Money Blogging: Turn A Blog Into A Business
      • Categories

        • Making Money
        • Investing
        • Retirement
        • Jobs & Work LIfe
        • Money
        • Income
    • Close
  • Saving Money
      • Popular Articles

        • 50 Easy Ways To Save Money Every Month
        • 10 Weird And Unconventional Ways To Save Money
        • 10 Practical Ways To Save Money And Increase Your Net Worth
        • How To Save Money On Just About All Of Your Regular Monthly Bills
        • Ways To Watch TV Without Paying An Arm And A Leg For Cable TV
        • Save Money On Your Hospital Bill - Just By Asking
      • Recent Articles – Saving Money

        • How To Save $100k In 7 Practical Steps
        • Stairs App Review: Save And Invest To Earn 4-6% Interest
        • Honey Review: Save Money Automatically When You Shop Online
        • 9 Convincing Reasons Why You Need An Emergency Fund
      • Categories

        • Saving Money
        • Frugality
        • Planning
        • Finance
        • Saving For Retirement
        • Savings Accounts
    • Close
  • Banking
      • Best Rates For 2019

        • Best Credit Cards
        • Best Savings Accounts
        • Best Mortgage Rates
        • Best CD Rates
        • Best Brokerages
        • Free Credit Scores
      • Recent Reviews

        • TradeStation Review: Commission Free Stock And ETF Trades
        • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
        • Cadre Real Estate Investing Review: Commercial Real Estate Investing
        • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
      • Categories

        • Bank & Software Reviews
        • Investing
        • Credit
        • Banking
        • Mortgage
        • Insurance
        • Family Budget
    • Close
  • Recommended
  • Video
    • Close

Details Of The TradeKing And Zecco Merger And How It May Affect You

By Peter Anderson Leave a Comment - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited February 5, 2013.

Share5
Pin
Tweet13
Share1
19 Shares

It was announced back in May that TradeKing and Zecco would be merging, pending regulatory approval.  At the time it wasn’t 100% clear what form the merger would be taking, what the name of the merged company would be, or how the websites, tools and products of the two companies would be changing once they merged.

Now that the companies are actually in the process of merging they have began to put more details out there about just how things will be changing.

Today I thought I’d talk a bit more about the TradeKing Zecco merger, how it came about, and how things will be changing for existing customers of both companies.

Quick Navigation

  • TradeKing And Zecco Merge
  • TradeKing Redesigned
  • What Does It Mean For Existing Zecco & TradeKing Customers?
  • What Do Zecco Customers Have To Do To Move Their Account To TradeKing?
  • Conclusion

TradeKing And Zecco Merge

The history behind the mergers of TradeKing and Zecco is actually quite interesting. Apparently the CEOs have been friends since middle school. From Barron’s:

When they met in eighth grade, in the principal’s office, Don Montanaro and Michael Raneri didn’t know they’d be friends for decades, much less business partners. The latter part came true on May 15, when their online brokerages, TradeKing and Zecco, agreed to merge.. The newly merged firm would have a combined client base of approximately 500,000 accounts with several billion dollars in client assets…

The plan is to unify the two entities under one brand and put the resulting firm on a single, best-of-both-worlds platform… The two firms already share a price point—both charge a low $4.95 commission on stock trades. Aside from low prices and social networking, TradeKing has focused on options and has a pretty rich educational site.

Montanaro, the co-founder and CEO of Florida-based TradeKing, was introduced to Raneri, now San Francisco-based Zecco’s CEO, by their middle-school principal shortly after Montanaro’s family moved to Connecticut. (No, they didn’t get in trouble together.) “We were best buddies all through high school, and Mike was my intro into Quick & Reilly after I finished law school,” Montanaro recalls. Quick & Reilly was an early discount broker and branched into online trading in the mid-1990s. “Mike had a 10-year run at Schwab after Q&R, so we’ve been colleagues and competitors for years. Now we’re partners at the right time to really be winners in this space.”

The two CEOs and their respective companies agreed to merge at this time in part because they wanted to “stop being distracted by one another”, and make a move at competing with what they call the “big five” online brokers, Schwab, Fidelity, E*Trade, TD Ameritrade and Scottrade.

While some folks are skeptical that they can compete with those bigger companies, at least not right away, most seem to think that merging does give them a better chance at making a push at competing with them. The two companies are very similar in many respects, including in being known as great places to do low cost investing.

The two companies will keep the TradeKing name, while the logo will be redesigned to incorporate the “candlesticks” portion of the Zecco logo.

TradeKing Redesigned

As part of the merger process TradeKing has redesigned their entire website, not just their logo.  Among the things that have been revamped as part of the merger:

  • Site navigation: They’ve rebuilt the navigation bar based on customer feedback, to make it much easier to get to what you need quickly.
  • New alerts center:  You can now stay on top of big market moves via e-mail, SMS, or mobile apps with special triggers you define.  Similar to a tool that Zecco had previously.
  • Upgraded stock, ETF and mutual fund screener:  You’ll now have an updated tool to screen stocks, ETFs and mutual funds based on your trading style.
  • Enhanced charts:  There is a new and easier to use charting interface that will give access to more events, expanded indicators, and storable settings.
  • New research tools
  • New mobile apps: Zecco was known to have one of the best mobile apps out there, and now TradeKing will be launching newer/better apps as part of the merger. Trade stocks, options, and mutual funds, wherever you are.

 

 

tradeking mobile apps

 

What Does It Mean For Existing Zecco & TradeKing Customers?

So what are the ramifications of the merger for existing customers of both companies?  As of now the companies don’t foresee too many changes that will affect customers in a negative way, the main changes will be in the branding of the new merged company, as well as in Zecco customers having to get used to the new TradeKing interface once they’ve switched over. Pricing will be remaining the same for both companies at $4.95 per stock or options trade plus, $0.65 per options contract, same as before. Account numbers and sign-in information will not change, but the sign-in process may be changing a bit after TradeKing received feedback lamenting the sign in process of the old site.

As mentioned above, customers of both companies will have access to the new redesigned and improved TradeKing site and mobile apps.

What Do Zecco Customers Have To Do To Move Their Account To TradeKing?

So now that TradeKing and Zecco are merging operations, what do existing Zecco customers have to do to move their accounts over to TradeKing?  It shouldn’t be too much of a bother. From the TradeKing site, here’s all you have to do.

  • Go to Zecco.com
  • Sign in with your Zecco username and password and follow the on-screen prompts to move accounts over to TradeKing.
  • That’s It! Now, you can access your account at TradeKing.com.

So basically it’s just a matter of signing in with your old Zecco user/pass, and then following the prompts. Piece of cake.

You won’t have to re-establish ACH relationships with the new accounts either since both companies used the same provider.

Conclusion

From the sound of it the merger should be a good thing for most customers.  Pricing will be about the same as it was before, and the two companies will be bringing in some of the best tools from both companies and making them available to all the customers of the newly merged TradeKing Group, Inc.

If you were thinking about signing up for TradeKing or Zecco previously, with news of the merger their offerings probably just got even better as they now have more and better tools at the same low cost.  Definitely worth checking out.

Sign Up For An Account With TradeKing

  • Full TradeKing Review


trade king

Related Posts

  • TradeKing Review: Discount Online Brokerage

    Over the past few years TradeKing has become one of the most awarded discount online brokerages because of their great customer service and low fees.…

  • Nuru Personal Finance Flash Cards: Review and Giveaway

    Review and Giveaway A week or two back after finding my site, Luke over nuruplanet.com emailed me and offered to send me a packet of…

  • TradeKing Review: Discount Online Brokerage

    Over the past few years TradeKing has become one of the most awarded discount online brokerages because of their great customer service and low fees.…

Share5
Pin
Tweet13
Share1
19 Shares
Last Edited: 5th February 2013 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Investing, Review

About Peter Anderson

Peter Anderson is a Christian, husband to his beautiful wife Maria, and father to his 2 children. He loves reading and writing about personal finance, and also enjoys a good board game every now and again. You can find out more about him on the about page. Don't forget to say hi on Pinterest, Twitter or Facebook!

Share Your Thoughts: Cancel reply

Previous Post: Credit Sesame Now Offers Free Credit Monitoring Along With A Free Credit Score
Next Post: Christmas Can Quickly Become A Celebration Of Things Rather Than Faith And Family
Discover Investment Platforms

Popular Posts

  • 21 Easy Ways To Earn Free Amazon Gift Cards
  • 10 Best Free Tax Filing Services And Software Online
  • 21 Apps That Pay You Real Money Fast
  • 17 TV Apps And Live TV Streaming Services To Watch TV Free
  • 30 Legit Online Jobs That Pay Well
  • 37 Easy Ways To Get Free Gift Cards
  • How To Get Free Stock
  • 40 Easy Ways To Get Free Money Fast
  • 21 Places To Read Free Books Online
  • 24 Legit Online Jobs
  • 17 Best Work From Home Jobs: A List Of Legit Online Jobs That Pay Well

Recent Posts

  • How To Save $100k In 7 Practical Steps
  • How to Save Money When Remodeling A Home
  • How To Hire A Contractor For Your Remodeling Project
  • Remembering 9/11 Years Later: Where Were You On That Fateful Day?
  • TradeStation Review: Commission Free Stock And ETF Trades
  • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
  • Cadre Real Estate Investing Review: Commercial Real Estate Investing
  • Best Sites Like Fiverr To Make Money As A Freelancer
  • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
  • 30 Quotes About Easter And Resurrection: He Is Risen!

Disclaimer

The information contained in BibleMoneyMatters.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation.

In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.

Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.

We respect your privacy: Privacy Policy.

Thanks for visiting!

Bible Money Matters - Seen On These Sites and more..
Bible Money Matters is a personal finance, entrepreneurship and investing community. Give more, save more and live more.

Copyright © 2023 · Bible Money Matters | Sitemap | Advertise | Privacy Policy