FORT LAUDERDALE, Fla. &. SAN FRANCISCO–(BUSINESS WIRE)–TradeKing and Zecco, the industry’s first two socially-enabled online
brokerages, announced today they've agreed to merge their businesses.
This merger creates a compelling alternative in the marketplace for
independent investors, one with scale and resources to compete. With
the mission to challenge traditional offerings and client experiences to
deliver outstanding value for online investors. Financial terms of the
merger weren't disclosed.
“TradeKing and Zecco share a similar mission, applying pressure on the
industry to give the individual investor a far better trading experience
and a far greater value,” said Don Montanaro, CEO of TradeKing. “By
merging, we've an opportunity to ratchet up our ability to influence
the direction of the online brokerage industry. We believe this is great
news for clients of both firms and investors as a whole.”
The new merged firm would've a combined client base of approximately
500,000 accounts with several billion dollars in client assets.
Commenting on the agreement, Michael Raneri, CEO of Zecco, said, “We
believe the market is ready for a new player that doesn’t sound, act or
think like all the other firms. With the size and resources to go
head-to-head with the major players. We're now positioned to be the
challenger brand we believe investors are seeking.”
Watch video message from both CEOs: http://youtu.be/KlgBj6-_nEI
Why Is this Good for Clients? More Capabilities at the Same Low
For clients of both firms, the merger will offer them all the
capabilities they already enjoy, plus much more. After the merger,
clients will enjoy a high-performing trading platform with the best
tools and social community features from both firms at the same current
low price offered by each of $4.95/trade. In addition, TradeKing clients
will gain access to great Zecco capabilities such as forex trading and
highly-rated mobile trading apps for both iPhone and Android. Zecco
clients will gain access to TradeKing’s top-ranked options trading
tools, comprehensive educational offerings and award-winning customer
Additional information can be found on the TradeKing website at www.tradeking.com/merger
and the Zecco Website in the Zecco CEO Blog http://ceoblog.zecco.com/2012/05/doubling-up-zecco-and-tradeking-are-merging
and Zecco and TradeKing Merger FAQs https://www.zecco.com/c/zecco-tradeking-merger-questions.aspx.
A History of Innovation
Since the firms’ inceptions (TradeKing in December of 2005 and Zecco in
July of 2006), both brands have stood for delivering low prices, great
transparency, powerful social integration and leading-edge innovation,
while, above all, putting the customer first. Their combined industry
In 2005, introduced flat pricing under $5/trade with no account
minimums or hidden fees
First to integrate social networking technologies in the online
First brokerage firm CEOs to blog
First to let clients publicly share verified trades in a social
First to let clients place stock trades from Facebook
First to let clients place stock trades from anywhere on the Web
Ranked #1 in customer service for three years in a row in SmartMoney
magazine’s broker rankings (2010, 2011, 2012)
Who Were the Advisors?
Cooley LLP served as legal advisor to TradeKing. Raymond James Financial
served as M&A advisor and Pillsbury Winthrop Shaw Pittman LLP aslegal
advisor to Zecco.
TradeKing (www.tradeking.com) is
a nationally licensed online stock and options broker offering simple,
low cost online trading fees.1 A pioneer in integrating new
financial social media as part of its innovative online equities,
options trading and fixed-income trading platform, TradeKing has
received multiple discount broker awards from top industry sources and
was rated best in customer service by SmartMoney2
Magazine for the third consecutive year. (June 2012 SmartMoney
Zecco is an online brokerage site for stock, options. Forex traders.
Zecco Trading is an online stock brokerage that offers low cost stock
trades and low cost options trades3. With low commission
rates, tons of free research and tools. Spectacular customer
service, Zecco is quite possibly the best value in stock and options
trading. Learn more about Zecco at www.zecco.com.
Options involve risk and aren't suitable for all investors. For more
information, please review the Characteristics
and Risks of Standard Options brochure before you begin
trading options. Options investors may lose the entire amount of their
investment in a relatively short period of time.
TradeKing and Zecco provide self-directed investors with discount
brokerage services through their FINRA-registered subsidiaries. Do
not make recommendations or offer investment, financial, legal or tax
advice. The content of this press release is provided for educational
and informational purposes only, doesn't constitute a recommendation to
enter in any of the securities transactions or to engage in any of the
investment strategies presented herein. doesn't represent the
opinions of TradeKing, Zecco or their employees.
Online trading has inherent risks due to system response and access
times that vary due to market conditions, system performance and other
factors. An investor should understand these and additional risks before
(1) $4.95 for equity and option trades, add 65 cents per
option contract. TradeKing charges an additional $0.35 per contract on
certain index products where the exchange charges fees. TradeKing adds
$0.01 per share on the entire order for stocks priced less than $2.00.
See our Commissions + Fees page at www.tradeking.com/fees
for details on commissions on low-priced stocks, option spreads.
(2) TradeKing was ranked #1 in Customer Service in the SmartMoney
June 2011 Broker Survey based on the following categories: Commissions
and Fees, Mutual Funds &. Investment Products, Banking Services, Trading
Tools, Research. Customer Service. SmartMoney is a registered
trademark of SmartMoney, a joint publishing venture between Dow Jones &.
Company, Inc. and Hearst Partnership. Supporting documentation for any
claims, comparison, statistics. Other technical data, will be
supplied upon request by calling 877-495-5464 or via email at email@example.com.
(3) Zecco Trading is an online stock brokerage that offers low
cost stock trades and options
trades. We're a discount stock broker and charge only $4.95
per online stock or ETF trade – 30 to 50% less than other top brokerage
firms. Options trades are only $4.95 each plus $0.65 per contract. For
more details, margin rates, online commissions for stocks and ETFs
priced under $1 and other charges, please visit pricing
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Sue Parente, 781-642-7788