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TradeKing & Zecco Merging

Ryan at CashMoneyLife [3] sent me press release in which TradeKing and Zecco announced a merger [4]. I’ve long been a fan of TradeKing [5]. Zecco… not so much.

I have nothing against Zecco because I’ve never used them but their history of changing their fee structure has been a little disconcerting. In the beginning, they offered free trades, which seemed unbelievable and made me wonder if Zecco was a scam [6] (it wasn’t). Then they made it so that you needed a $25,000 balance in your account to get 10 free trades [7]. Then… they stopped their free trade program [8] entirely. They were moving further away from free trades and closer to a fee structure like TradeKing, but without TradeKing’s customer service record. Their weaker customer service marks are understandable, you can’t expect to get free trades and top notch service. You get what you pay for and with TradeKing you get great customer service at only $4.95 a trade.

I’m interested to see how the merger works out. Hopefully Zecco is merged into TradeKing and nothing changes about TradeKing.