TradeKing and Zecco have announced that they are merging. I’m a current Zecco customer and how that the merger will lead to some improvements. I signed up for Zecco when they still had free trades which was a good deal for a small investor like myself. I have stayed with them just because I haven’t wanted to deal with the hassle of changing brokers and I don’t make a lot of trades so I can live with any of Zecco’s shortcomings.
TradeKing and Zecco both offer low fees so I don’t think the fee structure will change. The current fees are fairly reasonable. Apparently, TradeKing has more trading tools available, but I don’t think that will affect me much because I likely won’t use them. It isn’t clear what trading platform they will use,but from what I have read TradeKing seems to have the superior trading platorm. Zecco has had some customer service issues, hopefully those will improve after the merger.
There is a FAQ about the merger, but it doesn’t have a lot of details. The merger is supposed to be complete in a couple months or so. I will wait and see how the merger affects me before making any decisions about changing brokers. Since I really don’t want to bother with changing brokers things would have to be pretty bad after the merger for me to switch. I’m thinking the merger will be an improvement though. What do you think?