TradeKing

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TradeKing
Private subsidiary
Industry Financial Services
Founded December 2005 (2005-12)
Headquarters Fort Lauderdale, Florida, U.S.
Key people
Donato A. Montanaro, CEO
Richard J. Hagen, Jr. President & COO
Thomas A. Desmond, Chief Financial Officer
Products Stocks, options, ETFs, bonds, mutual funds, forex, financial advising services, online brokerage, IRA accounts, investment services
Parent Ally Financial
Website www.tradeking.com

TradeKing, a wholly owned subsidiary of Ally Financial, is a discount online brokerage firm, providing online trading tools for self-directed investors to buy and sell stocks, options, bonds and mutual funds via electronic trading platforms or by phone. TradeKing was founded in 2005 and has offices in Fort Lauderdale, Florida and subsidiary offices in Charlotte, North Carolina.

History[edit]

The company was launched in December 2005 offering online brokerage services for active stock and option traders. The firm was an early user of social networking for investors and traders, offering free blog support and other Web 2.0-based tools to registered members and account holders since the firm’s inception.[1][2][3]

In July 2007, TradeKing released the Options Playbook,[4][5][6] a primer for options trading explaining common options trading strategies (or “plays”) in jargon-free terms.

On May 15, 2012, TradeKing and Zecco.com, announced they had agreed to merge their businesses.[7]

On June 30, 2014, TradeKing announced the formation of TradeKing Advisors, an online advisor that creates a fully diversified portfolio and handles periodic re-balancing automatically.[8]

On April 5, 2016, Ally Financial announced they had agreed to acquire TradeKing.[9]

Competitors[edit]

TradeKing has numerous competitors, including:[10]

See also[edit]

References[edit]

  1. ^ “MySpace for Traders”, Business Week, September 10, 2007.
  2. ^ "Cyber Traders Turn to Blogging", August 21, 2007, Reuters video.
  3. ^ “Investors share tips, track records online, July 12, 2007, USA Today.
  4. ^ Characteristics and Risks of Standardized Options, NYSE Alternext US LLC et al., 1994 (updated 2008).
  5. ^ Matt Krantz, “Better Know Your Option Options”, USA Today, November 16, 2007.
  6. ^ Jeffrey M. Laderman, “A Playbook for Traders”, Business Week, November 5, 2007.
  7. ^ http://tradeking.mediaroom.com/index.php?s=30774&item=128467
  8. ^ "TradeKing Introduces TradeKing Advisors, Aims to Create New Value Leader in Online Advisory | Business Wire". www.businesswire.com. Retrieved 2016-04-23. 
  9. ^ "Ally Financial Announces Acquisition of TradeKing Group - Apr 5, 2016 | Ally Financial". media.ally.com. Retrieved 2016-04-23. 
  10. ^ "FINRA Member Firms: List of Members", Financial Industry Regulatory Authority, Inc. May 11, 2013. Accessed May 11, 2013.

External links[edit]