Move Zecco Account to TradeKing and Combine Two TradeKing Accounts
Early this year, two popular online discount stock brokers, Zecco and TradeKing, announced that they are merging their businesses together. For a while, I still had to log in separately to my Zecco and TradeKing accounts to perform any transaction or management of the accounts. Early on I asked TradeKing the possibility of combining the two accounts together and I was told to wait until the integration process is finished.
Now it seems that the integration is completed and I am finally able to get rid of the Zecco account. However, it turns out combining the two accounts is actually a two-step process that can’t be completed entirely online. If you, like me, also have separate Zecco and TradeKing account and want to combine them together, you will first need to move your Zecco account to TradeKing, which can be done online, then submit a paper work to merge the two accounts. Here’s how exactly you will do it.
First, go to Zecco, where you have your old Zecco account, and upon arrival, you will be greeted by a welcome screen which will guide you through the migration process.
There are four things you need to do in order to move the account to TradeKing
- Log into your Zecco account
- Create a new password for the new TradeKing account
- Create new security questions
- Consent on some subscription agreements (basically attest that you are using the services as non-professional trader)
After that, the migration is done and you can log into your new TradeKing account. Of course, if you already have a TradeKing account like I do, then you have two now. To make things easier, and I don’t see any reason of having two separate accounts with the same broker, you can submit a form to transfer assets from one TradeKing account to another. The form is called Journal Request, which you can download here. Fill out the form and submit it to TradeKing (if it’s a join account, then both account holders will have to sign), either via fax or scan and email.
According to TradeKing, the transfer of assets will take 1 to 3 business days. You can choose either move the full account, which I did, or part of it and you don’t have to liquidate your account for the transfer.
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