Lending Club Blog

Wall Street Goes Web 2.0

Does anyone still call their stock broker? A number of new start-ups hope you’ll turn to their online communities instead of picking up that phone. And even with the turmoil on Wall Street, financial start-ups are growing like weeds, though many Americans’ portfolios are not.

From free trades to social lending, these companies are changing the way we interact with Wall Street and our portfolios. Who would you rather trust: an online investment community or your stock broker?

Investment Web 2.0 Style


Covestor – Do you ever dream of running a hedge fund? Covestor gives you the investment opportunity of becoming a money manager right from your bedroom. From their website, Covestor is:

“A real-trade sharing service for proven self-investors. To share your real investment decisions, gain recognition and earn fees by helping others.”

Only active traders are allowed to earn fees, and there are some obvious legal questions regarding giving stock advice. But if you’re hot stuff and can prove it with your trades, you should start building up a following at Covestor now.


The UpDown – Similar to Covestor, The UpDown allows you to compare your investment performance to the community and get paid for it. At UpDown however, your portfolio is play money. Perform well, and you can earn real money. My portfolio was up 7.95% in February. I made $1.37 in real money for my play performance. It’s a bit like Fantasy Football for investors.


Too bad that million dollar portfolio wasn’t real! UpDown’s trade platform feels and acts very real, and it’s addictive. If you think you’re a great trader, strut your stuff on UpDown and play without the risk. You start with $1,000,000 cash.


Zecco – Zecco launched last year with the offer of “free trades” for all. That promise has since been scaled back to 10 free trades a month provided you have $2,500 to deposit. While I’ve heard rumbles of customer service issues, if you’re an options trader, a $4.50 base is pretty cheap. Once I can scratch together $2,500, I’ll be opening an account here to try out.


Their social angle is called “ZeccoShare.” Here, Zecco clients can share their investment portfolios as well as see top holdings across the community. Not as advanced as Covestor or Cake, but Zecco is the all-in-one deal: brokerage and community.

How will Web 2.0 change Wall Street?

Will Web 2.0 and social networking communities change Wall Street? Has it already? Share your thoughts with your fellow Lending Club blog readers!

Tuesday, March 25th, 2008 at 1:24 pm

Comments (2)

  1. Roger Steciak:

    Check out marketocracy.com to run your own virtual portfolio and
    find out what strategies work best for you before you invest any
    money. There are also online clubs you can join to discuss your
    ideas with other investors.

    March 26th, 2008 at 1:52 pm

  2. Hey, glad you like Zecco! Keep checking back for the improvements
    we’re making every month. Tony (Zecco Product Manager)

    March 29th, 2008 at 10:15 am


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

Lending Club Reaches $16 Billion

Lending Club’s facilitated more than $16 billion in loans… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

New Infographic on Small Business Financing

Check out our latest infographic on the state of… Read More »
December 17, 2015

More Data Coming for Investors

We’re always seeking feedback and looking to make the… Read More »
November 10, 2015

Lending Club Surpasses $13 Billion

Check out our updated infographic to see what a… Read More »
October 29, 2015

Lending Club Launches Multi-Draw Line of Credit for Small Businesses

We’re excited to announce the… Read More »
October 16, 2015

Bloomberg Markets Names Renaud Laplanche on its 2015 “Most Influential” List

Read More »
October 6, 2015

Congratulations, Carrie! Named 2015 Financial Woman of the Year by The Financial Women of San Francisco

Read More »
October 5, 2015

Congratulations to Carrie Dolan – Named one of American Banker’s 2015 Most Powerful Women in Finance

Read More »
September 22, 2015

Welcome Nebraska, Kansas, and Indiana Investors!

We recently welcomed residents of Nebraska, Kansas, and Indiana… Read More »
September 21, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w