What is Zingeroo?
Zingeroo is an online trading platform that allows users to participate in challenges and competitions similar to daily fantasy sports.
What is Zingeroo?
Zingeroo, Inc. (Zingeroo) is an online trading platform that gives users the ability to both buy and sell stocks and other securities. It offers stocks, ETFs, crypto, and options trading on over 5000 tickers.
Zingeroo is unique in the fintech space in that in addition to allowing its users to buy and trade a full portfolio of stocks and options, it also offers the ability to leverage a portfolio through competitive investing.
Through a series of features on the app, Zingeroo users can take part in leaderboard challenges and private and public competitions called “Zones.” Zones allow users to take part in contests that are very similar in setup to the ones you might find on most daily fantasy sports sites, such as DraftKings or FanDuel.
However, instead of performance being measured by player stats or production, users are instead ranked based on the overall success of their portfolio.
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In addition, Zingeroo has social and educational components that can help users with their investments and make it easy to interact with friends or other users.
The site currently offers no commission on securities trades and allows users to purchase stocks, cryptocurrency, and some put/call options.
Zingeroo, Inc. basics:
- Investing app that allows for portfolio management in stocks, ETFs, cryptocurrency, and options trading. No commission trades on securities.
- Competitive investing component whereby users can leverage part or all of their portfolio—or add to their existing portfolio—by competing in DFS-style investing competitions.
- Also features a major social component in Bullpens whereby users can create or enter private groups to chat, compete, and share investing strategies.
How do you compete on Zingeroo?
Zingeroo differentiates itself from other trading apps like Robinhood through its competitive trading features. Once on Zingeroo, users have the ability to join a variety of different competitive features within the app.
The first step to joining a competition on Zingeroo is joining a Zone. Zones are set up specifically to allow users the ability to compete against other traders and investors.
Once entered into a Zone, a user's performance will be tracked by taking the weighted average performance of the entrant's portfolio and measuring it against other participants.
Each Zone then has a leaderboard by which you can track your overall performance. Leaderboards offer the user the ability to track investments against other traders and see how they stack up against the competition.
A couple of quick notes about Zones:
- A user's performance within a Zone may differ from their actual portfolio performance. That’s because Zones have specific start and end dates, and also because some Zones may only include a portion of a participant’s entire brokerage account portfolio.
- Zone entries are updated as you trade. However, entering a Zone does not affect your ability to access your brokerage account or engage in other trading activity.
- You can still manage your regular portfolio when entered into a Zone.
How do I enter a Zone on Zingeroo?
The app on Zingeroo has a Zone icon. Once you tap on it, you’ll be able to see the list of new Zones available to enter.
After clicking on a Zone, all you have to do is review the rules that apply to that Zone and follow the instructions to select your positions.
Again, much like traditional DFS contests, all Zones have specific start and end dates, so you must join a Zone by the listed start date and time to be officially entered.
As we can see above, Zones on Zingeroo are labeled on the app by type and entry fee and also come with a start and end date.
This allows users to scroll through the app and browse the different types of options available before submitting an entry into a specific Zone.
What kinds of Zones are available on Zingeroo?
Much like a traditional sports-based DFS site, Zingeroo offers a wide selection of gameplay through its Zones. Zones differ in size (private vs. public), entry (free vs. paid), and style (Portfolio, Pick'em, or Vertical).
Portfolio Zones
Portfolio Zones are likely the easiest and most intuitive Zones to enter on Zingeroo.
In a Portfolio Zone, all of your current positions are automatically entered and used to determine your rank on the leaderboard. The weighted average of your entire portfolio (from the start of the Zone date to the end of the Zone date) translates to your rank in the Zone.
In terms of restrictions, a Portfolio Zone means all of your buys and sells within the Zone period will count toward your standing. Since your entire portfolio is being entered, every move you make within the Zone period gets counted.
Pick'em Zones
Pick'em Zones are slightly more nuanced, although still very easy to navigate.
In a Pick'em Zone, users are asked to select a certain number of positions (e.g., 1, 3, or 5) to pit against other users. A position in a Pick'em Zone can be filled with a call, put, or securities position.
Whereas your entire portfolio is automatically entered for you in a Portfolio Zone, in a Pick'em Zone, users must make their own selections. Pick’em Zones will also all have a specific number of allowable positions (e.g. 1, 3, 5, etc).
Once a user enters a Pick'em Zone, they are locked into those tickers. While you can trade and change the size of your position at any time, you can’t sell off shares and then add shares of another ticker in its place.
Example:
- You enter a Pick’em Zone with 200 common shares of TSLA, DIS, and COST
- You sell off all 200 shares of DIS
- You can repurchase shares of DIS at any point in the Zone and have them count toward your overall performance
- You can't purchase shares of another ticker to replace your previous shares of DIS in the competition
Other than having a set number of positions—and having users choose which specific positions to enter in the Zone—Pick’em Zones operate with the same principles as Portfolio Zones.
Pick’em Zones still have specific start and end times and use the weighted average of all positions entered to determine your standing on the leaderboard.
Vertical Zones
Vertical Zones take things a step further by limiting users to only stocks or options positions within a specific sector.
For example, if you were entering a Zone based around the tech sector, you would be limited to using only the positions in your portfolio from that section of the stock market.
Just like the other Zones, Vertical Zones allow you to compete based on securities positions in your brokerage account.
Once the Zone starts, only securities positions in your portfolio related to the relevant sector will be counted toward your performance in the Zone.
For example:
- If you enter a Vertical Zone based around the energy sector and have three tickers that fall under that section of the stock market, then those would be the only three positions that count for your entry in that specific Vertical Zone.
Are Zones free to enter?
Zingeroo has both free-to-enter and paid Zones. Free-to-enter Zones are referred to as Standard Zones, and paid Zones are referred to as Premium Zones.
How do Premium Zones work on Zingeroo?
Paid Zones are referred to as Premium Zones and have specific entry fees, which are used to fund awards for the top performers within the Zone.
Paying to enter a Premium Zone and competing for prizes is similar in nature to entering a daily fantasy contest for football or any other major sport.
A specific prize pool is attached to the Premium Zone, and a payout structure with different payouts for the top finishers.
Each Premium Zone has a description that will provide the exact reward, entry fee, and distribution details.
These details may differ from Zone to Zone. Additionally, there are different levels of applicable fees associated with different Premium Zones. Currently, the levels offered on Zingeroo are as follows:
- $4.99
- $10.99
- $21.99
- $32.99
Premium Zones also have a minimum and maximum number of participants allowed. When the maximum number is reached (and all users have paid), no new users will be allowed to enter the Zone.
Conversely, the Premium Zone will be canceled if the minimum number of paid participants is not reached before the cutoff window.
From time to time, Zingeroo has sponsored a Premium Zone, making it free to play for all users.
What can you win in Premium Zones on Zingeroo?
Zingeroo isn’t able to provide direct payouts due to restrictions from the SEC.
They manage to bypass this regulation in their contests by paying out users in sweepstake entries to a drawing for the prizes associated with the contest.
As such, your final position on the leaderboard will determine the number of sweepstake entries you receive. This is an important feature of the Premium Zones, as it means that even if you win, you will not receive direct awards upon winning.
However, winners do receive a higher number of sweepstakes entries than anyone else in the competition, which gives them a great shot at winning one of the top awards.
After the Premium Zone ends, Zingeroo distributes the entries and then conducts a drawing to select who receives each award.
The below example is taken directly from the rules and regulations section of Zingeroo’s website as to how prizes are handled.
While it would obviously be a better overall experience for users if Zingeroo could pay out awards and prizes directly, the sweepstake entries do achieve much the same result.
In the future, it would not be shocking to see Zingeroo perhaps come up with a more solid workaround or a way to distribute prizes directly to users.
How do Standard Zones work on Zingeroo?
Standard Zones operate in the same manner as Premium Zones but don’t have an entry fee attached.
Standard Zones are free to enter but don’t have the same prizes or awards that the Premium Zones do.
In a Standard Zone, you compete against other users in the Zone, with the top-performing users getting a spot at the top of the leaderboard.
What is a Bullpen on Zingeroo?
Bullpens are chat communities created within the Zingeroo app that allow you to interact, connect, and even compete directly against other members of the community.
Within a Bullpen, you can chat with whoever else is part of the group. To become a member of a Bullpen, you either need to start the Bullpen yourself (and invite other members) or be invited and accept the invitation.
Once inside, Zingeroo’s app provides plenty of different opportunities to interact, one of which involves revealing your actual position in a holding to the chat group.
One other feature unique to Bullpens is that once created, Bullpen members can create their own private Bullpen Zone, which pits Bullpen members against each other in competition. Zingeroo allows for the creation of Premium or Standard Zones within a Bullpen.
When a Zone is created within a specific Bullpen, only the users within the Bullpen will be able to see the Zone and compete in it.
Ultimately, Bullpens may be the strongest feature on Zingeroo as they provide a solid way to share information about stocks and investments with a select group of people.
Users can also take that social connection a step further by adding a Bullpen Zone and creating a more competitive environment.
More information about Bullpens on Zingeroo can be found here.
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What can you trade on Zingeroo?
Zingeroo offers a full complement of trading and investing vehicles. That means users can buy and sell common shares of many regular stocks, but they also have the ability to add options and cryptocurrency to their portfolios.
Currently, Zingeroo offers stock and options trading on over 5,000 tickers.
They offer trading on common stock, ADRs, and ETFs. As of now, all of the equity and options must be traded on the following exchanges: BATS, NYSE, & NASDAQ.
Zingeroo does have limitations in terms of its overall offerings. Currently, Zingeroo does not support the following:
- Closed End Funds, Equity Warrants, ETN, PRF Perpetuals, Master Limited Partnerships, Ltd. Partnerships, REITs, Tracking Stock, Royalty Stocks, Unit Stock, and Convertibles (as classified by Bloomberg).
As Zingeroo grows and matures, it is likely it will expand its offerings.
It is also worth mentioning that on the Zingeroo Knowledge Base page, they suggest contacting them if a specific investment or offering is not on the app.
Can I short stocks on Zingeroo?
Zingeroo does not allow users to directly short stocks.
However, it does provide access to both put and call options, which can be used as a way to hedge long positions.
Can I buy fractional shares on Zingeroo?
Yes. Users on Zingeroo can purchase fractional shares.
Buying fractional shares on Zingeroo involves selecting the amount of money you want to invest in a stock (vs. putting in the number of total shares) in your order.
The app then adjusts based on your total spend to award you a specific number of fractional shares.
What are the order types available on Zingeroo?
As with most online brokerages, Zingeroo allows users to buy or sell using both market and limit orders.
Market orders are executed immediately and are filled at the best available price. If you are buying at the market and the lowest ask for a stock is set at $20, you will pay the “market price” and have your order filled at $20.
Limit orders occur when you set a specific price at which you are willing to buy or sell, and then must wait until another buyer or seller agrees to meet your price.
If you set your limit buy order at $19 and the current ask is at $20, you will have to wait until the price of the stock drops to have your order filled.
Zingeroo also allows you to set specific time periods for your limit trades, so you can leave your limit order open for as long or short a period as you desire.
When can you trade on Zingeroo?
Zingeroo operates trading for common stock and options during regular market hours: 9:30 AM–4 PM ET, Monday–Friday. Zingeroo observes all of the NYSE market holidays listed.
Crypto trading on select coins and tokens is always available on Zingeroo.
How does Zingeroo make money?
Like most online trading apps, Zingeroo does not charge commission for equity transactions. They do offer certain subscriptions for a monthly fee that give users access to more data and better pricing for options trading.
As of now, there are two tiers of subscriptions on Zingeroo:
- Ruby @ $2.99/month. Ruby gives you access to real-time options pricing and quant data in the Zingeroo app.
- Sapphire @ $8.99/month. Sapphire gives you all the features of Ruby in addition to commission-free options trading.
Zingeroo also makes money on interest on uninvested cash balances, payment for order flow, and fully paid security lending.
FAQs about Zingeroo
Is Zingeroo legit?
Yes. Zingeroo is a social and competitive investing app that allows users to buy and sell securities, perform crypto trading, and purchase put/call options.
The app has several additional social and competitive features that make them unique from other online trading platforms.
On Zingeroo, users can leverage their current portfolio to take part in Zones, which are competitions where top performers can win prizes.
Where can you download the app?
As of now, Zingeroo is only available on Apple through the iOS Apple app store.
The app currently has a 3.8/5 rating, although there are only 54 reviews and the majority of them are 5 stars.
Currently, a couple of 1-star ratings are what is holding down the app from being rated higher.
Who is the CEO of Zingeroo?
Zoë Barry is the founder and CEO of Zingeroo. The app represents her second venture-backed fintech startup. Barry is formerly of Dawson Capital and successfully raised over $42 million for her first startup, ZappRx, before the company was acquired in June 2019.
Barry was able to repeat her former success with Zingeroo, raising $8.5 million in startup funds. Barry stated in a 2021 interview that her ultimate goal with Zingeroo is one of “evening the financial playing field.”
“Hundreds of millions of Americans have sat on the sidelines while the stock market has generated tremendous wealth for a relatively small group of people. Our country, to flourish, needs a growing middle class, and we need to close the enormous wealth gap that’s growing greater by the year. To do this, to help people rise along the socioeconomic ladder, we need to get more Americans owning stock,” Barry said. “By making trading social and competitive, I think we can expand the market itself and make it accessible to countless new people who otherwise wouldn’t touch it.”
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