Hi all,
We have updated the review section of Zecco, in addition to our award-winning ranking board. Reviews for other broker would follow.
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Zecco
Introduction
“Zecco stands for Zero Cost Commission and that’s exactly what this new online discount broker is trying to do with their innovative set up.”
“Zecco Trading has reconstructed the mold of trading online with traditional web brokerages, making it easier than ever for you to get smart and act smart with your money. Need to buy stock or sell stock, interested in penny stocks? With Zecco Trading, you get 10 free online stock trades each month with $2,500 or more. Otherwise, it’s only $4.50 per stock trade.”
What is Zecco?
“At Zecco.com, users are offered the groundbreaking financial social networking community ZeccoShare, as well as powerful market data and analysis tools. “
“Zecco Trading, Inc., member FINRA / SIPC, is a wholly owned subsidiary of Zecco Holdings, Inc. It is leading the free stock trading revolution. Zecco Trading offers brokerage customers with over $2,500 in assets 10 free stock trades per month. And for those with less than $2,500, stock trades are just $4.50 each. “
“So, think of Zecco as a full package upgrade to the typical online investing routine. All in one place, supercharged and ready to go on Zecco.com. “
Explore the ZeccoShare Community
“It all started with a complete re-think of the industry and a dedication to a streamlined business model that cuts out the unnecessary overhead and fat. Instead, we focused on beefing up the important stuff like market data, tools, news, opinions and insight. Then we really went to work and created ZeccoShare, harnessing the full power of the Internet to provide an array of user-matching capabilities. At ZeccoShare users can trade ideas and network with like-minded investors for an unparalleled investment experience. And the best part? It’s all free. “
Join the Free Stock Trading Revolution at Zecco Trading
“At the heart of our market-busting change lies our promise of zero dollar stock trading commissions, offered through Zecco Trading. That’s right. The price war is over. You won. All backed by industry leading back-end trading platforms. Through Zecco Trading you get superb customer service and the support of licensed brokers in our head office in sunny Pasadena, California, USA. “
“Looking forward, one shining beacon guides everything we do at Zecco: give people what they want and they will return; impress them enough and they will tell their friends about us, too. The profound consequence of this logic means we must continually work to prove our worth and seek out ways to grow and innovate our offering. “
“Zecco Trading Inc. is a fully disclosed broker/dealer and member of FINRA and SIPC. ZeccoShare is a service of Zecco Holdings, Inc. and is not a regulated product and is not a registered broker/dealer.”
Advantages of Zecco in our view
Low commission
“Please acquaint yourself with the fees you’ll encounter at Zecco Trading. Our prices are not introductory, nor are there any hidden fees after your account is established. By the way, Zecco Trading will credit an interest rate of 0.10% annually on cash balances held in all accounts. 0.10% paid monthly based on average monthly cash balance.
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Stock & ETF Transactions |
Trade Unlimited Shares |
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Online Market Orders |
Zero Commission |
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Online Limit Orders |
Zero Commission |
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Online ETF Orders |
Zero Commission |
You can make up to 10 trades a month at no cost with a $2,500 minimum account net equity balance, and after that you only have to pay a paltry $4.50 per stock trade.
Please keep in mind that only the first account of any account type is eligible for our Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program.”
Learn more about Zecco or Join Zecco Now!
Helpful reviews found on the internet:
“Zecco’s social networking aspect is pretty cool; members can interact with each other via ZeccoShare, a service that combines Web 2.0 fare like forums, blogs, and profiles with key investor information like most popular stock holdings and most traded stock holdings of investors who have opted to share their investment data. “ – http://moneysmartlife.com/zecco-review-free-online-stock-trading/
“Fee schedule. Let’s start off with Zecco’s most attractive feature – free trades. Zecco offers all customers 10 free equity trades (stock or ETFs) per month as long as they maintain a minimum balance of $2,500 or more in their Zecco Account. Additional equity trades cost $4.50 each. Options trades cost $4.50 per trade + $0.50 per contract and mutual fund trades cost $10 each. There are no account minimums or inactivity fess to worry about.” More information about Zecco’s fees (Learn more about Zecco ).
How can Zecco offer free trades? Zecco is able to offer free trades because they make money on normally priced trades, options contracts, premium services (see below), and interest on cash that waiting to be invested. They offer some of the lowest rates among major discount brokerages and they are still able to make money – sounds like a winning combination!
Transferring money. You can fund your Zecco account with a check, via a money transfer, or with an ACH transaction. The easiest and cheapest option is an ACH transaction, which is how I chose to fund my account. ACH transactions are free and can be scheduled in advance, so they are the most flexible option. Keep in mind that ACH transactions take a few days to go through. Zecco advertises 2-3 day ACH transactions, but my transfer took 4 days to go through. That’s not a deal breaker in my book, but it is something to keep in mind. Zecco may also place a hold on your transfer while they verify it has cleared. This is common among some brokerages, so keep this in mind when planning your transactions.
Investment research. Zecco provides investors free access to investment research from Standard and Poor’s and a variety of free tools such as an options calculator and options analytics. There are also premium services available for those who are willing to pay for them.
Zecco learning center. Zecco has a host of stock trading and research and analysis tools. However, quite a few of these research and analysis tools are only available for a monthly or annual fee.
Premium investing tools. If you are a day trader, you will want a tax planning tool to help you make the best decisions regarding which shares to sell for the highest tax efficiency. Zecco has the Gainskeeper tool for just this purpose, which is free for the first 2 months, then $24.99 every 6 months after that. While some people may scoff at the idea of paying $50 a year for a tool offered for free at some other discount brokerages, the cost averages out to roughly the cost of one trade per month at those same brokerages. So if you are active trader, you will more than come out ahead due to the 10 free trades you will receive monthly.
Account records. Zecco keeps their costs down by automatically enrolling you in e-statements. You can receive paper statements for a fee.
I think Zecco is a quality trading platform, which certainly can’t be beat for the price. Zecco is a flexible brokerage and will meet the needs of many different types of investors – from the investor who buys and holds ETFs (such as myself) to the day trader who makes dozens of trades in a month. The biggest complaint that some people have is the additional expense of certain premium tools. But in my opinion, if you are trading often enough to need those tools, you are most likely saving a lot more money based on the average trade commission with Zecco compared to the average trade at another brokerage.”- http://cashmoneylife.com/2009/01/21/zecco-discount-brokerage-review/
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