Zecco Stock Brokerage Review
Updated November 7, 2009. The instant Zecco jumped onto the scene they altered the entire pricing scheme of similar brokerages, but what happened to all the free trades?
Made famous by its initial commission-less trades, Zecco has lowered the barrier for many on the sidelines to get in the stock trading game. While the brokerage is not completely 100% free trading like before, commissions are still some of the cheapest around and there is criteria you can meet to be eligible for free trades every month.
Ways to be eligible for free trades:
- Maintain a minimum of $25,000 in your account
- Execute 25 trades per month and get 10 free trades
- No forms to fax, no signatures to mail
Commissions and Pricing
- Stock trades are a flat-fee $4.50 per trade.
- Options trade at $4.50 plus 50 cents per options contract.
- No minimum account fee or inactivity fee.
Details and Summary
One of the negatives that have been keeping many away from Zecco was its lack of tools and trading platforms; however, the once infant-tile discount stock brokerage is looking to break out into the world of the heavy hitters.
Unlike similar brokerages, Zecco is still very much growing, so what may be a negative today could be fixed tomorrow. Evidence of this move forward is the CEO change effective January 2010.
Pros
- Cheap commissions
- A 100,000 member investment community, with blogs, forums, and analysis
- Open real and/or practice Forex accounts
- Free trades
- Fast trade execution
Cons
- Tools and resources are bland
- Quirky usability issues with website
With no minimums, low commissions, and paper-less sign up, you can literally start trading with Zecco right now.
What to do next – Sign up for Zecco here
Similar stock brokerages – TradeKing, Optionshouse… Find the broker that best meets your needs.
