Friday, November 14, 2008

Zecco Online Discount Stock Brokerage Review

Update: Starting in early march 2009, Zecco changed their stock trading fees. In order to get the 10 free trades/month investors must have at least a $25,000 balance in their brokerage account OR they must have executed at least 25 trades for the previous month. Otherwise the commission is still pretty low at $4.50/stock trade.

Zecco, the online stock brokerage has revolutionized online stock trading over the past two years with its ten free trades per month policy, no account minimums and the ever growing investment community that this broker has created on their site. Using Zecco’s community you could get in touch with thousands of investors, who are taking advantage of the free stock/ETF trading.

Since I make several trades a month as part of my process to build my dividend portfolio, the free trades that Zecco offers its brokerage customers really saves me some money.

The main reasons why people switch over to Zecco include:

1. Zecco offers 10 free stock trades/month if you open an account, and maintain a balance of $25,000 or execute at least 25 trades/month.
2. After you use the ten free trades per month you are charged only $4.50 for stock trades
3. The execution is instantaneous for market orders and there’s no slippage
4. There are no minimum balances to open and keep your brokerage account 5
. There are no monthly inactivity fees for brokerage accounts
6. You can trade stocks, ETFs, options, mutual funds
7. The account opening process is straightforward and there’s no paperwork involved – it’s all electronic
8. You get free real time quotes and charts with your Zecco account.
9. You can open a Traditional, Roth or Rollover IRA.
10. If you link your brokerage account to your checking/savings account your ACH transfers take 2 business days

The ten free stock trades per month are definitely worth opening an account at Zecco.

Sign up for a Zecco account here.



This article appeared on 179th Carnival of Personal Finance.

5 comments:

  1. It sounds like a good deal. Can you trade options,bonds,mutual funds or futures?

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  2. You could trade options and mutual funds. Zecco does not offer forex or futures trading at this time.
    Anyways I think that Zecco is a very good option for long-term investors and not so active traders making few trades per month

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  3. This comment has been removed by the author.

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  4. I have zecco account and they have great community. Anybody here interested in crating dividend group? my id is husamia

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  5. Hello...I prefer Sharebuilder. The one-time trade is a little higher at $9.95, but having the dividends reinvested free of charge (will even buy partial shares) out weights the higher cost (IMHO). If you have an investment you want to purchase over the long time, you can set up a reoccurring buy on Tuesdays for only $4.
    Great blog by the way. Huge dividend fan. The dollar cost average and compounding of reinvesting dividends is incredible.

    ReplyDelete

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