Zecco.com , an online discount brokerage, charges $4.50 per trade and 50 cents per contract. Accounts with balances of $25,000 (as of March 1st) or more get 10 free trades each month. Margin rates range form 4.7% to 7.2%, depending on the amount borrowed. Zecco also offers a variety of different accounts, including traditional, Roth and rollover IRAs.
FiLife would like to take a moment to talk about free trade.
We're all for dropping subsidies, loosing tariffs and pure mercantile mania! Maybe truly open markets would help bring down rising food and energy costs. But, if we can't have that "free trade", we'd settle for $0 stock trading at Zecco.com .
This young online brokerage offers 10 free trades a month for IRA and non-IRA brokerage accounts with at least $25,000 in equity (as of March 1st). The company also offers an online community that tracks members performance and offers message boards and friends. You don't have to trade there to chat there, but you can't import results from other brokers.
After the 10 trades (do you really need to trade 10 times in one month?), equity trades are just $4.50. This is the same price for options trades. Additionally, there are no inactivity fees or require minimum balance. Zecco, however, is not the site for mutual fund investors, charging $10 per transaction for its no-load funds.
If you are inclined to trade, even in this market, Zecco.com gives you the chance to test your skills on the cheap.
As of 1 Mar 09, they no longer offer 10 free trades a month unless you have a balance of $25,000 or conduct 25+ trades a month. If I have $25,000 I would have went somewhere else that has better services. Seem to be a "bait and switch" organization. Pulling my assests out! Good bye Zecco!
Changed their fee structure twice within the last two years. Not very confidence building. Not a good platform. Customer support hardly makes it to the bearable mark. The only good thing used to be the free trades, and they are gone as well. Open an account just to see your fee increased, so that you can pay the transfer fee to get out of there!
They are a discount broker, with discounts only on services, not on commissions.
I've used zecco for a couple of years now and its always worked great and been amazing. The interface is really user friendly and their cheap stock trade rates are a nice little plus. Only downside is they spam e-mail like crazy you'll end up with a packed inbox of zecco stuff
I have been using Zecco online trading for a while and have been very pleased. The interface I find easy to use. The low pirce trades are very nice. I even find the emails helpful.
I have used Zecco for about three years now and have very little problems with them. The low price on commissions has been good and I believe about the best in the industry.I have never had problems with executions. The only downside is sometimes it takes a while to reach support, and sometimes support don't seem to be too knowledgeable about trading.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
I recommend ING Sharebuilder.
No Account Minimums,
$4 Trades for theed Basic Fress Subscription.
The $4 Trades have to be scheduled as automatic trades. My advice is to check 'em out.
The offer a wide selection of financial products/services and their prices are hard to beat. I've been with them for a few years now and haven't been disappointed yet.
Best Regards,
Douglas Uhlenhake