Is anyone's broker "ZECCO"?

Question

I heard that they give you 10 free trades a month if you have $2500 in your account. Is this true? I was just wondering if anyone has zecco and is satisfied with it.

Thanks.

Answer 1

I'm curious as well... I've tried them all but Zecco Trading... I'm a bit worried about what I read, and that you're money becomes tied after selling, and fees ensue... http://deminvest.wordpress.com/2007/06/2...  

Some of the info. I find is a bit outdated, anyone currently using them without issues?  And I don't mean just buying stock, but the whole process, including the selling.  http://www.zecco.com/trading/faq.aspx?ta...   I've used E*trade and Scottrade for years with no problems.  Here's the comparison from Zecco:  http://www.zecco.com/trading/FreeTrading...

and the comparison from scottrade:  https://www.scottrade.com/online_broker_...

E*trade also has some nice tools and platform, but more expensive.  For the 10 free trades per month Zecco states you need:  "$2,500 minimum account net equity (Pattern Day Traders must maintain a $25,000 net equity balance)"  I wonder if this means a balance of 2,500 of untouched money in your account, meaning just sitting there so they make the interest?  Zecco seems to be lowering their free trades per month as well, first it was 10 trades per day, then 40 per month, now it's 10 per months, sounds a bit like they just want the customers, then bait and switch.  Well, I've been happy with Scottrade, if you decide to go that route here's a code / coupon for 3 free trades.  Simply open an Account on the Scottrade homepage.  Fill in your information on the Get Started page and when asked how you heard about Scottrade, select "Referred by a friend, relative, etc."  Enter HPVG1076 You'll see the free trades on the right side of your homepage after you sign up!  I'm not adverstising for Scottrade, but I've been the happiest with them :)

Answer 2

i started with zecco.....still use it, still very happy. only ones with no fee for stock trades, and no minumums. all the others will charge you fees for trading, but compare and see for yourself!

http://friends.zecco.com/r/a7a2877caab81...

Answer 3

It took a long time for me to setup an account -- so long in fact that I canceled it after one month.  Most people wouldn't have this problem, but it can happen.  I have also heard that some people have problems getting money out of their account.

I haven't traded with them, but I thought you may like to know a few drawbacks.

Similar brokers would likely be tradeking.com, and if you like great software then thinkorswim.  Just2trade is cheap as well.

Answer 4

Yes, Zecco does offer 10 free trades a month if you have $2,500 in your account.  However, remember that you get what you pay for.  SmartMoney ( http://www.smartmoney.com/brokers/index.... ) rated Zecco as the worst in two categories: research and customer service.  Plus, their website is known to be complicated and hard to use.

I would recommend using Firstrade ( http://www.firstrade.com/ ).  They are cheaper than big name brokers such as ETrade, Ameritrade, Schwab, and Scottrade.  I've been using them for quite awhile now and I've been very satisfied with them.  I would definitely recommend that you check them out.

Firstrade currently has a refer-a-friend program, so if you're interested in opening account with them, email me for a referral code. It's a win-win situation because you'll get your first 5 trades free.

Answer 5

Yes, I use it and it is free as advertised.  If you want streamer quotes you have to pay extra though.  I don't think it is quite as reliabale as the major online brokers in terms of downtime but it functions very well for the price.  I recommend.