This post is part of our Online Stock Broker Reviews series. We will be taking a look at Zecco online brokerage to help you determine which broker is the best for your investing needs.
Commissions: $4.95 ($6.95 for stocks/ETF’s under $1.00)
Minimum Deposit: No Minimums
IRA’s: Yes – Traditional/Roth/Rollover
Customer Service: Phone/Email/Live Chat 8AM-7PM M-F, 10:30 AM-7PM Sun
Mobile Trading: Yes – IPhone only
Real Time Quotes: Free for the 1,000 most popular stocks, $19.95 upgrade for all stocks
Educational Tools: Yes – Articles, videos, investment glossary
Local Branches: No
Community Forum: Yes
Zecco is an online broker that can help you make stock, bond, options and forex trades. They have one of the lowest trading commissions anywhere and they also offer a social networking community of investors that is quite active. You can manage your Roth or Traditional IRA accounts and regular trading accounts with ease.
– No minimum deposit required
– No inactivity fees
– IRA options available
– Real time quotes
– Ease of use of trade tickets
– Advanced trading tools
– Social networking
Having no minimum deposit is a very attractive feature that speeds up opening an account, combined with no inactivity fees, it allows Zecco to be the online broker of choice for beginners. The real time quotes and advanced trading tools will appeal to more sophisticated and experienced traders as well. The social networking is ideal for all traders.
Begun in 2006 by former Merrill Lynch VP Jeroen Veth, Zecco.com has transformed the online brokerage industry. The social network or community that Zecco promotes is very active and is used by both the novice and expert alike. Here you can ask questions of your peers and set up trading clubs. You can see the strategies used by the most successful investors and discuss how to implement them yourself in real time.
While first time investors might find the website to be a little ‘busy’ it is still quite easy to open an account and learn the nuances of trading with Zecco. A very nice feature is the ability to fill out your account application and save, allowing you to complete the application at a later date without having to begin all over again. Information is well laid out and easy to follow; blog posts and forum threads were easy to identify and join. Telephone and chat support are available 24/7 to help you with any questions.
You can now download “Zap Trade” for free that works with your Firefox browser. It will allow you to place stock trades and receive real time quotes, all while you are visiting other popular sites like msn.money or yahoo/finance.
Zecco also offers ‘Zecco Mobile Lite’ for your iPhone. With this app you can monitor your portfolio and watch lists, receive market updates, quotes for both stocks and options, check in with the community and even have email alerts pushed to your mobile so you never miss a stock’s move.
The Zecco.com stock screener tool allows you to customize search criteria with over 50 different variables. Save your searches and share within the community, create watch lists and link up with email alerts all based on your stock screener results. You can also screen for mutual funds and exchange traded funds.
Interactive charts feature more than 30 different overlays for those who love technical analysis. There is access to thousands of different analyst reports and stock research information. The options strategy builder is especially useful incorporating graphs to visualize your anticipated performance.
With trades at just $4.95 per, great tools and an active community of knowledgeable investors and traders, Zecco is one of the best online brokers around. They even send out a pre-market daily newsletter with all the news of the day and their own proprietary community sentiment indicator.