2006-12-20 12:30:52 · 5 answers · asked by noseque1984 2 in Business & Finance ➔ Investing
Co has already announced that they'll make money from ads. So you'll get these ads in your account if you go with them. They cost their trades at $2.00.
In addition, they'll make money, as all brokerage houses do, by borrowing your long stock for other clients who are shorting. You won't know this, but they all do it.
Zecco recently opened for business, has some high-profile backers. Much too soon to know how well they'll hang in, as other posters have mentioned.
I wouldn't go there. Who needs a potential hassle? Remember, if they go under, a nightmare will ensue even if your account is insured. Assets would be frozen for periods as long as a year or more. You wouldn't be able to sell or recover your cash, you'd have to suffer whatever price drops the market presented to your frozen securities.
Other well-established online brokers have commissions ranging from 7.00 to 15.00, usually depending on how frequently you trade.
Lastly, the ad side of their operation suggests that they'll launch tracking cookies onto your comp, possibly some form of adware or spyware, so they can mine your quotation interests and trading data in order to fine-tune their advertisement sales operation. Would they sell this data to outsiders? You'd have to examine the fine print of their privacy statement. Would you necessarily believe it ...
2006-12-20 13:09:52 · answer #1 · answered by strath 3 · 0⤊ 0⤋
Never heard of Zecco but $0 commissions are usually for the first few months or there may be account maintenance fee .
You have to read all the find print . . . it tells you, whether a brokerage, or car loan , or mortgage . . .
Read ALL the fine print .
2006-12-20 20:38:27 · answer #2 · answered by kate 7 · 0⤊ 0⤋
they claim they make money on the options but I have to seriously question their intentions another company tried zero sales fees a few years ago and had to close up a year later. I have had a rought time getting answrs from them so I do not recommend them.
2006-12-20 20:34:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You don't get something for nothing you'll pay for it when the free stuff wears out! Hello of course it's to get customers!
Willy
2006-12-20 20:32:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yes
2006-12-20 20:32:19 · answer #5 · answered by ? 7 · 0⤊ 1⤋