Can anyone comment on Zecco, the free online investing site?

Question

It seems like a pretty good deal, and I was curious what people's experiences are.

Answer 1

I took a quick look and the fees don't look too bad. It all depends on how large your account is, how you trade, and how often you plan to trade.

Although they have very low transaction fees, you need to be aware about their fills. Perhaps they don't get as good of a price as other brokerages. Or if you do a lot of transactions (non trade related), you'll rack up a lot of fees.

Now if you just trade occasionally or do some option trading, the prices aren't too bad.

There are a lot of good brokerages depending on what you like and how you trade.

Here's some info on other online brokers so you can do a little more research and pick who you think is best.

Barron's has a great article on brokerages that they publish each year. (Latest one was in March 6, 2006). Kiplinger does one too.

Here’s the link to the Barron’s article.
http://webreprints.djreprints.com/155028...

Here’s the link to the Kiplinger’s July 2006 article which isn’t bad either.
http://www.kiplinger.com/magazine/archiv...


For basic stuff, E*Trade, Ameritrade, and Scottrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.

Based on what you put in your question, I'd recommend one of the first three, but all are very good. Cheapest probably is scottrade (of the larger online firms). Yes there are cheaper like interactivebrokers, but you'll have to get used to their software based platform (which is doable). They're only about $1/contract on options!

Brokerages like Fidelity are horrible for anyone with any decent experience.

So, decide what's important to you as a trader and compare the brokers! You can use the article, or go to each website as they all seem to have comparison charts!

And if there are particular things that you want to mention as being most important to you (such as executions, cust svc, cheapest trade, flexibility on allowing you to do certain types of trades, stop and stop limit orders, contingent orders, great graphing, what if scenarios, training, etc), I'll be glad to help discuss this with you too!

If you have any questions, let me know.

Hope that helps!

Answer 2

If you read the fine print you will see they do charge fees as in monthly dues which are 10 dollars per day and 40 per month then 8.50 per day kinda confusing and 2000 minimum to open an account. If you want to invest Join an investment club i am in one that deals with forex and RE and we average returns of 5.3% monthly. If you would like more info write to me [e-mail] oh and there are no fees to join as the club is just that a place where persons come together for the purpose of making money in same type of venture.

Answer 3

How do they make their money? They aren't in business to give you free trades.

There is such a thing as "payment for order flow" where they are paid to direct the order to a certain market maker for matching rather than to the one offering the best price.

Answer 4

service pretty good. i got 30 free trades so far