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Zecco

By on November 1, 2012
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Zecco Trading is a US based online brokerage firm with operations in San Francisco, California and Glendale, California. The company was founded in 2006.

In this Zecco review, I'll cover what Zecco has to offer, who they're right for, and give you guys some links to the latest Zecco promotions. If you've used Zecco before, please add your own rating and review below.


Zecco – The Basics:

Investments:

Stocks, options, mutual funds, bonds, forex, treasury bonds and ETF’s.

Commissions:

Stock trades are charged $4.95. However, for stocks and ETF’s priced under $1, online trades cost $6.95. An additional amount of $0.005 per share is charged for extended hours trading. All options trades have a base of $4.95 with an additional $0.65 per contract. All options assignments and exercises are charged $4.95. Broker assisted trades cost $19.95. Mutual funds are available for $10. Bonds cost $4.50 per transaction with a minimum of $22.50. Treasury bonds cost $24.50 per transaction.

Investor Education:

Video training for retirement planning, plus basic stock and option trading strategies.

Mobile apps:

iPhone, Android.

Clients must make at least 25 trades per month for three months continuously or have a net portfolio worth $250,000 to qualify for ELITE status. ELITE status allows clients to get Zecco streamer for free and the fee for broker assisted trades gets reduced to $4.95. IRA’s are made free and clients get free access to wires of almost $5000.

There is no minimum to open an account with Zecco Trading. Apply for an account now.


Pros & Cons Of Zecco:

Pros

Cons

  • Low commission rates
  • No minimum fee to set up account
  • No account maintenance or account inactivity fee
  • Free streaming quotes
  • Active online trader community
  • No surcharge at all for large orders
  • Simple and intuitive web interface
  • Great social sharing plug-ins across many financial websites
  • No minimum for IRA
  • Trade stocks on your Facebook page
  • A surcharge of $2 per trade on penny stocks
  • $30 annual fee for IRA
  • Extra charges for extended hours trading
  • No iPad and Blackberry app yet.
  • No mobile website
  • Pre and post hours trading is not supported
  • Poor customer service
  • Transfer fee of $50
  • Lack of portfolio analysis tools

How Others Rated Zecco In 2012:

Barron's: 3/5 stars

         Highest rated category: Research Amenities

         Lowest rated category: Customer Service and Education

Smart Money: 7th Overall

         Highest rated category: Customer Service

         Lowest rated category: Banking Services


Word On The Street Is…

Zecco has a very attractive price structure for active traders. Zecco also has some great plug-ins. One of them allows you to trade using Facebook. The recently launched Zap Trade plug-in for web browsers allows you to trade on the browser without having to go to the Zecco website. The Zecco Share Community is an active online trader community where you can learn much about trading and market dynamics from other traders.

Overall takeaway: Relatively low costs and web integration via ZapTrade are the main draws for Zecco customers.


Zecco Promotion Code:


Hit the link below to claim the latest Zecco promotion. Click below to claim promotion code Get $150 when you transfer your account. Click here to apply now.

Where To Open A Zecco Account:

Open A Personal/Joint/Custodial/Business Account With Zecco: Apply Here

Open An IRA Account With Zecco: Apply Here

Open A Forex Trading Account With Zecco: Apply Here


P.S. Don't forget, if you've used Zecco before, please help us by adding your rating and review below!

References:

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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