Zecco Trading Online Broker Review

Zecco Trading is an online discount broker which provides low cost stock trades. Customers are being charged with $4.95 per trade. You can find the Zecco Trading review in this post.

Note: Zecco Trading is part of TradeKing now

Introduction

Zecco Trading is an online discount broker that offers low cost stock trades to its customers (traders and investors). It used to provide free trades for its customers. This free trades option was discontinued around 2011.

Known for being a discount broker, Zecco also offers low cost options, Forex trading, mutual fund, and exchange traded funds (ETFs). Through its free ZeccoShare community, Zecco offers their members to share online trades and investment ideas with other traders or investors.

Products & Services

• Products Offering: Stocks, options, no-load mutual funds, Forex (separate account)
• Market Orders: $4.95 per trade
• Limit Orders: $4.95 per trade
• Mutual Funds fees: $10.00 per trade
• Options fees: $4.95/trade+$0.65 /contract
• Broker Assisted: $19.99 per trade + fee
• Minimum Balance to Open: $0. $2000 minimum for margin accounts.
• Account Inactivity Fee: $0.00
• Some Other Fees: DTC Out: $25.00. ACAT Out: $50.00. Paper statement: $1.50, E-paper: $0.00
• Maximum Margin Rate: Based on proprietary base rate

You can open Zecco Trading account by filling its online application. Most people will get their account information within a day after application submission. You may need to provide other personal information such as driver license or identification, bank information, etc. To apply for margin account, option trading account and Money Market Sweep Account, you may need to fill separate form from their website.

Commission

Stock Trades – For typical stock or ETF trades, you are being charged with $4.95 per trade. OTCBB (pink sheet) stocks are supported by Zecco. For stocks and ETFs priced under $1.00, online trades are $6.95 per trade. For extended market time, the trading fee is $4.95 per trade + $.005 per share.

Options Trades - All options trades are $4.95 per trade + $0.65 per contract. For 10 contracts, you will be charged $11.45. There are no minimum charges and all options exercises and assignments are $4.95.

Zecco Elite

Customers who make >25 trades per month for 3 consecutive month or have a combined portfolio value of >$250,000 are qualified for Zecco Elite status. You may get Zecco streamer for free, $4.95 broker assisted trades, no fee IRAs, and free of charge wiring transfer of >$5,000.

Note: Zecco is part of TradeKing since 2012.