Zecco
What is Zecco?
Zecco.com is an investment community and financial portal. Zecco stands for Zero Commission Costs. We bring you free trading through Zecco Trading. That’s right, you can trade securities for $0 commission for the first 10 trades a month with a minimum account net equity of $2,500. After that, you only pay $4.50 per trade. Option trades are only $4.50 plus $.50 a contract. * Please explain, “Free trading.”
Trade any listed stock for free at Zecco Trading. There are no hidden fees. $0 commission. Zip, zilch, nada.
No commissions, what’s the catch?
There is no catch. There are no hidden fees, penalties or charges. You get 10 stock trades a month for free with a minimum account net equity balance of $2,500. If you’re like most people, 10 trades is far more than you’ll do in a quarter. The odds are that you won’t pay a dime in commissions, ever. All on-line trades in excess of these limits are only $4.50 each. That’s one of the lowest rates in the business. Options trades are only $4.50 plus $.50 a contract. Please keep in mind that only the first account of any account type is eligible for our Free Trading program. The only fees you’ll ever get are clearly marked on our ‘Pricing’ page.
How do you make money then?
We make money from the interest on margin balances. It’s a small amount, about 3%, but on a large volume of customers it becomes a tidy sum. Secondly, we keep our costs low. We don’t spend $5 of every commission marketing to you. And we don’t spend $400 in advertising for every new account. We attract customers like you by having the best deal in the market. Lastly, we’re building an online financial community where investors can connect with investors. Where you can find all the tools and information you need to trade, plus gain access to financial blogs, forums, and up-to-the minute financial news. We think that’s a winning combination for advertisers.
How do I receive my trading key?
Once your account is approved, Zecco Trading will send you an approval e-mail. In that e-mail there are directions on how to access your trading key.
What is the minimum amount required to open an account?
Zip, nada: there’s no minimum deposit required to open an account. Margin accounts require $2,000 minimum.
How stable and reliable is the system?
We have a state-of-the-art trading platform that is proven in the market. We use web-based technology to give investors immediate access to online, real time trades in US markets. Market volatility and volume may delay system performance and trade execution.
Are there any account maintenance fees?
Not for Individual Accounts or Joint accounts. An annual maintenance fee of $30 applies for IRA accounts.
Is my account insured?
Yes, customer securities accounts are protected by the Securities Investor Protection Corporation (SIPC), up to $500,000 (including up to $100,000 for cash claims). A detailed explanation is available upon request or at www.sipc.org. Additional securities protection is provided by Lloyd’s of London in aggregate up to $200MM. This coverage provides protection against brokerage insolvency and does not protect against loss of market value of securities.
Is my account protected against fraud?
Zecco Trading, Inc. is a fully disclosed Broker/Dealer, which is a member of the FINRA and SIPC. As a fully disclosed Broker/Dealer we are required by regulatory guidelines to provide investors with protection against such things as bankruptcy, fraud, and Broker misconduct. These protections come in the form of several types of insurances carried by the Broker/Dealer and apply to all Zecco Trading account types. These insurances include client account coverage’s under the SIPC, Fidelity Bonding and Errors and Omissions Insurance. Needless to say we are very concerned about the protection of our client’s assets and we take great care in providing protection to both those assets and our client’s personal information.
What are the Customer Service business hours at Zecco Trading?
Customer Service at Zecco Trading is open from 9AM-6PM (EST) and 6AM-3PM (PST) Monday through Friday. Our offices are closed on Saturday and Sunday. For more details, see Contact Us.
Who clears for Zecco Trading?
Zecco Trading, Inc., clears its transactions through Penson Financial Services, Inc. Zecco Trading, Inc. clears all transactions through Legent Clearing LLC.
– Taken from the Zecco About Page
Updated on March 19th, 2008
What do you think about: Zecco?