Zecco Trading Reviews And Information

Zecco Trading is a unique new brokerage that offers 100% free stock trading. The name stands for "Zero Cost Commission." Their founding has caused quite a stir in the financial media, as their service is much different from other "free" stock brokers that have appeared in the past.

Zecco Trading Services

Zecco traders receive 10 free trades per month. Trades beyond this limit are still cheap, at $4.50 a trade. This applies to both market and limit orders, and unlike the other free brokerages that have cropped up in the past, Zecco doesn't require a high minimum account balance to get free stock trades. A balance of $2,500 is all that's required. (Compare this to the $25,000 minimum at Bank of America and Wells Fargo).

Most investors make 10 or fewer trades per month, so the result is many of Zecco's customers never end up paying a single commission. Further, even the trades that must be paid for carry some of the lowest commissions in the industry.

Another thing that sets Zecco Trading apart is their integrated social networking platform. Apart from blogs, message boards, and other common social networking apps, Zecco allows for traders to share their trades with the community in real time. That means that, when reading an investor's commentary and deciding how much weight to give their opinion, you can see actual trades they have made with real money. Further, self-proclaimed "gurus" can't hide from the light of day in the Zecco community. Performance speaks for itself.

Ad revenues from community applications allow Zecco to keep stock trading free and other expenses low, and the community provides a great place for investors to learn from each other, compare ideas and strategies, or just vent.

Downsides to Consider

Of course, Zecco is not for everyone. In particular, they're not for people who want a lot of attention or hand-holding from their broker. At Zecco, the social networking system is meant to play that role. Further, while setting up an online account is easy as can be, transferring money into your account takes a bit more paperwork than usual.

Zecco Trading Reviews in the Media

Zecco's reception in the media has been quite positive. Zecco reviews have praised their innovative platform, and have noted that their executions are prompt and solid.

Some have expressed criticism of the look and feel of the trading platform, although this is very much a matter to taste. Our impression is that, like other aspects of Zecco, the trading platform is designed for people who know what they're doing. Beginners who find themselves a little overwhelmed, though, can get the answers they need from the community, which is very responsive and friendly to new folks.

Bottom Line

Zecco.com is our top pick for self-directed investors who want to manage their investments themselves, and who don't want to pay for extra frills and services that they don't use. Free stock trades and the community system make Zecco a unique experience and a great value for the independent-minded.

User Rating

Latest User Review for Zecco

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