zero commision for stock trade?

Peijen · Post by **Peijen** » Thu Jun 07, 2007 4:21 pm

http://www.zecco.com/aboutus/TheZeccoStory.aspx

Someone learn more about this and let me know if it's any good.

Jason · Post by **Jason** » Fri Jun 08, 2007 1:50 am

Don't know about this company, but if you have a bank of america account, banc of america brokerage gives you 30 free trades a month.

Dave · Post by **Dave** » Fri Jun 08, 2007 2:30 am

I have BoA and you need $25 in their normal accounts (check, save, crappy IRA types, CDs) to qualify. I did for a while when I was deciding on what car to buy and bought in after febuary's drop but then didn't anymore after I didn't want to have that much in CDs/crappy BoA savings/etc.

So I have to pay $10 when i sell.

Vyrosama · Post by **Vyrosama** » Fri Jun 08, 2007 11:09 pm

bad typo there Dave...

it's a min req of $25K not $25 to qualify for $0 trades.

Dave · Post by **Dave** » Mon Jun 11, 2007 1:57 pm

Ahh yea, only a few 0s! I like etrade's webste design/format a lot better than BoA's.

skanks · Post by **skanks** » Thu Sep 20, 2007 1:34 pm

I use Zecco.com because it has no regular fees and zero commission for stock trades and it allows users significant flexibility for trading options. (basically if you claim with no justification that you've had several years of experience with trading options they will let you do everything except sell naked puts and calls which is fine by me). I wanted to apply what I learned in Math Finance so accessible options are definitely a plus. The drawback with zecco is that after a big sale it still takes a day or so for the cash to become available to invest again, but on the bright side zecco seems to authorize margin almost automatically (I think you have to click a tab on your application) which somewhat mitigates that issue. Overall I'm satisfied with zecco and I'm sure as hell not going back to etrade to pay $7 a trade or $10 for options.

Peijen · Post by **Peijen** » Thu Sep 20, 2007 3:45 pm

What's the experience with their website like. is it clean? easy to use? speed? etc.

Vyrosama · Post by **Vyrosama** » Wed Oct 03, 2007 4:01 pm

so I signed up for zecco as well =). I finally finished up all the paperwork (well most of it...I still need to find the form to get the 4%+ market sweep account...and setup some ACH) but all in all everything is going smoothly.

The only thing to note is that they are changing their business model a bit so that newly openly accounts will only get 10 free trades per month and you need to have minimum of $2500 in assets. Here's a good post about the entire zecco experience.

http://www.mymoneyblog.com/archives/200 ... rview.html

Peijen · Post by **Peijen** » Wed Oct 03, 2007 6:28 pm

wells fargo also have 100 commision free trade per year if you have 25k in their product. Which is about 8 trade per month.

Their interest rate suck though. But I heard their website is suppose to be nice, and they have a local branch somewhere in McLean.

The advantage to wells fargo is that they are less likely to go under. I don't think I can stomach BOA or I would've just move all of my money there.