Zecco has free stock trades and no minimum balance
Do I need to say anymore?
I posted about Zecco.com a few months ago in this post. Apparently they lowered their[tag] minimum balance[/tag] from $2500 to $0 since I last posted about them.
What is the catch? For most people there isn’t one. They give you up to 10 [tag]free stock trades[/tag] a day or 40 per month. Anything over that is $3.50 per trade (which is still a steal). I found out that they make the majority of their revenue from options trading and interest on uninvested balances.
I just opened an account with them and I am still in the process of transferring my stocks over. I will post if I have any negative issues with them.
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Filed under Investing online for beginners by bob
Comments on Zecco has free stock trades and no minimum balance »
I see you fixed the sidebar. It works now! God bless brother. Keep up the good work!
Lance
I got that e-mail as well. Zecco is pushing hard to make a dent in the low cost brokerage market.
I thought about moving my stocks over from TradeKing, but just finished transferring from ShareBuilder so I opened a brand new account instead.
Now I can gamble a bit more on the speculative stocks without feeling the commission eat up my gains. It’s very weird to trade/invest w/o the burden of commissions.
Are we witnessing an industry trend?
yea, that is the great thing about free trades - it really boosts potential profits for smaller investors. I am also looking forward to seeing what happens now that stock trades have become commodities.