Saturday, December 6, 2008

Zecco

Zecco is an online trading brokerage firm that gives its clients 10 free trades per month with a minimum account balance of $2,500 and charges $4.50 per trade after the 10 free. The feature that interests me that I haven't seen with another brokerage is their ZeccoShare Community - you can compare your return on investment to other members. Nothing like a little healthy competition to get your ROI up!

Another feature I like about Zecco is that they offer candlestick charts, so once you've put together your watchlist you only need your Zecco account to watch the stock at the point of purchase. This makes trading basically a one-step procedure. Other brokerages that offer this same feature are SogoElite, and those that do not are SogoTrade.

Zecco is like many other online brokerages in that they offer Real Time Quotes, a Stock Screener, short sell, buy to cover, sell, and buy orders as well as Options Trading and Mutual Fund orders. In their Premium Tools section they offer Tax Planning tools for a monthly fee of $24.99 that will inevitably make reporting your earnings or losses easier come April (something Just2Trade offers for free). Zecco will also monitor your portfolio's performance using typical reporting methods or your own parameters. 

Their trading center is great in that it puts the most important function in clear view - once you click the "Trading" tab you'll see your holdings at the bottom and right up top are your fields to place an order. Also, whether you're looking at your trading center, history, balance, executions, or quotes page you can place an order with the same transaction panel located at the top of the window.  It's pretty no-nonsense. Somewhat like SogoElite's platform.

Overall I like the young, hip feel of Zecco as well as the layout of the site that makes trading easy. After all, trading is the main goal, right?


Last Updated 12/8/08