Features
  • #1 in customer service by SmartMoney (2010-2012)
  • No minimum deposit required to open an account
  • Free stock trading IRA – including Traditional, Roth and Rollover IRAs
  • Superior trade execution with industry leading trading platform
  • Great online Interactive Trading Community
Mobile Interface
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Web Interface
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Zecco Trading User Review Author: 14 June 2012

Overall Rating

Recommends Zecco Trading for:

  • Discount Trading
  • Options Trading

Overall, Zecco is a suitable choice for beginners as well as small retail investors who prefer discount trading. Zecco is beneficial if you want to take occasional exposure in options along with discounted rates for stock, ETFs and Funds. They do not have any account opening charges, so you can always try them by opening an account for free. Zecco is a large brokerage with its client base exceeding 400,000 investors. Moreover, Zecco offers a Trading Simulator free of cost to all clients. The website has little information, so you have to spend time to look for what you want.

For detailed information, browse through our detailed reviews below.

What Type of Accounts you can open with Zecco?

Zecco offers a whole host accounts to choose from. You can easily find the one that suits your needs. Popular accounts that you can open with Zecco are Individual, Joint and Custodial.

The list of all accounts that you can open with Zecco is:

  1. Individual Account
  2. Joint Account
  3. Custodial Account
  4. Retirement Accounts: Traditional IRA | Roth IRA | Rollover IRA |
  5. LLC Account
  6. Trust Account
  7. Sole Proprietorship Account
  8. Investment Club Account
  9. Partnership Account
  10. Corporate Account

Zecco offers the following selection of investment products:
  1. Stocks
  2. Options
  3. Mutual funds
  4. Bonds
  5. CDs
  6. Forex
  7. Treasuries
  8. ETFs

Zecco’s: Fees & Commissions

One cannot wary that commissions are the key cost of investing, but one interesting fact is that the size of commission influences your trade decisions. Let’s understand their pricing structure.

  1. Zecco is a low-cost brokerage for trading in stocks and ETFs. Their commissions are much lower than industry peers. They only charge $4.95 for online trades in stocks and ETFs.
  2. For broker-assisted stock and ETF trades Zecco charges $19.99, and there isn’t any limit on the quantity traded. These trades are placed through their customer service.
  3. For Extended Hours Trading Zecco charges an additional $0.005/share along with the base charge.
  4. Options can be traded at $4.95 along with an additional per contract charge of $0.65. Both, options assignments and options exercises can be done at $4.95.

Margin trading can be done at competitive rates with Zecco. Depending upon the size of your account the applicable margin rate can be anywhere between 3.75% and 7.75%.

Zecco’s Tools and Platform Performance

In past few years Zecco has completely transformed itself and now it offers trade and research tools that are quite simple to use yet competitive with their competitors’ offerings.

Tools offerd by Zecco are:

  1. Zecco Screeners: Zecco offers easy to use market screeners that can help you to identify and harness the best stock, ETF and Fund opportunities that match your investment criteria. Like most popular discount brokerages, even Zecco offers screeners with cutting-edge technology, but what really makes their offering distinct is the option to screen markets using more than 50 filters.
  2. Quotes: Zecco features data providers such as Lipper, FactSet, Briefing.com and Comtex. These names are well known for providing reliable and timely information.
  3. Zecco’s Options Strategy Builder: Options strategy builder lets you select an options strategy that best suits your risk tolerance. You can use this tool to calculate underlying stock price movement based on fluctuations in volatility. You can even make calculations assuming different scenarios.
  4. Zecco’s GainsKeeper: This is a premium tool that helps you in understanding tax implications and lets you analyze portfolio performance.
  5. Quotestream II: This is yet another premium tool that lets you monitor market fluctuations with streaming Level 2 data in real-time. Zecco’s customers have to pay extra to subscribe for this tool.
  6. Zecco Streamer Review: This is a free version and gives you the option of streaming delayed quotes on almost all exchanges.

Zecco Mobile Platform

Trading is easier with Zecco’s Mobile interface that lets you stay in tune with even the minutest market moves. You can hang about anything, anytime, without the fear of losing the sight of the news feed and latest market updates. Using a Smartphone, you can now trade stocks, options, futures, and mutual funds without the hassle of finding a terminal. Zecco allows you to delve in a bit deeper and track the live streaming quotes, advanced charts and graphs as well as get synchronized updates of your portfolio, watch list and balances by providing apps for the leading mobile platforms such as iPhone 3G, iPad, iPod Touch, and Android based devices.

How good is Zecco’s Customer Service and Support?

Zecco offers Phone, email and Live Chat support, and they are pretty good at solving customers’ problems. Although, you would find that their Live Chat support is mostly busy. Their licensed representatives are good at what they do and their full team is available from 8am to 7pm on weekdays. You can even contact them on Sundays 10:30am to 7pm through chat and email.

Zecco’s Educational Support for traders

Zecco has a good content for the traders on its website.

  1. Stock Trading Education: Zecco’s provides extensive education support and learning programs that help traders upgrade themselves and their trading experience. They aim at imparting rational tips and strategies that will help you build up a well-organized portfolio and to sharper your trading skills. With some highly engaging and useful videos, learning minute details for better trading becomes achievable.
  2. Options Trading Education: For options traders, Zecco provides a specialized trading education prospect that will guide you pick up the right stocks at the right time and define its near future moves. Zecco’s Options Trading Strategies are pretty coherent and advantageous for options traders to make money on their options positions.
  3. Zecco’s Investment Community: ZeccoShare allows its members to interact online and share trades, investment ideas and much more with other traders. Only a few brokerages offer the community advantage. You can share investment ideas and compare portfolios, and at the same time take advantage of blogs and forums. You can even track the publically shared trades of other members of the community.

Miscellaneous information about Zecco

In the past Zecco was popularly known as a Zero Commission Broker. Now, they no longer offer free trades, but the recent improvements have been significant as far as the user experience goes.

You can fund your Zecco trading account in any of the following ways:

  1. Link a Bank Account (Establish ACH)
  2. Through Cheque deposit
  3. Using Wired Transfer
  4. Transferring another Brokerage Account to Zecco Trading Account

Your email address will not be published. Required fields are marked *

Your Ratings:


  • Overall

  • Types Of Accounts

  • Trading Fees

  • Technology

  • Mobile Platform

  • Customer Service

  • Education

  • Miscellaneous

*

 

 

14 September 2012

Overall Rating

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bool(false)

Nightmare brokerage; problems non-stop for 6 months. Cancelled trades executed and sold off automatically at a loss and without compensation to me, orders broken up and charged double commission, my account converted to €˜margin€™ without my consent, order modifications on certain stocks would be rejected after 2-4 modifications, leaving the order open and impossible to cancel. They told me to call every time this happened, which was every day.

The worst part was my attempts to transfer my account. First time, Zecco stated that I had naked positions open to transferee broker, which was impossible as I was not approved for margin trading. That transfer fell through. Second time they failed to transfer one of my holdings, it is now almost 2 weeks into the transfer, no movement. Spent an hour on the phone with Zecco manager and the transferee broker rep attempting to resolve the situation; they have no answer as to why the one holding was not transferred, and promised a 2-3 day time line to complete the transfer. This also failed. Almost 2 weeks that the left over equity has been locked down, moving up and down, and I am unable to trade it. The manager tried to tell the transferee broker they need to do a €˜residual sweep€™ when by law only the transfering broker may do so. They lie, they cheat, they do not care about their customers. They only want your money, and if you give it to them you will be very very sorry. You have been warned.

PS. Their trading tools or \'platform\' are a pathetic joke.


27 August 2011

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The "Zecco Editor Review" below is dated: Zecco no longer offers any zero commission trades; the fee schedule was changed over six months ago (April). The company now charges $4.95 for most stock trades and almost $7 for penny stocks. The community is good, though increasingly polluted by discussions of penny stock companies; however, the commission schedule is not competitive and there are much better deals out there--just look through this website and you'll find them. The clearing company, Penson, now passes along fees of up to $700 for the sale of non-DTC eligible penny stocks (there are over a hundred of them and growing); it's an improvement for Zecco, because getting rid of the posts on junk companies will improve the discussion forum!


For anyone interested in opening a brokerage account, I would not consider Zecco. Look at eOption, Tradeking, Just2Trade or a few others as an alternative.


16 May 2011

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bool(true)


If you value your money stay as far away as possible from ZECCQ!
07 April 2011

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bool(true)

Bait and Switch, then fine. This is Zecco's business model. They lured in investors, jacked up the rates, and then hit them with fees as they tried to leave. They lied about paperwork, they lied about their financial services firm, they attempted to blame other businesses for their unwillingness to let clients leave without fining the heck out of them. They are a corrupt business and tettering on the edge of fraudulent. I'm not a lawyer, but they have got to be close.


20 May 2009

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Equity trades at Zecco cost $4.50 each and trades cost $4.95 at TradeKing. The difference is only $0.45 per trade, which isn€™t much when you only make a few trades per month. The difference comes with the extras - Zecco charges $50 a year for their GainsKeeper tool, which tracks your realized and unrealized gains - it€™s a great tool for maximizing your tax strategy as you go. TradeKing features the Maxit Tax Manager which does the same thing, but is free. Zecco also boasts a host of other premium features, many of which require a subscription. Most of these aren€™t very expensive for what you get, but similar tools can be found for free at places like TradeKing.


20 May 2009

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bool(true)

Social networking tools - Unlike many of the other online stock trading services, Zecco is really a community-driven website. This ensures that I have the support I need and I am not left to sink or swim on my own.


19 May 2009

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love their free trades per month! worth it just for that


19 May 2009

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excellent service for the best price in the town!


18 May 2009

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bool(true)

During the first day my zecco account was open I made 4 trades on the Zecco Platform. I bought 4 shares of 4 different dividend stocks ranging from small with low volume to high with large volume.The Order Entry Interface is not rocket science to figure out and I found it to be responsive and easy to use.

You do Have a surprising large number of the types of trades you can perform with a basic zecco brokerage account including: Market, Limit, Stop, Stop Limit, Trailing Stop. You can perform any of these types that are applicable when Buying, Selling, Shorting, or covering. Considering I don't feel that I am a sophisticated enough technical investor yet to need much more than the Buy and Sell buttons, this was great. :-D


18 May 2009

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bool(true)

Zecco was partially funded by Lund who also funded skype.. So now you can imagine that it is indeed ground breaking just like how Skype shook entire Telecom industry by its low rates and spectacular customer service


18 May 2009

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cheapest trading available.. plus you get 10 free trades per months!


17 May 2009

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Best in market pricing. Worth for small compromise on customer service


15 May 2009

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Overall I was very Impressed with the speed of the order execution. For my purposes it was more than adequate.


Casey
02 July 2013
Reply

I am completely stock market ignorant. I’m thinking about playing around with some penny stocks and becoming a millionaire, but you’ll have to walk me through it step-by-babystep. Still want to be my broker ?

Kris Alon
23 April 2012
Reply

DO NOT use this brokerage if you’re a DAY TRADER.
I’d been using this since 2011 until recently, their system has encountered multiple problems. I bought a security and it turns out I can’t sell it online because they have technical issues, so I have to call which took almost 20mins and price has gone down. It happened to me February then again last Friday 4/20. Once is acceptable 2 is Foolishness. So I am closing my account!!

jason
07 April 2011
Reply

Zecco is a bait and switch company. They changed their rates by a large amount and then stuck their customers with the ACAT fee for leaving even though they changed their rates!! At any time they can freeze your account and bar access to your stocks and they’ve done it numerous times, it’s in their contract. They have lied to me and their own holding bank in an effort to try and force me to stay with them. They are completely unethical and the worst business I have encountered. They make bank of america look friendly.

Punit Gupta
04 April 2010
Reply

Hey, Zecco Trader,

What is wrong with Zecco, what made you say they are a scam? I have heard positive reviews about Zecco from lot of people. Obviously you would not compare TD Ameritrade with Zecco because Zecco charges you 50% of what TD Ameritrade charges. Just keep that in mind. Post more details about your investments here so that others can benefit from your experience.

Thanks for stopping by.

Zecco Trader Pissed
03 March 2010
Reply

Zecco Trading sucks, their customer service is not helpful at all. They are a scam

Guest
20 May 2009
Reply

Equity trades at Zecco cost $4.50 each and trades cost $4.95 at TradeKing. The difference is only $0.45 per trade, which isn’t much when you only make a few trades per month. The difference comes with the extras – Zecco charges $50 a year for their GainsKeeper tool, which tracks your realized and unrealized gains – it’s a great tool for maximizing your tax strategy as you go. TradeKing features the Maxit Tax Manager which does the same thing, but is free. Zecco also boasts a host of other premium features, many of which require a subscription. Most of these aren’t very expensive for what you get, but similar tools can be found for free at places like TradeKing.

Guest
18 May 2009
Reply

"During the first day my zecco account was open I made 4 trades on the Zecco Platform. I bought 4 shares of 4 different dividend stocks ranging from small with low volume to high with large volume.The Order Entry Interface is not rocket science to figure out and I found it to be responsive and easy to use.
You do Have a surprising large number of the types of trades you can perform with a basic zecco brokerage account including: Market, Limit, Stop, Stop Limit, Trailing Stop. You can perform any of these types that are applicable when Buying, Selling, Shorting, or covering. Considering I don’t feel that I am a sophisticated enough technical investor yet to need much more than the Buy and Sell buttons, this was great."

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