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VeraM
Joined: 08 Nov 2007
Posts: 2081
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 Posted: Wed Dec 12, 2007 7:22 pm Post subject: Is Zecco.com any good for trading? |
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| Now I know that they offer free commissions for people who trade less than 10/day, 40/month like myself, I was just wondering if any =one could give me feedback on how the site was for them. Is there anything I should know about ie hidden fees, bad buyer service, etc. that I should know about before I get involved with Zecco. The main reason I'm interesting in Zecco is caused by the fact that I'd like to start investing and I don't have much money to invest about 5k, so I'm looking for a brokerage where commission fees are cheap and dont cut too much in any profit taking. Thanks. |
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Nobody
Joined: 08 Nov 2007
Posts: 2100
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| Posted: Wed Dec 12, 2007 7:22 pm Post subject: Is Zecco.com any good for trading? |
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| Barrons did an article last November called What Free Trading Costs. Ill put the link here but youll most likely need a subscription to see it. The upshot is that they pay you 1% interest on your cash balances. Their execution may be slower. If you keep $1000 in cash on average, the 4% lost interest since rates now are about 5% will be $40/year. If your cash balance is higher, you get hit worse. Just be sure that the lost interest isn't greater than what your commissions could be. |
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Don
Joined: 08 Nov 2007
Posts: 2196
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| Posted: Wed Dec 12, 2007 7:22 pm Post subject: Is Zecco.com any good for trading? |
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| Yes. |
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