There have been some brokerage companies that have recently lowered their stock trades to $7. I have been using Zecco for over three years year now and I have to say I have been very pleased with my Zecco account and would recommend Zecco to anyone who wants to save money on stock trades. Here is a review of Zecco.
Cost Stock trades are $4.50 each and ZERO for the first ten trades a month for account holders with over $25,000 in assets with Zecco. I had been using Scottrade in the past and was happy with the service but enjoy the lower cost of trades.
Flexibility in trading I love the ability to make small purchases to help create a well diversified portfolio with a limited amount of assets. I can use dividends from a couple of my large stocks to make purchases into new holdings, again allowing to diversify my portfolio at no cost.
Ease of use Once you are logged into the Trading Center there is a simple to use Stock Order Entry. You enter the stock symbol, buy or sell and the number of shares. It also allows limit orders on this same entry form.
Trading Tools They now offer S&P Stock Reports for free as well as Stock Alerts and Analyst Upgrades/Downgrades, Streaming Quotes, Stock Screener and Interactive Charts.
Customer Service The customer service I have received has been satisfactory. I had a question which I submitted via email that was answered the next day. I also transferred stocks from Scottrade via ACAT and the process was very smoothly and took about two weeks. I also enjoy the ACH bank transfers to and from my Zecco account which are free.
Overall I have to say I have been very pleased with my Zecco account. I would recommend Zecco to anyone wanting to lower their cost of trading. Happy Trading.
The Div Guy has not been compensated for this post.
4 comments:
I use Wellstrade from WellsFargo and with 25k you can have 100 free trades a year.
I have been using Scottrade in the past but have switched to ShareBuilder since Sharebuilder will automaticly reinvest your dividends for zero cost. I keep my non-dividend paying stocks in Scottrade and still use Scottrade for research. Sharebuilder is $9 for one-time market order. But, it you setup an order in advance, Sharebuilder will pay on Tuesdays for $4.
I use Zecco too, with the $25k minimum, you get 120 free trades a year. 20 more than WellsFargo.
I wish they did free reinvesting of dividends, but as the post said, it is nice to be able to use the dividends from one company to buy into another if I want
I was moving my accounts to Zecco when I came across a recently implemented program that reimburses you the transfer fees if the accounts are over 15K. I moved over an IRA account and already received the reimbursement. I should get the reimbursement for my brokerage account as well. I really do like Zecco.
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