Zecco Review 2008
Update April 2008 - I finally got around to taking a deeper look into the Zecco platform as well as the account opening process. So far, so good. Opening my account at Zecco took just over 7 minutes, and was completely done online. No forms to fax, no signatures to mail in. All good stuff. I hate when I “sign up online” and then still have to print crap out to start a service.
Update July 2008 - I’ve been really happy with my account at Zecco so far. No issues, plus got a nice welcome package in the mail from them a few days after opening my account. As soon as I have the money, I’ll be investing more here.
Reviewing The Zecco Platform
The account center is pretty straight forward. Entering basic stock transactions looks easy enough. While I haven’t funded my account yet, I’ve heard that they have pretty fast order execution, which is important when trading online. Also, they have pretty decent options pricing, which is likely what I’ll be using my account here for at some point in the future.
Zecco…Recommend or not?
It’s hard to beat Zecco’s price structure and speed. I’ve heard rumblings about their customer service, but so far my account setup and activation has been a breeze. Once I have the cash together I’ll likely use Zecco as my primary options broker, and probably as my short term stock broker as well.
When opening your account:
- Have your Driver’s license and SSN handy
- Keep in mind you must deposit (at some point, not right away) $2500 to receive the 10 free trades a month offer
Once you complete all the forms online, you’ll receive a message stating your account will be reviewed in the next 24-48 hours. I got an approval notice within 15 minutes. Guess it pays to fill out all the forms correct : )
Ready to Start?
to setup your Zecco account. Can you beat 7 minutes?
Zecco vs. Forex
Trading FOREX is very risky. It’s not something I would ever recommend to the average investor. If you think you’ve got the chops for it, I would highly recommend you start with a demo account.
With a demo account you can trade a 100K account without any risk. You can get a free 100K demo FOREX account at FXClub. They have a nice fast platform and it’s easy to get started. Forex markets are open 24 hours a day, 6 days a week.
to setup your Free Forex Demo account.
I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid
on April 20th, 2008 at 6:13 pm
I love Zecco so far, and I’ve been with them for over a year. Not only do you get the 10 free trades but the rates are pretty low for options and trades after ten, lower than most all the other sites I’ve looked at. Their customer service has also been great for me so far. I recently had a technical question, emailed them and not only got back an email back within a half-hour, but also got a call from one of their engineers who helped me solve the problem.
on May 1st, 2008 at 4:11 am
Just signed up today…pretty much for the free trades. I got through the application process in less than 10 minutes - got approved in less than 30 minutes.
I’m not seeing any type of streaming quotes or anything…probably keep my scottrade account open for that of look for some other alternative.
Grumblings about customer service?? In 10 years of trading I’ve called my brokerage no more than twice…
on May 28th, 2008 at 7:19 pm
First off, I read your story, and feel for you. I was in massive debt in the past, but there is always a way out. You have the determination to succeed; just keep learning from your mistakes.
As far as Zecco is concerned, I have always been impressed with their low trading costs. When most brokers charge $7+ for trades, you can get 10 free trades per month for absolutely nothing. It’s WAY too cheap in my opinion.
I’m thinking about opening another business IRA with Zecco this summer because they really provide a quality service.
Zecco is an industry leader, unlink most blind followers in the Wall Street Brokerage business.
Take Care Debt Kid!