Monday, February 11, 2008

Trade Stocks for Free: Zecco

Recently I have been taking a look at low cost brokerage firms that I plan to use for multi-day trades. My focus has been on online firms with the lowest cost and best service. An evaluation provided two possible candidates at the top of the list – Zecco and TradeKing.

After taking a look at both brokerages I have decided to go with Zecco. The firm offers ten $0 trades per month. Even better, Zecco has built an active community around their service including forums and blogs. Some of the commentary is very beneficial and interesting for investors.

Come join me at Zecco! Buy Stocks Online for $0. Trade stocks for free on Zecco.com. The Free Trading Community.

4 comments:

Susan A said...

I noticed that you have been taking a look at low cost brokerage firms and that you mention top of the list – Zecco and TradeKing.
Have you looked at FOLIOfn yet?
Folio has a new Unlimited Plan, you get unlimited Folios (up to 100 securities each), unlimited accounts, and unlimited commission-free trading in our twice daily trading windows, plus fractional share and dollar-based investing, $3 market, stop and limit orders and no minimums. All for only $29/month or $290/year.
more at www.folioinvesting.com or www.foliofn.com.
For no additional charge, you can also use over 100, fully customizable, Ready-To-Go
Folios2 that give the diversication of
mutual funds with the control, tax, and other benefits of direct stock ownership.
Our Ready-To-Go Folios track different indices, sectors, geographies, asset classes,
and volatilities; some are even designed to go up when the market goes down. We also offer fully diversified Target Date
Folios for conservative, moderate, and aggressive investors which The Wall Street Journal called a solution to the problem of “one-size-fits-all” target date funds.
You also get unlimited access to create your own Folios utilizing US listed stocks and ETFs as well as over 1,000 mutual funds.

If you give me a direct email I will send you some more information.

Susan Assadi

GregB said...

Let me say that I was not aware of FOLIOfn. The firm appears to offer an interesting method of creating portfolios for investors. I would urge folks who are interested in creating custom portfolios over time to take a look at the services, custom portfolios, and plans offered by Folio. Keep in mind that it is better to invest for the long term rather than trade, and plans offered by Folio appear to be aligned with investing for the long term - which is a good thing.

Keep in mind that I only trade a tiny portion of my portfolio. Most of my portfolio is locked up in long term investments. I am searching for a low cost broker for the trading component only. I want good service and minimal transaction costs, and will hold most trades for several days. Brokerages such as Schwab are too expensive for this activity. Direct Access firms such as Interactive Brokers (highly recommended BTW) are overkill for my needs, but excellent for daytraders.

Getting good feedback about FOLIOfn demonstrates why it is good to get comments back on the blog... many times you learn about something new.

tonyleachsf said...

Greg -

Thanks for the post! I'm glad you like Zecco. Have you gotten the chance to check out ZeccoShare yet? It's a great way to connect with other investors - creating a profile where you can share what you're trading and holding, communicating in groups and forums, and comparing performance against other members. I'm curious to hear your opinion on the community.
- Tony Leach, ZeccoShare Product Manager

GregB said...

Tony,

I plan to try out ZeccoShare and the other community features offered at Zecco over the next few weeks as I become more involved. One of the benefits of Zecco that make it standout beyond low cost and good service is the community that has been built around the brokerage service.

Thanks,

- Greg B.