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Has anyone else heard of this Zecco.com site? Supposedly they are going to offer commision free trading. This sounds a little strange, since I know that the brokerage firms are charged a fee for clearing orders.
I'm thinking I might switch to this for non-penny trades, because I am almost certain they will have some sort of restriction on the number of trades or the dollar amount. Did anyone ever use that Freetrade site, were you charged any fee at all for trading?
-------------------- I'd just like to retire at 26.
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I used Freetrade from 2003 to 2005 knowing that it was a subsidiary of Ameritrade. They used to charge some 5 or 6 cents as the only charge that too for selling. I traded two years free. It was the greatest trading experience for me. Now it has become izone that charges $5 flat with Ameritrade style executions.
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With Izone I know there is a flat $5.00 fee, but what about the percentage charged on shares traded that are $1.00 and under? Isn't that fee quite high?
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Same $5 irrespective of type of stocks. Pinkie/OTCBB whatever the exchange or price. I just loved it when it was Freetrade and slightly lesser now (izone) due to the flat $5 instead of ZERO...
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Well I use choicetrade, its $5 for all trades also. It's fine, I guess Im getting really cheap, this might end up being a really bad idea, this company being so new and all.
-------------------- I'd just like to retire at 26.
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Choicetrade being a bad idea? lol Iv'e been using Choicetrade for over a year now... nothing bad about them at all... they have 4 stars from Barron's..
-------------------- Let the world change you... And you can change the world.
posted
I read that the site (zecco)will have trading soon, but it can't find anywhere that states that it will be free, or if/how much it cost.
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quote:Originally posted by Machiavelli: Choicetrade being a bad idea? lol Iv'e been using Choicetrade for over a year now... nothing bad about them at all... they have 4 stars from Barron's..
quote:Originally posted by Machiavelli: Choicetrade being a bad idea? lol Iv'e been using Choicetrade for over a year now... nothing bad about them at all... they have 4 stars from Barron's..
I think he was talking about zecco
Right I was talking about Zecco. They might offer free trading for a few months, and then tack on a $20 charge to sell, so I'm a bit weary.
Also I'm a girl thanks!
-------------------- I'd just like to retire at 26.
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quote:Originally posted by greenman: I read that the site (zecco)will have trading soon, but it can't find anywhere that states that it will be free, or if/how much it cost.
If you go to Zecco.com there is a countdown to Oct. 9th. Click on Zecco Beta and its all over the site. It was pr'd alot too.
-------------------- I'd just like to retire at 26.
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quote:Originally posted by Machiavelli: Choicetrade being a bad idea? lol Iv'e been using Choicetrade for over a year now... nothing bad about them at all... they have 4 stars from Barron's..
I think he was talking about zecco
Right I was talking about Zecco. They might offer free trading for a few months, and then tack on a $20 charge to sell, so I'm a bit weary.
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Any experiences with Zecco yet? I can't see anything on their site regarding max shares per day or fees for stocks under $1. Is there anything about this service that would deter penny traders?
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quote:Originally posted by KublaKhan: Any experiences with Zecco yet? I can't see anything on their site regarding max shares per day or fees for stocks under $1. Is there anything about this service that would deter penny traders?
This lists all of there fees. i was more concerned about the execution time. I havent been trading lately so I havent signed up yet, plan to soon though
-------------------- I'd just like to retire at 26.
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