Zecco Trading Broker Review 2012 - Online Stock Brokerage Providing Low Cost Stock Trades
Zecco Trading is an online stock broker that offers low cost stock trading, discount options pricing and a powerful and easy-to-use trading platform.
Zecco Trading Stock Broker Review
We believe that Zecco is a good choice for many investors and traders and you should give them a try, or you might regret it. It is worth the try because it offers great services at reasonable prices. Sometimes people consider the price to be the true indicator of quality, which isn't always true. ZEC proves that you can get great quality services without having to shell out a huge amount of money for it.
Very Positive - Besides low costs for stock trading a special feature is browser add-on, which allows you to surf sites like Yahoo!Finance and MarketWatch, do the research and trade without leaving the site.
Could do Better - While community module still lacks some credibility, it would be nice to have some more in-depth research tools and services available, even if provided from third party sources.
In the arena of online trading, Zecco has made its mark by staying ahead of its competitors and continuously providing its investors with unparalleled top notch services. The first thing about ZEC that catches your eye is its bright fuchsia color theme, but ZEC is much more than a fun colored online trading broker. Zecco is one of the highest quality low-cost stock brokers you can find around, providing you access to stocks, options and Forex trading. If one would have to pick top reasons why to choose ZEC for trading, it is definitely because of low costs without any minimums, because of free powerful trading tools which help you identify trading opportunities, because of responsive customer service you will not find anywhere else, and least, but not last, because of their revolutionary investing community, allowing you to follow top performing traders and gain out of that.
You can open an account with ZEC in a flash as there is absolutely no fuss over lengthy forms or papers that have to be mailed. The account application process is extremely fast and impressive. It takes about thirty minutes for the approval of the account, after which you can use all the features and functions of ZEC's website. You don't even have to deposit any money to open a trading account with ZEC.
Commissions & Fees
If you will decide to trade with Zecco, you will get one of the best values in the brokerage industry when it comes to commissions and fees related with stocks and options trading. Compared to some of the top leading online brokerages Zecco offers you between 30% and 50% lower online trading costs on stocks and Exchange Traded Funds and not only that, there is no account opening minimum and no account maintenance/inactivity fee. If you will place your order through their trading customer service, there is a flat fee added to the base commission. You also have to pay something extra per share if trading outside of regular trading hours.
ZECs trading platform is fully featured and will satisfy even high demanding users, while staying very intuitive for the novice traders at the same time. It is very beneficial to being able to trade stocks, ETFs, options and mutual funds from a single dashboard. Order mask opens for you on the top of the screen to make it at your fingertips for fast and effortless filling, while having research and monitoring data on the screen as well. Integrated quotes, charts, news, alerts, and watch lists are synchronized in real-time so you are always dealing with up-to-date portfolio information, also during the trading session.
You will find several order types available. Besides classic market, limit and stop orders, Zecco is offering you some very popular conditional orders, like one cancels others (OCO), one triggers others (OTO), bracket and contingent, and advanced order types: trailing stop orders, market on close (MOC), limit on open (LOO), fill or kill (FOK), all or none, and many more.
Not all stock brokers provide extended hours trading, but Zecco does. You can trade pre-market between 8:30 AM (ET) or post market between 4:05 and 5:00 PM (ET).
If you have ever dreamed about how nice it would be to be able to follow best traders on their move, your dream will become truth with Zecco. You can search for best performers of a kind you are looking for on ZeccoShare and follow their real trades as they happen. Even more, you can communicate and discuss with others investment opportunities, trading strategies, portfolio optimizations or just pick up a few trading tricks from them. It is a huge knowledge database, especially valuable for beginners.
Zecco is offering its customers an extensive range of free trading tools, which help them identify, analyze, trade and monitor trading opportunities. You will find a good stocks, options and retirement planning education module on their website also.
For identifying purposes you can choose among stock, mutual funds and ETF screeners. Stock screener has over 50 search criteria, while mutual funds and ETF screeners have over 30. You can save your screens, share them with community, and create alerts and watch lists directly out of the screener results.
For analyzing purposes you can read an stock research outlook for over 1000 publicly traded companies, provided by authoritative sources. Technical analysis is easy to do with customizable interactive charts and over 30 chart overlays and indicators. You might get a trading idea from top gainers/losers across top exchanges also.
A very interesting browser plugin, so called Zap Trade, can be installed on your computer. Its purpose is to detect stock symbols on sites you are surfing, enabling you to get a quote and place a trade in seconds, without ever leaving your research site.
Among monitoring tools a free real-time streaming quotes module is a must. It provides last quote and current bid ask for 1,000 most traded securities on BATS exchange. Upgrade to paid version of Zecco Streamer is possible for a reasonable monthly fee. If you are an iPhone user than Mobile Lite version will provide streaming quotes, charts, portfolio and watch lists on your device.
If you are not one of those enthusiasts seating in front of computer whole day, you will love the stock and market alerts module, which notifies you about stock price and volume triggers or analysts upgrades/downgrades on your email or SMS. You can even monitor real-time alert on Twitter.
Another interesting tool Zecco is providing is Breakfast Bell Newsletter, which summarizes bullish and bearish news driven information for you, together with own proprietary community sentiment indicator.
Zecco has an extensive FAQ module on their website, including 'How To' video tutorials. If you don't find your question already answered, there are many ways to get representative's support. Full team is available to you between 8:00 AM and 7:00 PM (ET), from Monday to Friday, while chat and email support has even more extended working time. They also offer chat support for those who don't feel like talking, but still looking for instant response.
Security of customers' assets is one of the top priorities of Zecco Trading. Each trading account is insured by SIPC (www.sipc.org), allowing customers to claim up to $500,000, including a maximum of $250,000 in cash. Supplemental insurance policy was purchased by Lloyd's of London, just in case SIPC limits are exhausted, additionally up to $600,000 (securities and cash together).
Another area where security is very important is internet and website traffic. Zecco has all modern security measures in place to protect loss or abuse of your information, like for example 128-bit Secure Socket Layer encryption, encrypted cookies, state-of-the-art firewall, and others.
There are also some security features integrated in the trading platforms, like inactivity sign out. You should log out and lock your operating system when you go away from your computer. If you are not active for certain period of time, the system will automatically sing you out. Another security measure is provided by manual and automatic monitoring of unusual transactions and access attempts.
The information and opinions in this review are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency and/or opening of an account with Zecco Trading or Zecco Forex.
How Others Rate Zecco Trading?
Here is how the most trustworthy external sources rate this broker. Best rating is marked with 5 orange stars, worst rating is marked with 5 grey stars, and if any feature is not rated you will see white stars with grey border.
Legend: Not Rated: Worst Rating: Best Rating:
|Commissions & Fees|
|Research & Analysis|
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Written by: Goran Dolenc