Mar
20
Zecco: Free Trading and $100 To Top It Off
March 20, 2008 |
Long ago I had opened my Zecco Trading account lured by the Free trading offer. They still hold their promise and offer free trades if you hold a balance of more than a few thousand dollars. My initial visit to the website found it very cumbersome to handle. Way to many clicks to find live quotes, and way too many clicks to do a trade. Even funding is a bit cumbersome. The TD Ameritrade interface I am used to is a lot more intuitive, quicker, and easier to use.
Then again, they did noticed I had not funded my account in a while and decided to entice me to trade with them with a $100 offer if I deposited $2,500 or more (sorry, I think the offer was only to those who opened, but had not funded yet). I did took it. The funding took just a few days. Then I decided to do a test trade of Apple (AAPL). Bought for $121 on 2/22, and sold for $132.21 today. A 9.3% in less than a month qualifies as a terrific trade in my opinion, even if it was a small one (in quantity).
Some things I liked about the orders:
- Quick execution.
- They try to get me a good price. My Limit sell order was for 132.15, but they sold for 132.21. Some cheap brokers make money on the spread.
- $0.00 commission. Hard to beat.
The only thing I still don’t like is the cumbersome process for everything. No intuitive menus. Quotes, orders, and charts are all scattered around different places on the interface. Very cumbersome. Difficult to do trades in near real time.
For people with less than $10,000, I think it is a great trading system to start with. For now, I will stay with my primary trading account on TD Ameritrade. However, Zecco got me convinced to keep funding this account for some quick in/out trades where the comision may significantly affect the expected gain.
BTW, they did honored they promise and deposited my $100 bonus.
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[...] Laurel wrote an interesting post today onHere’s a quick excerptLong ago I had opened my Zecco Trading account lured by the Free trading offer. They still hold their promise and offer free trades if you hold a balance of more than a few thousand dollars. My initial visit to the website found it very … [...]
[...] unknown wrote an interesting post today onHere’s a quick excerptLong ago I had opened my Zecco Trading account lured by the Free trading offer. They still hold their promise and offer free trades if you hold a balance of more than a few thousand dollars. My initial visit to the website found it very … [...]