Zecco Holdings Review
About Zecco :-
Zecco is an acronym for Zero Cost Commission. They have been in the market for quite some time and they started off in the year 2006. They operate from San Fransisco , California. They were popular among the traders for their offer which now they have withdrawn, of ten free trades per month. They also boast of online social network of traders from ZeccoShare.
Offerings at Zecco:-
There is no fee for opening an account neither is there any balance needed to open an account with Zecco. They charge a modest four dollars and ninety five cents for trades, have excellent care team for their customer and to add to the whole network of information there is a ready social community available for sharing their information and strategies to tame the market.
Advantages being associated with Zecco:-
- Their economical price of four dollars and ninety five cents per trade
- A wide network of Zecco traders to share information and strategies to make informative buying and selling
- Their care team is available round the clock twenty four by seven
- The ability to follow “Start Performers” on Zecco through ZeccoShares. This gives you the ability to track portfolios and follow your favorite traders also you can shadow their moves and be as successful as they are and all this comes with no cost except having an account with Zecco
- The trades are decently priced, they have an community experience and they also have Zap trade their innovative trading platform that gets you the desired trade at the click of a button
Challenges with Zecco:-
- There are no level II quotes available on Zecco
- Zecco mobile trading is not available on Blackberry and Android phones
- Tax planning is not a free service
- Performance reporting is not a free service
Zecco vis a vis others in the industry
Zecco still is among the most economical brokerage providers among the online brokerages in the industry. It provides trading at a competitive pricing of four dollars and ninety five cents per trade.
Zecco prides in the community experience it offers. Other services offered by Zecco are very much comparable. Zecco is somewhere in the middle segment of online brokerages but the community experience offering at Zecco takes it up few notches. Their low price as compared to the market makes for the icing on the cake.
Zecco is value for money if you are into some serious trading, since it offers economical prices and services that are good. It’s still has a long walk to do for educational research, but the social networking makes up for it. With networking you can see what others are doing and improvise your strategies and can also share your strategies with others.
Deep down analysis of Zecco
- How to open an account with Zecco
- Time taken to open an account is a simple three step process.
- Opening an account does not take more than ten minutes of your precious time
- You can deposit money in your account through a variety of means including check, wire transferring from other brokers.
- All facilities which are available at other brokerages are also available at Zecco for getting money in your account. Zecco charges one hundred and fifty dollars for account transferring fee.
- It would be advisable to pick an attractive user name as this would appear when you would participate in community forums
Pricing and Commissions in details:-
- Stocks are traded at four dollars and ninety five cents per trade – Stocks which are less than or equivalent to one dollar per share are six dollars and ninety five cents
Options are traded at four dollar and ninety five cents per trade and an additional sixty five cents per contract
- Trades which are assisted with the help of a broker are nineteen dollars and ninety nine cents
- Zecco’s pricing are economical, competitive and easily understood
- Forex spreads as low as 0.7 pips for major pairs
- Margin rate is at four point five percent
Types of investments being offered at Zecco :-
- Stock investing
- You can invest in Options
- Mutual Funds
- Exchange traded Funds
- Foreign Exchange
- Education Saving Plan
- Retirement accounts
- Above all it provides an easy investment to Spot Gold and Spot Silver
Zecco interface is user friendly and easy to use
Zecco provides Zap trade wherein you can search for your stock, do research and invest at the click of a button. It makes trading a pleasure. Apart from Zap trade the trading platform is good but not state of the art. It works on your browser and provides you with the necessary tools to carry out the trade.
Trading tools on Zecco:
- Great tools for trading options positions like calls, puts, straddles, condors
- Real time quotes with no extra cost
- Educative Research reports from Standard and Poors.
- Social network community integrated in their platform
It offers a host of options like
- Chatting with other Zecco users
- Share trading strategies
- View trades of other Zecco users
- Share your own trades with others
Customer support at Zecco:-
Customer service has improved in Zecco with time. Live chat was offered in 2009 bringing more adaptability to their customer care. Their representatives are available round the clock to provide you with the support that you need to understand the platform and the prices and commissions, along with any other additional help.
Recognition through awards to Zecco for its service:-
- Zecco has been awarded three stars in customer service by SmartMoney in the year 2009
- Zecco has also won three starts by Barrons Review for the year 2009
Zecco provides you with most economical prices in the market. Zecco is also one of the brokerages providing the most of the competitive prices. The unique selling proposition of Zecco is the community offering it provides giving a feeling that there are many support points for any trader, and isn’t that what every trader wants – “A second opinion” on the trades that he will invest in – Zecco provides it and that makes Zecco one of the most sought after brokerages.