Maybe you joined your investment website because of those hilarious Super Bowl monkey commercials from a few years back. Or maybe youâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢re a âˆšÂ¢â€šÃ‡Â¨â‰ˆÃ¬Law & OrderâˆšÂ¢â€šÃ‡Â¨Â¬Ã¹ TiVo freak and have a thing for TD AmeritradeâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢s Sam Waterson.
Everyone has tried to push themselves as the alternative,âˆšÃ‡Â¬â€ affordable andâˆšÃ‡Â¬â€ expert source for D.I.Y day-trading, but Zecco actually has some features that differentiate it from the pack. With $0 trades, a cool community section and a design thatâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢s refreshingly less stiff than a Wall Street suit, the investment newcomer has a lot going for it.
Zecco stands for âˆšÂ¢â€šÃ‡Â¨â‰ˆÃ¬Zero Commission Cost,âˆšÂ¢â€šÃ‡Â¨Â¬Ã¹ and it works like this: If youâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢ve got at least $2,500 in your account, you get 10 free trades per month. If you havenâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢t reach that portfolio threshold, trades are only $4.50. Above and beyond its bread and butter trades, Zecco also accommodates calls and puts, strangles, butterflies and other fancy financial strategies, and provides all the necessary tools and resourcesâˆšÃ‡Â¬â€ in house.
In addition to its bargain pricing, Zecco also offers a community for investors called ZeccoShare, where users can blog, compete against each otherâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢s portfolios, join groups and contribute to threads. Think of it as a boiler room happy hour without the $17 martinis.
Blogosphere reviews of Zecco have been mostly favorable, with a few grumbles andâˆšÃ‡Â¬â€ complaints about the customer service level and money transfer time. In fact, Smart Money Magazine’s 2008 Broker Survey ranked ZeccoâˆšÂ¢â€šÃ‡Â¨â€šÃ‘Â¢s customer service the worst. But most say the low-cost service and easy sign-up more than makes up for this. And being a little guy comes with certain advantages; for example, Zecco dropped commissions for all trades in October because of the sinking economy.
Your move, E*TradeâˆšÂ¢â€šÃ‡Â¨Â¬Â¶