OptionsXpress vs Zecco: Commissions and Investments 2012
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- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
- All OptionXpress fees
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- Stocks and ETFs: $4.95
- Stocks and ETFs priced under $1: $6.95
- Stocks and ETFs broker assisted: $19.95
- Options: $4.95 plus $0.65 per contract
- Options exercises and assignments: $4.95
- Mutual Funds: $10
- Forex: spreads as low as 1-2 pips for most major currency pairs
- Bonds: $4.50 per bond, with $22.50 minimum per transaction
- Treasury: $24.50 per transaction
- Investments: stocks, mutual funds, options, Forex, Bonds, Treasury bonds, ETFs
- Minimum to open Zecco account: $0
- All Zecco fees
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OptionsXpress vs Zecco: Pros
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- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free paper trading
- No money down to open new account
- Free account transfers
- Free instructor lead online classes
- Free broker-assisted trading
- Free dividend reinvestment (contact customer service)
- No platform fees
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- Very low commissions
- No account minimum, maintenance or inactivity fees
- Free streaming data
- Free dividend reinvestment
- Great online community
- Could open account with no money down
- No surcharge for large orders
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OptionsXpress vs Zecco: Cons
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- Higher than average commissions on stocks and ETFs
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- $2 per trade surcharge on penny stocks
- Extended hours trades have $0.005 per share surcharge on applicable commission
- $30 annual IRA fee
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Zecco vs OptionsXpress: Comparison Summary
Out of these two online brokerage firms, Zecco (Zecco Review)
offers much better commissions on stocks and ETFs:
$4.95 per trade versus $8.95 per trade
at OptionsXpress (OptionsXpress Review).
Both companies don't have surcharges on large orders and, in case of OptionsXpress, on penny stocks and extended hours trading.
OptionsXpress easily beats Zecco in quality of customer service, ease of use of trading tools and research amenities. The firm
is very friendly and offers lots of services to beginner and buy-and-hold investors.
OptionsXpress has a free virtual trading environment, which is great for beginners who need to improve their skills as well as for
more advanced investors who want to test new strategies without a risk.
Zecco created a helpful online community where users could learn from each other, ask questions and share investment ideas.
Unlike Zecco, OptionsXpress doesn't have annual IRA fees. We rated the company one of the
Best IRA in 2012.
Because of ease of use and huge amount of educational materials, we strongly recommend OptionsXpress to beginner and buy-and-hold
investors and, since there are no fees, for IRA accounts. Zecco would work better for everyone else.
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