|
|
Compare Zecco versus ChoiceTrade: which brokerage house to choose?
|
|
|
- Stocks and ETFs: 10 free stock and ETF trades per month with $25K min. account balance OR if you make 25 trades/month
- $4.50 per stock trade (if not meeting above requirements)
- Options: $4.50 plus $0.50 per contract
- Mutual Funds: $10
- 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 account: $0
- All Zecco fees
|
- Stocks and ETFs: $5
- Options: $5 plus $0.55 per contract
- Direct Access trading: $0.005 per share, $1 minimum per trade
- Mutual funds: $25 per trade
- Investment products: stocks, options, mutual funds, ETFs
- Minimum to open account: $0 for cash account, 2,000 for margin account
- All Choicetrade fees
|
|
|
- Free/very low commissions
- No account minimum or inactivity fees
- Virtual trading environment
- Forex trading
- Free dividend reinvestment
- Great investing community
- Minimum to open account: $0
- No surcharges for large orders, penny stocks and extended hours trading
|
- Very low commissions and fees
- No account minimum or inactivity fees
- No extra charges for large-sized orders or stocks below $1
- Direct access trading with lowest commissions
- Free paper/virtual trading
- Investor community
- Very good customer service
- Powerful trading tools
|
|
|
- Annual IRA fee: $30
- No extended hours trading
|
- High mutual fund commissions
- Extended hours stock trades $0.005 per share surcharge
|
Zecco vs ChoiceTrade: Comparison Summary
Zecco and ChoiceTrade are very similar in commissions and fees. For customers with over $25,000 in balance or
making trades with over 1,000 shares, Zecco is a better deal.
Choicetrade's Direct Access plan
is great for active traders who make a lot of trades of up to 1,000 shares.
Zecco and ChoiceTrade have no inactivity, maintenance or hidden fees. They don't charge additional commission for large orders,
penny stocks and, in case of Zecco, on extended hours trading.
If you plan to invest in mutual funds or bonds then Zecco is the way to go. Because of no IRA fee, we recommend ChoiceTrade for any
type of retirement account. Otherwise this is too close to call. Both firms are our
Recommended Brokerage Houses. Since you could open non-IRA account with both
companies in just 20 minutes with $0 and close it with no cancellation fee, you could try both firms and pick the one you like better.
|
|
|
|
|
|
|