Etrade vs Zecco: Commissions, Fees and Investments
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- Stocks and ETFs: $9.99 if 0-149 trades per quarter; $7.99 if 150+ trades per quarter
- Options: $9.99 plus $0.75/contract if 0-149 trades per quarter; $7.99 plus $0.75/contract if 150+ trades per quarter
- Mutual Funds: $19.99
- Futures contracts: $2.99 per contract, per side + fees
- Investment products: stocks, bonds, mutual funds, futures, options, ETFs
- Minimum to open Etrade account: $2,000 for margin account. For securities accounts (except retirement accounts), an account minimum deposit of
either at least $500 in cash or a deposit of securities is required within 60 days of account opening for the account to remain active. There is no initial minimum deposit requirement for retirement, custodial, or employee stock plan accounts. Accounts not meeting the minimum deposit requirement will be closed after 60 days.
- All Etrade 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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Etrade vs Zecco: Pros
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- Very good trading tools
- No IRA account fees, no minimums with electronic statements and confirms
- Minimum to open: $1,000 for cash account, $2,000 for margin account
- Banking products: checking, savings, money market accounts, CDs and credit cards
- No surcharges on large orders, penny stocks and extended hours trading
- Great research amenities
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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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Etrade vs Zecco: Cons
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- High commissions on all investment products
- High margin rates
- Customer service complaints
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- $2 per trade surcharge on penny stocks
- $30 annual IRA fee
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Zecco vs Etrade: Comparison Summary
Etrade (Etrade Review)
offers commissions on stocks and ETFs that are twice as expensive as
Zecco's (Zecco Review): $9.99 per trade versus Zecco's $4.95 per trade.
Mutual fund transactions are $10 at Zecco and $20 at Etrade. Both firms don't have account maintenance and inactivity fees as well as
surcharges on extended hours and large-size trades. Zecco charges $2 per trade more on penny stock orders.
Etrade doesn't have IRA setup and annual IRA fees but it did not made it into our list of
Best IRA Brokers in 2012. The firm offers its customers very good trading tools,
independent research and customer service.
With Zecco clients could open account with no money down in as little as 15 minutes. The firm offers access to Forex, free
dividend reinvestment and streaming quotes as well as helpful online community, where users
could ask questions, learn from more experienced traders and even get investment ideas. Zecco is a much better
Broker for Beginner Investors than Etrade.
In 2012, Zecco did not made it into our list of Best Online Brokers.
Based on drastically lower commissions and more free services, we recommend Zecco to all investors.
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