OptionsHouse vs Zecco: Commissions and Investments
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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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- Stocks and ETFs: $3.95
- Stocks and ETFs Broker assisted: $3.95
- Two plans for options:
1. Up to five contracts for $5; each additional
contract $1
2. $8.50 + 0.15/contract (great if trading over 10 contracts)
- Two plans for spreads:
1. Up to 10 contracts for $10; each additional
contract $1
2. $12.50 + 0.15/contract
- Mutual Funds: $9.95
- Orders for U.S. treasury bonds and listed corporate bonds are accepted by phone
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open Optionshouse account: $1,000 for cash account, $2,000 for margin account
- All Optionshouse 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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- Lowest commissions
- Free streaming quotes
- Efficient trading tools
- No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account
- No fee IRA accounts
- No volume requirements, maintenance and inactivity fees
- Free check-writing privileges
- Free DRIPs (complete shares only)
- No surcharges for large orders and extended hours trading
- Very low margin rates
- Free virtual trading
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- $2 per trade surcharge on penny stocks
- $30 annual IRA fee
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- For stocks priced $2 or less that are not options eligible, add $0.005 per share for the entire order
- Shortened extended hours trading: 8:00 am - 9:30 am and 4:00 pm - 5:00 pm EST
- International investors are not accepted
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OptionsHouse vs Zecco: Comparison Summary
Optionshouse (Optionshouse Review) and
Zecco (Zecco Review) are some of the cheapest
flat-rate brokerage firms in the industry. OptionsHouse offers stocks and ETFs for just $3.95 per trade and Zecco
charges $4.95 for the same investments. Both companies don't have surcharges on large orders and on extended
hours trades. Zecco has a small, $2 per trade surcharge on penny stock trades.
Optionshouse has a surcharge of $0.005 per share on stocks under $2 that are not options eligible.
Zecco offers helpful online
community where newcomers could ask questions, learn from more experienced traders and even get investment ideas
OptionsHouse is a better choice for a
brokerage account for beginner investors: the firm provides
access to virtual trading environment, where users could simulate trading with fake cash without risking their hard-earned money.
Unlike Zecco, OptionsHouse does not have annual IRA fee - it's a big plus if you are looking for a
fee-free IRA account. In fact, OptionsHouse is one of our
recommended brokers for a retirement account.
In summary, most investors would be better off with Optionshouse: lower commissions, virtual trading and presence of free extended
hours trading. It's our Top Brokerage in 2012.
The firm is also offering 100 free trades for new customers (promotional link below).
Non-IRA accounts don't have account closing fee, which means that you could very easily, quickly (10 minutes each) and for free
open accounts at both firms (in Zecco with no money down, with OptionsHouse you'll need $2,000) and see for yourself which
brokerage you like better.
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