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Compare OptionsHouse vs Zecco: which brokerage to choose?
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OptionsHouse vs Zecco Commissions and Investments Offered
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- 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
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- 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
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- Lowest stock commissions in the industry
- 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 and inactivity fees
- Free check-writing privileges
- No surcharges for large orders, penny stocks and extended hours trading
- Very low margin rates
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- Annual IRA fee: $30
- No extended hours trading
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- Might not be the best for beginner investors
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Zecco or OptionsHouse: Comparison Summary
Optionshouse and
Zecco are the cheapest
flat-rate brokerage firms in the industry. Optionshouse offers lower trading costs than Zecco if you have
less than $25K in your account OR make over 30 trades per month. Otherwise, Zecco is better priced.
Zecco is a better choice for a brokerage for
beginner investors. The firm offers helpful
community where newcomers could ask questions, learn from more experienced traders and even get investment ideas.
Unlike Zecco, OptionsHouse has no annual IRA fee - it's a plus if you are looking for a
fee-free IRA account. In fact, OptionsHouse is one of our
recommended brokers for a retirement account.
For a regular, non-IRA account, it's a close call. Both brokerage firms are great!
We would go with OptionsHouse, since they offer 100 free trades for new customers (promotional link below).
Non-IRA accounts have no account closing fee, which means that you could very easily and for free open accounts
at both firms (in Zecco with no money down, with OptionsHouse you'll need $2000) and see for yourself which
brokerage you like better.
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