Zecco vs SpeedTrader: Commissions and Investments 2012
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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
- Zecco login
and Zecco referral code
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- Stocks and ETFs Per Trade: $6.95
- Stocks and ETFs Per Share: $0.0039 per share, $0.99 min per trade
- Futures Trades (Electronic): $1 per contract (plus exchange and NFA fees)
- Options Trades: $1 per contract
- Bonds Trades: $50 per ticket
- Mutual Funds: $50 per trade for no-load mutual funds
- Investment products: stocks, options, futures, futures symbols, no-load mutual funds, Forex, bonds, ETFs
- Minimum to open SpeedTrader account: $0 for cash account, $2,000 for margin account
- All SpeedTrader 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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- Low commissions for very active traders
- Free streaming real-time Level I or Level II quotes
- Professional trading platform
- Free intra-day charting
- Virtual trading
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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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- $30 Quarterly Inactivity Fee (if under 15 trades)
- Steep software fees
- High mutual funds commissions
- $35 annual IRA fee and $25 IRA set-up fee
- Option exercise or assignment $30 each
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Zecco vs SpeedTrader: Comparison Summary
When comparing flat rate commissions, Zecco (Zecco Review) offers some of the
best prices in the industry: $4.95 per stock/ETF trade and $10 per mutual fund transaction.
Speedtrader (Speedtrader Review) charges more expensive,
$6.95 per stock/ETF trade and very steep $50 per mutual fund transaction.
Zecco offers its clients free dividend reinvestment and streaming quotes, as well as
access to Forex trading. Unfortunately, the firm has a small, $2 per trade surcharge on penny stock orders and $0.005 per share surcharge on extended hours trading.
The biggest disadvantage of SpeedTrader is that you need to make at least 15 trades per quarter or otherwise you'll be paying
$120 ($155 for IRA) a year to maintain account at SpeedTrader.
Zecco created a helpful online user community, where users could ask questions, learn from more experienced traders and even
get investment ideas. We rated Zecco as one of the best brokers for beginner
investors. Zecco, however, in 2012 did not make it into our list of
Best Online Brokerages.
Out of the two discount online brokerage firms, we definitely recommend Zecco to all investors.
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