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Zecco is Free Stock Trading

Most families at this point have a stock brokerage account. There are two types, full service and discount brokerage. A lot of families used to have old line full service brokers like Merrill Lynch and Bear Stearns, but for the most part investors have turned to discount brokers to invest in stocks.

For the last 10 - 15 years some big names have dominated the discount brokerage landscape, including names like Ameritrade, Etrade, Charles Schwab, Scottrade and TD Waterhouse. There's a good chance you are familiar with one of these names. Either your household use one of these companies or you have a friend or family member who does. There ads are in magazines, radio commercials and TV spots. The big push is that you can get cheap trades for your stock investments and not pay much in commissions. The commission rate for the discount brokers usually ranges from $7 to $30, depending on the type of trade.

Starting about a year ago the whole scene for discount stock brokerage changed. Zecco is a new discount broker that charges zero dollar commissions, for up to 10 trades each calendar month. Sounds too good to be true? I thought so, too. I have been using Zecco for almost a year now, and the company's policy is honest. Is there a catch? No, but there are a few conditions. Mainly, you must open your account with a minimum of $2500. The types of trades must be within the normal limits of trades, so no exotic trading is allowed. Plus, you can't trade the same stock several times in one day. That's day trading, and Zecco has some stipulations on that.

Most people do not fall under any of those categories. If you trade stocks from time to time, especially if you only trade a few times a month, then you should consider Zecco. There is no reason to keep paying Ameritrade $12 a trade or Charles Schwab $29 a trade, when you could trade those same common stocks for no commission.

If you or your spouse trade stocks then take a look at Zecco. Using the other discount brokers will waste money you could spend on something else.

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