As an investor, you need an account with a brokerage to gain access to the financial markets. When choosing a broker, you definitely have a lot of options to consider. Some brokers are better than others and the quality of your broker can make a big difference in how successful you are as an investor. One of the leading brokers in the industry today is Zecco. Zecco offers a lot of features at prices that are superior to what you will find with other brokerages.
A Top Discount Broker
Zecco is considered to be a discount broker because of the cheap rice is that they offer on commissions. With many brokers, you have to pay a fee that is based on a percentage of how much you are trading. With Zecco, you pay one flat fee regardless of how big the order is or your account size. When you buy regular stocks with Zecco, you’re only going to have to pay a flat fee of $4.95 for each trade. This is definitely on the low-end of the market and is quite a bit cheaper than some brokers.
While you pay $4.95 for regular stock trades, you will have to pay a little bit more than that if you want to get involved with penny stocks. For penny stocks, the commission is $6.95 per trade. This is because penny stocks offer a little bit less liquidity and are somewhat harder to come about in the market. In addition to offering stocks, they also offer access to options for a flat fee of $.65.
If you are the type of investor who likes to trade frequently, Zecco is definitely one of the best options in the industry for you to consider. If you were to choose one of the more expensive brokers, the extra commission that you would pay could cut into the amount of money that you have available to trade. This means, you’ll end up buying fewer shares and spending more on brokerage fees. With the power of compound interest, you need to get as much capital invested early on as you can. By using Zecco, you give yourself the best chance to succeed over the long-term.
What You Can Buy With ZECCO
Obviously Zecco gives you access to the stocks that are traded on the major stock exchanges and those that are considered to be penny stocks. However, you can also put your investment capital into other things like ETF’s, mutual funds, bonds, commodities, CD’s, precious metals and even Forex. This gives you a lot of flexibility in what you can invest in and helps you diversify your portfolio. A lot of other brokerages only give you a few limited options like stocks and bonds.
If you don’t have quite enough cash to buy a security, you can keep the leftover in a money market sweep account. This makes it possible to earn a decent return on the money that you have just sitting in your account. It’s a little bit better than what you could earn from a regular savings account.
Doing Your Homework
If you are going to invest with Zecco, or any other brokerage for that matter, you’re going to need to do some research on investments. You can’t simply pick an investment at random from a list and hope to have a realistic shot to make a decent return. Luckily, Zecco offers a number of tools that you can use for your investment research needs. For example, you can use their investment screener to narrow down your options based on specific criteria that you list. They also provide you with access to an options calculator so that you can quickly compute the value of an options contract to you.
Educational Resources
In addition to the research tools, they also offer a number of educational resources that you can turn to when you don’t understand something about the markets. They have detailed tutorials that help you learn the basics of investing so that you can make more informed decisions in the future.
Technology
One of the cool things about Zecco is that they have invested some money in technological advancements so that you can trade easier. One example of this is the Zap Trade feature that they offer. Zap Trade is a plugin that you can download for your Firefox Internet browser. Once you are signed into Zap Trade, it makes it possible for you to place a trade directly from your browser without even navigating to the Zecco site. The plugin even scans the page that you’re on for stock symbols. If there is a pertinent stock symbol, it can look it up in the Zap Trade interface so that you can place a trade easier. This can come in handy if you happen to be reading a piece of financial news and you’re interested in investing in a company or getting a stock quote.
Another example of the technology that they provide is their Zecco iPhone app. With the Zecco iPhone app, you can do research, get quotes, place trades, look at charts and do many other things that you could do on your computer. If you are on the go quite a bit, this can be an invaluable tool to have at your disposal.
Considerations
Zecco puts an emphasis on customer service and making sure that your funds are safe. They are a member of FINRA and they also offer a feature known as a “trade key.” When you login to your Zecco account, you have to enter this trade key before you can place a trade. This makes it possible to prevent anybody who does not need access to your account from placing trades.
If you are looking for a broker and you don’t want to spend a lot of money on trades, Zecco is one of the best in the industry. You can save money on the costs of your investing and help yourself gain access to all of the investment options that you may need access to.
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