ZECCO - trading with $0 commission

[cumulina]

Did I get your attention? 

I'm wondering why this new broker has not been mentioned here on 3SOF yet?

Web-site here:

http://www.zecco.com/Default.aspx

It has been mentioned several places, for instance here:

http://247wallst.blogspot.com/2006/10/zecco-launching-zero-commission-stock.html

I guess that if they don't have to build grand palaceses in glass and marble, can have a limited staff and all transactions are done via the internet, they can really keep costs down.

As far as I can tell, you get 40 free trades pr. month - that would probably be enough for most traders here?

I'd be really interested in hearing from others if you have any experience with them?

[David Randolph]

Did I get your attention?

You sure did

I'm wondering why this new broker has not been mentioned here on 3SOF yet?

I guess nobody knew it yet. But they'll know now, because I'll send it on tomorrow's newsletter. I think I'll open a small account at www.zecco.com to see if it really works as they say.

I guess that if they don't have to build grand palaceses in glass and marble, can have a limited staff and all transactions are done via the internet, they can really keep costs down.

As far as I can tell, you get 40 free trades pr. month - that would probably be enough for most traders here?

It's more than enough for me.

I'd be really interested in hearing from others if you have any experience with them?

Well, no, not yet.

Your previous link doesn't work because of the aspx extension (don't know why), the correct link is www.zecco.com. This is a very interesting business model, it can kill "traditional" online brokerages.

Thanks a lot for the heads up cumulina, applaud

[Se7en]

David, can we use American brokers here in Europe? Right now I'm doing all my trades through a bank and it costs me about 25-30€/trade, which is a lot so I was wondering if it's possible to open an account with Scottrade or some other American broker, don't know if it's possible though and don't want to take much risk with transferring my funds ...

[la-onda]

it´s definetly working with ETRADE US (www.etrade.com) in Europe; 9.99 $ per trade 

[David Randolph]

David, can we use American brokers here in Europe? Right now I'm doing all my trades through a bank and it costs me about 25-30€/trade, which is a lot so I was wondering if it's possible to open an account with Scottrade or some other American broker, don't know if it's possible though and don't want to take much risk with transferring my funds ...

Scottrade isn't prepared for European costumers (at least not the last time I checked). Ameritrade doesn't accept European costumers anymore (how stupid they are). Yes, La-onda is right, e-trade accepts European costumers, interactivebrokers also and most others accept Europeans.

You're throwing money away trading US securities from a bank, you need to open an account at a US online broker like e-trade or IB or any other (perhaps Zecco ). I don't see any risk transferring the money, I've done it several times without any problem (well, sometimes it takes a bit longer, or you make some mistake and the money comes back, but don't worry, of course the money won't disappear).