Zecco Trading

FernandoTorres

Hi,

I'm looking to set up a trading account with Zecco initially putting in about €5,000. Has anyone else here set up an account? Was it difficult to set up and is there anything I should know before I set up an account?

The fees are a fraction of what you'd pay to an Irish/UK broker so just wondering is it too good to be true!?

Thanks.

neris

its easy enough to open an account with them .I opened one afew weeks ago but havent traded yet due to lack of funds. All the forms to filled in or sent can be done through their website which is handy for opening the account. They have some good tools on there aswell for research and alerts. from looking through their forums some people seem to have had issues where they placed orders but were never filled or the site slowed down.

pirelli

FernandoTorres wrote: »

Hi,

I'm looking to set up a trading account with Zecco initially putting in about €5,000. Has anyone else here set up an account? Was it difficult to set up and is there anything I should know before I set up an account?

The fees are a fraction of what you'd pay to an Irish/UK broker so just wondering is it too good to be true!?

Thanks.

No it's all true. Zecco are fine.

However they do not have a platform for which you can trade from. Firstrade have a platform which gives you real time prices .charts etc.. but zecco either don't or charge for this service. I would check that issue with them, just ring them; it's not that expensive. As a broker they are great and will cover margin calls etc.

I would imagine firstrade are better and worth that bit extra due to the platform but Zecco are much better service and will help you out and you can trade a more diverse set of stocks with Zecco.

neris

I think that trade paltform is $20 a month

FernandoTorres

Is it relatively easy to get funds into your account, can you just do it by electronic bank transfer?

pirelli

FernandoTorres wrote: »

Is it relatively easy to get funds into your account, can you just do it by electronic bank transfer?

You wire it from your bank to your ( firstrade account) acccount via Their financial handler. Firstrade have a step by step instructions on how what information to give your bank i.e ABA number and swift code etc and bank name. Wires take a day or two.

Security seems relatively ok.

freeze4real

Firsttrade in my opninom would be good. The only setbaack is that they only trade on the us markets.

FernandoTorres

Had a look at Firstrade and it looks good. Zecco also only trade US markets too though right? Most of what I'm looking at would be US anyway so this wouldn't really bother me.

DC09

Yeah, just US stocks, but its a brilliant platform.
No extra fees for regular stock trading, except to buy/sell (under $5)
Its fairly quick to set up an account surprisingly enough, a lot faster than some of the European ones.
I've been trading with them for 4 months now and all is going well

Wildrover666

They are by far the cheapest I have come across, in fact my trades are free most of the time (I can avail of 10 free trades a month).

The easiest account opening I have experience of, although some-what slow.

The platform is very easy to use, there is also a function where-within you can buy stock via your Zecco account while browsing on Yahoo/ Google Finance etc.

That being said there is a downside, on several occasions during the past year I was unable to log-in, obviously this can be detrimental - apparently this glitch has been fixed and will no longer hinder critically timed trades.

No 'mobile' platform, although they are 'beta' testing such a platform, initially to be released for the iphone, others will follow.

For the most part Zecco are excellent and have become my primary trading account for the past year.

Oafley Jones

I'm trying to open an account with Zecco at the moment and they've requested two further pieces of information. 1. Proof of employment from hr. And 2. Proof of residence in 2003. This last one has me confused, what are they looking for here.

Wildrover666

Two very odd requests there. I've never, while opening any trading account, to provide the firm with proof of employment, it's not required for margin accounts. Source of funds shouldn't be an issue either as I would assume that you won't be dropping off a bag of cash to their office.

My application for Zecco comprised of a copy of my passport and signed application form, I wasn't required to provide proff of address (a first).

They have a 'live chat' support feature which is expedient, I suggest you ask why these oddities are being asked of you.