So, a little over a year and a half ago, I decided I wanted to give the stock market a try for myself. I wanted a site that had a low trading costs and a low minimum balance. Enter Zecco.com.
Zecco, which stands for “Zero Commission Cost”, is an online trading community that, like its name implies, offers commission free trades. There are, however, a few guidelines…
Account minimum of $2,500
10 free trades a month
Update: As of March 2009, the minimum balance was raised to $25,000 to get 10 free trades a month.
Accounts that do not meet these guidelines or for every trade after your first 10 are $4.50 a trade which is still lower than most sites that I am aware of.
Other than a few minor mishaps, my experience with Zecco has been excellent. The site seems like it was built to teach and inform the beginning investor. The forum is very active and full of members willing to share their knowledge of investing and give their opinions on companies. The community side of Zecco also allows, but does not obligate, users to share their portfolios and daily trades.
I would highly recommend Zecco to anyone who wants to give the stock market a try for themselves.