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| mathwizard |
 Posted: Fri Sep 22, 2006 7:32 am Post subject: Zecco - free stock trades |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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On Oct 9, Zecco will offer free stock trades.  It seems interesting... how they make money out of it with offering free stock trades. I don't know how long it will last, I am surely playing with small money there. Free is Free!!! 
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Skype backer takes on ETrade with free trades
Morten Lund, the guy who was the earliest backers of Skype is at it again. He has financed Zecco, a start-up that will allow consumers to trade stocks for zero commissions, versus $10 to $20 that many online brokers charge today. Other investors in the company include former Dutch Coca Cola CEO Pier Baarsma and Soren Kenner former chairman of McCann Erickson MRM Europe
CEO Jeroen Veth, a 37 year old entrepreneur and former Merrill Lynch Vice President is heading up the company and contends that most of the old school online brokers spend too heavily on marketing and thus have to charge higher prices. Lund and crew believe that the actual trade costs about $2 and if they can lower the cost of marketing to near zero, they can offer zero commission trading. They will make money with what else - advertising.
"Our model is different. We run a lean operation, use the latest technology and rely entirely on word of mouth, guerilla marketing, viral campaigns and public relations to get the message out. As a result we can look at the $2 per trade as the cost of doing business – and still turn a tidy profit"
Zecco, in company’s own words is at “the intersection where online brokerage meets Yahoo Finance and Myspace,” and offers tools such as free blogging, forums etc. The big question is can they make it happen? My gut says that there will be some who will be attracted to this service because of its free nature.
Others will show up at the service because of the forums, and the community, and many are already looking for options to Yahoo Forums. In the long run this could cause old school companies to look at their own pricing structures hard and lower their prices. But can Zecco be the next ETrade, well not sure about that. What do you think?
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| mathwizard |
| Posted: Fri Sep 22, 2006 11:49 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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| You can sign up now, but the free trades will be available next month. |
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| mathwizard |
| Posted: Wed Sep 27, 2006 6:11 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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| I guess no one is interested in this. I doubt myself that it will last for long... |
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| Im Not Warren Buffett |
| Posted: Wed Sep 27, 2006 7:50 am Post subject: |
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CFO
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| Free trades sounds good in theory, but does it mean that you get nothing from them other than that? Do they skimp on customer service, making it difficult to resolve problems? I'm also going to assume that they don't offer many features that you get with other brokerage accounts like streaming quotes and the like. |
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| zerolikedis |
| Posted: Wed Sep 27, 2006 8:15 am Post subject: |
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Investing Manager
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| just looked over it. preety colours . but it looks too hip to get serious investors. well take that back, i wouldnt feel comfortable putting 5000 in an account there. i cant speak for anyone else |
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| mathwizard |
| Posted: Mon Oct 09, 2006 8:37 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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| esquire415 |
| Posted: Mon Oct 09, 2006 8:57 am Post subject: |
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Investing Manager
Joined: 02 Jun 2006
Posts: 321
This Month: 0
117363.53 e$
Net worth: 117,363.53
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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I think it's cool. No more broker fees! It's going to be real barebones but that's not a problem. Just open another account with a different broker that has all the features you want but doesn't charge inactivity fees like Scottrade or TradeKing. Then use Zecco to make the trade.
I haven't been to the site yet but do they have trailing percentage stops, logical orders, trade triggers and such?
BTW, next time you know...Yahoo or Google will snatch this company. |
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| Monte |
| Posted: Wed Oct 18, 2006 4:17 am Post subject: |
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Investing Associate
Joined: 21 Jan 2006
Posts: 30
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Location: Estonia
9929.78 e$
Net worth: 9,929.78
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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| Yeah, I thought to join in too, but 5k is too much for me. Can't find a broker which would allow to trade with less capital and doesn't charge a h*ll out of me. |
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| mathwizard |
| Posted: Wed Oct 18, 2006 7:40 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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| Monte wrote: | | Yeah, I thought to join in too, but 5k is too much for me. Can't find a broker which would allow to trade with less capital and doesn't charge a h*ll out of me. |
I thought the minimum funding is $2500.00. |
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| Im Not Warren Buffett |
| Posted: Wed Oct 18, 2006 7:56 am Post subject: |
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CFO
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| Monte wrote: | | Yeah, I thought to join in too, but 5k is too much for me. Can't find a broker which would allow to trade with less capital and doesn't charge a h*ll out of me. |
Scottrade has $7 trades and you only need $500 to open an account. Where were you looking? |
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| zerolikedis |
| Posted: Mon Nov 20, 2006 6:58 am Post subject: |
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Investing Manager
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bump has anyone been using this yet
btw . mutual fund trades are $10 there
the min to open is 2500 |
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| esquire415 |
| Posted: Mon Nov 20, 2006 7:52 am Post subject: |
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Investing Manager
Joined: 02 Jun 2006
Posts: 321
This Month: 0
117363.53 e$
Net worth: 117,363.53
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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| Monte wrote: | | Yeah, I thought to join in too, but 5k is too much for me. Can't find a broker which would allow to trade with less capital and doesn't charge a h*ll out of me. |
TradeKing and SogoInvest do not need a mimimum to open an account.
TradeKing charges $4.95 commission
SogoInvest charges $1 to $3 commission
SogoInvest has incredibly fast customer service. They responded quickly with my email questions. Zecco took more than 24hrs to respond. Both do not offer conditional orders such as trailing stops and bracket orders. However, they have stop limit orders. Not sure if there is maximum number of shares you can buy for penny stocks, forgot to ask that one. If only Zecco has trailing stops, they would have been perfect! (oh, and of course cheaper trades for ANY mutual fund...otherwise I'll keep Scottrade for those which is free for most mutual funds). Zecco makes money thru advertisements, ala AOL. |
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| zerolikedis |
| Posted: Mon Nov 20, 2006 8:08 am Post subject: |
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Investing Manager
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| SogoInvest looks credible (not gimicky like zecco) . please chime in with reviews when uyou guys have time. thanks |
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| mathwizard |
| Posted: Mon Nov 20, 2006 3:33 pm Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
107.86 e$
Net worth: 26,268.06
Portfolio Value: 26,160.20
Monthly Return: -19.17%
Trades this month: 0
Churn Rate: 0.00%Items
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| Today I applied for a new account. Let's see how it goes. |
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| zerolikedis |
| Posted: Fri Dec 01, 2006 4:25 am Post subject: |
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Investing Manager
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any update yet Mathwiz??
i am going to open the zecco account pretty soon |
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