Cheap? No. 100% Free. Trade stocks for free on Zecco.com. The Free Trading Community. www.zecco.com. If you are a first time trader like me and do not want to deal with fees, then open a brokerage account with Zecco. Eventually, with more money accumulated, I want to take the next leap into buying and selling stocks.
Here are the goodies with Zecco:
- 10 free stocks trade each month
- # Options: $4.50 per trade / $.50 per contract, including complex options.# No minimum IRAs with options trading privileges.# Accounts protected by the Securities Industry Protection Corporation (SIPC).
# No minimum to open an account.
# Low margin rates. 7.45% APR until April 30, 2008 for debit balances of $25,000 or greater.
- you must fund with $2500, but there is no maintenance fee or minimum requirement.
Once you apply online, they will send you a user id and password. With your account approval via email, you are ready to fund your account. You can fund your account by linking your bank account and verify the two deposits. I recommend to get a money market sweep request form in order to earn good interest money for your cash sitting in your account.