Zecco, the company that offers free stock trades is updating the terms under which they offer free trades. The old rules:

  • 40 free trades a month
  • 10 free trades a day
  • $3.50 each additional trade
  • No minimum balance

According to Zecco, “most of our customers (and over 98% of online traders in the US) trade less than 10 times a month”. Based on these statistics, Zecco has updated to the policy below:

  • 10 free trades a month
  • $4.50 each additional trade
  • $4.50 a trade for account balances under $2,500

If you’re a heavy trader make sure to evaluate the $4.50 trades against other low cost brokerages. If you’re an occasional investor, Zecco is still a good spot for you as long as your balance is at least $2,500. Ten free trades a month and $4.50 a trade after that isn’t bad.

Ben :: Oct.02.2007 :: Investing :: No Comments »