Zecco is Offering 20 Free Trades
You may know that I tend to focus on long-term investing through index funds and ETFs, but I also like to do a little trading on the side. For obvious reasons, any trading is done with non-essential assets and won’t negatively impact my retirement if I make a few trades. With that being said, one of the biggest problems with trading individual stocks are the commissions. The more you trade, usually the more you pay.
One way I’ve found to keep my trading costs low was to use Zecco for my stock trading. Zecco already offers 10 free stock trades a month and otherwise very low trading costs, but for a limited time they are offering new customers 20 free stock trades in addition to the rest of their account features!
This has been a great tool for me this year because I’ve been buying a lot of quality stocks in the past few months and have made some nice money on the recovery. I’ve had good luck with a few companies such as GE, INTC, and ABT. In fact, some of those proceeds will be covering some of the down payment on our new house. We didn’t plan on that, but I’ll happily take my profits and run while I can. But thanks to Zecco there is even more money in my pocket since I’m not handing it over for trading fees.
Zecco Trading is offering 20 free stock trades — a $90 value — to all new brokerage customers who sign up by Sunday, September 13th 2009! Use promo code “bonus1” to qualify.
These free stock trades are special, because you have a whole 90 days to use them. Some other brokerages give you free equity trades to use within 30 days of signing up, so by the time you transfer money into your account, the free stock trades might have expired! With Zecco Trading, you have more time to use your free stock trades when it makes sense to trade.
Plus, these trades are completely additional to the 10 free stock trades Zecco Trading customers can earn every month when they keep a balance of $25,000 or make 25 free trades per month. And stock trading commissions at Zecco Trading are a low $4.50 each.
Be sure to use the promotion code “bonus1” when signing up. Be sure to use all lowercase or the code won’t work.
Special terms and conditions:
- New Zecco Trading accounts must be opened and approved by Sunday, September 13th, 2009.
- The 20 free stock trades will be granted on or before September 16th, 2009. The free trades will expire 90 days after the date they are granted.
- Offer not eligible to existing Zecco Trading customers.
- Limit one bonus per household.
Join Zecco Trading and get 20 free trades with bonus code “bonus1“
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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.
I would say Zecco giving great deal 20 free stock trades is an outstanding offer and still ever not found such beneficial deal.
If I may, let me offer something to keep in mind whenever you see "free trades" offers.
Disclaimer - I trade my own funds for a living (not a day trader), so I may have a different perspective than most.
I never (repeat, NEVER) shop around for a broker for commission rates. I am more concerned with the fill price of my orders. Imagine if you and I are buying 100 shares of IBM at the same time. If my order gets filled at $99.50 and you get filled at $99.55...that extra 5 cents equates to $5 on our overall cost. Imagine if we're both buying 200 shares - then that difference is $10...and if we're buying 1000 shares, then that difference is $50. Which wipes out any perceived benefit of getting the commission-free trades!
Does this happen? Hmmmm.....well, let's put it this way....I have two separate internet connections in my office and have multiple brokerage accounts. About every six months or so, I do a test where I place a market order for x # of shares of IBM with one very well-known brokerage...and simultaneously place the identical order with another very well-known (among traders) brokerage. I press enter at the same time for the orders. One would think that the NBBO would ensure that the price paid would be very very close....however, 9 out of 10 times, the very well-known brokerage gives a higher buy price...and a lower sell price whenever I run this test.
Keep in mind - there is no free lunch.