Zecco Stock Trading Birthday

Not the very best time (stock prices wise) so celebrate :) but Zecco trading just celebrated their second birthday. So happy birthday to Zecco.

How much interest do I get on my idle funds in my Zecco account?

In this part of Zecco Review I just want to share some info on the interest rate that you get on your cash balance that you have in yout Zecco account. So how much interest will you make? No much, but as fas as I know there are not many stock traders that offer interest rates at all.

If you have $500 or more in your Zecco account, you will receive an annual interest rate of 0.10%.

There is also a chance to move your cash balance to one of five money market portfolios. This will give you higher interest rates that depend on the current rates that each portfolio gives. These money market funds being are managed by DWS Scudder Funds.

So far I have not tried to transfer my buying power to these funds. If I do, I'll report how it goes. If you have any experience with this, let me know.

Where Do I Find Funding And Transfers Options In My Zecco Account?

I forgot to write this in my previous post on "How do you add funds to your Zecco account". You should always check (just in case) if the wire transfer data is still the same as it was. You can find your funding and transfers information if you login into your Zecco account, then go to trading center (upper menu). First you will need to enter your trading key and you will enter your trading center.

Here look to your left menu and find Funding & Transfers option. Click and you will get three tabs in your main screen. Click the first one that says Deposit to Zecco account. Choose the transfer that you want to make and you will get the data you need to transfer funds to your Zecco account.

Zecco Review: How Do You Add Funds To Your Zecco Account?

In this part of Zecco review we will take a look how can you add funds to your Zecco account.

There are three ways to fund your Zecco account:
1. Check
2. By associating your bank with Zecco trading or
3. Wire Transfer.

We will take a closer look at wire transfer since this is the way I funded my Zecco account and this is the most widely acceptable way. You can use wire transfer to fund your Zecco account from almost anywhere in the world. The other two ways are more complicated if you do not live in the United States. So, how do you use wire transfer to fund your Zecco account?

You need to order the money transfer with your own bank. You can do that by going to the bank or you can use their online banking, if the bank has one and if it offers that kind of order. It doesn't matter which way you choose, you will need the following data to fund your Zecco account:

1. The name of the company that does the trading for Zecco:

Penson Financial Services
1700 Pacific Avenue, Suite 1400
Dallas, Texas 75201

The Name of the Bank where they have their account:

JP Morgan Chase
277 Park Ave, New York
New York 10172

The account number:
021000021066600030

or if you like this form better (it's the same as above)
ABA: 021000021
Acct: 066600030

If you are making a deposit to your Zecco account from outside of United States, than you will also need the SWIFT Code of the JP Morgan Chase bank:

SWIFT code: CHASUS33

Now you need to tell Penson Financial Services whos account at Zecco are you funding, so in addition to above data also add:

Your name and your Zecco account number. I also write that these are funds for my Zecco account. Like - John Doe, Zecco acc. number: 07-12345678, funds for Zecco trading.

That is all. Depending on your bank and their speed, you should have the fund on your Zecco account in 2 to 3 days. If it takes longer it is wise to ask your bank if everything went well.

I have so far done 4 such fund transfers to my Zecco account and had no problems at all. So this is how you add funds to your Zecco account. If you have any questions don't hesitate to ask. I'll answer if I can.

Zecco Review: Why should you use Zecco?

The first thing we want to explain in this Zecco Review is - why do we use Zecco trading as our on line stock broker. With the development of the IT technology in the recent decades and with the an ever increasing use of Internet among the world population it was kind of expected for businesses to grab the online possibilities. Among other mortar and brick companies there were also finance companies and stock brokers.

But just why would you use an online stock broker like Zecco instead of an ordinary old and trusted one? This first Zecco review will give you a few ideas:

1. Instant access to information and live data - online all the information that can help you turn into an informed investor are at your fingertips. Live stock tickers, latest trades, company informations, latest news, graphs, analysis... its all there with just a few clicks of the mouse button.
2. Instant stock trade ordering - if you want to be at the right time at the right place and buy that stock you need something simple and fast. Again with online stock trading like Zecco you enter your order with a few clicks and you are done.
3. Low costs - no costs - Zecco offers zero cost stock trades. How come? Well, the costs of stock trading and the costs of running a company online are low. So low that Zecco can finance themselves from other sources like interest rates and advertising. And this is why they can offer a few zero cost trades every month and this is why they only charge 4.5$ a trade after you use your monthly free trades.

All these are the reasons why I chose Zecco trading. Why I started thinking about investing in US stocks with the help of Zecco in the first place? I got a few recommendations from my friends that were already using Zecco and were really satisfied with it. I've been using it for about 6 months now, and I'm also very happy with it. All the trades are executed fast and at favorable prices. No complaints so far. But I'll try and continue this Zecco review another time with more detailed post about how to open Zecco account.

Welcome to Zecco Review

Here at Zecco Review 101 we will provide you with information on stock trading. Not any stock trading but the lately more and more popular free online stock trading.

With development of information technology and Internet the stock and finance business has moved online. First the big players made their move and the worlds finance market started to merge. From the morning in Tokio to sunset in New York, world financial markets used the power of IT. Now it's time for the rest of us. As you probably know - moving your business and services to Internet means much lover costs. No bricks and mortar, you a few servers. In fact, lately the costs of trading stocks online have become so low that some online stock brokers now offer FREE online stock trading!

Zecco is one of the above mentioned free stock trading companies and by most Zecco reviews also the best one. This Zecco review blog will help you through the process of opening an account at Zecco and making your first trade. Happy stock hunting.