Zecco vs TradeKing: Low Cost Discount Broker Comparison

Among many discount brokers, Zecco and TradeKing, both quite popular, have a little in common. To me the biggest resemblance between the two is that their commissions: both at $4.95. In most other areas when comparing the two brokers, you will find plenty of difference, from website appearances to customer service, to products being offered.

Following is a side-by-side comparison of Zecco and TradeKing, which should give you a better idea of both brokers and their services.

TradeKing vs Zecco

Apply onlineYes, open an accountYes, open an account
Account minimum deposit$0.00$0.00
Free tradesNoNo
Referral programYes, $50.00Yes, $50.00
Stock/ETF commission$4.95$4.95
Options commission$4.95 + $0.50/contract$4.95 + $0.65/contract
Mutual fund fee (NTF)*$10.00$14.95
No-fee IRANo, $30/yearYes
ACH depositYesYes
ACH hold period 3 business days5 business days
Account transfer-in feeNoNo
Account transfer-out fee$0.00$50.00
Account transfer fee reimbursementYes, up to $100.00Yes, up to $150.00
Dividend reinvestmentYesYes
Check writingNoYes, for account balance of >$10,000
Mobile tradingYesYes, Blackberry & iPhone App
Web based trading platformYesYes
Stand alone trading platformNoNo
Trading anywhere on webYes, with ZapTradeNo
Fractional sharesNo, but yes with dividend reinvestmentNo, but yes with dividend reinvestment
Real-time stream quotesYes, but not freeNo
Free gain/loss trackeYesYes
Forex tradingYesNo
Free research toolsYes, including stock, ETF and mutual fund screener, alerts and moreYes, including stock, ETF and mutual fund screener, technical analysis, and tax manager and more
Free educational seminarsNoYes
Monthly feeNoNo
Local branch officeNoNo
Investor communityYesYes
Additional promotionsNoYes, quite often (usually $50 bonus/account)
Zecco and TradeKing Comparisin
*NTF: No transaction fee;

Choosing which broker to have your business depends primarily on what you are looking for. If you trade a lot or have a large account and want to trade stocks or ETFs with less costs, then Zecco is a better choice . If your main concern is customer service (just in case there are issues that you need help on) and want to use a broker with user friendly interface at a reasonably low commission, then you can choose TradeKing (see my TradeKing update post for further discussions).

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