Scottrade vs. Zecco: Which Is Better?
Scottrade and Zecco are two of my main stock brokers. I have used both of them quite often, especially Scottrade. In the past, I have written lengthy reviews of both of them (Scottrade review and Zecco review) from my own experience, including features of the broker, fees, research tools, and account opening process, etc. While I think those reviews are comprehensive, giving you a clear idea about what they both have to offer, they may not be very straightforward if you want to get the information that matters the most fast.
And that’s why I am putting together this table below so you can compare easily in which areas these two popular discount brokers are the same or different.
|Apply online||Yes, open an account||Yes, open an account|
|Referral program||Yes, 3 free trades||Yes, $50.00|
|Options commission||$7.00 + $1.25/contract||$4.50 + $0.50/contract|
|Mutual fund fee (NTF)**||$17.00||$10.00|
|No-fee IRA||Yes||No, $30/year|
|ACH hold period||No***||3 days|
|Account transfer-in fee||No||No|
|Account transfer-out fee||$0.00||$50.00|
|Account transfer fee reimbursement||Yes, up to $100.00||Yes, up to $150.00|
|Web based trading platform||Yes||Yes|
|Stand alone trading platform||Yes||No|
|Real-time stream quote||Yes||No|
|Free gain/loss tracker||Yes||No|
|Local branch office||Yes||No|
**NTF: No transaction fee;
***You have to wait for 3 business days before using the fund to buy stocks that are less than $4.00/share at Scottrade;
So which broker do you think is better? Scottrade or Zecco?
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