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.

Broker Scottrade Zecco
Apply online Yes, open an account Yes, open an account
Account minimum $500 $0.00
Paperwork No No
Free trades No No
Referral program Yes, 3 free trades Yes, $50.00
Stock commission $7.00 $4.50
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 Yes (MoneyDirect) Yes
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
Dividend reinvestment No Yes
Check writing Yes No
Mobile trading Yes No
Web based trading platform Yes Yes
Stand alone trading platform Yes No
Fractional shares No No
Real-time stream quote Yes No
Free gain/loss tracker Yes No
Monthly fee No No
Local branch office Yes No
Customer community Yes Yes

**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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3 Responses to “Scottrade vs. Zecco: Which Is Better?”

  1. Paul Michael |  Nov 16, 2010 at 3:11 am

    Personally I would choose Scottrade, it seems to me that has more advantages, but this not means that Zecco is not good too, just for now I will stick with my choice

    • Sun |  Nov 16, 2010 at 11:56 am

      Scottrade is also my choice, even though the commission is higher. I like the interface much better than Zecco’s. Also Scottrade’s referral program is very nice. I am able to earn enough referrals to trade for free with Scottrade :)

  2. JrTrdr |  Dec 17, 2010 at 12:29 am

    Would like to see Scottrade commissions lower, but the new 2o1o Scottrader interface is really cool, many add-ons from the previous one… Also the website’s research tools are great!

    I like it… I think if they drop their pricing to ~$5, they could be the best out there!