I noticed several posts on the free forum and also here on the blog asking about the best online broker to trade penny stocks, after several days of research, I will recommend Zecco, right now is the best broker to trade stocks, to open an account with Zecco, click the small banner below.
List of the main advantages of Zecco, info retired from Zecco’s web site:
- There’s no minimum deposit required to open an account, you can open an account with any amount.
- You get 10 free trades every month if you maintain a minimum account net equity of $2,500, otherwise you only pay $4.50 per trade, the best price of the market.
- Trade OTCBB and Pink Sheet stocks for $4.50 flat rate, trade 100 or 1,000,000 shares, you pay $4.50.
- Real-Time Quote Streamer for Nasdaq, NYSE and OTCBB only for $10 month.
- Open your account using an online application form, very easy.
- Open Margin, Option and IRA accounts.
- Zecco accept International Clients, no U.S. Citizens and no U.S. Residents, this is very important.
- No account maintenance fees for Individual or Joint accounts, IRA accounts pay $30 per year.
- Zecco offer check writing and debit card service.
- Fund your account with check or wire transfer.
- Transfer your current Brokerage account to Zecco with no costs to you.
- Fund your account by transferring shares from your current brokerage account.
For all the reasons above, this is the best option of the market to trade stocks online, I strongly recommend to open your Zecco account right now, click the banner below.
Lucky me. I JUST opened an account with Zecco. I will second your recommendation as it is hands down the best online broker right now (4.50 a trade? PERFECT!).
I’m a Canadian and you can’t open an account with Zecco
Ilan
Ilan
That is correct, it’s one of the very few exceptions, Canadian residents can not open a Zecco account, however, Canadian citizens residing in the U.S. are able to open an account at Zecco, that is due to current Canadian security regulations.
There is also a list of a few blocked countries that are under the USA PATRIOT Act, this is the list:
Afghanistan
Burma* (sometimes referred to as Myanmar)
Cuba
Iran
North Korea
Sudan
The Balkans
Belarus
Ivory Coast (Cote d’Ivoire)
Democratic Republic of Congo (formerly Zaire)
Iraq
Liberia
Syria
Zimbabwe
I tried to open an account with Zecco because of the cheap trades, however I am a UK resident so I needed to send off the required documents/ID’s etc…
They said it will take 2 weeks. So I sent them off and a month later no reply, I sent them an email and I got a reply over 2 months later and they said “We need you to resend the documents”.
So I did and nothing again, I sent them an email again with my name and account name and they said 2 months later “We could not help you as we need a reference number”
Off I went to find the reference number, couldn’t find one! Had a browse over some forums and they all said the same thing: “they don’t give you a reference number and the customer service is appalling.” I gave up then and decided to look at another broker as time is money! Anyway a while later around 3 months I got another email saying “unless you activate your account we will have to close it”
All in all it had been about 7 months since I tried to open an account. I let them close it.
After much patience with the application which requires way too much personal information, I also opened an account with Zecco yesterday.
After many attempts, I cannot find a tab, form, or any way to fund my account via ACH. I have not found their site to be very user friendly at all. I have probably spent over an hour trying to get setup to trade with Zecco.
I emailed them with my concerns but have not received a response. Needless to say, I am a bit skeptical of their service at this point. I think I will stick with Scottrade for now… A little bit more money but much more professional services.
Cecil
From what I know you need to activate your account and obtain a trading key, the information below is on Zecco’s web site, very easy to find, just click the Help link on the footer of the site and you have all information needed, also, they are very fast to respond to emails, I exchanged a few emails with them and all were responded in less than 24 hours and that was because my time zone is not the same, 6 hours more.
From Zecco web site:
* What is a Trading Key and how do I obtain it to sign in to my Zecco Trading Account?
The Trading Key is the access code to your Trading Account and is different than your myZecco user name or password.
Once your account is approved, Zecco Trading will send you an approval e-mail. In that e-mail there are directions to on how to obtain your Trading Key. Please note:
o Change your Trading Key periodically, starting the first time you sign in to your Trading Account
o Use alphanumerical characters only (A-Z, 0-9) if you change your Trading Key. Your Trading Key is case sensitive.
o Please do not ever respond to an e-mail (that may appear to come from Zecco Trading) that requests you to update personal or account information at Zecco Trading.
I have not found their site to be very user friendly at all.Agreed.
I emailed them with my concerns but have not received a response. Needless to say, I am a bit skeptical of their service at this point. A little bit more money but much more professional services.I guess you get what you pay for.
Vegas
I find Zecco’s site very user friendly, just click the Help button and you have all the information needed and very well described, step by step.
I found the information you need in 10 seconds, just look below, info retired from Zecco’s web site.
How do I fund my account through ACH?
See the “Funding & Transfers” tab in the Trading Center (right next to the “Trading Center” tab) to view specific instructions or to move cash in & out of your Trading Acccount using ACH.
Hi Doc,
Yeah I know that its just that they never sent me the approval email once I sent the documents, and took 2 months for an email reply, what was I supposed to do?
Anyway don’t worry bout it Doc! Just concentrate on the markets
Cecil
I have no idea how you can say that, they have a very complete instructions page, step by step, detail by detail, they divided the FAQ’s page in several pages by chapters, better you can not find, this is my honest opinion, see for yourself, click the Help button and you will see.
The account opening process is very easy to understand, you just need to follow all the instructions, and the service is great.
Yes I understand what you say, also the site was different 7 months ago when I started to open the account. It does seem like they have a lot of information in the Help section, I agree.
But what was I to do when I sent the documents and they said I will recieve confirmation email in 2 weeks and I didn’t get anything for 3 months. Time is money I had to open up else where.
Cecil
Yeah, let’s go, I am prepared, how many they are??
, 
Cecil
I just know Zecco now, and now they are good, they began the company from the scratch a few months ago, the beginning is always complicated, so I understand that your experience was not the best.
I found that Doc. That’s a no brainer… I might add that I am quite skilled at computers and website coding. I have built many computers and have designed and raw coded over a dozen web sites.
The problem lies in the fact that once you are at that point, no tab exist where they say it does nor is there any other way to continue the process from there.
Maybe they will get to my email and provide some answers…
CecilYeah, let’s go, I am prepared, how many they are??
, 
Yeah dont worry bout it Doc, lets just make some money
I see, maybe a problem with the code of the web site, very odd, hope they respond to your email fast.
I don’t think it works for Canadians. You can’t even find Canada listend in the drop down menu when trying to register