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Zecco
It is the first online site that offers 10 trades per day for day traders or 40 trades per month (2 per day on average per month). It has switched to 10 free trades, thus that is a trade every two days (not as good of a deal but at least a decent deal). So, if you see something in the WallSt.Journal overnight that makes you think that you want to buy a stock, your losses only occur from changes in the market value not commissions. That means if your strategy pays off, you will be okay.
Because you need $2,500, they feel they will make their money through $30 per year for IRA accounts, margin accounts rates of around 11%, and credit balances of 1%. If it was a $250 minimum, I would be an innovator. Since it is $2,500, I probably will be an early-adopter. I probably won't be using this service for another year to 1.5 years. Currently, due to college, I still have a negative net worth and by 25, I'm hoping that I'm at zero or higher.
Similar to the CNBC challenge, now you can create your own mutual fund with single shares of stock. If this continues to succeed and there are further players, you
Last edited by aquaswim47; 01-05-09 at 08:49 AM.
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