Zecco vs OptionsHouse



Zecco Trading We’ve championed Zecco on this website before many times; they have one of the best trading communities around for rookies who are just starting out. But  could they make a great all round broker as well?

To find out we’ve pitched them up against one of our favorite all round brokers OptionsHouse. With incredible pricing across the board and one of the best trading platforms around for intermediate traders they are a fearsome competitor.

So check out the tables below and find out which (if any) broker is suitable for you. We’ve compared price, platform and customer service, so picking the perfect match couldn’t be easier.

 

Products & Services

Broker Zecco OptionsHouse
Rating [rating:4/5] [rating:5/5]
website Visit the Zecco Website Visit the OptionsHouse Website
Our Review Read Our Full Zecco Review Read Our OptionsHouse Review
Bank Deposits Bank Deposits
Bonds Bonds
Certificates of Deposits Certificates of Deposits
Day Trading Day Trading
Services Extended Hours Trading Extended Hours Trading
ETFs ETFs
IRAs IRAs
Mutual Funds Mutual Funds
Trading Community Trading Community

Services Overview

Despite the fact that OptionsHouse was originally just an options broker, they’ve added products to their platform over the years to become an excellent all round broker. They have some great education material but lack a real trading community like Zecco.

OptionsHouse are slightly ahead when it comes to services, they offer extended hours trading, where as Zecco do not. This is a major flaw with Zecco and it’s one that shouldn’t be too hard to put right. Other than that they’re pretty much equal.

One final thing I should point out is that OptionsHouse do welcome day traders, but they don’t offer reduced rates to frequent traders. To be honest they don’t offer level 2 data anyway so aren’t really suitable for day trading.

Trading Tools

Zecco
OptionsHouse
Automated Trading Automated Trading
Investor Resource Center Investor Resource Center
Mobile Trading Mobile Trading
Online Advisor Online Advisor
Trading Tools
Profit & Loss Calculator Profit & Loss Calculator
Streaming Charts Streaming Charts
Stock & Fund Screeners Stock & Fund Screeners
Tables & Graphs Tables & Graphs
Training & Education Training & Education
Virtual Trading Virtual Trading

Trading Tools Overview

The table above tells you that these trading platforms are very similar, but that doesn’t tell the whole story, because while that table above lists all the major components of a trading platform, it doesn’t go into any detail.

These two platforms are actually very different. Zecco’s platform is very intuitive to use and is very easy to get your head around, it has all the basic tools that most traders will need, but what it lacks is some of the more exotic options tools like volatility charts.

This is where OptionsHouse step in; their platform is much more orientated towards the options trader. It’s still an intuitive platform but has many more specialist options tools available.

Fees & Commissions

Zecco OptionsHouse
Account Minimum $0.00 $1000
Margin Account Minimum $2000 $2000
Stocks & ETFs $4.95 $3.95
Options Base $4.95 $8.50
Options Per Contract $0.65 per contract $0.15 per contract
Account Management Fee $0.00 $0.00
Broker Assisted Trades $19.95 $3.95
Mutual Funds $10.00 $9.95
Bonds $4.50/bond ($22.50 minimum) Bond Orders Accepted By Phone
IRA Annual Fee $30.00 $0.00

Summary

It’s actually very easy to differentiate between these two brokers. Zecco is perfect for beginners or traders with smaller accounts. They have excellent training materials including live seminars, online video and of course access to their famous online community.

If you’re a beginner you’re far better off sacrificing the slight increase in fees to take advantage of this community. Once you’ve got a grip of the basics and developed a proper strategy, you can always move over to OptionsHouse and take advantage of the lower fees.

If you’re a more advanced trader, maybe you’ve learned the basics and now you’re looking at some advanced options strategies, OptionsHouse is the way to go. Again their training for options is exceptional but you don’t get access to an online community to bounce ideas around in like you do with Zecco.




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