Zecco vs OptionsXpress



Zecco Trading If you’ve been to this website before you’ll know that we highly recommend Zecco to rookie traders as their whole setup is geared towards getting rookies up to speed as quick as possible.

OptionsXpress on the other hand come highly recommended as an excellent all round broker. They have one of the best trading platforms around for a retail broker and offer excellent customer service as well. They aren’t necessarily the cheapest broker in town but they’re certainly one of the most reliable.

So which one is right for you? To find out we’ve compared each broker for their quality of service, trading platform, and price. Use the tables below to ascertain which broker fits in with your trading style and experience best.

 

Products & Services

Broker Zecco OptionsXpress
Rating [rating:4/5] [rating:5/5]
website Visit the Zecco Website Visit the OptionsXpress Website
Our Review Read Our Full Zecco Review Read Our OptionsXpress 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

When it comes to services you can see that OptionsXpress comes out on top due to the fact they offer extended hours trading. Now that’s no small thing if you live in California and you check your portfolio after work.

It’s not like Zecco even offer it at an extra cost, it’s just not available full stop. So if you have a habit of trading after hours OptionsXpress is the way to go. Unless you’re a rookie that is, but we’ll come to that later.

Other than that they’re pretty evenly matched and offer all the major investment products. One thing to note is that neither broker offers reduced rates for frequent trading, so all you day traders out there will have to look elsewhere.

Trading Tools

Zecco OptionsXpress
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

This is where it gets a little more interesting, both brokers have great platforms for their target market, but it’s unlikely a trader form OptionsXpress would be happy with the Zecco platform and vice versa.

It’s important that you choose the trading platform that matches closely with your trading style and experience. That’s why these two platforms are so great, because they don’t try to be all things to all men.

The Zecco platform was designed to be used by beginners straight out of the box, as a result it’s clean and easy to use, there’s no need to read a manual before you start using it. Despite that it has all the major features a trading platform should have.

The OptionsXpress platform on the other hand was designed with serious options traders in mind. It’s totally intuitive and has a multitude of specialist options tools for you to play around with.

Fees & Commissions

Zecco OptionsXpress
Account Minimum $0.00 $0.00
Margin Account Minimum $2000 $2000
Stocks & ETFs $4.95 $9.95
Options Base $4.95 $12.99 1-40 Contracts
Options Per Contract $0.65 per contract $0.00 per contract
Account Management Fee $0.00 $0.00
Broker Assisted Trades $19.95 $9.95
Mutual Funds $10.00 $9.95
Bonds $4.50/bond ($22.50 minimum) $5.00/bond ($9.95 minimum)
IRA Annual Fee $30.00 $0.00

Summary

By now you should know where were going with this, Zecco for beginners and OptionsXpress for options and intermediate traders.

So how about this for a scenario, let’s say you’re new to trading and looking for your first broker, initially you should sign up for an account with Zecco. You could then make use of their excellent training facilities, live webinars, videos and manuals etc, along with their trading community.

After 12 months of trading with Zecco you should have a pretty sound trading education and be looking to try some of the more exotic options plays. So then it would be time to move on to OptionsXpress.

OptionsXpress have some of the best options training around; they make the complicated world of options clear and easy to understand. They’ll walk you through the basic options strategies, teaching you about chains and puts. They even have a personal training option giving you live one on one training.

After 18 months you’ll have been through a complete training program, taking you form a complete novice to a serious intermediate trader. With no books to buy, no expensive seminars to attend and no dodgy snake oil salesmen promising you massive returns. I wish I’d read this article before I started trading, it would have saved me a fortune.




Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright 2008 - 2011 - howtotradestocks.org - All Rights Reserved

Discount Stock Brokers | Compare Online Brokers | Penny Stock Brokers | Sitemap | Privacy/Affiliate