Zecco vs SpeedTrader



Zecco Trading If you’re looking for a new broker, the first thing you need to know is that not every broker is suitable for every trader. In fact a broker that tries to be everything to everyone usually makes for a poor service provider.

Different brokers appeal to different traders depending on products traded, frequency of trading and level of experience. An experienced options trader for instance will need a different set of tools and support than a beginner.

To illustrate the point we’ve compared these two brokers. On the face of it they’re very similar, but when you get down to it both brokers offer a very different kind of service. So take a look at the tables below you’ll get a pretty good idea which broker is right for you.

Products & Services

Broker Zecco SpeedTrader
Rating [rating:4/5] [rating:3/5]
website Visit the Zecco Website Visit the SpeedTrader Website
Our Review Read Our Full Zecco Review Read Our SpeedTrader 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

You can see straight away that in terms of services there is little to choose between them. One major difference is that Zecco don’t offer after hours trading.

This is only going to be a problem if you regularly check your portfolio after work. It’s always nice to be able to make adjustments there and then rather than waiting until the next working day.

Other than that both brokers offer similar products and services. But that’s pretty much what you’d expect from a broker right? The real difference comes with their respected trading tools and platforms.

Trading Tools

Zecco SpeedTrader
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

Tools Overview

The tools you use to trade and the way you use them are critical to your success as a trader. So it’s important that the broker you choose has the right tool-set for your strategy and level of experience.

When you learned to drive, you didn’t learn in a Ferrari did you? So when you learn to trade it’s probably not a good idea to learn from a professional style trading platform. You laugh but I’ve seen it done and it’s a recipe for disaster.

It may not look like it but these two brokers have a completely different tool-set. Zecco for instance is perfect for beginner’s, their platform is easy to use and very intuitive.

SpeedTrader on the other hand is a much more specialized broker. They offer direct access level 2 data and some pretty impressive options tools that are perfect for more advanced traders and day traders.

Fees & Commissions

Zecco SpeedTrader
Account Minimum $0.00 $0.00
Margin Account Minimum $2000 $2000
Stocks & ETFs $4.95 $6.95
Options Base $4.95 $0.00
Options Per Contract $0.65 per contract $1.00 per contract
Account Management Fee $0.00 $30.00 Quarterly Inactivity Fee
Broker Assisted Trades $19.95 $6.95
Mutual Funds $10.00 $50.00
Bonds $4.50/bond ($22.50 minimum) $50.00
IRA Annual Fee $30.00 $35.00

Summary

Look at that table above and you’ll see that Zecco appear to be the cheaper of the two , that doesn’t tell the whole story however. SpeedTrader offer both flat fee and per share commissions, so if you trade in small amounts their price comes down to a price below Zecco’s

SpeedTrader charge $0.0039 per share, so if you typically buy less than 1000 shares at a time SpeedTrader would work out cheaper. But that doesn’t mean if you buy more than that you’ll be better off going with Zecco. If you’re an advanced trader Zecco’s platform is just going to be too limited for you.

Zecco is the perfect beginner’s broker, they offer some excellent education and training along with one of the best trading communities around. If you’re a beginner you’d be foolish not to take advantage of that, especially since its provided free of charge.

To sum up then, SpeedTrader is the perfect broker for more advanced traders and even day traders. They have a super quick platform and some excellent advanced trading tools. Zecco on the on the hand is perfect for beginners with excellent training and a simple to use platform.

So there you have it, two brokers that offer similar products but in a very different way. You can see that a typical SpeedTrader client is unlikely to be very impressed with the service from Zecco and vice versa. Also, don’t forget that both brokers offer virtual trading platforms so you can give each one a thorough test drive before making a decision.




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