So i was in scottrade, then after NYC Traders Expo i decided to go to tradestation, since i dont daytrade often i couldnt meet the 5000 share/month minimum so im currently going to Zecco.com, anyone try this out?

Heres my plan, I'm 20 yrs old and have some international Mutual funds, but i want to test my stock picking skills, i am going to school to be a financial analyst with an MBA and/or CFA. So im taking 10k and putting in zecco for free trades (40/month, 10/day) and im going to pick 20-40 different stocks and see how my mutual fund does? im pretty sure i can beat the SandP with some copper, energy and high growth stocks while diversifying with some large caps such as MO (altria), and PG(procter gamble).

Tell me whatcha think

 

I have Zecco, but I don't use it. Reason being is that there customer service blows, badly. If you ever run into any technical issues or issues, like me, where my money disappeared for 2 days, they are no help. Their interface and offer is good, but I dropped them in the toilet.

 

IMO too many stocks for an individual investor to worry about. Even if you wanted to make frequent trades you could get away with 6. Even frequent traders need to research the companies they are trading. If you don't do that then you might as well go down to the track and bet on the trifecta.

 

i have a good feel on stocks, longer term, all it takes is about 30 mins to find a good one, then a few minutes here and there to keep up to date with them. Remember im not controlling 100s of thousands, only 10k, i can afford to do less research because many will be momentum plays, and when i see a break in the trend it will be sold. Imo you can analyze the stock all you want but if people are selling because they want to sell it, your going to lose no matter how the fundies are. I know if i picked 20 -40 stocks today, they would be up in a year more than the S and P.

 

my bro called them today and i asked him how the customer service was, he said the first time it took them 1 minute to pick up and the next time they picked up right away and was very helpful. What do you expect when your getting free trades.

 

How do they make money if you get free trades?

 

margin interest: money you borrow from them to trade with, they get about 10.5% i think

Unused money, they pay you 1% unless u go into the money market acct. which is about 4.5%, but if you dont they take that money and make at least 5% on it.

they say trades are only about 1 dollar per trade (cost to them) and they dont spend 6$ per trade on advertising like etrade does. they also get 3.50 /trade after you use 40 trades in that month.

 

i just signed up for it earlier today. my friend has about 14k invested through them and is happy thus far. hopefully, i will too.

 

I use Zecco, been a member with them since their Beta days,
and I have had no problems with them.

I am in the process of opening my Roth IRA with them too.