VentureBeat - Latest Comments in Zecco will kill stock trade commissions

Re: Zecco will kill stock trade commissions

casino online gambling — Wed, 02 Jan 2008 21:59:25 -0000

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Re: Zecco will kill stock trade commissions

Spicydesi — Tue, 08 May 2007 16:25:25 -0000

Mr Rakesh,

You will get what you pay for.

Move on

Re: Zecco will kill stock trade commissions

Rakesh — Fri, 04 May 2007 11:35:23 -0000

I wanted to start with Zecco but their customer service has deemed themselves completely unrelaible. The representatives I spoke to were very rude and one even pretended he could not hear me when I asked him what his name was (after he was rude to me). He was like "Mr. Rakesh, Mr. Rakesh, I can't hear you" and then he hung up. It was awful. Zecco needs to replace him but I don't even know his name.

Re: Zecco will kill stock trade commissions

Columbus — Tue, 17 Apr 2007 20:54:35 -0000

You are doing a wonderful thing here on the Internet. I wish you the very best. Kindest regards.

Re: Zecco will kill stock trade commissions

Scott — Thu, 15 Mar 2007 11:53:24 -0000

Looks like there will be ads featured to generate revenue... but if you do use a trader or get advice the will charge you...

Re: Zecco will kill stock trade commissions

Renters Insurance California f — Fri, 23 Feb 2007 05:12:07 -0000

This was a great site. I needed to find something for my Homework and This site helped me out so much! Thanx alot!!!!

Re: Zecco will kill stock trade commissions

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Re: Zecco will kill stock trade commissions

Anders MIdtgaard — Tue, 31 Oct 2006 02:07:45 -0000

This might actually bring back all the daytraders. We can now expect more volatile markets if it really takes off.

Re: Zecco will kill stock trade commissions

Dowjobber — Mon, 09 Oct 2006 18:33:07 -0000

When you look at a full service broker's financial statements you will find that "commissions" are a small part of the revenue pie. Fees and interest and trading profits are the largest part of revenues. For example a "general account agreement" allows the broker to loan your securities. For this loan of your stocks, they collect interest. This is one of the most lucrative parts of the brokerage industry. Interest is also charged for margin and also collected of free balances (free balances= your money which has not yet been used to pay for a stock) So there is a lot of float of other folks money in brokerage. Years ago,I had one broker that paid customers from the Bank of Guam! And of course there are fees and trading profits, some you see and some you can't see because of a lack of transparency.
So, no commission trades are certainly doable because execution costs have almost completely disappeared with ECNs which match buyers and sellers.

Re: Zecco will kill stock trade commissions

SL2005 — Sat, 30 Sep 2006 02:23:59 -0000

I found some features of the trading platform from

http://www.indextown.com/ar...

1. Min. for opening an account is $2,500
2. Yes, margin accounts; Margin interest rates will vary with size of your portfolio but are right in line with other online brokers
3. Zecco Trading has ACH (we donâ€™t hold the funds any longer than they take to clear) Itâ€™s always bothered us how long ACH takes when it should be instantaneous. Weâ€™re working on it. Yes, this is one of the ways that you can transfer funds to your account, as well as check or wire

...

Re: Zecco will kill stock trade commissions

Lec — Fri, 29 Sep 2006 17:29:55 -0000

By the way, I know it should be spelled there..

Re: Zecco will kill stock trade commissions

Lec — Fri, 29 Sep 2006 17:28:15 -0000

There is not enough info out their about Zecco to make an informed choice on whether to invest with Zeccp; however, Zecco's marketing strategy has been done before. Hype.

Re: Zecco will kill stock trade commissions

Alex — Mon, 25 Sep 2006 19:26:27 -0000

WOW...of course that would come up!

Re: Zecco will kill stock trade commissions

Bill — Mon, 25 Sep 2006 14:52:50 -0000

Too funny. I was just on the Zecco beta site and saw a Google Ad for sogoinvest.com in the "about us" section.

Re: Zecco will kill stock trade commissions

Alex — Mon, 25 Sep 2006 12:22:47 -0000

Please don't tell me this is going to be an ad-based service...

Re: Zecco will kill stock trade commissions

Murtaza Hussain — Sat, 23 Sep 2006 20:24:30 -0000

Morten rocks!!!

Re: Zecco will kill stock trade commissions

Steven Burda, MBA — Sat, 23 Sep 2006 12:50:39 -0000

I wish the Oct 9th date came today... =) I need to start my buying again...

-Steven Buda, MBA

Re: Zecco will kill stock trade commissions

David — Sat, 23 Sep 2006 12:44:19 -0000

Matt,

I don't think Zecco' s business model is to ruin the Schwabs of this world. The market they are going into is growing by 150,000! consumers each month since Jan06 due to new government pension rulings. I also learned that Zecco uses the same trading platform and settlement/clearing house as Etrade Canada and as many other professional brokers plus the customers are insured to 25 Million USD...that is more than Etrade as a matter of fact.
It looks like they got their stuff covered.
Next to this they will build a massive community that will be able to comment and discuss any financial/investment issues, that also is new to the financial industry as we know it up until now..the establishment is used to pumping info towards the customer one way! Would be great to share information on a customer level, normal language.
In all I think they are not out there to ruin the establishment as a Business Model, but I think they may be able to do just that.
David.

Re: Zecco will kill stock trade commissions

David — Sat, 23 Sep 2006 12:41:59 -0000

Matt,

Re: Zecco will kill stock trade commissions

Steven Burda, MBA — Sat, 23 Sep 2006 11:39:07 -0000

I'm giving Zecco a try!

-Steven Burda

Re: Zecco will kill stock trade commissions

Wing Yu — Fri, 22 Sep 2006 15:57:17 -0000

Sogoinvest.com already offers $1 trading. I've always believed that it's possible to have zero-cost discount trading, but it needs to be subsidized by other revenues. The company could advertise or collect leads for big-ticket items like insurance policies, refinancing, airline tickets, etc., or just invest your cash. With certain firms, you can already trade for free if you have more than $1mm in assets. Think of the interest that they're making with the cash part of your holdings each day.

Re: Zecco will kill stock trade commissions

Kempton — Fri, 22 Sep 2006 13:42:40 -0000

Hi Matt,

Neat story. If there isn't any major hidden catch, this may be quite interesting indeed. I will definitely pay attention to it when it launch.

Cheers,
Kempton
--------
P.S. My good friend Sean created this 2-minute video "The Elevator Pitch" for CBC's Dragons' Den. See if you agree with his view.
http://www.youtube.com/watc...

Re: Zecco will kill stock trade commissions

Mr Wave — Fri, 22 Sep 2006 13:15:40 -0000

Zecco - Is "Free" a Business Model?

The hot startups today all seem to have one thing in common today - they all have "FREE" as a business model. That is why when I read about Zecco.com, the free online stock trading site backed by the funder of Skype, my eyes rolled over. Have I heard this story before or what? Once and for all entrepreneurs, I would like to address the question that is on every Web 2.0 entrepreneur's mind: Is "FREE" a business model?

Re: Zecco will kill stock trade commissions

Mick — Thu, 21 Sep 2006 21:44:38 -0000

Nice one Morten. He is a pioneer like no cowboy before him. But his instincts are pretty good. Track record speaks for itself. Although that may be more about his contacts.

Best of luck.

Re: Zecco will kill stock trade commissions

david — Thu, 21 Sep 2006 18:32:21 -0000

emailing this function seems not to work.