Cheap online stock trading is officially here, or so I gathered by doing a comparison on all these online stock trading brokers. With OptionsHouse at $2.95 a trade and Zecco at $0 for qualified customers and $4.50 otherwise, the competition is on. This comparison looks into who the real winners are in cheap online stock trading.
We know the drill on Zecco. 25 free stock trades if you have at least $25,000 or if you trade 25 times a month. Otherwise, it’s $4.50 per trade which isn’t too shabby either. Options fees are $4.50 per trade plus $0.50 per contract.
You know, there’s quite a few bad press on Zecco, from bad customer rep to erroneous purchasing power. However, I’ve never had a problem with the broker and I have enjoyed the low trading fees for a long time now. Zecco also have Zecco Forex, which is a nice addition if you are into forex trading because you don’t have to spread your funds to tons of different accounts.
OptionsHouse on the other hand has a ton of good press. There seems to be many people who really have a great experience with the broker. What I like about OptionsHouse is all the free education because it really shows that the people who run the show knows about trading. This translate to a great interface and tools that are developed to be easy to use.
Which One is for Me?
They are really similar and you really couldn’t go wrong with either stock brokers. But to determine which is right for you, look into your trading history. How many times do you trade per month? How much do you plan to deposit into your investment account? These are the questions that only you can answer but run the numbers and your answer will be staring you in the face. Yes, I know price isn’t the only thing but they are so similar and after all, we are talking cheap online stock trading here.