This is the opinion of Lund,one of the founders: Our model is different. We run a lean operation, use the latest technology and rely entirely on word of mouth, guerilla marketing, viral campaigns and public relations to get the message out. As a result we can look at the $2 per trade as the cost of doing business â and still turn a tidy profit Someone will always have to pay the expenses, but two question arise: How much are the REAL expenses? WHO will pay? Future will tell us. One things is suer: the founders of Zecco have two things in common: they have huge amounts of capital they all proved their commercial abilities in the past My conclusion: they might be able to radically change the broker's world, and make some brokers go broke.
They claim you can have 40 free trades a month (not to exceed 10 trades per day) as mentioned earlier in this thread, They will offer limit orders. I wonder if you can "short" with them?
It sounds like Freetrade.com: "Unless youâre a day trader, you wonât spend a penny on commissions ever again. Day traders â youâre in luck, too. You only have to pay a paltry $3.50 per stock trade after 40 trades a month, up to 10 trades a day." --- from Zecco's about us. But this will not work for day traders. There are $1.5/trade brokers out there, such as SogoInvest
Dunno, if you make an average of only $300 per round trip, thats $6000 profit , commision free a month You know any daytraders who won't take that? Most here at ET make than that in a day, I know, but some might like the pocket change.
It's a very interesting business model. I might start a pocket-change account with them and see how it goes