Replies to post #49283 on 10-Baggas Factory 10

[xjag]

This is the text I just got from Zecco announcing their increased fee structure as of 30 March 2011. Indeed for stocks under a dollar they're charging $6.95 per trade. I'll be shopping for another broker, they're not worth the increase.

Starting on March 30, 2011, our new commission rates will be:

* Equity trades: $4.95 per trade*
* Options trades: $4.95 per trade, plus $0.65 per contract
For stocks and ETFs priced under $1.00, online trades are $6.95.

With this change we are no longer offering 10 free trades per month. As before, there are no minimum balance requirements or inactivity fees to open or maintain a Zecco Trading account.

To answer your question: They've never charged an extra fee for large orders, but I wouldn't put it past them now.

[sl62]

fwiw, still a big diff from ST~

ST are ruthless and those that have enjoyed the basement rates of zecco through the last several years, have made out nicely. But even with the coming increase, Z still WAY better than ST for any trade because when x>$1 = still less than $5flat (ST $7flat), but when x<$1 = still less than $7flat (ST $7+$$$).

Math works like this. ST = x<$1 = $7 + ("For stocks priced under $1, add ½% of the principal value to the commission"). ST exmpl = for a 3.5M sh trade at .001 = $7+$17.50= $24.50 (that's all just for the one leg). If you bought 3.5M at .001, then sold it at .01+...then on your second leg of the 'trip, you just helped pay for another ST employee at a new branch~. Also wires at ST = $20, at Z = $15. ST ACH xfer system also sucks and is invasive because they require your bank accnt password...huh?. Bottom line, obviously they are still a B&M BRANCH-oriented broker (with crazy amnt of locations) and that's where they still want you to do your biz, not online. They have a nice little set-up going as far as raping the unassuming more frequent trader. For those who trade a few times a year or not pennies, it's adequate.

One should do what they want, EXCEPT compare Z (even w/coming increase) to ST (or imvho, ANY other major broker out there). As a new customer, I'll be missing the basement pricing at Z, but c'est la vie. I still know how much I'll be saving and not continuing to be lining the pockets of the all-powerful GOLDEN KNIGHT!

Besides, what Z did was smart pricing a nickel under $7 when x<$1. Think about it. Even when x<$1 w/Z, every 20 trades is MIN $1 savings (even IF ST didn't still rape w/ the +1/2% bs). Not talking huge dollars, but over the course of a few years it can add up, and the question is would you rather have that money or ST? I have zero interest in promoting Z and like anyone am sorry to see the rates move up, just offering my POV on the matter. happy Saturday.. glta