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Zecco Stock Broker
By admin | October 26, 2007
Whether you are a beginning investor or an experienced professional, Zecco stock broker offers you everything you are looking for.
Just for an overview, some of the benefits you’ll receive when signing up with Zecco include Free Internet stock and ETF trading and Broker Assisted trading for only $19.99.
Additionally, you pay only $4.50 for Trade options, $19.99 for Broker Assisted Options and there is no inactivity fee to worry about if you are away from it for a while. Additionally, there is no minimum account balance for regular accounts, making this the perfect option for those who just want to get their feet wet without really jumping into the water.
Once you’re ready to fully sign on with Zecco, setting up an account is very easy and time efficient. First you’ll need to head over to the Zecco homepage and click on the ‘Open an Account’ tab. Next you’ll be asked to enter some personal information that will be used to create your own account.
The types of accounts you can choose from include:
Individual Trading Accounts
These are best suited for those who are just investing personally
Joint Trading Accounts
The joint trading account is more suited for two or more account owners who will both accessing the account and trading simultaneously.
Traditional IRA’s
These are going to be tax-deferred retirement accounts that area available to US citizens.
Roth IRA’s
The Roth IRA is an account that is exempt from tax contributions and is also only available for US Citizens.
Rollover IRA’s
This account is primarily used for IRA transfers only.
So once you’ve chosen which type of account you’d like to go with, then you’ll need to enter more additional information such as your current address, contact information, SSN number and Government ID# or driver’s license.
You’ll also be asked to state your current employment status, various aspects of your financial information such as your annual income, your total net worth as well as your liquid net worth.
Zecco asks for your trading experience and which bank you are currently banking with. This information does not take that long to put into the computer though so you are really only looking at a few minutes of your time.
After this you’ll proceed to an area that will ask you on the type of options you would like. You’ll set preferences for:
- Investment Objective
- Funding options
- Whether you will want Zecco Options Trading (which in most cases it will be ‘yes’)
- Beneficiary information
Then once everything is filled out you can review it one final time and then click submit. If you aren’t ready to quite submit yet Zecco will allow you to save the account and return later so if you don’t have a lot of time to review it and read into the various options, not to worry at all.
After your account has been reviewed by a Zecco specialist, then you will need to choose how you wish to fund your account. Zecco offers you four different methods.
The first option is by ACH, which will take approximately three to five days depending on when you do it and which financial institution you are using.
The second option is with a wire transfer, which may be your fastest choice. If you wish to go with this route you’ll be ask to provide your financial institution with some of your personal information as well as your Zecco account information.
Another method to fund your Zecco account is by mailing a check in, which again takes about three to five business days for processing. You are to make your checks payable to Penson Financial Services and mail it to:
Zecco Trading
P.O. Box 4328
Ontario, CA 91761
Finally, the last method in which to fund your account is by transferring from an existing brokerage account. This is the longest method however and can take up to 20 business days. If this is what you choose to do however, you’ll need to print, sign and mail the ACAT form, which is located under the Zecco Trading Tab, along with a recent copy of your account statement to the address above.
So as you can see, there really isn’t a whole lot to getting started with Zecco. It’s a great place to learn how to get into the stock market and hopefully see great financial success at the same time.
Topics: stock market, personal finance |
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