Checkout The New Zecco!
After a delay and a final release misstep, Zecco has finally released its new trading interface.The new interface requires a conversion of your account that takes a few hours. If you haven’t logged in recently, go to the site to get the process started. The conversion takes a few hours and requires your electronic signature confirming whether or not you are a professional investor.
There’s nothing really new in the feature set. The main improvement is the consolidation of the view of your portfolio, balances and orders. That may not sound too exciting, but one major flaw the old interface had was that you couldn’t get a view of your portfolio/cash balance in the same place. So, if you have dividends credited or a cash deposit, you have to comb through the history to find out what happened.
Another noticeable improvement is the re-implementation of investment tickers. Some tickers previously couldn’t be enter through the automated system because filtering that would drop symbols based upon its name. I see that preferred stocks that previously couldn’t go through with an online order now work! (it was always possible to enter these orders with a call – they are very helpful).
Like most brokers, Zecco has a few features that are cool because they are unique. One that I like (which has been carried over), is the ability to determine the cost basis and profit/loss of every individual order of a position with a click within the position screen (unfortunately, the previous history was blown away during the conversion). Due to the new reporting requirements for positions after January 2011 (which require brokers to track cost basis), this is available at all brokers but Zecco makes it easier to access.
As before, trades are still just $4.95 among the lowest of the major brokers. They are still running a $100 referral program for friends. If you need a referral, send me a message: sfi @ sixfiginvestor . com.