Zecco = Zero Commission

After I used up all my free trades at Scottrade, I feel that $7 commission is overwhelming if you are a small trader like me. I finally open up a Zecco account which I kind of reluctant about it since they were new. In fact, although the sign up process asked you a lot of questions, I feel that it's justified as they give you 10 free trades / day or 40 trades / month. Although I need to print out the application form, sign, scan and send it again to them via email, my account was ready to use in about 2 business days. One thing I really like about them is they allow you transfer in-out from ACH linked to my checking account for free! Most brokerage will only allow you to transfer in, not both. I opened up a margin account with Zecco as I think I have learned enough about stock trading. I do feel that their trade execution is slower than Scottrade though. I still keep my Scottrade account open because they have a better research tool and I really like their live streaming quote.

Update: Beginning January 2008, any account opened after October 1 2007 no longer have free trades unless you have at least $2,500 in balance. It's $4.50 per trade if it's below $2,500 in balance and only 10 free trades per month now if you have greater than or equal to $2,500 in balance. As I trade in greater amount, I might switch to Scottrade again but in the mean time I will still stick with them.