February 13, 2007

Zecco Disputes Wells Fargo's Claim to be Best Commission-Free Online Trading

Wells Fargo Restricts to a Few What Zecco Provides access to for All.

Burlingame, California

Zecco.com, the industry's first online trading site that provides access to zero commission trading, points out that Wells Fargo's new offer requires a high balance and gives investors too few free trades.

"We are pleased to welcome another legacy bank with a half hearted offer to the free trade community, but it's too little, too late," says Jeroen Veth, CEO of Zecco. Zecco provides access to up to 480 stock trades per year with a minimum balance of as little as $0 through its association with Zecco Trading, a division of Equinox Securities, Inc. a NASD, SIPC member firm.  "The old-school banks are trying to get into the free trading game, but all of them have a huge catch and none of them deliver value to investors like Zecco." 

Wells Fargo requires $25,000 in combined balances and gives customers only 100 trades per year.  Bank of America requires $25,000 in uninvested cash, which can generate $1,000 or more per year of revenue.  And, both banks charge an additional account fee:  $100 per year for Bank of America and $60 per year for Wells Fargo.

Through Zecco.com, there are no catches.  You can open a regular brokerage account with Zecco Trading and get up to 40 free trades per month with a minimum initial investment of $2500 in cash or securities.  What's more, you can open an IRA with $0 minimum initial contribution and get up to 40 free trades per month. A $30 annual custodial fee does, however, apply.

Comparison of Free Trading Brokerage Accounts

Note: Zecco/Zecco.com is not a securities broker/dealer. All securities and investments are offered through Zecco Trading, a division of Equinox Securities, Inc. Member NASD SIPC. The 10 free trades per day, 40 free trades per month offer are only available through Zecco.com.