How to Use Zecco Day Trade
Zecco is an online discount stock broker that offers no-commission trades to qualified investors. The Financial Industry Regulatory Authority--FINRA--requirements for pattern day trading accounts meet the Zecco requirements for free stock trades. Zecco is a good option for day traders that already have a trading strategy.
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Instructions
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Set up a logon on the Zecco website home page. The Zecco system requires a membership in the website before you can open a trading account.
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Complete the account application information. Once you have signed up for the Zecco website membership you can complete the application for a trading account.
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Fund your Zecco account with at least $25,000. The FINRA rules require at least $25,000 in trader equity for day trading in the stock market. A $25,000 balance also qualifies you for 10 free, no-commission trades per month.
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Download the Zecco Streamer real-time quote and charting software. The Streamer provides portfolio analysis and the technical indicator tools that day traders use for stock trading. The Zecco Streamer software is customizable for your trading style.
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Sign in to the Zecco online Trading Center to place your stock trades.The Trading Center is set up to allow all of the types of trades stock day traders use.
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Tips & Warnings
Zecco is more appropriate for experienced day traders looking for low commission costs. Qualified accounts get 10 free trades per month, and additional trades have a $4.50 commission.
The Zecco alerts center allows you to set up detailed price alerts for a list of stocks. The alerts center can help automate your stock selection for trading.
The Securities and Exchange Commission warns that day trading can lead to severe losses, and many new traders never are profitable. Zecco does not provide a system to teach day trading, the broker just provides a platform for traders to use.
References
- Photo Credit stock market analysis screenshot image by .shock from Fotolia.com
