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Trade Execution Quality at Zecco Trading

At Zecco Trading, not only do you get free stock trades and low cost options trades, but you also get high quality trade executions whether you buy or sell a security.

What is trade execution?

Trade execution refers to the completion of a securities transaction between a buyer and a seller. It's an important metric to check as you look for an online broker. And, how your order is executed can positively or negatively impact the overall costs of the transaction, including the price you pay for your stock.

How's it measured?

We measure our trade execution by four trade quality indicators. Click the links below to find out how we stack up to the industry average:


Trade Quality Indicator Penson Performance (Zecco Trading's clearing firm) as of July 2008

Effective/Quoted

Represents the percentage of orders executed outside the midpoint of the quoted spread. A lower number demonstrates greater depth and liquidity. 		105%
Details

Price Improved

Represents the percentage of orders executed at a price better than the National Best Bid or Offer (aka NBBO) at the time the order was received. 		59%
Details

Speed

Represents the average elapsed time from when market orders are received and when they are executed. 		1.07 seconds
Details

At or Better

Represents the percentage of market orders that were executed at or better than the National Best Bid or Offer (NBBO). 		81.9%
Details

What's the National Best Bid or Offer (aka NBBO)?
The NBBO is an SEC requirement that brokers must guarantee customers the best available ask price when they buy securities and the best available bid price when they sell securities.

Zecco Trading relies exclusively upon Penson Financial Services, Inc. (“Penson”) for order routing. Pursuant to the Exchange Act Rule 606, Penson is required to make publicly available a quarterly report with regard to routing its non-­directed orders. Please click on the following link to view the most recent quarterly report for Penson: ftp://public.s3.com/11ac1-6/pfsi

Penson will pay Zecco Trading between 0% and 80% of order flow payments and rebates received by Penson on Zecco Trading’s Customer orders. In some cases this payment will be based upon averages received by Penson on an order type rather than actual payments on Zecco Trading’s Customer orders.

Past performance related to order execution quality is not a guarantee that the same results will be achieved in the future.

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Zecco Trade Execution Benchmarks

  • Effective/Quoted

  • Price Improved

  • Speed

  • At or Better

  • Source: Statistics cover orders handled by Penson's 'MNGD' route and reflects market orders sized 100-5000 shares. Statistics provided by S3 Matching Technologies. S3 is an independent company and not affiliated with Penson Financial. Industry statistics are derived from Rule 605 data.
    Zecco Trading is committed to providing our clients with best execution by monitoring the execution of client orders. We use a regular and rigorous methodology to review executed trades against time and sales data from all market centers. On certain occasions, Zecco Trading will make price improvement adjustments for our clients.
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More details about online investing and trading stocks with Zecco Trading:


Zecco Trading has reconstructed the mold of options trading and stock trading online, making it easier than ever for you to get smart and act smart with your money. Need to sell stock or buy stock online, interested in penny stocks? At Zecco Trading, get 10 free stock trades every month when you maintain a $25,000 balance or execute 25 trades each month. Otherwise it's just $4.50 per trade. Free Online Stock Trading Details. Where else will you find a discount broker who looks out for your best interest by providing you free online stock trading and a community of investors to share ideas with?

Privacy Policy - User Agreement - Margin Disclosure - Risk Disclosure - SEC Rule 606 Disclosure - Penny Stock Disclosure - Business Continuity Plan - About Us - Contact Us

Zecco.com is a financial portal of Zecco Holdings, Inc., which also provides access to Zecco Trading, Inc.'s trading service. Zecco Holdings, inc. is not a securities broker/dealer. All securities and investments are offered to self-directed investors by Zecco Trading, Inc. Member FINRA /SIPC. More information is located on the disclosures page.

At Zecco Trading, get 10 free stock trades every month when you maintain a $25,000 balance or execute 25 trades each month. Otherwise it's just $4.50 per trade. Free Online Stock Trading Details. Options trades are $4.50 plus $.50 per contract. Only the first account of any account type is eligible for the Zecco Trading, Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program. Free Trading Program is only available through Zecco.com. $0 minimum to open cash and IRA accounts.

* Margin accounts require a $2,000 minimum balance for opening and trading on margin. Margin trading involves risks and is not suitable for all accounts.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.

Multiple leg options strategies involve additional risks and multiple commissions, and may result in complex tax treatments. Please read Spread Trading Disclosure.

Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund or ETF carefully before investing. A mutual fund/ETF's prospectus contains this and other information, and should be read carefully before investing.

Forex trading involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained does not constitute investment advice. Read full disclosure.

Investors should consider market, maturity, and interest rate risks before investing in fixed income products. It is the responsibility of the client to understand the terms, conditions, risks and rewards of fixed income products as risks can be substantial.

System response and access times may vary due to market conditions, system performance, and other factors.

The content of Zecco Holdings, Inc.'s and Zecco Trading, Inc.'s websites, including research, tools and securities symbols, is for educational and informational purposes and should not be intended as a recommendation or solicitation to engage in any particular securities transaction or investment strategy. You alone are responsible for evaluating the benefits and risks associated with the use of our services or products and to decide which securities and strategies better suit your financial situation and goals, risk profile, etc. The projections regarding the probability of investment outcomes are hypothetical and not guaranteed for accuracy or completeness. They do not reflect actual investment outcomes and are not guarantees of future results. Projections and tools' calculations do not take into consideration commissions, margin interest and other costs that will impact investment outcomes. All investments involve risk. Losses may exceed the principal invested. Past performance of a security, market, or financial product does not guarantee future results. Neither Zecco Holdings, Inc. nor Zecco Trading, Inc. offers any tax, legal or financial advice. Content on these websites may be out of date or time-sensitive. Content is subject to change or removal without notice.

No consideration was paid for any testimonials displayed on this website. Your experience may vary, and the testimonials are no guarantee of future performance or success. Zecco Holdings, Inc., Zecco Trading, Inc.'s and their independent providers are not liable for any errors, incompleteness, or delays, or for any actions taken in reliance upon information contained herein. By accessing our websites, you agree not to redistribute the information found therein.

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