Zecco requires just $2,500 to open an account. But you’d better be sure you’re happy with Zecco’s web site, research tools and customer service.

The firm charges a $50 fee to transfer your account out to another broker. So does Wells Fargo, and Bank of America charges $75 for a full account transfer.

Other fees these firms charge include IRA custodial fees, account maintenance fees, IRA termination fees and short-term trading fees for mutual funds. Some of these fees are waived if your account is large enough or you have enough trading activity. Just be sure to ask before you sign on.

4. How you plan to execute your trades.

Nearly all of the zero-commission deals are for online trading only.

Want a broker’s help? You’ll pay $19.99 for broker-assisted trades at Zecco, and Zecco doesn’t offer touch-tone telephone trading at all.

At Wells Fargo, touch-tone telephone trades are free (as long as you qualify for their zero-commission trades in the first place), and broker-assisted trades cost $25.

And Bank of America charges a whopping $32.50 for phone orders and $44.50 for broker-assisted trades—hardly in the deep discount range.

Zero Commissions Aren’t Necessarily Too Good to Be True

These zero-commission deals aren’t come-ons. They can work for you. You just have to know what your trading style is and what the total costs are up front.

Finally, make sure you’re comfortable with the broker’s web site interface, research tools and customer service. If you have trouble getting someone to answer the phone or your emails, it doesn’t matter how low the commissions are. You’ll want to go elsewhere.

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