Comments on: Zecco IS Cheap

By: Zecco Promotion: Removing Account Minimum to Lure More Investors

Zecco Promotion: Removing Account Minimum to Lure More Investors — Mon, 28 Jul 2008 02:14:46 +0000

[...] was tipped off by Joe yesterday about the change and just got an email from Zecco this morning that now you can open a Zecco trading account with no [...]

By: Who Takes Back the Pennies? | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Sat, 30 Jun 2007 15:52:19 +0000

[...] was quite surprised when Zecco took back the two small trial deposits from my checking account after the account verification process was completed. The total of 40 [...]

By: Mercedes

Mercedes — Wed, 06 Jun 2007 06:31:11 +0000

Just opened an account with them; was reading their information section on trading and it seems that as long as you request you can setup a drip with the stocks you invest in. Sort of like Sharebuilder but with no cost! If true, then I’ll mess with this account when I get some funds that I would otherwise waste.

SogoInvest, I’m still waiting for them to add to their offerings hopefully I can also setup a drip with them some day. Pretty much decided to use them as my testing bed since I really didn’t like sharebuilder once I realized the exit price. Hopefully like everyone is mentioning they will keep to their fee schedule instead of changing it in a few months or years.

By: Finance Findings For Tuesday, June 5, 2007

Finance Findings For Tuesday, June 5, 2007 — Wed, 06 Jun 2007 01:45:19 +0000

[...] Zecco IS Cheap [Sun’s Financial Diary] [...]

By: Zecco Removes Account Minimum to Lure More Investors | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Tue, 05 Jun 2007 15:57:45 +0000

[...] for $0.99Top 5 Reasons I Started and Continue A Personal Finance BlogVideo: A Revolution in TradingZecco IS CheapHSBC Introduces New Online Payment AccountAround the PF Blogosphere: June 1, 2007Zecco Free Trading [...]

By: Richard

Richard — Mon, 04 Jun 2007 23:29:08 +0000

Joe is right! This from their FAQ:

What is the minimum amount required to open an account?
Zip, nada: there’s no minimum deposit required to open an account.

By: Joe

Joe — Mon, 04 Jun 2007 22:30:33 +0000

They have changed their Minimum account opening to $0. I was reviewing their faq today for the next step in my review and I noticed this. I deposited a couple of hundred bucks but the market was closed by the time I tried to execute some trades today. I don’t think there will be a problem

By: Sun

Sun — Sat, 02 Jun 2007 18:48:02 +0000

Rick: Thanks pointing out the fine print. I didn’t read all the fine prints (I hate fine prints), so I must miss the withdraw part. Anyway, that doesn’t make me feel any better. I really can’t understand why they just have to take that 40 cents back. If everybody else using trial deposit give me the money for free and only Zecco takes it back, then I am afraid I won’t have a good impression of them. Fortunately, I used a checking account, so I don’t have the over withdraw problem.

By: Rick

Rick — Sat, 02 Jun 2007 18:06:49 +0000

Richard: They do say in the fine print that they will withdrawl the money again. I do think it sucks that they do this, but they do still at least say they will withdrawl the money.

By: » This Week In The News on Blueprint for Financial Prosperity

» This Week In The News on Blueprint for Financial Prosperity — Fri, 01 Jun 2007 12:06:09 +0000

[...] Zecco took the trials deposits back from Sun when he opened his account! I think I remember another account doing the same thing but not many. [...]

By: The Travelin' Man

The Travelin' Man — Thu, 31 May 2007 16:32:06 +0000

I thought it was weird, too, when I opened my account. Fortunately, the account that I tied to Zecco was my checking account, and not my savings account, or I would have been mad if it affected the number of withdrawals I could make. I viewed it the same way you did - not my money, but it sure does make them look a chincy when most other institutions would just leave the money in your account.

By: Mercedes

Mercedes — Wed, 30 May 2007 21:00:48 +0000

I forget which of my own financial institutions did the same to me; they gave me then they tooketh awayeth.

They probably want to reuse the money for the next customer!

By: Al

Al — Wed, 30 May 2007 20:48:49 +0000

Thanks for the info! I just opened an account wiht Zecco.
U can’t beat free comissions! Hopefully, there are no other strings attached/hidden fees

By: Richard

Richard — Wed, 30 May 2007 19:31:54 +0000

Why this kinda pissed me off is that I can’t recall them mentioning they’d withdraw the deposits, and therefore didn’t plan for them, which totally screwed my 6-withdrawals-per-month limit from my MMA!!