Comments on: First Trading Experience with Zecco

By: StockTradersBlog

StockTradersBlog — Sun, 31 May 2009 07:34:31 +0000

Is there any comparison between Zecco and TDAmeritrade? I am using TDAmeritrade to do my day trading and it works fine so far

http://www.stockstradersblog.com

By: Frank C

Frank C — Tue, 21 Apr 2009 00:05:51 +0000

On two separate occasions, Zecco charged me margin interest when I had no margin balance. On 3/23/09 I transferred my account to TradeKing. 2 strikes and your out when you mess with my money.
Zecco has now (4/14/09) taken $155 out of my TradeKing account for margin interest. I had NO margin balance with them!!! The last I heard, this is called theft. They use Penson as the clearing agent.
I find it amazing that 3 weeks after transferring my account out of Zecco into TradeKing, Zecco is allowed to do this. I will be contacting the appropriate regulatory agencies as well as my securities attorney if these monies are not restored to my account.

By: Xinhua Finance Media Keeps Marching Higher

Xinhua Finance Media Keeps Marching Higher — Fri, 14 Nov 2008 04:22:53 +0000

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By: Generating Passive Income with Dividend-Paying ETFs and Stocks

Generating Passive Income with Dividend-Paying ETFs and Stocks — Thu, 13 Nov 2008 06:25:16 +0000

[...] be sure to check out my Zecco review and first Zecco trading experience before opening your account. If you found information on this Diary helpful, please consider [...]

By: What Zecco Has Done to Improve Their Service: An Interview with Zecco Trading

What Zecco Has Done to Improve Their Service: An Interview with Zecco Trading — Thu, 09 Oct 2008 02:06:44 +0000

[...] Since then, I have used my Zecco account quite actively (especially with my play money) and shared my experience. Like many other Zecco customers, I like the idea of paying zero commission to buy stocks, but I [...]

By: Lee

Lee — Mon, 11 Aug 2008 13:56:08 +0000

Hello all,

Im about to open a trading account. I need update information con and pro from Zecco. many thanks

By: June 2007 Highlights

June 2007 Highlights — Sun, 04 May 2008 01:56:05 +0000

[...] 1. First Trading Experience with Zecco [...]

By: Discount Brokerage Firms: A Review of Scottrade, Firstrade, ShareBuilder, and QQQDirect

Fri, 25 Apr 2008 03:49:09 +0000

[...] be sure to check out my review of the broker and my first trading experience before opening your [...]

By: Sun

Sun — Thu, 10 Apr 2008 01:18:37 +0000

Max: For Zecco, I don’t have a positive experience with them either and the only thing I do like is the commission free trading. Their website is difficult to use and their customer service is pretty bad.

By: Max

Max — Wed, 09 Apr 2008 17:34:19 +0000

I used this review extensively in attempting to determine if Zecco would work for me or not. I eventually did open up an account with Zecco, and have had a so-so experience.

If you would like to see my thoughts on Zecco you can see them here: http://maxopedia.org/?q=zecco-brokerage-account-review-april-2008

By: Scottrade’s Customer Service | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing

Thu, 27 Mar 2008 01:58:49 +0000

[...] the past about my experience with them, but nobody ever contacted me for the issues I, as well as other customers, encountered when dealing with [...]

By: kexor

kexor — Tue, 11 Mar 2008 18:08:15 +0000

Have been trying to get my account activated at Zecco for a long time. Paperwork, paperwork paperwork. Site navigation difficult. They let me transfer money into my account. But when I want to take money out, they say I’m missing paperwork. There were no warnings or alerts of any kind when I was putting money in. Now I’m stuck with customer service that is so notoriously difficult to talk to — they don’t answer any questions! They have one less customer.

By: Mark

Mark — Wed, 19 Dec 2007 21:48:18 +0000

I’ve also had problems with Zecco. My Account was approved and everything, but when I transferred money into it I could not trade. When I tried to withdraw money from my account they wouldn’t let me because of “The Patriot Act”, or so they say. They’re so full of sh*t, and their customer service is horrible. I staid on the line for five hours just to talk to an idiot for a couple minutes. Now they have around $10,000 dollars of my money that I can’t get back and I can’t trade with. It’s probably going to cost me at least 10k just to sue them so I can get my darn money back.

By: Pete Young

Pete Young — Tue, 20 Nov 2007 07:09:58 +0000

I was thinking about opening a Zecco stock trading account, but after reading the above readers comments, I am not too sure.

This company seems to have a lot of customer, service, software, etc. related issues. Can someone give me a good reason to use this brokerage other than it is free?

By: li

li — Fri, 02 Nov 2007 14:36:02 +0000

For new account holders, the trades are being rejected because your account has not been completely activated. When you call they will activate the account for you . And then you log back on. I called today and the trade executed immediately. If you don’t see the trade reflected right away hit the refresh button. –Happy Trading!

By: Mina

Mina — Sun, 14 Oct 2007 07:28:59 +0000

Zecco is okay since it’s free to trade.

By: LB

LB — Fri, 12 Oct 2007 18:49:19 +0000

Zecco won’t give me back my $6,000.00. They keep saying they need more paperwork to release my money. And so far I haven’t gotten a cent back.

First they told me my account was approved and I could start trading. I deposited $6,000.00 into the account but I found out that I had no trading so I tried to take my money out and zecco keeps canceling it.

You can put money in but you can’t take it out.
Read other posts of people not getting their money back.

By: stock trading

stock trading — Fri, 21 Sep 2007 02:41:30 +0000

stock trading…

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By: Cheap Trading: Zecco.com : SavingWithMe.com

Cheap Trading: Zecco.com : SavingWithMe.com — Fri, 07 Sep 2007 17:23:53 +0000

[...] First Trading Experience With Zecco [...]

By: Tradingguy

Tradingguy — Fri, 31 Aug 2007 13:39:24 +0000

So, if you keep a “cool head�? about verifying your identity (without taking offense, as in an airport security check), send in the paperwork (fax and mail), check-up on your paperwork status (yourself…as you should be consistantly familiar with your account,every aspect/tab), have some patience (1wk-1mth), and don’t setup more than 1 account…I can have a free trade account that I can trade ANY…ANY stock I choose?
Another fact I’ve noticed (and the main reason I went with Zecco) is that Zecco does not determine what stocks I’m allowed to trade. -Unlike my former Sharebuilder account, I mean, its MY MONEY…kewl beans :^)=

By: Posts I Enjoyed Last Week | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Sun, 05 Aug 2007 17:09:50 +0000

[...] Money talks about two great new ways to invest: Prosper and Zecco. I am using Zecco (I have shared my experience) but no Prosper for me for now as I didn’t get time to study how it works [...]

By: Chris Posey

Chris Posey — Tue, 24 Jul 2007 21:08:47 +0000

I called again yesterday. Their response was “for some reason, the electronic signature didn’t go through.” That concerned me a little–why wouldn’t my electronic signature go through? I’m a high school teacher and am about as harmless and “unquestionable” as a person could be with regard to investing. Nevertheless, I did both mail and fax my paperwork to them. I checked earlier today, and I’m still unable to trade. At least my conversation with customer service yesterday was a pleasant one. The agent was as helpful as she could be, but she didn’t have an answer to the electronic signature question-a pretty important question.

By: Sun

Sun — Mon, 23 Jul 2007 05:06:01 +0000

Chris: I am really surprised by the request of all paperworks. Did you ask them why you have to submit the paperworks? The message seems to be an error as you don’t have any position before the first trade. In any case, that message shouldn’t appear at all. I have the feeling that if you call again at a different time, you may have different answer.

By: Chris Posey

Chris Posey — Fri, 20 Jul 2007 19:58:03 +0000

Recently started up my Zecco account. I attempted to trade today (first time). I kept getting the “Only orders that liquidate positions are allowed�? message too. I called Zecco. The guy I talked to was very friendly and informative, and the wait wasn’t too bad (considering it’s a Friday afternoon, 10 minutes before the end of the trading day). Anyway, the guy told me that I needed to send in some signed paperwork-which surprised me, because, at Zecco’s behest, I forged through their FAQ section first, where I found the following Q/A: “I signed the online application form electronically. Do I need to mail or fax a hardcopy of the application documents too?
If you applied for an Individual or Joint account on or after Thursday, May 10th, and you have a US Social Security Number, you’re all set.”
All conditions applied to me, yet I still have to send in all of the paperwork. Then, 3-5 more days before I can trade. Not a huge deal, but a tad confusing. If you continue getting this error message, check the “myInfo” tab to make sure that it says “No” next to “Outstanding Paperwork.”

By: JT

JT — Tue, 17 Jul 2007 20:06:08 +0000

I just opened an account with Zecco. Funded the account on Friday via ACH. Called them Monday and they told me that the transfer will be processed in 2 business days. It’s Tuesday now, and there is no money in my account. Called Zecco and CSR with a drone voice told me that the transfer will reflect tomorrow, Wednesday. He has nothing else to say for the delay, no apologies no reason why funding hasn’t posted to my account.

So don’t believe them when they say it will take 2 business days to process your ACH transfer. Customer service does suck! But, hey …it’s free and there is no minimum balance required.