Comments on: Zecco Promotion: Lowers Account Minimum, for now, but Keeps the News like a Secret

By: Zecco To Increase Account Minimum To $25,000 For Free Trades

Zecco To Increase Account Minimum To $25,000 For Free Trades — Sat, 31 Jan 2009 04:32:39 +0000

[...] more like bait and switch. First, they offered 40 monthly free trades with $2,500 minimum, then reduced the minimum to $1,000, later removed the account minimum all together. But that didn’t last long as they [...]

By: Zecco Trading Now 10 Free Trade Per Month

Zecco Trading Now 10 Free Trade Per Month — Fri, 14 Nov 2008 05:27:55 +0000

[...] promotion with a lowered minimum requirement that didn’t want anybody to know, shortly after the secret promotion, they decided to get rid of all the paperwork for good and went even further to eliminate the [...]

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

Zecco Promotion: Removing Account Minimum to Lure More Investors — Mon, 28 Jul 2008 02:15:22 +0000

[...] been a while, they just didn’t officially announce it until now. Two months ago when they had the $1,000 minimum promotion (a unannounced one as well), I questioned whether the move signaled things were not going very well [...]

By: Lance

Lance — Tue, 20 May 2008 20:19:37 +0000

Horrible, Horrible service. Their website needs lots of work! You get what you pay for. I attempted to cancel an order and it wouldn’t let me. I placed a new order and it never appeared on my screen but when I called, it was on their screen. Multiple problems with their trading platform. My advice STAY AWAY FROM ZECCO!!!!!

Free trades are for stock only not options.

By: Zecco Scales Back Free Trading Offer | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Tue, 02 Oct 2007 14:57:24 +0000

By: Melinda

Melinda — Mon, 13 Aug 2007 17:53:09 +0000

Do not do business with Zecco! Your mistrust is not misplaced.

They are not adhering to the policies posted on their Web page, and every aspect of their customer service I have dealt with has been either stupid or rude. They waited until after I funded my account to tell me that they had frozen my account (opened 8/8/07) because they had not received my paperwork (the paperwork their Web site says doesn’t exist for customers who opened accounts after a date in May).

I contacted Penson financial, the company who they had the nerve to put ALL of the blame onto, and they informed me that it is illegal to have an account without paperwork. They are now holding my money hostage until I return the phantom paperwork that Zecco allegedly provided to me. They refuse to let me close my account and transfer the money back into my checking account until I send it back in.

Penson financial’s head compliance officer contacted Zecco’s head compliance officer, Joe Chung, who promptly called me directly and chewed me out for calling Penson. I told him that I don’t have any paperwork, and he says that Zecco sent me an e-mail (which they didn’t, I checked my SPAM box to be sure). He was so nasty, that when I asked for his name, he gave it to me, then said “I don’t know who else you’re going to talk to, though, because I’m the highest there is.�? I hung up on him, and called Penson back. Apparently they’re getting a lot of complaints about Zecco’s questionable business practices, and it seems they’re fed up.

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 18:49:10 +0000

By: Zecco Free Trading Account Opened, Plus a Review | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Mon, 28 May 2007 14:46:21 +0000

[...] on stock trading. It would be nice to eliminate the trading cost. However, my concern is that I am not very confident that they can maintain their fee structure. In the past, I have gone through the process of selling my holdings when the brokerage changed [...]

By: zeron

zeron — Fri, 18 May 2007 19:26:43 +0000

I sent an email to their customer service and I got reply from them dated May 18,2007 that I can open with a minimum of $1000. Also with their recent paperless application that might be a sign of improvement in their system. I know they were pretty backed up in the month of April being an IRS month.

By: Zecco Eliminates Paperwork in Account Application | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Wed, 16 May 2007 17:52:26 +0000

[...] still showing on their website a minimum of $2,500 for opening an account. I am wondering if last month’s promotion ($1,000 minimum) has expired or [...]

By: Is DRIP still Worth the Effort? | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Thu, 19 Apr 2007 15:21:01 +0000

[...] will have to pay a certain amount of commissions when trading stocks (Zecco is an exception, but I am not confident enough to use them yet). With some company sponsored DRIP programs, you can buy shares with zero [...]

By: The Sun

The Sun — Wed, 18 Apr 2007 19:16:33 +0000

Michelle: Actually, what I meant was if Zecco starts to charge fees for trading stocks, I don’t think their fees will be lower than other brokers that charge $3.00 per trade. In this case, I don’t have any reason to keep an account with them. If I do close the account, then I may have capital gains and have to restart the purchase with another broker. This is what I don’t like to see.

By: The Sun

The Sun — Wed, 18 Apr 2007 19:10:21 +0000

I am not confident about their business either. In my opinion commission free trading should attract lots of investors, but this low account minimum promotion doesn’t seem to support the assumption. Beside, when I can called for details about the promotion, I wasn’t really impressed by their customer service. First I was put on hold for quite some time, then during the conversation, the CSR had to check back a couple of times to get an idea what their promotion really is.

By: Secret promotion at Zecco, sign of bad times? at ProBargainHunter.com

Secret promotion at Zecco, sign of bad times? at ProBargainHunter.com — Wed, 18 Apr 2007 03:41:16 +0000

[...] rumored and then confirmed, this new promotion is in fact ongoing at Zecco. If you open a trading account before May 1, 2007 [...]

By: Yan

Yan — Tue, 17 Apr 2007 22:04:18 +0000

I am still hesitant if I should give them a try. I guess one can say I become conservative as soon as $1000’s get involved.

By: Rich Slick

Rich Slick — Tue, 17 Apr 2007 02:06:15 +0000

I tried to open an account and was finally rejected with no reason whatsoever. What really annoyed me though was the fact that Zecco kept sending me emails to Open a new account. Lol! They rejected me with no reason and then they kept pestering me to open an account.

Zecco’s problem isn’t account limits, it’s horrible customer service but you’ll find that out very quickly when you try to open an account.

By: Merchant Accounts » Zecco Lowers Account Minimum, for now, but Keeps the News like a …

Tue, 17 Apr 2007 01:35:19 +0000

[...] post by The Sun and plugin by Elliott [...]

By: Michelle Hope

Michelle Hope — Mon, 16 Apr 2007 19:30:16 +0000

You won’t have to sell if the worse happens. You will still hold your shares. You’ll just have to go through the broker who bought the shares for you via Zecco: Penson Financial.