Latest responses to “Zecco Review: Free Online Stock Trading” Copyright 2012, MoneyBlueBook.com 465920 2010-11-03T08:49:31-07:00 Mike Kepler PS: Concerning the example of the limit, they do that all the times not for only one operation and the most scary part is that they change the history of the trades at will (so you have no evidence that you have been robbed unless you take screeshots during the trading session). 465910 2010-11-03T08:45:30-07:00 Mike Kepler I've veen a customer of zecco and they are absolut scam. First for withdring money they ask 50 usd and they add 20 usd for withdrawal cancellation. They charged me 20 usd for cancellation + 50 usd but i did not cancel my orderof withdrawal. Second, their margin account is pure theft. I never borrowed money from, always traded with my cash and they charged about 200 usd commissions on margin trading !!! Last and not least, their execution in options trading has severe slippage even on the most liquid index the SPY. I lost about 2000 usd due to lag between my order and the execution if I sum all my operation (ex: I have set a limit order for covering a short of SPY call at 1,50 USD per unit and I get filled 1,53 X 200 contracts). They are thieves, you've been warned. 465870 2010-08-11T02:06:48-07:00 Alton Delmote Penny stocks are difficult to be dealt with if you lack in properly studying their behaviors. I have been doing well with my stocks, and that the reason that I know that you can do well with them, too. Never think that I keep all day watching these stocks as I have many other things to attend to. But I have taken a wise step for which I am able to do well with my stocks. I have subscribed to the stocks newsletter at www.pennyinvest.com which helps me to determine the best stocks to pick and the poor stocks to dispose. So, I am not required to make any studies but I follow their recommendations. 465900 2010-08-06T06:22:44-07:00 Stocks Buy I said I know but I made a request for **Available Balance**They told me That is not how our accounting dept sees it�� At this time they also informed me I was going to be charged $20 for my request because I checked a box when requesting my money to waive the waiting period of unsettled trades to receive my money. I said when I made the request for withdrawal of funds, there was no check box that gave me that option. 465890 2010-08-05T09:12:48-07:00 tim The website can be a bit klunky; however, I have no problem in recommdending Zecco. Try it; you'll like it! 465880 2010-07-15T17:50:28-07:00 cfcwgjius Yeah I do think a jump from $2500 to $25000 is a big leap for me to get 10 free trade. And to have an issue with withdrawaling money from the trading acc. is something I don't like either. As for customer service, I do think that the firm need to do a good job on solving the problems that new or existing customers have. I had one attempt to open an acc. at Zecco a few years back, and it consumed me months but stilll my application was apparently lost in the process, and to this day I still don't know who's responsible for it. Then there'll be technical issues like long and short on one stock the same time, and acc. book keeping concerns as well. 465860 2009-11-18T21:26:36-08:00 About This Whole Zecco Scam Accusation Zecco is not a scam. Those of you calling Zecco Trading a scam obviously have not opened an account and actually used Zecco There are many more things out there are scammy than this company. Just because a discount brokerage firm tacks on certain stipulations to get access to free online trades does not necessarily make it a full blown scam operation. The same probably can be said for online promotions such as the free credit score deals that sites like FreeCreditReport.com offer. They have fine print that the consumer ought to read carefully before engaging in. Use your head people and look before you leap. 465770 2009-07-04T00:27:24-07:00 SoCal I have used Zecco for over a year, so I was there for the transition from completely free trades to the requirement of an account balance. First off, it's a discount broker. I don't understand the argument of selecting, say, TDAmeritrade over Zecco. I have accounts at both. Zecco offers the same service as TDAmeritrade, but at a lower price. I haven't moved all my assets to Zecco, nor will I. I just don't trade that much. For what it offers, Zecco is good. I was actually glad that the company started charging for trades with those having a balance of under $25k; it gives me confidence for the future. The website can be a bit klunky; however, I have no problem in recommdending Zecco. Try it; you'll like it! 465780 2009-07-02T12:13:15-07:00 No2Zecco I would just like to share my latest experience with zecco when I tried to withdrawal money…Here we go! First I have in my ������Available Balance' $32.00…I liquidated one of my stocks totaling about $200.00 on Friday…I made a request for ***Available Funds*** on Saturday. Of course the $200.00 unsettled funds were not part of that request because it was unsettled. Well come Monday they submitted my request for **Available Funds** but I recieved an email saying they were denying my request. I made a call and they informed me I had unsettled trades out there….I said I know but I made a request for **Available Balance**…They told me "That is not how our accounting dept sees it" At this time they also informed me I was going to be charged $20 for my request because I checked a box when requesting my money to waive the waiting period of unsettled trades to receive my money. I said when I made the request for withdrawal of funds, there was no check box that gave me that option. They informed me that it may be my computer because it my have ������Blocked' the pop-up for security purposes…I chuckled needless to say. Anyhow, they then informed me, I needed to call in to verify "I" checked a box that I didn't know was checked because of a pop-up that never came up because of sercurity on my pc…Otherwise, they would have and did deny my request. I said so what your telling me is…Although I made a request for **Available Balance** (no matter how much I had in there) they were going to deny my request because my trade the previous week that had nothing to do with my requested withdrawal was not available…. And….I never called in on something I didn't know was **Automatically** checked regardeless if I knew about it or not, you were going to deny my request. Futhermore, the $20 that I was being charged for no waiting period of unsettled funds obviously was still not going to get the withdrawal settled. I am still confused.******* I then made a request while on the phone with customer service…There was no option to choose to add $20 to waive the waiting period and….I did not even see a pop-up blocker message to give me the option to view the so called pop-up….Hmmmm!!! Sounds like a Madoff spin-off to me…But what do I know. I just requested my ***Available Balance**…Honestly, I only did it to see how long it would take to recieve my money. Now, this has led me to defect back to ing sharebuilder…I guess in this case you really do get what you pay for….You make the call on this one!!!! 465850 2009-06-25T10:24:30-07:00 Daryan If you are seriously trading, why would you need customer service anyway? CS has improved greatly over the last year. Just a couple days ago I sent an order to exercise a call option and sell at the market sue to the B/A spread and it was completed 10 minutes after my e-mail. I haven't had any problems at all on that end. The research stinks, S&P only, but analysts are worthless for the most part anyway, so why bother. My only gripe is lack of trigger orders, trailing options stops, etc, but this is only a minor issue and requires just a bit more effort on my part which is probably good anyway. Execution is first rate. Paying 20 bucks per trade for absolutely nothing is ridiculous unless you need the software with schwab etc. I use metastock, so not a big issue in my world.