Latest reviews about Zecco

JuniorRathod says "Missed trades - unreliable ACH approval. Not happy! Zecco" about Zecco

JuniorRathod — Mon, 14 Sep 2009 23:13:25 GMT

Zecco equals zero in customer service and not in trade commissions. Since, I am cheap - I wanted to go with the most economical brokerage house. However, not too long ago they increased the minimum required balance to enjoy free trades to $25000 that I don't have. So, it is no more zero dollar trades for me. It is $4.50 which is still lower compared to the others. But, I should have had realized, what you pay is what you get. Their customer service sucks big time. Zecco's clearing house is Penson, so at times you have to use their interface to download statements and trade confirmations, which is not as intuitive as other brokerages such as E*Trade or ScotTrade. On personal front, I have had a few problems with Zecco's reliability of trade execution with limit orders on 2 occassions in last 14 months. I have also had problems with incoming and outgoing ACH not getting honored even if submitted before the daily cut-off time. On one occasion, my outgoing ACH was cancelled even when I......

kaileil says "Awful, and now not free. What more can you not ask for?" about Zecco

kaileil — Fri, 30 Jan 2009 17:34:34 GMT

Do NOT trade with Zecco.

The once overhyped discount online broker has, through sheer force of will, destroyed any positive advantage or goodwill said hype may have brought it in the past. As of March 1st, they are again raising the minimum requirement for their free trades from $2500 to $25,000. They now offer absolutely NO ADVANTAGE to ANY INVESTOR, and should be avoided.

I am a current customer, and will be getting out soon. I was sucked in by their "10 free trades for $2500 minimum balance" ad. But the shoddy platform and mediocre customer service cost me more than any free trade could make up.

The platform is slow, clunky, and annoying, and the messageboards are by and large uninformative. Don't even think of trying to time a move or watch a chart. If you have to switch between screens, the random refresh time/criteria virtually guarantee you will miss your opportunity. There are no real chart tools to speak of, and the graphics on their charts are sometimes unreadable. ......

OnlineBrokerReview says "Zecco is a great value" about Zecco

OnlineBrokerReview — Mon, 22 Dec 2008 02:02:57 GMT

Zecco is recommended for stock trading and basic options trading

Zecco has very low commissions and fees. Be aware that Zecco now requires account balances of $25,000 or more to receive 10 free trades per month. Zecco has a good registration process and high quality stock trading engine. The options trading engine is adequate for basic order types but those who utilize complex option trading strategies should look elsewhere. Charts and research tools are not as stellar but these drawbacks should not deter the bargain investor from trying this service.

Registration ........................................... B
Stock Trading ........................................ B
Options Trading ..................................... C
Charts .................................................... C
Research Tools ...................................... C
Commissions and Fees (Pass/Fail) .... Pass

Read my full review of Zecco and other major online brokers at http://onlinebrokerreview.blogspot.com/

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mrlycus says "Free online trading on Zecco" about Zecco

mrlycus — Mon, 03 Nov 2008 08:39:36 GMT

Zecco is an online brokerage that I have been using for the past year. The greatest thing about it: 10 Free trades a month, so long as you have $2000 in cash/stock in your account. I believe this is the only online brokerage that does this.

However, there is one downside to this brokerage. At times, I have experienced trouble accessing my account, probably because too many people are trying to access Zecco at once. So if you are a serious trader, or a day trader, you might want to choose a more reputable online brokerage that will be free of any downtime.

But if you are just an average investor and invest for fun and small gains, then Zecco is great for the no comission.

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