Comments on: How Does Zecco Stack Up?

By: Guillotine

Guillotine — Sat, 02 May 2009 05:06:37 +0000

I absolutely have to jump in here with a very strong warning: Stay away from Zecco!! The customer service is non-existent. They have nothing you can rely on for tools, and they have the guts to charge you for anything that even resembles being useful. They require you to have $25,000 in your account before you can (maybe) get a free trade, they censor any post you may want to make in the forums, thus robbing people of the right to judge quality based on the experiences of other folks, they have a very, VERY slow web site, they have trouble keeping the site stable during trading hours, and many times you can not get logged in. They are very slow to place trades, they do not allow trailing stop percentages, they have lousy support……I can go on and on about how raw of a deal this is. Be warned, if you decide to open an account with them after reading this advice, you WILL indeed find out many other poor quality shortcomings they have. Stick with Ameritrade, Scottrade, E*Trade and other brokerages that have earned the privilege of your hard fought for dollars. Zecco WILL rip you a hole where you never thought possible.

By: matt o

matt o — Sat, 18 Apr 2009 04:11:13 +0000

I know the 10 free trades are attractive, but there is one fatal flaw with Zecco: inability to do tax lot selling. All they have is lifo, fifo and hifo. This is not flexible at all.

Also, Zecco has made lots of people angry with their recent antics. Several CSRs were unable to give me a straight answer on the inability to do tax lot selling. Only to find out that I cannot.

I’d go with either TradeKing or OptionsHouse. I’m going with latter because I’m not a US Citizen. Both have ACAT fee rebate promos running now.

By: Easter Monday Notes And LinkStuff

Easter Monday Notes And LinkStuff — Mon, 13 Apr 2009 09:02:58 +0000

[...] My Dollar Plan does a review of Zecco online brokerage. [...]

By: Kate

Kate — Tue, 07 Apr 2009 19:29:46 +0000

I might be wrong, but I think you’re in the minority on Zecco’s April fools joke. It might be funny to some, but this small action that Zecco (which they are now claiming was a technological glitched caused by a 3rd party vendor, not a joke at all) intended as a humorous gesture might actually be the downfall of their company. It’s just another example of the power of small– how our littlest actions can have an enormous impact.

By: Dan

Dan — Tue, 07 Apr 2009 15:23:55 +0000

Another positive of changing over from Scottrade to Zecco is Zecco doesn’t charge for re-investing dividend returns.

By: WSM

WSM — Tue, 07 Apr 2009 02:45:59 +0000

I’m curious what led to your decision to replace Scottrade. I have heard positive feedback from a few different friends, and have not heard negative feedback from anyone. I was about to open an account with them, so I’d like to hear what you were disappointed with. Thanks.