Zecco Review * FREE Stock Trading *
By Brett Goldstein on Mar 24, 2007
This sounds too good to be true but I read somewhere that Zecco offers free trading. If anyone has ever used this service please post a comment and tell us about your expereince. I really want to change brokers but I am afraid that one of these brokers will go out of bussiness and take my money with them.
If anyone uses zecco, Ineractive brokers or any other service that is extreamly cheap post some comments. Thanks
53 Responses to “Zecco Review * FREE Stock Trading *”
I use IB and Zecco. For short term trading, I would use IB, even though it is not free
I use IB Canada and I find it great. It may not be free, but it’s definitely cheaper than any other broker around here. Fast executions and great platform to work with. Data feeds are extra.
FT
I use Zecco for my short term trading. It works well for me. Only 1 problem I found, you can’t trade after-hours.
I can trade after hours with IB. Make sure you have IB set to allow you to do AH by going to preferences.
i use ameritrade special price $5.00. i told them i am goingto Tradekiing they gaveme special since i trade 20-30 trades/day.
Make sure to read Zecco’s forum, there has been A LOT of complaints on these guys, apparently it can take several MONTHS to get your account up and running, and no I am not exaggerating…
If you dont need hand holding, IB is the best trade platform for the price..I been with them for 3 years.
I second IB, very robust platform with a lot of features. Trades are pretty cheap too.
I’ve been pretty happy with MB Trading. They have very good rates. I haven’t used IB, so I can’t offer a comparison.
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Zecco customer service is non existant. I left a message on Monday (they don’t answer the phone) no response and today is Friday. Still have not been able to execute a trade and they have my money!
wat is IB ………. zecco is not working for my.
I use fidelity to much money 10.99 and zecco is not intrested in ther costumers…. what is IB and the wedsite >>>>>pleace
Ib is interactive brokers. I have been using it for about 1 month now. The only thing that I dont like is that you can not be short and long in a stock at the same time. Also I tried to short JSDA and they said there were no shares to short, but then I tried on scottrade and it worked find. So I would use IB, but def have some money in another account just incase it gives you trouble.
anyone has a way or a better way to save money trading. Iam fedup with online brokers ther prices a services…… idea pleace
Zecco sucks. I opened an account for more than one month. I can only access the account one week. When you call them you need to wait very long. The customer representatives were polite. But they are very slow. It took more than one week to resolve a problem.
why does everyone posting on here not know how to spell or edit themselves???
Zecco is awesome for my style of trading which is trade only once or twice per month.
I love the free trades and their money market sweep is very competitive at 4.xx%.
The fact that they save you money on trades is also great.
Read more about it in my review of Zecco
one of the worst customer service departments. they never have idea about your account. took me more than 3 weeks to get an account opened up, also i had deposited money into that account but couldnt conduct trade till they took 2 weeks to approve my account. I would rather have paid fee to do transactions than waiting for so long. I could have made way more by investing in this period.
Don’t never ever open the account with them.
I open one and now i try to get my money out and run away.
- You can put money in easy , but out : no way
- The site is worst i never seen in my life (hard to use when you login account already)
- the customer service is worst
- Not enough data for research
- Stay away from cheap stuff, they never last long and you will lose your your money (when they bankruptcy, shut down the site…and you can’t contact them)
If you guys don’t trust me. go ahead open , and you will see
I have used it for 3 months with no problem. dont listen to fools said about zecco
have an account with Zecco and would say that you have to pay for these free trades one way or another.
Most execution have been OK but on several occasions had stops triggered when the price was still 10% away ( I am not joking)
When I complained about it, was told to take my business somewhere else.( thats customer service for you)
For what I gathered customer service doesnt seem very knowlegable about trading.
I m waiting to find a better broker and will indeed take my business somewhere else as suggested.
When creating an a/c the terms and conditions say:
“AUTHORIZATION TO EARN INTEREST ON FUNDS AWAITING INVESTMENT
This is to confirm my intention to reinvest cash credit balances held by you in my name, and I further confirm that this cash credit balance is being maintained with you solely for the purpose of reinvestment….”
Does this mean that once you lodge money into the a/c, it can’t be withdrawn? i.e. can only be used to buy/sell stocks? So how can you withdraw profits?
Thanks
I am using zecco from july 2007 so far no problems of any kind my account was up and i was good to trade in about 2 weeks make sure you have all of the paper work done and do not leave out any forms as with other thats there main issue…………. good luck
Zecco site is down Monday morning 4/14/2008!!!! I can’t even get to the login page!!!!
This is really a CHEAP !!!!!!!!!
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 o my screen but when I called, it was on their screen. Multiple problems with their trading platform. My advice STAY AWAY FROM ZECCO!!!!!
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stay away from zecco.
I wanted to save on commissions, but found I lost more on zecco’s unreasonable buying power rules. For cash account, you have to wait for settlement day (T+3) to get buying power back from sold stocks. For margin account, you have to wait for T+1 day, even though the FAQ says “immediately”.
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Wish I would have read these before I signed up with them a few months ago. I’m now trying to close my account, but they say they can’t return my funds until I fax a letter updating my mailing address. It has been 2 days since I sent that to them, and not 1 word from their customer service. This has been going on for 2 weeks and all I want to do is get my money out of there and close the account. Super frustrating!
ZECCO TRADING SUCKS, and I have to go through this not once, but twice because I forgot how really bad the service is. I literally have been on hold for 1.5 hours and still counting—really!!!!!!! I am getting out of all possible positions so that I can start another account elsewhere–any suggestions, already have a Scottrade and Sogotrade accounts. Need one that will do stock and options trading.
I researched Zecco as well and i put my money
it it to really check it out and decided it
was a bait and switch. It took over a month
before I could take my money out, so before
you decide to deposit money remember this
old saying (If It Sounds Too Good To Be True
-thats right) so I took a good advice and
signed up with scottrade.com and got 3 free
trades with this promo code: YWEU0574
I took a good advice and signed up with scottrade.com and got 3 free
trades with this promo code: YWEU0574
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I made a post on Zecco last year when it came out in November I believe. The founder is an ex-Merrill Lynch Vice President and they are a subsidiary of Equinox Trading.