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| stockmarkettips |
 Posted: Fri Dec 01, 2006 5:29 am Post subject: |
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Investing Manager
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| I really wonder how long Zecco can stay in business with ad revenue like that. But, I hope it works out for them and it drives the others to lower their costs... |
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| mathwizard |
| Posted: Fri Dec 01, 2006 8:47 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
7.86 e$
Net worth: 44,523.46
Portfolio Value: 44,515.60
Monthly Return: -1.81%
Trades this month: 0
Churn Rate: 0.00%Items
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| zerolikedis wrote: | any update yet Mathwiz??
i am going to open the zecco account pretty soon |
I opened the account and it was approved within 2 days, and then I set up the ACH to my bank accounts. You know the two small deposits thing. It was painless so far. I had to mail out signature and a photocopy of driver license though. I funded the account and I am ready to roll. I have to pick a stock, but I haven't decided which one. Myabe I'll just buy one share of some ETF and sell it just to see how the transaction goes.... I'll update later. |
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| SwashBuckler |
| Posted: Tue Dec 05, 2006 11:15 am Post subject: |
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Investing Sr. Associate
Joined: 13 Aug 2006
Posts: 88
This Month: 0
38314.69 e$
Net worth: 38,314.69
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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| They don't offer trailing stops, not sure if they allow trading penny stocks and if there is a limit to the number of shares you can trade. Also they do not have real-time streaming quotes. I think you have to pay for that or they don't offer it at all. |
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| zerolikedis |
| Posted: Tue Jan 09, 2007 5:15 am Post subject: |
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Investing Manager
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ive been using zecco for two weeks. at first it would not let me use limit orders. i thought it was because i didnt fund my account with the full 2500 amount . well i put a market order for 3 shares of IMH at around 2pm one day and it didnt execute till the next morning until it hit the high and started to decline (pissed it didnt go the same day). after that first order went through i was able to use limits on the other orders.
other than that i have nothing bad to say about them. it is what it is.
i guess i will start to put more money with them.
(the money market sweep they offer pays a good rate)
btw i have my roth with scottrade so i stream with them. |
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| esquire415 |
| Posted: Mon Dec 17, 2007 3:16 pm Post subject: |
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Investing Manager
Joined: 02 Jun 2006
Posts: 318
This Month: 0
116344.93 e$
Net worth: 116,344.93
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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It's interesting that nobody here mentioned about Zecco's new "non-introductory offer" which was introduced October 1.
Zecco trades are no longer free if you have an account less than $2500. Anything less than that will cost you $4.50/trade. The net equity in your account should not go below $2500 or you will be charged a fee. Also they have drastically reduced the number of free trades from 10/day to 10/month! Any trades above the 10 allowed will be charged $4.50 (up from $3.50).
Many were furious about this new offer because this was not what they signed up for. Zecco also claimed that the original offer was "not an introductory offer". It was a classic bait and switch. Zecco planned this all along. They knew they cannot sustain the business model but in order to lure people to join the bandwagon they have to sell something that people will not be able to resist...."no minimum, no commission fees" and when they had built this customer base with this promo, they switch the offer with something inferior. Also they will charge you a $50 ACAT out fee if you want to leave Zecco.
Obviously there was a heavy push to sign up as many customers as possible when they brought down the minimum to $0 to open an account with them last September before they announced the stupid new offer on October. |
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