Zecco Trading

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Category: Business & Finances

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United States

Zecco Trading Reviews

acoustoman July 1, 2009

Poor service

This is the worst stock brokerage firm I have ever used. Their customer service is the worst I have ever experienced. First they offered me free trading and then switched to fee based trades. I stuck with them anyway as they were still cheaper. Well cheap is not a good way to go. I had set up an ACH account which they cancelled after a few weeks. When I called and told them my ACH was no longer active, they accused me of deleting it. I had no way of moving money to or from my account. (At least not without a hassle) I complained for days with no resolution. Finally I filed a formal complaint with FINRA. I then got a nasty letter telling me that I was to liquidate my account immediately as they no longer wanted me as a customer. They then cut off my ability to purchase any more stocks. I refused to liquidate my portfolio and transferred them to another broker. They then charged me $50.00 for doing so. Good ridance! They are a total joke.

Bob February 17, 2009

Terrible on-line stick broker

Zecco Trading has so far been my worst experience ever, though I haven’t dealt with many online brokers. I was lured by the concept unlimited of free trades in the past (the $30.00 yearly maintenance Fee wasn’t an issue) & decided to try it with a small IRA account as a test, about $5, 000. Shortly after the unlimited of free trades turned into 10 free trades a month which would still work for me, though it did cost me some commissions. With the latest change of $25, 000 minimum requirement I decided this wasn’t for me so I transferred the account to an existing account in TDAmeritrade which just arrived today with a $81.00 debit (Zecco’s cost for transferring funds & closing the account). I don’t usually believe that you get what you pay for, but in this example it has been a very costly test with no upside. I would recommend exercising caution on using this low rated broker.