Comments on: Zecco Discount Brokerage Review

By: addictedtocars

addictedtocars — Sun, 13 Mar 2011 20:28:43 +0000

I have been with Zecco for 5 months now and it has been bumpy and now gone bad. They lure you in with a nice web site and free trades, but once you are there it is painful! First the web site would be great if it was not so buggy and slow. They routinely fix one bug to only bring back another. Their first reaction is to tell you to try another browser and be warned their web site performs better with fire fox than anything else, but it still has bugs. They you have the steady declining customer service. Also as of March 2011 the free trades are gone and they raised their rates. Couple that with Penson as their clearing house and you now have a disaster in the making. On numerous occasion Penson has had to retract and repost dividends for various securities in my account, I also caught them on several occasions shorting my dividend by $.01. Sure $.01 is not a big deal to me, but think about how all that skimming ads up. Then in today’s electronics systems how can it take 6 weeks to get out a 1099 then over 2 weeks later (after I already filed my taxes) send me an updated 1099 with different numbers forcing me to for the first time in over 28 years have to file an amended return! All I can say is run as far away from Zecco and in addition any firm that using Penson as their back end.

By: Jurrell Kemp

Jurrell Kemp — Mon, 07 Mar 2011 05:41:33 +0000

Thanks Zecco it is then

By: Ryan

Ryan — Mon, 07 Mar 2011 03:11:44 +0000

Jurrell, it depends on what you are after. E*Trade also offers a full service bank, so if you prefer to have all your money under one roof, E*Trade is a good way to go. Zecco has cheaper trades, though, so if you are a frequent trader, Zecco may save you money. Here is a list of reviews, which may be helpful: discount brokerage firms. Best IRA Brokerages. Best of luck!

By: Jurrell Kemp

Jurrell Kemp — Sun, 06 Mar 2011 11:41:31 +0000

seems interesting would you prefer Zecco or E-trade which one do you believe would be the better choice to handle all of my trades?

By: Ryan

Ryan — Wed, 23 Feb 2011 04:19:33 +0000

Melissa, OHouse is OptionsHouse. You can compare it along with other discount brokers here: Best Online Discount Brokerage Firms.

By: Melissa

Melissa — Wed, 23 Feb 2011 02:28:32 +0000

Brett-
What is OHouse? I did a google search and didn’t come up with anything.

By: Brett

Brett — Tue, 08 Feb 2011 21:24:10 +0000

I recently opened an account at Zecco after reading some positive external Reviews and the 10 free equity trades per month is nice. However, I’ve never experienced worse execution; the platform is a joke…looks like it was programmed you know where. Customer service is more like an HR complaint line than a ‘let’s resolve the issue’ department. The whole brokerage just feels like an MBA project that got a C- but was launched anyways. They erroneously executed a covered call for me at the worse execution I could ever imagine. Now I have to wait 6 weeks to earn $-3 for this trade. I even had a limit order in but they couldn’t handle it.

Let us get one thing straight: The only people who should use Zecco are LONG ONLY investors with less than 10 trades per month. No one else should touch this joke of an organization. I should have steered clear. I’m going to OHouse ASAP.

By: ClubbieTim

ClubbieTim — Sun, 26 Apr 2009 05:10:36 +0000

Zecco is a joke! Its 25k for free trades not 2,500…BTW they’re software is awful…