Anybody else using Zecco have orders rejected for no reason?
 

Just wondering - several times now I have had orders rejected for very liquid securities when I have had ample cash balance. I have e-mailed Zecco but their customer service is more worthless than Party Poker and I never thought I would say that.

My balance screen looks like this:

http://img502.imageshack.us/img502/6...t232147jp1.gif

Might it have something to do with intra-day buying power being only $120.09? But why would that be? I sold my other stock Friday morning...those clear near instantly right? What is going on here?

P.S. Don't h8 cuz I'm balla [img]/images/graemlins/wink.gif[/img]

Re: Anybody else using Zecco have orders rejected for no reason?
 

I use Zecco too and I've never had any problems with it. Intra-day buying power is the problem though. For some reason your sale hasn't posted to your buying power yet. I would try calling them instead of e-mail. It's listed somewhere on their website. They were pretty helpful when I had funding problems during my account setup.

Re: Anybody else using Zecco have orders rejected for no reason?
 

I would call them. Their phone service is very good. That said, Zecco has a LOT of glitches in their software. It wouldnt suprise me that this was one of them.

Re: Anybody else using Zecco have orders rejected for no reason?
 

If you don't have a margin account, you have to wait for your sale to settle which is T+3 for equities. If you do have a margin account, then call them.

Re: Anybody else using Zecco have orders rejected for no reason?
 

Agree. Looks like OP doesn't have a margin account.

Re: Anybody else using Zecco have orders rejected for no reason?
 

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If you don't have a margin account, you have to wait for your sale to settle which is T+3 for equities. If you do have a margin account, then call them.

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[img]/images/graemlins/cool.gif[/img]

Re: Anybody else using Zecco have orders rejected for no reason?
 

[ QUOTE ]
Agree. Looks like OP doesn't have a margin account.

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I do have a margin account, at least I think so...gonna have to find that # and call...I looked for it before but couldn't find it. And I've already made several trades (without waiting 3 days) where my buying power posted pretty quickly.

Re: Anybody else using Zecco have orders rejected for no reason?
 

[ QUOTE ]
[ QUOTE ]
Agree. Looks like OP doesn't have a margin account.

[/ QUOTE ]

I do have a margin account, at least I think so...gonna have to find that # and call...I looked for it before but couldn't find it. And I've already made several trades (without waiting 3 days) where my buying power posted pretty quickly.

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OK, the problem is it's an IRA account, which isn't allowed to have margin.

However, it seems like with my old online broker there was no 3-day waiting period for sell orders to settle. Do other online brokers have some other means of allowing you to turn around and trade more quickly? The customer service representative mentioned something about other brokerages forwarding the cash to your account immediately or something...?

Re: Anybody else using Zecco have orders rejected for no reason?
 

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However, it seems like with my old online broker there was no 3-day waiting period for sell orders to settle. Do other online brokers have some other means of allowing you to turn around and trade more quickly?

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Government securities and options are T+1, all stock equity sales are T+3. Been this way for a very long time. Currency trades have a feature called "tomorrow next" but this is generally for traders who want an overnight position but have no desire to take deivery of the currency itself.


Jimbo