#1
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Zecco
Anyone have experience with Zecco?
Any "catches" to be aware of? How does it pay to other online trading sites? |
#2
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Re: Zecco
I don't have any personal experience but I've seen a lot of complaints about them on another message board. Just stuff along the lines of it taking forever to set up an account and they can't get customer service on the line.
Scottrade is my budget broker with $7 trades. Their website is often sluggish but after about 4 years with them I haven't had any major problems and customer service has been solid. |
#3
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Re: Zecco
There customer service sucks but then again it is free.
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#4
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Re: Zecco
I set up an account and got it funded in about a week and had no problem getting customer service on the line when my trade for pygmf didn't go through. I called them up, asked why my trade didn't go through. They said since it was was a pink sheet I had to place the order over the phone and they'd charge a $20 commission. I said screw it and put half of my minimum deposit in the Russell 1000 index ETF and the other half in the iShares emerging markets ETF.
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#5
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Re: Zecco
I use them. Never needed CS (yet).
Trade are fast and seemed to be efficient since they go through Penson to complete orders to my understanding. In a smallish account the no fee makes a pretty big difference. In my case it saved me about 1% on my portfolio this year. It is nicely suited to those folks who trade infrequently and aare impacted by transaction costs. I liked it enough to transfer an IRA into them. |
#6
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Re: Zecco
I agree that their CS is very lacking. I called on Monday morning and left a message. I have yet to hear back in either in e-mail or phone call form. Their site isn't bad, but it isn't great either. A couple of times I've had issues trying to find what I was looking for.
It also took a while to set up my account. I'm unsure how much of that was my fault though. For some reason I didn't print out the application when I should have (maybe it was clear, maybe it wasn't). That was my first experience with CS and it took a few days to get a hold of them. They said they would e-mail me a copy of the application. The next day I still had not received the form so I called them and they mailed the form to me. I had to fill it out and fax it. Even once I did that, they didn't open my account until I physically sent them the papers. All in all it took 2-3 weeks before I was able to make my first trade. |
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