Zecco Review + Feedback & Discussion

Posted by Lawguy (8 years ago)

Worst of the worst

Horrible experience. BEWARE that this is a sleazy unethical company. Aside from the incompetence this firm is malicious.

They have intentionally sabotaged one of my attempts to transfer my account, and are attempting to do so again. First time they provided the transferee broker with a statement that I had naked positions which was completely fabricated. Now they are refusing to transfer a single holding to the new broker for a week. SEC has been notified.

Other than this intentional malfeasance, Zecco is incompetent. Their orders execute slowly and poorly. The have broken up my orders before and charged double commissions. For the duration of my trading with them, they would cut me off from modifying my orders after 2-4 attempts on SOME stocks, at which point I was not able to even cancel them. My account was shifted into "margin" status without my consent. And of course they executed cancelled orders, only to sell those equities automatically after the equities have taken a loss, and not compensating me for such loss.

(I don't have an order number sorry. I'm in Dallas TX)

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143270

Posted by Bad Zecco (1 decade ago)

Zecco was great when I first joined ...til I had a problem, I trade Pinksheet/OTC at the bottom price of .0001 and you can make money if you get the right stock. Customer service and email is no good, they tell you anything to close the ticket but you do not get an answer. their MM is NITE and Nite is more into making money for themselves than for zecco customer when it comes to these bottom stocks. I have even complained to Mike, the president and all he did was pass the buck...guess he does not have time for the customer. Now I have been trying to sell my position at market just to get what I can so I can get out but Zecco can not even do that. The old saying(you get what you pay for ) comes to mind here. Customer service is not good at all the MM is only care about their side and the service stinks. My advise find another broker Like Noble Trading where it does cost more but you can pick you MM on their desktop platform.

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Posted by will (1 decade ago)

I've been trading with zecco for a couple years now and have had a good experience. Customer service has been helpful, trading is good, and free trades are great. If you can live with not having customer service outside normal business hours, I highly recommend them.

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Posted by bnor (1 decade ago)

I have tried 3 times to get a Transfer on Death form from Zecco (a standard type of account designation) and have been unable. This is poor customer service and a warning sign. I will stick with Scottrade.

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Posted by MWyatt (1 decade ago)

With their new pricing plan they refuse to refund the fees to close and transfer an IRA and customers are without ability to deposit funds to reach the $25000 minimum if they are in an IRA situation. Customer service is not service oriented at all. I am pursuing complaints with the SEC and asking online news companies to reports on Zecco's business practices. Don't use them, there are better alternatives.

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Posted by grass prairie (1 decade ago)

Zecco STILL will not release my funds. It has been over 6 weeks. They won't reply except to say I have to open an account elsewhere so they can deposit directly. Bull. Send me a check. DO NOT RECOMMEND. It's looking like they're thieves.

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Posted by Milton (1 decade ago)

I also do not recommend Zecco. It is simply a bad company, which after March 1st, 2009, will have no upside. They are increasing the minimum balance for their free trades to $25,000. There is no reason to go with them - if you're out, stay out. Go with ShareBuilder or TD. Also, customer service reps are incredibly uninformed and trading platform is horrible. The worst on the net. They should go out of business.

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Posted by grass prairie (1 decade ago)

EXTREMELY UNHAPPY. WARNING TO ALL POTENTIAL CUSTOMERS: Zecco refuses to return my personal funds as of 12-19-08. I have contacted them four times and get only canned emails. I deposited the funds in the summer before the financial crisis made it ridiculous to trade. Decided to take the money out so I owe them nothing. Had to file complaint w/ the CA AG and SEC last night. I do not recommend Zecco. Even before this, customer service was terrible; now it's worse. I hate to give them even one star.

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