Almost a month long of system glitches (with the merger)
Long story short - wait 6 months before you move your money in here from the date of this review.
Zecco recently switched clearing houses away from Penson and merged with Tradeking recently. Problems *could* be expected from these activities but ongoing and affecting trading hours are unacceptable. Here's what's happened over in the past few months.
1) account erroneously flagged as margin including bogus margin calls (they disappeared). Cash transactions were marked as margin, and $0 dollar transactions added. Some accounts also restricted from trading
2) Cash balances wiped out entirely from above screwup. Account issues took around 2 weeks to resolve. A temporary balance was at least credited once for trading activity in the case of account balance being wiped out during conversion to margin account but then...
3) website is completely down today.
Zecco does NOT offer compensated broker assisted trades while their system is clearly at fault so you are paying for their mistakes.
When the system does work, trades execute reasonably and it isn't hard to get a hold of customer service. However I would wait till the dust settles and regret having anything to do with them right now. They should definitely not be a primary trading account. I've been a client for less than 6 months and things were reasonable enough for me to up my deposit but cavaet emptor for the remainder of the year I would say until they've proven themselves competent again
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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