- Report: #805602
Complaint Review: Zecco Trading Inc - Internet
Reported By:
Zecco Account Holder -
Tulsa, Oklahoma, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Zecco Trading Inc
Internet, United States of America
Phone:
Web:
www.zecco.com
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Zecco Trading, Inc, Zecco Trade, Thinking about opening a Zecco Account? Don't!!, Internet
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I am a current Zecco Trading account holder. I have been using Zecco for awhile. I signed up for Zecco to open an account to buy and sell subpenny stocks. I was fine and happy with everything for a while. I'm not talking about trading just a couple of hundred dollars. My account had a couple of thousand. Thus, with subpenny stocks you can imagine I held millions of subpenny stocks from many different companies.
Enters the reason I would stay away from Zecco Trading. If you Google Zecco Trading you will find many stories about all thier "fees" and "surprise fees." Zecco Trading mid year introduced a new fees for stocks traded on the pinksheets (subpenny stocks) of up to $700 fee per order. So, now that I hold $100 of a certain stock (1,000,000 shares) I can no longer trade it on Zecco Trading without risking a fee of up to $700 for a $100 order. Make any sense?
So, now me and so many other thousands of Zecco stock traders have to hold our stocks or risk Zecco $700 fee. As you can imagine most are holding...but these stocks may end up just going away...anyway (common market for subpenny) but it's not at our discretion. It's take loss of all the subpenny stocks we hold or pay Zecco up $700 per order that they put through to process the sale of your subpenny stocks. And for an order to sell a 1,000,000 share may occur over 4 to 7 orders.
Stay away from Zecco Trading. Use Sharebuilder or Etrade or some other company. I am just waiting for someone to hopefully begin a successful class action law suit against Zecco Trading.
Thank you
Enters the reason I would stay away from Zecco Trading. If you Google Zecco Trading you will find many stories about all thier "fees" and "surprise fees." Zecco Trading mid year introduced a new fees for stocks traded on the pinksheets (subpenny stocks) of up to $700 fee per order. So, now that I hold $100 of a certain stock (1,000,000 shares) I can no longer trade it on Zecco Trading without risking a fee of up to $700 for a $100 order. Make any sense?
So, now me and so many other thousands of Zecco stock traders have to hold our stocks or risk Zecco $700 fee. As you can imagine most are holding...but these stocks may end up just going away...anyway (common market for subpenny) but it's not at our discretion. It's take loss of all the subpenny stocks we hold or pay Zecco up $700 per order that they put through to process the sale of your subpenny stocks. And for an order to sell a 1,000,000 share may occur over 4 to 7 orders.
Stay away from Zecco Trading. Use Sharebuilder or Etrade or some other company. I am just waiting for someone to hopefully begin a successful class action law suit against Zecco Trading.
Thank you
