|
|
Review 9/5/2007
|
|
I've been with Zecco for a little over two months now, overall a very good experience. (8/10) I used their phone customer service about five times. The response time is better if you call early in the morning, but is always within 8 minutes. They are pretty good. They usually reply to your e-mail within 1-2 business days. The Limit orders sometimes execute at better than the limit price, and that is great! Free trades are also great! They send you a paper statement (that is free) everyday that you had any transactions, so you might end up with a large paper trail. Their system did screw up once so far by replacing my purchase price for a position in my portfolio, but (as of today) they fixed the problem. Their user interface took a long time to get used to, and their double-log-in(where you have to log-in to an area from which you can log-in to another area where you can conduct trades) and very short session log-out times are a hassle. Also a mere 1% annual interest paid on cash balance in the account.
Pros: ZEro Commision COst, good execution of limit orders, decent customer service with reasonable wait times, Free ACH inbound and outgoing transfers, Free live streaming data.
Cons: User Interface, short session time-out, lack of sophisticated stock screener, lack of integrated advanced research tools. Mere 1% annual interest paid on cash balance in the account. Don't have the stand-alone application (like www.esignal.com, or ScottradeELITE) that would provide the traders with up to the second Graphic User display of the latest trade.
It takes them forever to process paperwork. It should take 2-3 business days tops; but establishing and then funding the account takes about 10 days.
This is where I see the future of online investment firms: cutting-edge research tools with graphic display of the market's current action coupled with free trades and quick paperwork processing.
|
|
|
|
|
|
|
|