Consumer reviews and reports on scam companies, bad products and services
Zecco Trading, Inc, Zecco Trade, Thinking about opening a Zecco Account? Don't!!, Internet
5th of Dec, 2011 by User160829
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
Comments
2254 days ago by Davidgid
I was out looking for a class action as well. I have a lot of shares of different penny stocks that i can not sell. I even had 1 penny stock that ran, but I could not sell it because zecco said it had not traded enough in that last 30 days. They were only going to let me trade 30 shares a day. Given the stock was at .002 I would loose money with each trade. More so I can not find a broker that i can move my shares to. The way it works out is i had many $1000 of dollars stolen from me by zecco.

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