AUDIT YOUR ZECCO ACCOUNT!
09-15-2008, 06:52 AM
#1
Registered User
Thread Starter
AUDIT YOUR ZECCO ACCOUNT!
Heads-up guys: I audited my Zecco account this weekend and found that $550+ is missing from my cash balance. I downloaded the transactions to Quicken, checked my paper print outs, triple-checked everything and the numbers do not add up.
I do not see any transaction where the $550 was taken out-- it is simply not shown in my cash balance.
I did see some strange transactions in Quicken which I also asked for an explanation, but these zeroed out, namely:
3/31/2008 +$0.25
3/31/2008 -$0.25
8/6/2008 -$907.89
8/6/2008 +$907.89
8/26/2008 -$907.83
8/26/2008 +$907.83
I highly recommend you audit your Zecco accounts. Once this is fixed, if they do find that somehow they "lost" several hundred dollars of my money, I'll be withdrawing all of my cash and with each sale, closing out my account.
Screw this-- I'm going back to Scottrade. $7 a trade, but at least their shit works.
I do not see any transaction where the $550 was taken out-- it is simply not shown in my cash balance.
I did see some strange transactions in Quicken which I also asked for an explanation, but these zeroed out, namely:
3/31/2008 +$0.25
3/31/2008 -$0.25
8/6/2008 -$907.89
8/6/2008 +$907.89
8/26/2008 -$907.83
8/26/2008 +$907.83
I highly recommend you audit your Zecco accounts. Once this is fixed, if they do find that somehow they "lost" several hundred dollars of my money, I'll be withdrawing all of my cash and with each sale, closing out my account.
Screw this-- I'm going back to Scottrade. $7 a trade, but at least their shit works.
09-15-2008, 03:01 PM
#3
Registered User
Join Date: Feb 2005
Posts: 3,409
Likes: 0
Received 0 Likes
on
0 Posts
No problems with my account. You do have to calculate your expenses yourself [it's not clear like it should be] and things like dividends [like if you are borrowing the stock and owe them to someone else] are also not clearly shown.
Never hurts to audit your account. Let us know how it all works out. Demand some interest or something too.
Never hurts to audit your account. Let us know how it all works out. Demand some interest or something too.
09-16-2008, 06:52 AM
#6
Administrator
Interactive brokers FTW.
I don't see why you guys screw around with those retail brokers. I pay less than $2/trade for both stocks and options 9last trade was $1.20) and the trade executes AND SETTLES immediately right before my eyes and I always get the best price.
I can trade on over 40 exchanges worldwide in any currency and I get the inter-bank exchange rate on foreign currency.
I get real-time quotes, level 1, level 2 and open book for the same price the exchanges charge, no markup, and I can get streaming quotes for over 30 markets, stocks, options, bonds, futures.
I can trade stocks, options, bonds, futures and forex. I can do straight buy and sell or use combo orders, spreads, straddles, the works AS A SINGLE TRADE.
I pay only for the streaming quotes from the exchanges I choose and if I spend $30 in commissions I don't even pay that. I get charts, historical and realtime, news tickers and company research data, live and in real time.
I get COMPLETE and detailed statements EVERY DAY by email and I can download the data to Money or Quicken or some of the other more sophisticated trader accounting systems.
Why you guys clown around with retail online brokers I just can't figure out.
Go there http://www.interactivebrokers.com and download the demo trading platform and try it yourself. Watch their free online webinars and screen casts and training videos of how to use the platform and trade various equities.
Do it.
I don't see why you guys screw around with those retail brokers. I pay less than $2/trade for both stocks and options 9last trade was $1.20) and the trade executes AND SETTLES immediately right before my eyes and I always get the best price.
I can trade on over 40 exchanges worldwide in any currency and I get the inter-bank exchange rate on foreign currency.
I get real-time quotes, level 1, level 2 and open book for the same price the exchanges charge, no markup, and I can get streaming quotes for over 30 markets, stocks, options, bonds, futures.
I can trade stocks, options, bonds, futures and forex. I can do straight buy and sell or use combo orders, spreads, straddles, the works AS A SINGLE TRADE.
I pay only for the streaming quotes from the exchanges I choose and if I spend $30 in commissions I don't even pay that. I get charts, historical and realtime, news tickers and company research data, live and in real time.
I get COMPLETE and detailed statements EVERY DAY by email and I can download the data to Money or Quicken or some of the other more sophisticated trader accounting systems.
Why you guys clown around with retail online brokers I just can't figure out.
Go there http://www.interactivebrokers.com and download the demo trading platform and try it yourself. Watch their free online webinars and screen casts and training videos of how to use the platform and trade various equities.
Do it.
09-16-2008, 06:57 AM
#7
Administrator
Originally Posted by cthree,Sep 16 2008, 10:52 AM
Interactive brokers FTW.
I don't see why you guys screw around with those retail brokers. I pay less than $2/trade for both stocks and options 9last trade was $1.20) and the trade executes AND SETTLES immediately right before my eyes and I always get the best price.
I can trade on over 40 exchanges worldwide in any currency and I get the inter-bank exchange rate on foreign currency.
I get real-time quotes, level 1, level 2 and open book for the same price the exchanges charge, no markup, and I can get streaming quotes for over 30 markets, stocks, options, bonds, futures.
I can trade stocks, options, bonds, futures and forex. I can do straight buy and sell or use combo orders, spreads, straddles, the works AS A SINGLE TRADE.
I pay only for the streaming quotes from the exchanges I choose and if I spend $30 in commissions I don't even pay that. I get charts, historical and realtime, news tickers and company research data, live and in real time.
I get COMPLETE and detailed statements EVERY DAY by email and I can download the data to Money or Quicken or some of the other more sophisticated trader accounting systems.
Why you guys clown around with retail online brokers I just can't figure out.
Go there http://www.interactivebrokers.com and download the demo trading platform and try it yourself. Watch their free online webinars and screen casts and training videos of how to use the platform and trade various equities.
Do it.
I don't see why you guys screw around with those retail brokers. I pay less than $2/trade for both stocks and options 9last trade was $1.20) and the trade executes AND SETTLES immediately right before my eyes and I always get the best price.
I can trade on over 40 exchanges worldwide in any currency and I get the inter-bank exchange rate on foreign currency.
I get real-time quotes, level 1, level 2 and open book for the same price the exchanges charge, no markup, and I can get streaming quotes for over 30 markets, stocks, options, bonds, futures.
I can trade stocks, options, bonds, futures and forex. I can do straight buy and sell or use combo orders, spreads, straddles, the works AS A SINGLE TRADE.
I pay only for the streaming quotes from the exchanges I choose and if I spend $30 in commissions I don't even pay that. I get charts, historical and realtime, news tickers and company research data, live and in real time.
I get COMPLETE and detailed statements EVERY DAY by email and I can download the data to Money or Quicken or some of the other more sophisticated trader accounting systems.
Why you guys clown around with retail online brokers I just can't figure out.
Go there http://www.interactivebrokers.com and download the demo trading platform and try it yourself. Watch their free online webinars and screen casts and training videos of how to use the platform and trade various equities.
Do it.
Trending Topics
09-16-2008, 07:27 AM
#9
Administrator
Originally Posted by Penforhire,Sep 16 2008, 11:25 AM
I picked Scottrade mostly because I live a short distance from TWO local offices.
09-16-2008, 09:48 AM
#10
Registered User
Every investor I know personally (face time, not like here) has had significant brokerage issues. In each case these were more difficult to clear up by telephone, mail, or e-mail than in person.
Have I had a serious issue yet? No. But it was part of my logic.
As was that $7 is a fair price to trade ($27 for pinks, IIRC) and their reviews (mostly Barrons and other magazines) were positive, including transaction times. I wasn't planning to day-trade. I would NOT recommend Scottrade for any sort of day trader. I haven't tried their non-web platform yet (I qualify for it now) but the little-guy tools are bare bones.
Have I had a serious issue yet? No. But it was part of my logic.
As was that $7 is a fair price to trade ($27 for pinks, IIRC) and their reviews (mostly Barrons and other magazines) were positive, including transaction times. I wasn't planning to day-trade. I would NOT recommend Scottrade for any sort of day trader. I haven't tried their non-web platform yet (I qualify for it now) but the little-guy tools are bare bones.