ZeccoPulse - Latest Comments

Re: US Currency: Red Note, Green Note – What’s the Difference?

Poisson Volant — Sat, 05 Jan 2013 20:09:28 -0000

"Until the mid 1960s, United States Notes were convertible into silver."

Unless I'm very mistaken US Notes were never backed with any precious metals, so they weren't directly convertible. Of course, if you had a $5 USN you could always exchange it at a bank for a $5 silver certificate which -was- directly convertible so it's a bit of a moot point, haha!

In any case, once silver certificates were discontinued there was no real reason for the US to continue producing two parallel forms of fiat currency. US Notes were only a small part of total production so they were discontinued to save money on printing and distribution.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Wayne Johnson — Thu, 08 Nov 2012 11:35:25 -0000

I'm not happy with the new " fee for everything" policy.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Lou Dobbs — Mon, 22 Oct 2012 21:49:09 -0000

OMG...I thought I was the only one that noticed this! I woke up one day and my stocks were frozen..10 grand gone in thin air over night...I called in and asked an CR what just happen...he told me that i just lost my investment..and this happens often! He told me that the company closed it's doors and I couldn't sell the stock so my investment went with it...on the flip side I'm on MarketWatch at the same time...watching the volume and price move on this stock! It took me three calls into CR to find that the company was not closed but went thru a name change..but only Zecco was reporting this name change...on marketwatch and my other brokage account trading was as usual...I became terrifed and requested that she sell all my shares...lost $3000 dollars on this strew up...called in talke to a supervisor and all they offered were 4 free trades! I'm one more fuck up from pulling my money out Zecco. Mark my words!

Re: Doubling Up: Zecco and TradeKing Are Merging!

marlo123 — Wed, 22 Aug 2012 14:04:50 -0000

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Re: Doubling Up: Zecco and TradeKing Are Merging!

Spazg8r — Mon, 13 Aug 2012 16:30:23 -0000

Neither of the CEO's addressed (let alone acknowledged) the concern expressed and now we're told Penson will handle wire transfers in place of CHASE? They can't get the tax paperwork right...why in god's name would they handle the money transfers?

It's going to take more than a name change to fix the problems Penson has. I'd really love to hear one of the 2 honcho's tell us what the thought process was on this decision. It really boggles the mind.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Sd Garrison — Mon, 13 Aug 2012 01:30:53 -0000

I like the Z-King thought like seeking profits, mmmm. It keeps the history and the new, but I think they bought the name TradeKing and will go to that it seems reading between the lines. The clearing firm sucks, from my trades in the last three months, one major problem, 2 minor. NOT GOOD. But they like it, so what we think does not seem to matter, nor their track record. Maybe they are waiting for a Knight kind of mistake.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Sd Garrison — Mon, 13 Aug 2012 01:25:54 -0000

Only the BIG FISH, not the little minnows. And Zecco should allow you to get out when things change as the agreement is broken, of when you entered into trading. So if trades to up, etc. should be given chance to get outwithout a fee or to pay for the transfer or cash out.

Few answers here, as it seems to match customer service reports here. I cannot believe you do not know what the new company is. A merger is very intricate but is spelled out pretty well typically. Answers is better than tap dancing.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Sd Garrison — Mon, 13 Aug 2012 01:20:24 -0000

I have to disagree on amount, but having to switch back and forth for information you want, like xdates from one to another to see your watch lists, etc. Need more access with a click rather than opening something else. Like I really like the snapshot page but it is not the same everywhere on the site. One page has more info, please try to open this up more to personalizing.

Also on the Streamer, why arent the small boxes able to fit on the line with the big boxes, but half the size so two can fit there, instead of having a small box line. I love the snapshot streamer, but it does not show how many shares I have. Again part of info here part there.

Re: Need Help with Becoming a Better Options Trader? Come to Options Boot Camp!

Pjameslamar — Sat, 04 Aug 2012 22:50:30 -0000

hey there, i have a question of sorts i would love to have addressed. Let me pose it in example form....i work a job from like 7am till 4pm. I trade primarily options. I would like very much to have the ability at Zecco to be able to enter a complete, simple options trade all at once and all contingent on the underlying. For example i like the SPY. Little to no spread on the bid and ask, and a lot of volume. I would like to be able to place a contingent or conditional order for when the market opens, that if the SPY reaches $140 an order is triggered to buy 10, august $140 put contracts with a market order. Also on that order i would like it that if that happens and the SPY continues to rise to like $140.50 my 10 contracts would be sold at the market....Or.....if the SPY drops to like $138.50 my 10 contracts would be sold at the market for a profit.
At the present we have the ability to use a contingent order to get into a trade like this but not the ability to have both a profit and a stop both contingent on the underlying. After i am in the position i can place a contingent for either the stop or the profit target but not both. I can place a bracket order on the option but not contingent on the underlying. I can do a OCO but not contingent on the underlying.
If this ability was available and one traded with a 1/3 risk - reward ration this would be a good safe strategy and working stiffs trying like me trying to trade could do so with confidence and as stress free as is possible. I would at least have some control over what my loss would be and i would be ok with that.
If this ability was available one could place and manage multiple trades and positions much easier as well. My ultimate question is how can we make this happen for Zecco traders. I imagine there is not much call for order types like this but that does not mean it would not be a good way to trade simple options. Also if other traders have not asked for this type ordering perhaps they simply have not thought about it. Besides options, being able to have the ability to set and forget stock trades as well would be beneficial to traders. I mean it would take away a lot of the emotion that is involved with trading. Even with simple stock trades one has to manually enter the bracket order to sell even if they use the contingent order to get into a position.
The current single condition, contingent order that one could use to get into a trade leaves a trader like myself vulnerable to the market until such time as i could enter the bracket or OCO to get me out of the trade. Also there is no "emergency exit" button to get me out of a trade.
Entering a position without the ability to simultaneously cover our exits is dangerous and i think at Zecco we should be able to cover our backs when we enter a trade.
Any one have any pros or cons on this?
thanks

Re: Doubling Up: Zecco and TradeKing Are Merging!

Zecco — Wed, 01 Aug 2012 20:41:21 -0000

Thanks for your comment Daniel. Please take a look at this reply from our friends over at TradeKing:

Thank you for selecting Zecco as your broker and we are happy to have you as a customer. We are excited for our customers, as this is a great win for everyone. We have not made a final decision regarding foreign accounts, however, as a growing firm we realize the importance of offering this service, and we want to do what is right for the customers and right for us. While I can't give you specific information regarding the foreign account policy going forward I will try to guide you by saying don't start looking for another broker at this point. It's much too early for us to comment either way.If you want to speak specifically about your account, please contact the TradeKing service team and ask for Dave Dusseault who is the VP of Service. He will be happy to speak with you and share more information.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Daniel Jozsef — Wed, 01 Aug 2012 16:48:06 -0000

Dear Zecco and Tradeking staff,

Congratulations on the merger. However, I have a question that I did not get an answer for so far. I am a new client, and I live overseas.
I chose you because you were one of the only brokerages with such low fees to offer service to non-US residents, and your merger FAQ severely disappoints, reassuring US-resident foreigners, but them and only them.
So much so that I am thinking whether I should wire the funds, or just start looking for another broker.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Arun Prasad — Thu, 26 Jul 2012 15:32:24 -0000

It's hard to believe that a company such as yours has customer service agents who are so arrogant , unresponsive and clueless. They seem to think customers have no rights, opinions ,etc. They are argumentative , give answers that make no sense and GOD help you if you ask to speak to a supervisor or anyone else. You get put on hold , only for the agent to come back and say , there is no reason for another person to get involved. Even if you get a supervisor they its like they just hand off the phone after being briefed by their "friend" on how stupid the customer is and then get an attitude. My question was in regards to selling TOMZ ....the last price was at 0.15... there was a pop up that said there would be some fees for DTC sale of low priced securities. I have 4000 shares of TOMZ and wanted to know what that means to me if I sell. At current price the current my current value for TOMZ would be $600.00. Christian, one of your managers tells me that I would possibly face of a fee from $2.00 to $700.00 if I sold it. IN disbelief I said, how could I pay more to sell it than it's worth. He again told me , that's all he can tell me , the fee from 2 to 700. I asked him to narrow it down or asked in anohter way , can someone find out a more accurate answer and advise me. NO. What was the last fee charged, his answer, I have not seen one in a long time so I don't know. I told him over 400 trades I'd made the total cumulative fee was less than 25.00. I told him I had traded many low priced stocks and still same answer. I was sooooo frustrated by his aloofness. AND YOU RECORD CALLS and say this is CUSTOMER SERVICE. The best answer one of your supervisors, managers , whatever they want to call themselves that day....possible $700 fee to sell something worth $600. Finally I just called him an idiot at which point he said have a nice day. If he let me talk to someone else I might not have called him an idiot, but it doesnt help when agents think they know it all. I"m the customer, remember. Do I have any rights , can I ever speak to another individual ?

Re: Doubling Up: Zecco and TradeKing Are Merging!

Richdpet2003 — Wed, 25 Jul 2012 09:19:45 -0000

I like the merger idea but still waiting for the web sites to merge so I can look at both accounts same time:)

Re: Doubling Up: Zecco and TradeKing Are Merging!

Jerry Premo — Mon, 16 Jul 2012 23:37:08 -0000

I would like to see the website react more quilkly when loaded. The merger sounds interesting, lets hope it workds out well of we investors.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Guest — Fri, 15 Jun 2012 12:43:44 -0000

No wonder my option trade has been blocked all day.

Re: Doubling Up: Zecco and TradeKing Are Merging!

loyalcustomer — Fri, 15 Jun 2012 11:38:24 -0000

Mike, Penson is being bought by Peak6. Peak6 owns OptionsHouse. Can we reasonably expect Penson's already lousy service to get any better for us when they are owned by a competitor? Don't know about anyone else here but absent some real cutting edge stuff from the combined entity (such as legit social investing and facilitated collaboration) and not just more of the same stuff, might be time to look elsewhere.... Please make/keep this a unique business!

Re: Doubling Up: Zecco and TradeKing Are Merging!

Srfozdar — Sat, 09 Jun 2012 19:01:39 -0000

Will the merge help customers get a 3rd Party Equity Research Reports?
i.e. S&P 500, Reuters Research Report etc...

Re: Doubling Up: Zecco and TradeKing Are Merging!

guest — Sat, 02 Jun 2012 21:01:10 -0000

The people are liken tradekingZ.com!

Re: Doubling Up: Zecco and TradeKing Are Merging!

Jeremy — Fri, 01 Jun 2012 21:14:40 -0000

Agree. Penson made my gains into a horrible tax experience. I love Zecco, but Penson seems to be run poorly.

Re: Doubling Up: Zecco and TradeKing Are Merging!

Joe — Fri, 01 Jun 2012 18:47:34 -0000

Any update on the new name?

Re: Doubling Up: Zecco and TradeKing Are Merging!

Guest — Thu, 31 May 2012 22:28:08 -0000

Hey look, Penson's parent company formed another company called Apex that will acquire Penson. Somewhere, AT&T must be laughing pretty hard. It's like Penson read this ceoblog or something?!

Re: Doubling Up: Zecco and TradeKing Are Merging!

Therealestson — Thu, 31 May 2012 16:39:15 -0000

That's right, I usually file my taxes in February, the latest is March...I hate to wait till the last week or so to file taxes. This is the second time in a row, tax documents aren't in on time and an amended one follows after filing. This issue needs to be corrected or not only the customers are going to leave but the IRS are going to step in big time for irregularities. I have been with Zecco for 3 years for a reason so get it right

Re: Doubling Up: Zecco and TradeKing Are Merging!

Moreiraalf — Thu, 31 May 2012 09:56:37 -0000

What would be you policy on non resident aliens or non resident citizens opening accounts? As far as I can tell Zecco caters to non residents while Tradeking does not

Re: Doubling Up: Zecco and TradeKing Are Merging!

Pay Thos (Pathos) — Wed, 30 May 2012 13:30:45 -0000

Please!!!

KICK PENSON OUT!!!

BECOME SELF CLEARING!!!

This will make Zecco a TRUE competitor in the market!!!!

Re: Doubling Up: Zecco and TradeKing Are Merging!

Guest — Fri, 25 May 2012 17:12:11 -0000

Zecco no longer does pop-ups, it's too complicated for them.
The few that are there were snuck in by ninjas ( ninji? ).