Zecco is a SCAM

[RyGuy]

It's funny they say they have reviewed my interactions. LOL I completed an ACAT transfer and I made 1 trade in that week. LOL

10/22/11 We have reviewed your interactions with our firm and concluded that Fidelity cannot provide the level of service you require. Service will be discontinued and the account(s) will be considered closed. Your account will be limited to withdrawing any securities positions or cash balances that may exist.

[RyGuy]

That is what I'm saying.............. I yelled a Fidelity a number of times today WTF!!!!!!

[hdsstocks]

WTF?

[RyGuy]

I left Zecco and did an ACAT transfer of all my ZECCO assets to Fidelity. I was there 1 week, then I get a notice on Saturday, that Fidelity is closing my account.

They said "we feel another broker dealer would better service my needs" and are giving me until November 4th to find a new broker.

[gail]

no, why, is that some..

..

rumor going around? i have had no probs with fidelity.

[hdsstocks]

What happened

[RyGuy]

Gail, did you get a notice of Fidelity closing your account?

[Yosako]

I think Scotty only clears options thru Penson or so, self-clearing for stocks.

[spiritthing]

I agree with all you say. I made a mistake when I took them on. The worst is, I have another Penson dealer (Scottrade). I am kind of in a bad place.
I am looking so forward to Baron to get up and running. I will be moving my fund there when they get ready. I hope I make the first amount that they let in! I know they said there would be so many applying that they would not be able to handle them all at one time, that they would have to do it in waves.
Thanks for the response though. I kind of thought that but had to confirm. That is why I Put the Zecco name in there.

Spirit

[gail]

just passing on the word that others can do that too. just dont use anyone that uses penson. i like fidelity the best.

[MaxPowerLove$Ihub]

I'm glad you are able to move to another broker...GLTU Gail!

[gail]

i took it all and went to..

..

fidelity.. only a one time 50 buck fee on zecco's end to get out.

finra and the sec didnt care, they told me to work it out with zecco. so, that didnt help. i just got out and now im happy.

[Yosako]

Seems like I got caught in a worst case scenario:

- My stock $GPGD has IMPROPERLY been labeled NON-DTC eligible by Zecco RIGHT AFTER I bought my load of shares (it's actually DTC-eligible as confirmed by Scottrade, I also browsed the DTCC website documents and there was no DTC-chill or whatever for $GPGD).
- I am an international customer (Fidelity only applies to US customers) so I can't TXfer my shares there.
- Zecco has blocked me from placing online sales for $GPGD...with a merger coming soon.
- Due to language issues I cannot use the phone, only chat/email/messaging.

If they don't fix this issue asap I'll have to go the FINRA/SEC complaint route.

[MrMojoRisin]

Good deal thanks.

[MaxPowerLove$Ihub]

I heard only fidelity would accept transfer of penny stocks...the rest, like Scottrade, etrade, etc. wouldn't. GLTU

[MrMojoRisin]

I need to transfer my acct from them do you know a good broker that will trade these chilled stocks I have?

[sevenOdouble]

Yeah I like the moniker Baron, in Baron Capital... and we are the Dukes of Cash... hehehe

[Mango]

Hey, I'm going to use them too! Baron Capital ..... a self clearing broker. No Penson BS


NICE!

[sevenOdouble]

I am going to use Baron Capital as broker soon, have you guys heard of this new broker yet?

[MaxPowerLove$Ihub]

Zecco is the mother of all scams...always blame on Penson, its dirty crook clearing house...LOL!

[MaxPowerLove$Ihub]

F Zecco...I'm going to sue the $h*T out of them...and Penson...they caught me many opportunities to make big $...and charged me $1,000 just for four different transactions...ZECCO is a dog...and the owner is Penson and the DTCC crap...

[Mango]

Your wish is granted

[paisa_factory]

yes it does scam... i have this experience with couple of times..
I am gonna change my broker.. Now i can not buy tofs cause its illiquid BS..
Last time same thing happened to me with other security zecco restricted me to buy and to sell i will have call them..
I dont understand why should i call them to sell my stock.. its frustrating.. Next thing happened the same stock went 200% up from there.
I am holding to my shares in tofs ...

[~MulaGreen~]

DUMPED this ZeHITTYCO!!!I urge every account Holder to do it today!!!

[~MulaGreen~]

Yes!!!ZHIITTYCOO is Scamming their Own Clients!!!

[Senorita Roachita]

FIRST! ASST mod app in!