Saturday, May 26, 2007

Zecco - Turning Heads and Looking Brighter

Almost immediately after my last post regarding Zecco, and my email to their customer service department, I received a call from CEO Stephen Oliviera. I was obviously surprised, but welcomed the call. We quickly chatted about the road ahead, and what it would take to get my account on that road... Basically it boiled down to "we're working on it" and "these things take time." For a new company with a big idea, I was willing to accept.

Not long after my paperwork got cleared up, I placed my first trade. Not exactly a monumental occasion, but hey, it was was free. The irony is that I quickly bought an ETF for the day and the market closed just under the previous day. Overall my free trade resulted in a net loss of $0.46. Not bad when you consider that included the commission. Perhaps the idea of an easy out will ease the pain some skittish traders face when eying a loss?

So far this has been my "toy" account, but it's getting better. I'm also seeing closer partnerships between Zecco and Motley Fool, which is always good. Keep an eye out for my next post regarding options trading with Zecco.

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