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Author Topic: Question regarding Zecco  (Read 2633 times)

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January 12, 2009, 11:41:33 AM
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Kymerik


Good morning everyone. I have a question regarding Zecco. 

When i used to buy/sell with sharebuilder, the buy/sell order would be executed within 1-5 minutes of me submitting it and the price would be during the day when i execute the transaction. (pricey)

Since joining this board i switched to Zecco to try to save some money on trades.  However I have learned of an interesting and bothersome trend.  I place an order before the market opens expecting the transaction to occur when the market opens.  However, i come to find the transaction doesnt take place until the beginning of the NEXT trading day. Same goes for intraday transactions.  Say I place an order to buy 1000 shares of XXXX and it's at 1.00 when i place the order, but it closes at 1.20, i check the transaction details and it says the transaction executed at the price of 1.00 but the next day when i log into my account i see that the transaction executed at 1.20.  Same goes for selling.  I'm still learning this whole trading thing and dont invest alot of money because of this, but with transactions not clearing until the end of the day or the beginning of the next day, it makes it hard to do intraday trading to sell at a high and buy at a low.

Any explination to why it is like this would be greatly appreciated.

January 12, 2009, 12:00:37 PM
Reply #1

Dzielak51

Guest
Wow, that is not right at all.  I used Zecco a couple times and dint have that problem. I would definitely call some one there.

Are you placing Market orders or Limit orders?

January 12, 2009, 12:35:21 PM
Reply #2
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Dr PennyStock

Administrator
Looks like you are placing extended hours orders, they are independent of the normal orders and only enter the market in extended hours trading. 
Dr PennyStock

January 12, 2009, 01:11:39 PM
Reply #3
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Kymerik


Wow, that is not right at all.  I used Zecco a couple times and dint have that problem. I would definitely call some one there.

Are you placing Market orders or Limit orders?
I place market orders.

I have tried calling, left a message last week regarding a different issue and havent got called back, and have sent several emails requesting information regarding funding/transfers etc over the past month or so, without response. :(

January 12, 2009, 01:15:14 PM
Reply #4

Dzielak51

Guest
Try placing limit orders.  I dont know about Zecco, but you are not allowed to place market orders with Pennystocks

January 12, 2009, 01:22:17 PM
Reply #5
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Kymerik


IIRC Limit orders wont execute unless the market has the stock at that price correct?

But that would explain alot if market orders arent available on penny stocks which i wasn't aware of

January 12, 2009, 01:24:19 PM
Reply #6

Dzielak51

Guest
Yes, when you place a limit order, it does not execute until the price of the stock Hits the price you put it in for.

January 12, 2009, 01:36:10 PM
Reply #7
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Kymerik


alright thanks for the help and insight, it's greatly appreciated