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.