Annoyed with Zecco

I applied for an account on the 6th of September and I still have not received my pin number to open my trading account. I thought I would share the emails I received from their customer service.

On September 6, 2007 Congratulations, your Zecco Trading account application with reference number ******** is approved.

IMPORTANT NOTE: Occasionally we need to request signed new account application documents and a copy of a government-issued ID prior to activating an account. If this is the case, you will be notified by email. Otherwise, enjoy your trading!

Guess what? I needed to send in the extra information. This was the second email I received.

Thanks for submitting your application ****** to Zecco Trading! Free stock trading is just a few steps away. We were not able to verify all of the information you entered in the application process, so we'll need you to send in some paperwork. Here's what happens next:

1. You'll receive a copy of the Zecco Trading new account application via mail shortly.

2. Check the application and make sure everything is correct. If any of the information is incorrect, just draw a line through the old information and write in the new information and initial and date the change.

3. Sign and date the application.

4. Attach a photocopy of your current, valid government issued ID such (e.g., driver license or US passport). If this is a joint application, you'll need to attach your co-applicant's ID also.

So I mailed in the application and then after a week I emailed the asking when I would be able to buy some stock. Let me say that again I asked when. This is the email I received back.

September 26, 2007 Good Day!

Please send in a copy of your id or driver’s license, social security card and the completed application. You should receive the application in the mail. Once we have all the documents we can process your application

This is part of my reply.

I was told that all I had to send in was a copy of my driver's license and the completed application. I was never told I had to send in a copy of my social security card

I have to wonder if I did not ever email them asking when my account would be ready if I would have ever received notice that I needed to also send them a copy of my social security card. Their reply 2 days later.

September 28, 2007 Thank you for contacting Zecco Trading. We were not able to verify all of you information and will need to have a copy of your social security card before we can finish processing your account. We apologize for any inconvenience.

If you have any further questions, please feel free to contact us again.

So I emailed them back with scanned copies of my social security card. I also mailed them a copy.

September 27, 2007 Thank you for contacting Zecco Trading. We have received the copies of your social security cards. I have forwarded these documents to the correct persons who handle such matters. If you have any additional questions please contact us and we will be happy to further assist you.

Wow, so after 16 business days I still have not had my account opened! I am starting to be weary of this company a brokerage is only as good as its reputation and relationship with their customer.

I think eventually all stock trades will be free or extremely cheap. Once other places do this what will happen to Zecco? Right now the $0 trades are exactly what I need since I am buying small amount of shares. My second choice is Sharebuilder but it costs $5 for each buy so if you were to invest $100 a month, that fee eats up 5% of your investment.