I didn’t hear of any exceptional April Fools’ Day jokes this year, but this one caught my eye. Many customers of Zecco Trading logged into their brokerage account yesterday to be greeted with a slightly higher buying power than before… on the order of 6 to 13 million dollars! Thanks to reader Nick for the tip to check my balance. Here is a user-supplied screenshot:
Well, that’s one way to qualify for the Zecco free trades! People on the forums speculated whether this was a April Fools’ Day joke, or a system glitch. They joked about making a big ACH transfer and quitting their jobs.
However, one brave/foolish person posted that he actually put in an order to buy a million dollars worth of shares with their newly found money, and the order was executed! The bad news? The shares were quickly sold later by Zecco… at a market price loss. On top of that, they were charged the $19.99 commission for a broker-assisted trade. Doh! If it was indeed an April Fools’ joke, it definitely wasn’t implemented very well…
Read more about Zecco April Fools' Day: Million Dollar Account Balances…
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