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Zacks Trade is an online brokerage that was founded in 2013. Its headquarters are in Chicago, Illinois. The company provides strong customer support from a team of experienced and licensed brokers, and It’s also very transparent about its pricing—which can’t be said for every company in the industry.
The company’s platform lets both new and experienced traders trade stocks, bonds, ETFs, mutual funds, crypto, and more. You also get access to low margin rates and some outstanding research tools.
Zacks Trade is an investing platform that helps all levels of investors trade a variety of assets. You can trade either at home or on the go, and customer support from experts is only a phone call or email message away.
While many investors get stuck on platforms that don’t give them the control and data they need, Zack’s Trade provides robust and high-level features to help those looking to trade actively. This includes insights, scanners, charts, real-time alerts, and more.
The company also aims to help less confident investors become more educated and knowledgeable about what they’re investing in. Each asset is accompanied by plenty of information and research.
Zacks Trade is best suited for active traders who frequently buy, sell, and trade throughout a given day or week. You’ll have access to several professional-level tools and research resources that can help you make better-informed decisions about your investments. You’ll also have access to more than 20 free research subscriptions (and dozens more premium trials).
You can customize the screen to feature whatever information, technical indicator, or data is most valuable to you. However, there’s also a client portal that gives you a less complex place to make trades and manage your account. This is great for newer investors, or those who want to keep it clear and uncomplicated when making trades.
The Zacks Trade app makes this platform a popular choice for those who want to invest on a phone or tablet while they’re on the go.
Here’s a look at the commission fees for trading stocks, ETFs, options, and mutual funds.
Commission fees | |
Stocks and ETFs (greater than $1 per share) | $0.01 per share ($1 minimum) |
Stocks and ETFs (less than $1 per share) | 1% of the value of the trade ($1 minimum) |
Options | $1 for 1st contract ($0.75 for each additional contract) |
Mutual fund trades | $27.50 per trade |
The fees for trading cryptocurrency are as follows:
Monthly trade value | Commission fee | Minimum per order |
Less than or equal to $100,000 | 0.18% | $1.75, but a maximum of 1% of the value of the trade |
$100,000.01-$1,000,000 | 0.15% | $1.75, but a maximum of 1% of the value of the trade |
Over $1,000,000 | 0.12% | $1.75, but a maximum of 1% of the value of the trade |
Here are the fees for corporate bonds:
Up to $10,000 value | 0.1% of the value (plus $3 per bond) |
Remaining value | 0.025% of the value (plus $3 per bond) |
The fees for investing in government bonds are below:
Up to $1,000,0000 value | 0.025% of the value (plus $3 per bond) |
Remaining value | 0.005% of the value (plus $3 per bond) |
Most accounts with Zacks Trades can participate in margin investing, with the following fees:
Balance | Up to $100,000 | Up to $1,000,000 | Up to $50,000,000 | Over $50,000,000 |
Rate charged | 8.83% | 8.33% | 8.08% | 7.83% |
While there are commissions on all trades on the platform, Zacks Trade offers you plenty of benefits at no extra cost, such as:
Free access to all platforms
Free incoming/outgoing account transfer
A single free withdrawal each month
Free order cancellation
The trading platform’s advanced tools are another highlight. For example, you can use its market scanner tool to screen various investments based on guidelines that you set.
You’ll also be able to rebalance your entire portfolio automatically, based on factors like your goals and risk tolerance. Helpful algorithms will let you use pre-programmed instructions to make trades, and there are also volatility tools for tracking fluctuations in the market or with a specific stock.
Another feature worth mentioning is the sheer amount of research that Zacks Trade provides. You’ll have access to several free resources, and there are dozens more that you can pay for. Some of the research options include industry-leading publications like Morningstar, The Motley Fool, Benzinga, and more.
All of these can help you learn more about various investments and strategies, get expert commentary and insight, and keep up with breaking news and developments in the industry.
Zacks Trade offers users several investment options. You can choose to invest in stocks, ETFs, bonds, options, and mutual funds, as well as cryptocurrencies such as Bitcoin and Ethereum. You can also invest in fractional shares, which allow you to purchase pieces of a stock rather than a full share.
The company offers several account types, such as individual accounts, joint accounts, IRAs, trust accounts, and more.
There’s lots to invest in with Zacks Trade, but I would love to see it add a way to trade without commissions, as many brokerages now allow for commission-free trading.
Zacks Trade has an account minimum/minimum deposit of $2,500 and an account inactivity fee of $15 per month for accounts under $25,000. So if you aren’t going to trade actively, the platform might not be for you.
While the platform provides lots of free research, there are also dozens of paid market research subscriptions available. These will cost anywhere from a few dollars up to over $100 per month. You can view the pricing guide to get a detailed look at what each subscription costs.
To get started with Zacks Trade, click the “Open An Account” button on the website. Next, you’ll need to provide information like your name, email, and phone number.
You’ll also have to confirm the country you live in, as well as choose a username and password. The application will ask what state you’re in and what kind of account you’d like to open. You’ll need to supply other personal information like your date of birth, marriage status, and social security number, too.
The application will also ask about your employment status, employer, and the source of your wealth. In addition, you’ll need to choose a base currency and fill out a survey that goes over your experience when it comes to trading.
After completing the application, you’ll have to wait to hear back from the company about whether or not it has approved your account, or if additional information is required. As part of this process, you’ll also need to verify your email and phone number.
Once your account is activated, you can fund it and begin investing very quickly. Overall, the application process is straightforward, and it won’t take more than a few minutes for most people.
Yes, Zacks Trade has a mobile app available on the Apple App Store and Google Play Store. You can use it to trade on the go, view market data, manage your account and investments, view news related to your portfolio, and more.
It provides a good experience and works well on both phones and tablets. The app is completely free to download and use, and easy to navigate.
Zacks Trade is a safe and trustworthy company to work with. It’s a member of the Securities Investor Protection Corporation (SIPC), which protects your investments up to $500,000 if the firm fails.
The company is also a member of the Financial Industry Regulatory Authority (FINRA). This is an organization that protects investors and ensures the entire market operates fairly and with integrity.
While the Zacks Trade online brokerage isn’t rated by the Better Business Bureau (BBB), the Zacks Investment Research company (of which Zacks Trade is a division) has an A+ rating from the BBB.
The company takes your security seriously and takes numerous steps to protect you. First of all, it requires multi-factor authentication to log into an account, for an extra layer of security and protection from hacking.
It also uses secure sockets layer (SSL) encryption to allow for a secure connection between your computer and its platform/website. Zacks Trade features automatic account timeout to log you out after a period of inactivity.
Zacks Trade also has physical, procedural, and electronic safeguards and measures in place to protect your data. I like how the company privacy policy details how it collects information, where and why it shares it, and the choices/rights that you have when it comes to your information.
Zacks Trade provides customer service either via email at support@zackstrade.com or over the phone (at 312-265-9406 for local customers, or toll-free at 888-979-2257). You can fax the company at 312-265-9547. It offers customer support Monday-Friday, 9am-6pm (ET).
I was able to get connected to a support agent over the phone in seconds, but there’s no promised return time given for email messages.
Zacks Trade is worth considering if you’re an active trader who wants plenty of tools and will take advantage of research resources. You can trade at home or on the go, and it offers helpful customer support from brokers.
I like how the company is open about its fees and how it takes security seriously. While the lack of commission-free trading is not ideal, it’s still a solid choice for investors.
10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606
What is the minimum deposit for Zacks Trade?
The account minimum for Zacks Trade is $2,500. This is relatively high, as some brokerages will let people get started with no minimum deposit. As a result, this may be a barrier to the platform for some beginners.
How much does it cost per month?
There’s no monthly account fee if you’re using your account and making trades frequently. Otherwise, there’s a $15 per month inactivity fee for accounts with less than $25,000.
Is Zacks Trade regulated?
Yes, Zacks Trade is regulated and completely legitimate. It’s a member of both the SIPC and FINRA, and it’s a division of Zacks Investment Research company, which has an A+ rating with the BBB.
