Our take on TradeZero
TradeZero is a global stock broker with commission-free trading. TradeZero provides mostly commission-free stock and ETF trading. Account opening is fully online, straightforward and quick. Education materials and customer service are great. It is a good choice for beginner investors. Among some negatives, there's a quite high withdrawal fee. TradeZero offers no credit/debit card option for deposit and withdrawal. In addition, its product portfolio is limited only to stocks, ETFs and options. BrokerChooser gave TradeZero a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.
| Pros | Cons |
|---|---|
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• Real stocks and ETFs are commission-free
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• High withdrawal fee
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• Quick and easy account opening
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• Credit/debit cards not accepted for funding
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• Excellent education and customer support
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• Poor product portfolio.
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TradeZero main highlights
| 🗺️ Country of regulation | Bahamas, United States |
| 💰 Trading fees class | Low |
| 💰 Inactivity fee charged | No |
| 💰 Withdrawal fee amount | $50 |
| 💰 Minimum deposit | $250 |
| 🕖 Time to open an account | 1 day |
| 💳 Deposit with bank card | Not available |
| 👛 With electronic wallet | Not available |
| 💱 Number of base currencies | 1 |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Stock, ETF, Options |
TradeZero summary
TradeZero review
Fees
| Pros | Cons |
|---|---|
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• No inactivity fee
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• Withdrawal fee
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• Free stock and ETF trading
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• No deposit fee
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| Assets | Fee level | Fee terms |
|---|---|---|
| US stock | Low | Commission-free, but orders less than 200 shares have $0.99 flat fee. |
| EURUSD | - | Not available |
| Mutual fund | - | Not available |
| Inactivity fee | Low | No inactivity fee |
How we ranked fees
We ranked TradeZero's fee levels as low, average or high based on how they compare to those of all reviewed brokers.
First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of TradeZero for each asset class. For example, in the case of stock investing the most important fees are commissions.
We also compared TradeZero's fees with those of two similar brokers we selected, Interactive Brokers and tastyworks. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of TradeZero alternatives.
To have a clear overview of TradeZero, let's start with the trading fees.
TradeZero trading fees
TradeZero offers commission-free stock and ETF trading. Its fees are, on the whole, similar to its main competitors.
For orders to be commission free, they must meet the following criteria:
- In case of limit orders, they must not create an immediate match.
- The symbol must trade on the NYSE, AMEX or NASDAQ exchanges and must be greater than $1.
- Orders must be for at least 200 shares.
Paid orders apply to:
- Orders smaller than 200 shares: a $0.99 flat fee is charged.
- All equity securities below $1: $0.005 per share with a $0.99 minimum and a $7.95 maximum charge up to 250,000 shares.
- These conditions apply to all stocks, ETFs and warrants on the NYSE, NASDAQ and AMEX.
Stock fees and ETF fees
TradeZero has generally no commisssion on stocks and ETFs.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| US stock | $0.0 | $1.0 | $0.0 |
| UK stock | $0.0 | $3.4 | - |
| German stock | $0.0 | $3.0 | - |
Options fees
TradeZero options fees are low when it comes to trading stock index options.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| US stock index options | $5.9 | $6.5 | $7.5 |
| UK stock index options | $5.9 | $19.2 | - |
| German stock index options | $5.9 | $16.8 | - |
Non-trading fees
TradeZero has mixed non-trading fees.
There is no inactivity fee - similarly to most competitors - but TradeZero charges a $50 withdrawal fee.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Account fee | No | No | No |
| Inactivity fee | No | No | No |
| Deposit fee | $0 | $0 | $0 |
| Withdrawal fee | $50 | $0 | $0 |
TradeZero review
Account opening
| Pros | Cons |
|---|---|
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• Fast
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None |
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• Fully digital
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• User-friendly
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Can you open an account?
TradeZero accepts clients from around the world. There are some notable exceptions though, e.g. Australian or Chinese customers can't open an account.
What is the minimum deposit at TradeZero?
The required TradeZero minimum deposit is $250. There is no deposit fee for deposits above $500.
Account types
TradeZero offers three account types:
- individual
- joint
- corporate
How to open your account
The account opening process is easy and fully digital. New accounts are usually verified within one business day.
To open an account at TradeZero, just follow these 9 steps:
- Provide information on where you live
- Add information about your citizenship
- Submit your employement status
- Enter your tax data
- Fill in a quiz testing your regulatory knowledge
- Answer questions about your trading experience
- Provide your risk objectives
- Check options account profile
- Sign the contract
To activate your trading account, you will need to identify yourself by sending TradeZero the following:
- Proof of identity: national ID / driver's license
- Proof of residency: recent bank statement, utility bill, lease for property, rental agreement or proof of insurance
Our best alternatives to TradeZero are:
The highest ranking competitors are:
TradeZero review
Deposit and withdrawal
| Pros | Cons |
|---|---|
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• User-friendly
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• Credit/Debit card not available
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• Electronic wallets available
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• High withdrawal fee
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• No deposit fee above $500
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• Only USD deposit available
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Account base currencies
At TradeZero, the only available base currency is USD. This is quite common at similar brokers focusing on US markets.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Number of base currencies | 1 | 23 | 1 |
If you have a personal bank account in a currency other than USD, then you will be charged a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
TradeZero charges no deposit fee if at least $500 is transferred otherwise it is $25. Credit/debit cards are not accepted for depositing, which is a definite disadvantage.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | No | No | No |
| Electronic wallets | No | No | No |
A bank transfer can take several business days, whereas depositing with a credit/debit card would be instant.
You can only deposit money from accounts that are in your name.
TradeZero withdrawal fees and options
The TradeZero withdrawal fee is a fairly steep $50.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | No | No | No |
| Electronic wallets | No | No | No |
| Withdrawal fee | $50 | $0 | $0 |
How long does it take to withdraw money from TradeZero? We tested bank wire withdrawal and it took more than 3 business days.
You can only withdraw money to accounts that are in your name.
How do you withdraw money from TradeZero?
- Log in to your TradeZero account
- Go to 'Wires'
- Click 'Wire Transfer Out'
- Fill the form and click 'Withdraw'
TradeZero review
Web trading platform
| Pros | Cons |
|---|---|
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• User-friendly
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• No two-step (safer) login
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• Clear fee report
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• Good search function
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| Trading platform | Score | Available |
|---|---|---|
| Web | 4.0 stars | Yes |
| Mobile | 4.0 stars | Yes |
| Desktop | 3.8 stars | Yes |
TradeZero has its own-developed web platform, ZeroWeb. It is available in English, Hebrew and Italian.
Look and feel
The TradeZero web trading platform is user-friendly. It is straighforward; there is no need to open up the order panel because it is already embedded on the opening page of the web platform. It offers real-time charting, indicators, top lists, news and more. The ZeroWeb Level 2 window shows market depth and the participants on both the bid and the offer sides for all NYSE, AMEX, NASDAQ and OTCBB stocks. Among negatives, the platform is not customizable.
Login and security
TradeZero provides only one-step login. Two-step authentication would be more secure.
Search functions
The platform's search functions are good.
Placing orders
You can use the following order types:
- Market, Limit
- Stop
- Stop limit
- Conditional
To get a better understanding of these terms, read our overview of order types.
There are also order time limits you can use:
- Good 'til Day (GTD)
- Good 'til canceled (GTC)
- Good 'til crossing (GTX)
Alerts and notifications
You can set price alerts and notifications.
Portfolio and fee reports
TradeZero has clear portfolio and fee reports.
TradeZero review
Mobile trading platform
| Pros | Cons |
|---|---|
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• User-friendly
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• No two-step (safer) login
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• Good search function
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• No Touch/Face ID login
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• Good variety of order types
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TradeZero has its own-developed mobile platform called ZeroMobile. This platform is available only in English.
Look and feel
The TradeZero mobile trading app is user-friendly. It is easy to navigate; everything can be found quickly.
Login and security
TradeZero provides only one-step login. Two-step authentication would be more secure.
You can't log in using biometric authentication. Providing this feature would make the login experience more convenient.
Search functions
The app's search functions are good.
Placing orders
You can use the following order types:
- Market
- Limit
- Stop
- Stop limit
- Conditional
There is one order time limit you can use:
- Good 'til canceled (GTC)
Alerts and notifications
You can set alerts and notifications on the ZeroMobile platform.
TradeZero review
Desktop trading platform
| Pros | Cons |
|---|---|
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• User-friendly
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• No two-step (safer) login
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• Clear fee report
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• Good customizability (for charts, workspace)
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TradeZero has its own-developed desktop platform called ZeroPro. This platform is available only in English.
Look and feel
The ZeroPro desktop trading platform has more features than the web platform and, unlike its web counterpart, it is customizable. The ZeroPro platform includes Level 2 information as well. On the other hand, the desktop platform is not so user-friendly as it is not that easy to navigate.
Login and security
TradeZero provides only one-step login. Two-step authentication would be more secure.
Search functions
The platform's search functions are good. You can search by:
- company name
- symbols
- exchanges
The feature to search by exchanges is not very common at other brokers.
Placing orders
You can use the following order types:
- Market
- Limit
- Stop Market
- Stop limit
- Market Close
- Limit Close
- Range
There are also order time limits you can use:
- Good 'til day (GTD)
- Good 'til canceled (GTC)
- Good 'til crossing (GTX)
Alerts and notifications
You can set alerts and notifications on the desktop trading platform.
Portfolio and fee reports
TradeZero's ZeroPro platform has clear portfolio and fee reports.
TradeZero review
Markets and products
This selection falls behind competing brokers. Both Interactive Brokers and tastyworks offer more product types to trade.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Stocks | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes |
| Forex | No | Yes | No |
| Funds | No | Yes | No |
| Bonds | No | Yes | No |
| Options | Yes | Yes | Yes |
| Futures | No | Yes | Yes |
| CFDs | No | Yes | No |
| Crypto | No | Yes | Yes |
Stocks and ETFs
TradeZero's stock market and ETF selection is fewer to that of its competitors.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Stock markets (#) | 3 | 83 | 4 |
| ETFs (#) | 600 | 13,000 | 2,200 |
Options
TradeZero also offers options. The avaialable option markets are considered average compared to competing brokers.
| TradeZero | Interactive Brokers | tastyworks | |
|---|---|---|---|
| Options markets (#) | 10 | 34 | 8 |
Social trading
TradeZero offers a third-party social trading service called Kinfo. It is a social trading app that tracks your trading performance and lets you view top traders' portfolios. You get a free trading app to track your trading performance using standard trading metrics. Kinfo is also available in a web version.
TradeZero review
Research
| Pros | Cons |
|---|---|
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• Good interactive chart
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• No trading ideas
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• Quality news flow
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• No fundamental data available
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Trading ideas
TradeZero does not provide trading ideas.
Fundamental data
TradeZero does not offer fundamental data.
Charting
TradeZero has good charting tools. You can use 85 technical indicators, which is above the avarage.
News feed
Both the web and desktop platforms offer up-to-date market news and daily market wraps. Some of these items, including blog posts and a basic weekly economic calendar, are also available for viewing on the public TradeZero website.
TradeZero review
Customer service
| Pros | Cons |
|---|---|
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• Phone support
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None |
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• Live chat
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• 24/7 support
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You can contact TradeZero via:
- live chat
- phone
TradeZero live chat responds fast, and we were satisfied with how relevant their answers were.
TradeZero phone support connected quickly, and we got useful answers to our queries.
In email, we likewise received quick and helpful answers.
We also liked 24/7 availability.
TradeZero review
Education
| Pros | Cons |
|---|---|
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• Demo account
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• No educational texts
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• Trading platform tutorial
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• Educational videos
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TradeZero offers excellent education in the following ways:
- Demo account
- Platform tutorial videos
- General educational videos
- Webinars
TradeZero review
Safety
| Pros | Cons |
|---|---|
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• Holds professional indemnity and Excess SIPC Insurance
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• No negative balance protection
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• Does not hold a banking license
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Is TradeZero regulated?
Yes, it is regulated by The Securities Commission of The Bahamas. The US entity is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
TradeZero's entities are based in the USA and Bahamas the company was founded in 2015.
Is TradeZero safe?
To be certain if a brokerage is safe, we highly advise that you check two facts:
- how you are protected if something goes wrong
- what the background of the broker is
How you are protected
| Country of clients | Protection amount | Regulator | Legal entity |
|---|---|---|---|
| United States | $500,000 ($250,000 cash limit) | FINRA, SEC | TradeZero America Inc. |
| Other countries | $250,000 cash | The Securities Commission of The Bahamas | TradeZero International |
US clients are eligible for standard protection by the Securities Investor Protection Corproation (SIPC). For clients of TradeZero International, the company offers protection via Excess SIPC insurance provided by Lloyds of London Syndicates Arch, AXA XL and Kiln. It also holds professional indemnity insurance.
TradeZero does not provide negative balance protection. If the balance on your account goes into negative, you will not be protected. However, we don't think this should be a concern as TradeZero is not a CFD/forex broker.
Background
TradeZero was established in 2015. The longer track record a broker has, the more proof we have that it has successfully weathered previous financial crises.
TradeZero's US regulation and its Excess SIPC insurance in other jurisdictions are all great signs for TradeZero's safety.
TradeZero review
Bottom line
TradeZero is a Bahamian stockbroker founded in 2015, mainly targeting non-US investors who want to trade on US markets.
On the plus side, TradeZero offers commission-free stock and ETF trading. The account opening process is seamless, and TradeZero supports its users with excellent education materials and prompt customer service.
On the down side, TradeZero has a high withdrawal fee, and it doesn't allow funding using credit/debit cards. Among other limitations, only USD is available as an account currency, and the product portfolio consists of stocks, ETFs and options only.
So is TradeZero good? TradeZero is a good choice for those who are interested in investing in US and international equities with low trading fees. As it offers a demo account, don't hesitate to give it a try.
TradeZero review
FAQ
We recommend TradeZero for investors and traders interested in commission-free trading, focusing on US stocks and options.
Below you can find links to all aspects of TradeZero in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our TradeZero fees article.
What about the minimum deposit?
Our ultimate guide to the TradeZero minimum deposit is updated regularly.
How to start your TradeZero account?
Look no further than our evaluation of the TradeZero account opening.
How's their trading app?
Here's our expert view after checking the TradeZero trading app.
Is the quality of customer service satisfactory?
All you need to know about TradeZero customer service.
Legit or scam?
'Is TradeZero legit' features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether TradeZero is really free.
Is this broker good for beginners?
We checked it in Is TradeZero good for beginners.
Should you buy your silver bullets on TradeZero?
Research for silver bugs in the Silver buy on TradeZero guide.
I want to trade options, are they available at TradeZero?
We explored the topic in Can you trade options on TradeZero?
What is the minimum account balance at TradeZero?
Check out the current account balance requirements at TradeZero in our What is the minimum account balance at TradeZero article.
Looking for commission and fees data for TradeZero?
We collected them in TradeZero commissions and fees.
How do you withdraw money from TradeZero?
We tested it and collected the options and costs in How to withdraw money on TradeZero.
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