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Zacks Trade Review 2024

Written by
Gyula L.
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
6,213 people chose this broker
Available in United States

Why choose Zacks Trade

Zacks Trade is a US discount broker that also allows international clients to open an account. It is an introducing broker to Interactive Brokers, so some of its services are very similar or even the same.

Zacks Trade has low fees, including low stock/ETF fees and no inactivity fee. Its stock and ETF selection is outstanding, covering many international markets. We also liked the speed and professionalism of customer support, especially on live chat.

On the negative side, the desktop trading platform and research tools are complex and not suitable for beginners. During our testing, account verification was slow and the online registration process itself is cumbersome. Lastly, we note that Zacks doesn't offer futures, forex or CFDs.

BrokerChooser gave Zacks Trade a 4.3/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low fees
  • Extensive stock and ETF selection
  • Great customer service

Explore the key metrics of Zacks Trade

Overall score
4.3/5
Minimum deposit
$0
Stock fee
Low
Options fee
Low
Inactivity fee
yes
Account opening
>3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Zacks Trade

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 3.7/5
Zacks Trade has generally low trading fees; its stock, ETF and bond trading fees are especially low. However, mutual fund fees are quite high, and there's also an inactivity fee.
  • Low stock and ETF fees
  • No withdrawal fee

We compared Zacks Trade's fees with two similar brokers we selected, TradeStation and Firstrade. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Zacks Trade alternatives.

Low stock and ETF commission

Zacks Trade US stock fees are less than half of the industry average. US stock fees are calculated as follows: $0.01 per share commission for stocks priced above $1, or 1% of trade value for stocks priced below $1. The minimum fee is $1.

Broker
US stock
Zacks Trade
$1.0
TradeStation
$5.0
Firstrade
$0.0
Zacks Trade stock and ETF commission

Average margin rates

Zacks Trade USD margin rate fees are slightly lower than the industry average. USD margin rate fees are calculated as follows: Interest on Margin Loans: IB rate + 3%

Broker
USD margin rate
Zacks Trade
9.8%
TradeStation
13.5%
Firstrade
13.8%
Zacks Trade annual margin rates

Low options commission

Zacks Trade US stock index options fees are lower than the industry average. US stock index options fees are calculated as follows: $1 for first contract + $0.75 for each additional contract

Broker
US stock index options
Zacks Trade
$7.8
TradeStation
$11.0
Firstrade
$0.0
Zacks Trade stock index options commission

High inactivity fee, no withdrawal fee

It does not charge any account or deposit fees, but only one withdrawal a month is free and there is an inactivity fee.

Broker
Inactivity fee
Withdrawal fee
Zacks Trade
$0
TradeStation
$35
Firstrade
$0
Zacks Trade inactivity, withdrawal and other fees

Zacks Trade charges a $15 inactivity fee every time you go a month without making a trade, although this is waived if you have an account balance of at least $25,000.

The first withdrawal each month is free of charge, while subsequent withdrawals carry a fee.

Other commissions and fees

High mutual fund commission: trading mutual funds involves the following charges - $27.50 per transaction.

Low spot crypto fees: at Zacks Trade, crypto trading costs 0.12% to 0.18% of trade value with a USD 1.75 minimum per order (but the minimum is subject to a cap of 1% of trade value).

Low bond commission: US treasury bonds come with the following charges - Up to $1 million face value: 0.025% * face value + $3 per bond. Remaining face value: 0.005% * face value + $3 per bond.

Broker
Mutual fund
US micro e-mini stock index futures
Zacks Trade
$27.5
-
TradeStation
$15.0
$5.0
Firstrade
$0.0
-
Misc. fees compared with other brokers

Safety

Zacks Trade is regulated by top-tier financial authorities and offers a high level of investor protection, but is not listed on a stock exchange and does not hold a banking license.
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
Read more

Deposit and withdrawal

Score: 3.3/5
Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use bank cards or electronic wallets to deposit or withdraw funds.
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Read more

Account opening

Score: 2.5/5
Zacks Trade offers fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 3.5/5
The Zacks Trade mobile trading platform, called Handy Trader, has a lot of functions and a useful chatbot, but its user interface could be better.
  • Two-step (safer) login
  • Good search function
  • Good variety of order types
Read more

Desktop platform

Score: 3.8/5
The Zacks Trade Pro desktop platform has many customizable options and advanced functions. As such, the platform is more suited for advanced traders rather than beginners.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 3.7/5
Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker, along with US funds and options. However, you can't trade futures or forex.
Read more
“I recommend Zacks Trade for traders and investors looking for comprehensive research tools, a wide product selection and low fees.”

FAQ

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Author of this review

Gyula Lencsés, CFA
Gyula Lencsés, CFA

Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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