Zacks Trade review summary
Zacks Trade is a US discount broker that also allows international clients to open an account. 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 live chat support. 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, CFDs or cryptos. BrokerChooser gave Zacks Trade a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Zacks Trade is a regulated broker, it is overseen by a top-tier financial regulator in the USA . Zacks Trade is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.
Zacks Trade is available in United States
Zacks Trade pros and cons
Pros | Cons |
---|---|
• Low fees | • Complex desktop platform and research tools |
• Extensive stock and ETF selection | • Slow and complicated account opening |
• Great customer service | • No futures and forex |
Zacks Trade main highlights
🗺️ Country of regulation | USA |
💰 Trading fees class | Low |
💰 Inactivity fee charged | Yes |
💰 Withdrawal fee amount | $0 |
💰 Minimum deposit | $0 |
🕖 Time to open an account | >3 days |
💳 Deposit with bank card | Not available |
👛 Depositing with electronic wallet | Not available |
💱 Number of base currencies supported | 20 |
🎮 Demo account provided | Yes |
🛍️ Products offered | Stock, ETF, Fund, Bond, Options, Crypto |
Zacks Trade review
Fees
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.
Pros | Cons |
---|---|
• Low stock and ETF fees / Free stock trading | • High fund fees |
• No withdrawal fee | • Inactivity fee |
Assets | Fee level | Fee terms |
---|---|---|
US stock | Low | $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. |
EURUSD | - | Not available |
Mutual fund | High | $27.50 per transaction |
Inactivity fee | High | $15 per month, but waived for account balances above $25,000 |
How we ranked fees
We ranked Zacks Trade'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 Zacks Trade for each asset class. For example, in the case of stock investing the most important fees are commissions.
We also compared Zacks Trade's fees with those of two similar brokers we selected, TradeStation and Firstrade. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Zacks Trade alternatives.
To have a clear overview of Zacks Trade, let's start with the trading fees.
Zacks Trade trading fees
Zacks Trade has low trading fees. Its fee structure is also transparent and easy to understand.
Stock fees and ETF fees
Zacks Trade has generally low stock and ETF commissions.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
US stock | $1.0 | $0.0 | $0.0 |
UK stock | $13.6 | - | - |
German stock | $11.9 | - | - |
The commissions for trading on different markets are as follows:
Market | Commission | Minimum fee |
---|---|---|
North America | ||
United States | Stocks with share price above $1: $0.01 per share Stocks with share price below $1: 1% of trade value |
$1 |
Canada | Stocks with share price above $1: CAD 0.02 per share Stocks with share price below $1: 1% of trade value |
CAD 4.50 |
Mexico | 0.3% of the trade value | MXN 180 |
Europe | ||
Austria, Belgium, France, Germany, Italy, The Netherlands, Spain |
0.3% of the trade value | €12 |
Norway | 0.1% of the trade value | NOK 150 |
Sweden | 1.0% of the trade value | SEK 100 |
Switzerland | 0.3% of the trade value | CHF 15 |
United Kingdom | 0.3% of the trade value | GBP 12 |
Australia and Asia | ||
Australia | 0.3% of the trade value | AUD 16 |
Hong Kong | 0.3% of the trade value | HKD 120 |
Japan | 0.3% of the trade value | JPY 1,200 |
Singapore | 0.3% of the trade value | SGD 20 |
Russia | 0.05% of the trade value | RUB 95 |
If you prefer stock trading on margin, you should check Zacks Trade's margin rates.
What is the margin rate? Margin rates are charged when you trade on margin. This basically means that you borrow money from your broker to trade, for which you have to pay interest.
Margin rates vary based on the amount and the currency of the borrowed money.
Zacks Trade margin rates are low. The rates below are for loan amounts of less than $100,000 or equivalent.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
USD margin rate | 5.8% | 11.5% | 12.3% |
GBP margin rate | 3.5% | - | - |
EUR margin rate | 3.5% | - | - |
Fund fees
Zacks Trade fund fees are high.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Mutual fund | $27.5 | $15.0 | $0.0 |
Bond fees
Zacks Trade has generally low bond fees.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
US Treasury bond | $5.5 | $20.0 | $0.0 |
EU government bond | $30.3 | - | - |
Options fees
Zacks Trade options fees are average. Keep in mind that at Zacks Trade, you can only trade US options.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
US stock index options | $7.8 | $0.0 | $0.0 |
Crypto fees
Cryptocurrency trading with Paxos on Interactive Brokers’s trading platforms has a low commission of just 0.12%-0.18% of trade value with a $1.75 minimum per order (but the minimum is subject to a cap of 1% of trade value).
Non-trading fees
Zacks Trade has mixed non-trading fees.
Zacks Trade does not charge any account or deposit fees. The first withdrawal each month is also free of charge, while subsequent withdrawals carry a fee.
On the negative side, Zacks Trade charges a $15 inactivity fee every time you fail to make a trade during a month, although this is waived if you have an account balance of at least $25,000.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Account fee | No | No | No |
Inactivity fee | Yes | Yes | No |
Deposit fee | $0 | $0 | $0 |
Withdrawal fee | $0 | $0 | $0 |
Zacks Trade review
Account opening
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.
Pros | Cons |
---|---|
• Fully digital | • Slow |
• No minimum deposit | • Not user-friendly |
Can you open an account?
Zacks Trade is available in many countries around the world. There are some notable exceptions, though, including countries like Australia, Canada, Japan and Hong Kong, where clients can't open an account with Zacks Trade.
What is the minimum deposit at Zacks Trade?
Zacks Trade recommends a minimum deposit of $2,500 for cash accounts, but this is not enforced and you are able to actually fund your account with less.
Be aware, though, that if your account balance is below $2,000, you're not eligible to use some features such as live market data or trading on margin.
Account types
Zacks Trade offers many account types, which fall into two big categories:
- accounts for individual traders and investors
- accounts for institutions
As an individual trader or investor, you can choose from many account types. A few of them, like an IRA account, are available only for US clients.
Account type | Short description |
---|---|
Individual | Account is owned and used by a single individual |
Joint | Account is owned and used by two individuals |
Trust | Account is held by a Trustee (separate legal entity) for your benefit |
IRA | Individual retirement account (only available for US clients) |
UGMA/UTMA | Account for clients who are minors (only available for US clients) |
How to open your account
Zacks Trade's account opening is fully digital but overly complicated. For us, account verification took more than 1 week, which may have been affected by the volatile market environment at the time.
First you have to complete an online registration, which takes roughly an hour. We experienced a few bugs and errors throughout the process, for example, the system froze when we tried to upload our documents.
The 9 steps of Zacks Trade account opening:
- Enter your name, email and phone number.
- Choose an account type.
- Confirm your email address.
- Enter more personal details like your residency, address and phone number.
- Confirm your employment status and income details.
- Choose security questions.
- State your trading/investment goals and experience.
- Upload proof of identification and residency documents (these include copies of a passport, driver's license, residency permit, utility bills or national IDs).
- Agree to disclosure and permission documents.

Our best alternatives to Zacks Trade are:
The highest ranking competitors are:
Zacks Trade review
Deposit and withdrawal
Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
Pros | Cons |
---|---|
• Free withdrawal | • Credit/Debit card not available |
• No deposit fee | |
• Several account base currencies |
Account base currencies
Zacks Trade provides many account base currencies, which is great if you want to trade assets in different currencies.
Australian Dollar | British Pound | Canadian Dollar | Chinese Yuan |
Czech Koruna | Danish Krone | Euro | Hong Kong Dollar |
Hungarian Forint | Israeli Shekel | Japanese Yen | Mexican Peso |
New Zealand Dollar | Norwegian Krone | Polish Zloty | Russian Rouble |
Singapore Dollar | Swedish Krona | Swiss Franc | US Dollar |
Zacks Trade compares favorably to some close competitors in terms of base currencies offered.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Number of base currencies | 20 | 9 | 1 |
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay 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
Zacks Trade charges no deposit fees. However, deposit options are limited for most customers, as neither credit/debit cards nor electronic wallets can be used.
One popular deposit option can be wire transfer, which is available for both international and US customers. Wire transfers usually take one day in the US and up to 5 days for international transfers.
If you reside in the US, though, you have multiple extra options, such as:
- ACH (Automated Clearing House)
- Check
- Online bill payment
- Direct Rollover (IRA accounts only)
- Trustee-to-Trustee (IRA accounts only)
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/debit card | No | No | No |
Electronic wallets | No | No | No |
You can also transfer accounts from your previous broker using the ACAT (Automated Client Account Transfer) service.

Zacks Trade withdrawal fees and options
At Zacks Trade, the first withdrawal each month is free of charge. The fees for subsequent withdrawals depend on the currency and the method you use for withdrawal.
Non-US customers can use only wire transfers, while US clients can also use checks or ACH transfer in addition to wire transfers.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/debit card | No | No | No |
Electronic wallets | No | No | No |
Withdrawal fee | $0 | $0 | $0 |
ACH and check withdrawal cost $1 and $4, respectively, while the fee for wire withdrawals depends on the currency, as shown in the table below.
Withdrawal currency | Fee |
---|---|
USD | 10 |
EUR | 8 |
GBP | 7 |
CAD | 12 |
CNH | 60 |
HKD | 95 |
NZD, SGD, AUD | 15 |
CHF | 11 |
CZK | 300 |
DKK | 30 |
HUF | 6,000 |
ILS | 30 |
JPY | 1,600 |
NOK, SEK | 50 |
MXN | 100 |
PLN | 40 |
RUB | 330 |
ZAR | 200 |
How long does it take to withdraw money from Zacks Trade? We tested bank transfer withdrawal and it took 2 business days. You can only withdraw money to accounts that are in your name.
How do you withdraw money from Zacks Trade?
- First, log in to the Client Portal, then click 'Transfer & Pay' and 'Transfer funds'.
- Select the account you want to use for the transaction.
- At the top of the page, click the 'Withdraw Funds' tab.
- Select the currency of your withdrawal, then the withdrawal method.
- Fill in the required information.
- Submit your withdrawal request.
- You can see the status of your request in 'View Transaction History'.
Zacks Trade review
Web trading platform
The Zacks Trade web platform is simple and easy to use, even for beginners.
Pros | Cons |
---|---|
• User-friendly | None |
• Clear fee report | |
• Two-step (safer) login |
Trading platform | Score | Available |
---|---|---|
Web | 3.8 stars | Yes |
Mobile | 3.5 stars | Yes |
Desktop | 3.8 stars | Yes |
Zacks Trade offers two options for web trading: the Client Portal and Zacks Trader. In this review, we tested the Client Portal since it is more user-friendly and easier to use than Zacks Trader.
The Client Portal is available in multiple languages: Dutch, English, French, German, Italian, Japanese, Russian, Simplified Chinese, Slovakian, Spanish and Traditional Chinese.
Look and feel
The Client Portal platform is particularly user-friendly and intuitive. It is easy to find every feature even if you just started trading.
However, from time to time, we encountered some annoying technical glitches. For example, if you have a large number of positions, the portal may have problems displaying them in sorted order (e.g. from A to Z) while you are scrolling.

Login and security
Zacks Trade provides a safe two-step login. You can use several options for two-step authentication:
- You can use two-step authentication through SMS messaging.
- You can activate two-step authentication through Zacks Trade's mobile trading app, the Handy Trader.
Search functions
The search function is easy to use.
All you have to do is type in the preferred asset's name, and you will see a list of exchanges and products. The search bar can be found in the upper right corner of the screen.

Placing orders
The Client Portal offers many order types. If you prefer more sophisticated orders, you should use the Zacks Trade Pro desktop platform. Available order types on the web platform are:
- Limit
- Market
- Stop
- Stop Limit
- Limit-on-Close
- Market-on-Close
- Trailing Stop
- Trailing Stop Limit
To get a better understanding of these terms, read this overview of order types.
There are also order time limits you can use:
- Day
- Good-til-Canceled (GTC)
- Immediate or Cancel
- Market-on-Open
- Limit-on-Open

Alerts and notifications
You can set price alerts using the bell icon.
Portfolio and fee reports
Zacks Trade's portfolio and fee reports are transparent. The 'Portfolio' tab gives a clear overview of your performance, including a historical profit/loss balance and the fees you paid.
Zacks Trade review
Mobile trading platform
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.
Pros | Cons |
---|---|
• Two-step (safer) login | • User interface is a bit complex |
• Good search function | |
• Good variety of order types |
You can use Zacks Trade's mobile trading platform, called Handy Trader, on both iOS and Android devices. In this review, we tested the iOS version of the mobile app.
The number of available languages is almost the same as those available on the Client Portal, the only difference is that Slovakian is not supported.
Look and feel
The mobile trading app is handier compared with the web platform. Even so, its overall look and user-friendliness lag behind the mobile platforms of some competitors.

Login and security
You can use a two-step login, which is safer than a simple login. Furthermore, if your device has a fingerprint sensor, you can also use biometric authentication for added convenience.
Search functions
The search function works well, just like on the web trading platform. You can access the search button easily from any menu.
When you type in the product you are looking for, the app lists every asset type as shown in the picture below.

After you select the product are you interested in, you will be greeted by an information and trading window, which shows:
- Asset market information
- An interactive chart with technical indicators
- Related news
- Some fundamental data
- Summary of the latest analyst report
- The Buy and Sell buttons, which take you to the order panel.
Placing orders
The Handy Trader app has the same order types as the Client Portal, Zacks Trade's web trading platform.

Alerts
You can set price alerts using the bell icon.
Special feature – Chatbot
A chatbot called IBot is provided by Interactive Brokers (IB). You can use the chatbot to execute or close an order, or to get basic info quickly.

The chatbot understands basic commands, such as “Apple price” or “buy 1 Apple share”. On top of this, you can also search for company fundamentals, like dividend yields or P/E ratios. Some other functions, like displaying a chart, are also available via the chatbot.

Zacks Trade review
Desktop trading platform
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.
Pros | Cons |
---|---|
• Clear fee report | • Not user-friendly |
• Good customizability (for charts, workspace) | • Complexity might be overwhelming |
• Good variety of order types |
Zacks Trade's desktop trading platform Zacks Trade Pro is provided by International Brokers. It is so advanced that even a separate review would not be able to cover all of its features.
The system offers literally every feature you can think of, from attaching a delta hedge order to an options order to creating charts for synthetic securities.
There are many trading algos to choose from. One favorite, the ScaleTrader originates from the notion of averaging down or buying into a weak, declining market at ever lower prices as it bottoms - or on the opposite side, selling into a rising market or scaling out of a long position.
Look and feel
This platform is very complex. It is ideal for you if you consider yourself a professional user. If you are a beginner or someone who seeks long-term investments, you may have difficulty navigating all of Zacks Trade Pro's features.
Keep in mind, however, that all the advanced features are optional. If you don't use them, you can easily use it just to place orders, even if you are an everyday investor.
Despite its complexity, the platform is highly customizable; for example, you can set up and save your own templates and create your own watchlists.

Login and security
Similarly to the web and mobile trading platforms, Zacks Trade Pro provides two-step authentication. This makes the platform safer to use.
Search functions
The search function is great; better than those provided by Zacks Trade's other platforms.

Placing orders
Zacks Trade Pro provides a lot of order types:
Limit | Mid Price | Market | Market-to-Limit |
Stop | Stop-Limit | Trail | Trail-Limit |
Relative | Retail Price Improvement | Snap Market | Snap to Midpoint |
Snap to Primary | Market-on-Close | Limit-on-Close | IBALGO |
Hedge (with Forex, or Pair Stock) |
Its order term options also include some special types beyond the usual ones:
- Good-'til-Canceled (GTC)
- Good-'til-Date (GTD)
- Market-on-Open (MOO)
- Limit-on-Open (LOO)
- Immediate-or-Cancel (IOC)
- Fill-or-Kill (FOK)
- Day-'til-canceled (DTC)
If you are not familiar with basic order types, read this overview.

Alerts and notifications
Alerts and notifications can be set in the 'Configuration panel'. You can select email, SMS or mobile pop-up notifications.
You can also set additional alerts, such as for price changes, daily profits/losses, executed trades, etc.
Portfolio and fee reports
Portfolio and fee reports on Zacks Trade Pro are very transparent, just like on the web platform.
Zacks Trade review
Markets and products
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.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Stocks | Yes | Yes | Yes |
ETFs | Yes | Yes | Yes |
Forex | No | No | No |
Funds | Yes | Yes | Yes |
Bonds | Yes | Yes | Yes |
Options | Yes | Yes | Yes |
Futures | No | Yes | No |
CFDs | No | No | No |
Crypto | Yes | Yes | Yes |
Zacks Trade covers the same asset classes as most of its US competitors. Within its product range, Zacks Trade has an outstanding selection of stocks, ETFs and options, while its mutual fund and bond offering is average.
Stocks and ETFs
Zacks Trade provides access to a significant number of global stock exchanges. This includes major stock markets like the NASDAQ, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), as well as smaller ones such as the Mexican Stock Exchange. Other than regular stocks, penny stocks are also available.
Besides stocks, you can also choose from many ETFs to trade. Zacks Trade has an extensive ETF selection compared with its competitors.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Stock markets (#) | 78 | 5 | 5 |
ETFs (#) | 13,000 | 2,300 | 2,300 |
Zacks Trade provides access to exchanges in the following countries:
North America | Europe | Asia-Pacific | |
---|---|---|---|
United States | Austria | Norway | Australia |
Canada | Belgium | Spain | Hong Kong |
Mexico | France | Sweden | Japan |
Germany | Switzerland | Singapore | |
Italy | United Kingdom | ||
Netherlands | Russia |
Funds
Zacks Trade offers a large number of mutual funds from the US but does not include international providers in its selection.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Fund providers (#) | 260 | 55 | 450 |
Bonds
Zacks Trade's bond selection covers US and European government and corporate bonds. Compared with most rival brokers, this offer is good but not outstanding.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Bonds (#) | 60,000 | 630 | 38,500 |
Options
Zacks Trade provides options from US options markets.
Zacks Trade | TradeStation | Firstrade | |
---|---|---|---|
Options markets (#) | 16 | 10 | 5 |
Zacks Trade review
Research
Zacks Trade offers nearly limitless research possibilities, but the user interface is complicated, hard to navigate and not very well designed.
Pros | Cons |
---|---|
• Good interactive chart | • Not user-friendly |
• Trading ideas | |
• Data on asset fundamentals |
The quality of research tools available at Zacks Trade is good, and you can also choose from the services of various third-party providers.
Trading ideas
Zacks Trade offers access to trading recommendations provided by third parties. These research tools are mostly free, but there are some you have to pay for.
Several prominent news sources, like Thomson Reuters, Morningstar, The Motley Fool, Dow Jones and Zacks affiliate company Zacks Investment Research, are available to browse for free.
You can access all these third-party sources in ZacksTrade Pro, the desktop platform, under the drop-down 'Analytical Tools' menu, by selecting 'Analyst Research'.

Fundamental data
Zacks Trade provides a broad selection of fundamental data on all of its platforms. These include income statements for the past six years, a dividend calendar and a list of peer group companies, among others.

Charting
Zacks Trade has nearly unlimited charting capabilities. You can use 120 technical indicators. However, the charting tool itself takes considerable time and effort to master. The features are not user-friendly, so we recommend first checking out some educational material to understand its capabilities.

Other special technical tools include:
- Stock/ETF benchmarker: helps you compare your stocks or portfolio to a selected benchmark
- Mutual fund and ETF replicator
- Volatility lab
- Option probability lab: a group of option analysis functions
- VaR, Sharpe: portfolio performance analyzers
News feed
You have access to:
- News
- Daily summaries
- Multiple economic calendars
Zacks Trade also offers integrated third-party news and recommendations in its desktop platform.
Upon entering the platform, you can read daily market summaries via 'Daily Lineup'. This feature helps you stay on top of the latest news and analyst recommendations.
Earnings and economic calendars are also helpful shortcuts to start off your day. The Economic Calendar lists upcoming events that may have a market impact. The feature can be accessed separately at any time from the menu, though the design could be better.
Zacks Trade review
Customer service
Zacks Trade customer service is generally prompt and helpful. However, we missed 24-hour support, which would be a great help for international customers.
Pros | Cons |
---|---|
• Phone support | • No 24/7 support |
• Live chat | |
• Fast response time |
You can contact Zacks Trade via:
- live chat
- phone
Zacks Trade has a very fast live chat. The answers we received were useful and relevant, and we were also provided links to more detailed information. However, you can only contact Zacks Trade live via the chatbox during Eastern Standard Time working hours in the United States. Outside of these hours, your best bet is to contact Zacks Trade via email. Email support itself is fine; we received quality responses to our queries within a day o two.
Phone support is provided only through US local and toll-free numbers. This means that Zacks Trade clients calling from outside the US will be charged at international rates. Similarly to live chat, we missed 24/7 availability here, an important issue for clients seeking help from overseas.

Zacks Trade review
Education
Zacks Trade offers a demo account, along with videos on how to use its platforms. However, we missed general educational materials on trading and investing topics.
Pros | Cons |
---|---|
• Demo account | • No educational videos |
• Trading platform tutorial | • No webinars |
At Zacks Trade, you can learn in the following ways:
- Demo account
- Platform tutorial videos
To use the free demo account, go to 'Platforms' and then select Zacks Trading Pro. At the bottom of the page, there's a registration box titled 'Start Paper Trading', where you can create a demo account.
On the down side, we felt that the site was missing basic information on trading and investing that would be useful for beginners. This confirmed our overall impression that Zacks Trade is geared more towards experienced traders.

Zacks Trade review
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.
Pros | Cons |
---|---|
• Majority of clients belong to a top-tier financial authority | • No negative balance protection |
• High level of investor protection | • Does not hold a banking license |
• Not listed on stock exchange |
Is Zacks Trade regulated?
Zacks Trade is a division of LBMZ Securities, which is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Clearing and execution services for LBMZ Securities are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.
Is Zacks Trade 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
All accounts at Zacks Trade are served by a US-regulated legal entity. This matters because you are covered by the US investor protection scheme, provided by the Securities Investor Protection Corporation (SIPC).
SIPC investor protection protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. A non-US citizen with Zacks Trade is treated by the SIPC the same as a US resident in case something goes wrong. The protection amount is substantially higher than what is covered by most European investor protection schemes.
On the other hand, Zacks Trade does not provide negative balance protection. If the balance on your account goes into negative, you will not be protected.
Background
Zacks Trade is a division of LBMZ Securities, which was established in 1978. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
Being in operation for a long time, offering high investor protection and being regulated by top-tier authorities are all great signs for Zacks Trade's safety.
Zacks Trade review
Bottom line
Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA. It is an introducing broker of Interactive Brokers, and as such shares many of its features.
On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.
There are some drawbacks though, as its desktop trading platform and research tools may be too complex for some. The account opening is complicated and slow. Unlike Interactive Brokers, Zacks doesn't support trading CFDs, futures or forex.
As Zacks Trade provides a demo account and there's no mandatory minimum deposit, feel free to try it.
Zacks Trade review
FAQ
We recommend Zacks Trade for traders and investors looking for comprehensive research tools, a wide product selection and low fees.
Below you can find links to all aspects of Zacks Trade in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our Zacks Trade fees article.
What about the minimum deposit?
Our ultimate guide to the Zacks Trade minimum deposit is updated regularly.
How to start your Zacks Trade account?
Look no further than our evaluation of the Zacks Trade account opening.
How's their trading app?
Here's our expert view after checking the Zacks Trade trading app.
Is the quality of customer service satisfactory?
All you need to know about the Zacks Trade customer service.
Legit or scam?
Is Zacks Trade 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 Zacks Trade is really free.
Is this broker good for beginners?
We checked it in Is Zacks Trade good for beginners.
Should you buy your silver bullets on Zacks Trade?
Research for silver bugs in the Silver buy on Zacks Trade guide
I want to trade options, are they available at Zacks Trade?
We explored the topic in Can you trade options on Zacks Trade?
What is the minimum account balance at Zacks Trade?
Check out the current account balance requirements at Zacks Trade in our What is the minimum account balance at Zacks Trade article.
Looking for commission and fees data for Zacks Trade?
We collected them in Zacks Trade commission and fees.
How do you withdraw money from Zacks Trade?
We tested it and collected the options and costs in How to withdraw money on Zacks Trade.