Zacks Trade Logo
Written by: Gyula L. Updated: Dec 2022
Expert verified
Recommended for
  • equity trading 4.4/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
3,383 people chose this broker in the last 6 months
BrokerChooser Score
4.4/5

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
To read much more details about the broker's services and features, expand on the sections below.

Zacks Trade review
Fees

4.0
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.
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Zacks Trade review
Account opening

2.5
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.
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Zacks Trade review
Deposit and withdrawal

3.5
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.
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Zacks Trade review
Web trading platform

3.8
The Zacks Trade web platform is simple and easy to use, even for beginners.
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Zacks Trade review
Mobile trading platform

3.5
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.
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Zacks Trade review
Desktop trading platform

3.8
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.
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Zacks Trade review
Markets and products

3.8
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.
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Zacks Trade review
Research

4.3
Zacks Trade offers nearly limitless research possibilities, but the user interface is complicated, hard to navigate and not very well designed.
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Zacks Trade review
Customer service

4.1
Zacks Trade customer service is generally prompt and helpful. However, we missed 24-hour support, which would be a great help for international customers.
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Zacks Trade review
Education

2.5
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.
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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.
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Zacks Trade review
Bottom line

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Zacks Trade review
FAQ

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Author of this review

Gyula Lencsés, CFA

Author of this review

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

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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