Summary
Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.
LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.
If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:
- Zacks Trade has its own, different fee structure, product selection, educational tools and customer support.
- The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.
Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators.
We selected Zacks Trade as Best broker for investing for 2021, based on an in-depth analysis of 70+ online brokers that included testing their live accounts. Check out the complete list of winners.
Zacks Trade pros and cons
Zacks Trade has low fees, including low stock/ETF fees and no inactivity fee. The stock and ETF selection is outstanding, covering many international markets. We also liked the speed and professionalism of customer support, especially the live chat support.
On the negative side, the desktop trading platform and research tools are complex, not suitable for beginners. During our testing, account verification was slow while the online registration process itself is not too easy. Lastly, we missed some useful educational tools, such as webinars or general educational articles.
Pros | Cons |
---|---|
• Low fees | • Complex desktop platform and research tools |
• Extensive stock and ETF selection | • Slow and complicated account opening |
• Great customer service | • Limited educational tools |
🗺️ Country of regulation | USA |
💰 Trading fees class | Low |
💰 Inactivity fee charged | No |
💰 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 |
Zacks Trade review
Fees
or
Zacks Trade has low trading and non-trading fees. Its stock, ETF and bond trading fees are especially low, while mutual fund fees are quite high.
Pros | Cons |
---|---|
• Low stock and ETF fees | • High fund fees |
• No withdrawal fee | |
• No inactivity fee |
Assets | Fee level | Fee terms |
---|---|---|
US stock | Low | $0.01 per share commission for stocks above $1 share price, or 1% of trade value for stocks below $1 share price. The minimum fee is $1 minimum. |
EURUSD | - | Not available |
Mutual fund | High | $27.50 per transaction |
Inactivity fee | Low | No inactivity fee |
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 Fidelity. 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 | Fidelity | |
---|---|---|---|
US stock | $1.0 | $1.0 | $0.0 |
UK stock | $15.6 | - | $11.7 |
German stock | $14.4 | - | $22.8 |
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 4.5 |
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.
Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.
Zacks Trade margin rates are average. The rates vary according to the base currency of your margin account.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
USD margin rate | 3.6% | 9.5% | 8.3% |
GBP margin rate | 3.5% | - | - |
EUR margin rate | 3.5% | - | - |
There is also an added cost if you want to short sell stocks. The rates range between 0.25% and 200% depending on the asset you want to trade with. You can find the exact rates in the watchlist on the platform.
Fund fees
Zacks Trade fund fees are high.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Mutual fund | $27.5 | $15.0 | $37.5 |
Bond fees
Zacks Trade has generally low bond fees.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
US Treasury bond | $5.5 | $20.0 | $0.0 |
EU government bond | $25.0 | - | - |
Options fees
Zacks Trade options fees are low. However, Zacks Trade customers can only trade with US options.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
US stock index options | $6.9 | $10.0 | $6.5 |
Non-trading fees
Zacks Trade has low non-trading fees.
The broker does not charge any account, inactivity or deposit fees. The first withdrawal each month is also free of charge, while subsequent withdrawals carry a fee.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Account fee | No | No | No |
Inactivity fee | No | Yes | No |
Deposit fee | $0 | $0 | $0 |
Withdrawal fee | $0 | $0 | $0 |
Zacks Trade review
Account opening
or
Zacks Trade has a 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 exceptions, however, 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?
There is no minimum deposit at Zacks Trade. However, the broker recommends depositing at least $2,500 to start with.
Also, if your account balance is below $2,000, you're not eligible to subscribe to live market data or trade 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, which is only available for US clients |
UGMA/UTMA | Account for clients who are minors, which is 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.
- Input more personal details like location, address and phone number.
- Confirm employment status and income details.
- Choose security questions.
- Determine your trading goals and experiences.
- 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 disclosures and permissions documents.

Zacks Trade review
Deposit and withdrawal
or
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 trade with 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 its selected competitors in terms of base currencies offered.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Number of base currencies | 20 | 9 | 16 |
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 both for 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, however, 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 | Fidelity | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/Debit card | No | No | No |
Electronic wallets | No | No | Yes |
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, as well as wires.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Bank Transfer | Yes | Yes | Yes |
Credit/Debit card | No | No | No |
Electronic wallets | No | No | Yes |
Withdrawal fee | $0 | $35 | $0 |
ACH and check withdrawal cost $4 and $1, 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 the bank transfer withdrawal and it took 2 business days. You can only withdraw money to accounts in your name.
How do you withdraw money from Zacks Trade?
- First, log in to the Client Portal then click on 'Transfer & Pay' and 'Transfer funds'.
- Select the account you want to use for the transaction.
- At the top of the page, click on the 'Withdraw Funds' tab.
- Select the currency of your withdrawal, then the withdrawal method.
- Fill out the required information.
- Submit your withdrawal request.
- You can see the status of your request in 'View Transaction History'.
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Zacks Trade review
Web trading platform
or
The Zacks Trade web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros | Cons |
---|---|
• User-friendly | • Limited customizability (for charts, workspace) |
• Clear fee report | |
• Two-step (safer) login |
Trading platform | Score | Available |
---|---|---|
Web | 4.5 stars | Yes |
Mobile | 3.8 stars | Yes |
Desktop | 3.0 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.
On December 7, 2020, Bloomberg News reported that Interactive Brokers (IB) had a major outage resulting in its users being unable to trade for several hours. Since Zacks Trade is an introducing broker of Interactive Brokers, the turmoil also influenced its operations. The error was reportedly caused by a “high availability” data system provided by another company, which IB didn’t name. On the positive side, IB informed clients right away and apologized for the technical issues.
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. On the negative side, it is not customizable at all.

Login and security
Zacks Trade provides a safer, 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 and works better than on the Zacks Trade Pro platform.
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 desktop Zacks Trade Pro platform. Available order types 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 alerts and notifications, but only through the built-in chat. It would be better if users could set alarms when they set up their orders.
Portfolio and fee reports
Zacks Trade 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
or
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 | • Alerts only through chatbot |
• Good variety of order types |
You can use Zacks Trade's mobile trading platform, called Handy Trader, both on 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 to the web platform. On the other hand, its overall look and user-friendliness lag behind the similar mobile platforms of 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 convenience.
Search functions
The search function works well, just like at 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. For example, if you search for Apple, you can choose between Apple stock, futures, options, warrants, as well as CFDs.

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 that transfer 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 alerts only via the chatbot, which is not the most intuitive method.
Special feature – Chatbot
The most innovative and exciting function within the app is the chatbot, called IBot as it 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 of the functions, like displaying a chart, are also available via the chatbot.

Zacks Trade review
Desktop trading platform
or
The Zacks Trade Pro desktop platform has many customizable options and advanced functions. However, the platform is more suited for advanced traders.
Pros | Cons |
---|---|
• Clear fee report | • Not user-friendly |
• Good customizability (for charts, workspace) | • Poor search function |
• Good variety of order types | • Too complex for beginners |
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. Nevertheless, we tried to provide you with a comprehensive summary.
On the desktop trading platform, you have literally every feature you could desire. Whether you were dreaming of replicating your favorite ETF or trading using chatbots – with a platform like this, you can do them both.
The desktop trading platform is available in multiple languages, but fewer than the web trading platform. For example, Dutch and Slovakian are missing.
Look and feel
This platform is extremely 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.
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 the platform's weakest feature. Search results are not structured and it is quite difficult to filter out the product you are looking for.
As an example, we tried searching for RWE stock, which is a German energy utility. When we typed in "rwe" all the structured and derivative products were listed in the results as well, which made it harder to find the real stock.
Using the chatbot would be a great substitute solution. When you search for RWE directly through this feature, it will direct you to the stock listed on the main stock exchange.

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) |
The order term options also include some special types beyond the usual ones:
- Good 'till 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
or
Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker, as well as US funds and options. However, you cannot trade futures or forex.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Stock | Yes | Yes | Yes |
ETF | Yes | Yes | Yes |
Forex | No | No | No |
Fund | Yes | Yes | Yes |
Bond | Yes | Yes | Yes |
Options | Yes | Yes | Yes |
Futures | No | Yes | No |
CFD | No | No | No |
Crypto | No | No | No |
Zacks Trade covers the same asset classes as most 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 a lot of ETFs to trade. Zacks Trade has an extensive ETF selection compared to its competitors.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Stock markets (#) | 72 | 5 | 29 |
ETFs (#) | 13,000 | 2,300 | 80 |
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 | Fidelity | |
---|---|---|---|
Fund providers (#) | 255 | 55 | 560 |
Bonds
Zacks Trade's bond selection covers US and European government and corporate bonds. Compared with others, this offer is average.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Bonds (#) | 60,000 | - | 113,000 |
Options
Zacks Trade provides options from US options markets.
Zacks Trade | TradeStation | Fidelity | |
---|---|---|---|
Options markets (#) | 16 | 10 | 12 |
Zacks Trade review
Research
or
Zacks Trade offers nearly limitless research possibilities, but the user interface is complicated, hard to follow and not very well designed.
Pros | Cons |
---|---|
• Good interactive chart | • Not user-friendly |
• Trading ideas | |
• Data on asset fundamentals |
The quality of the research available at Zacks Trade is good and you can always choose from various third-party providers as well.
Trading ideas
Zacks Trade offers access to 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 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 peer group companies, for example.

Charting
Zacks Trade has nearly unlimited charting abilities. You can use 120 technical indicators. However, the charting tool itself takes considerable time and effort to learn. The features are not user-friendly, so we recommend using the educational resources to understand the capabilities.

Other special technical tools include:
- Stock/ETF benchmarker: helps you to compare your stock 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
It is also provides integrated third-party news and recommendations to the Zacks Trade desktop platform.
Upon entering the platform, you can read daily summaries of the markets through 'Daily Lineup'. This feature helps you to be informed about the latest news and analyst recommendations.
Earnings and economic calendars are also helpful quick shortcuts to start off your day. The Economic Calendar informs you about upcoming events that will have an economic impact. The feature can be accessed separately at any time from the menu, though the design could be better.
Zacks Trade review
Customer service
or
Zacks Trade customer service is quick and useful although we missed the 24-hour support that would help out 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 relevancy of the answers was satisfactory, providing links to more detailed information. However, you can only contact Zacks Trade on the chatbox live during Eastern Standard Time working hours in the United States. Outside of these hours, your best bet is to contact Zacks Trade via email support.
We received clear responses to our emails to customer support within 3 days. Nevertheless, we missed the 24/7 availability.
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.

Zacks Trade review
Education
or
Zacks Trade offers a demo account and videos on how to use its system. However, we missed some educational tools, such as general educational videos or webinars.
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 is a registration to 'Start Paper Trading', which will create a demo account for you.
However, we felt the site is missing basic information on trading and investing which would help out beginners. This reiterates our belief that Zacks Trade is geared towards experienced traders.

Zacks Trade review
Safety
or
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).
LBMZ Securities's clearing and execution services 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 provided 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, high investor protection and being regulated by top-tier authorities are all great signs for Zacks Trade's safety.
Zacks Trade review
Bottom line
or
Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA.
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 are quite complex. The account opening is complicated and slow. Lastly, we missed some useful educational tools.
As Zacks Trade provides a demo account and doesn't require any minimum deposit, feel free to try it.