Zacks Trade Alternatives

The best alternatives to Zacks Trade are

1. ChoiceTrade - US-based stockbroker
2. TradeStation - US stockbroker
3. tastyworks - US options and stockbroker
4. Interactive Brokers - US discount broker

Let's see in a bit more detail how the Zacks Trade alternatives compare to Zacks Trade and each other:

Why are these brokers considered good alternatives to Zacks Trade? There are many areas based on which Zacks Trade can be compared with others. When we say a given online broker is a good alternative to Zacks Trade we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

Zacks Trade alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• Zacks Trade is recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
• ChoiceTrade is recommended for stock and options traders looking for low trading fees and focusing on the us market
• TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
• tastyworks is recommended for options and futures traders focusing on us markets
• Interactive Brokers is recommended for traders looking for low fees and a professional trading environment

Important factors of finding Zacks Trade alternatives

So far BrokerChooser has reviewed 86 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether Zacks Trade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Zacks Trade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Zacks Trade alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Zacks Trade, the account opening is slower than average, so if you consider this important some Zacks Trade alternatives can be a good choice.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Zacks Trade, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Zacks Trade alternative is a must.

Now let's dive into the details of how Zacks Trade and its alternatives perform in the most important areas!

ChoiceTrade is a US-based stockbroker founded in 2000. The broker is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and it is also a member of SIPC. SIPC membership ensures that clients are eligible for the SIPC investor protection scheme, which protects assets up to $500,000 (cash up to $250,000) per account.

ChoiceTrade is considered safe because it has a long track record, it is regulated by top-tier regulators and it discloses its annual financial statements. 

Recommended for stock and options traders looking for low trading fees and focusing on the us market

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Fees

4.4

ChoiceTrade charges low trading fees and you can trade listed stocks and ETFs with no commission. On the flip side, the non-trading fees are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.4

Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international clients.

If you are interested more in ChoiceTrade minimum deposit, this overview will help you.

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Deposit and withdrawal

0.8

The deposit process at ChoiceTrade is smooth, but withdrawing funds is cumbersome. Credit/debit cards are not accepted, there is a high withdrawal fee and the process is not user-friendly.

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Web trading platform

1.5

ChoiceTrade's web trading platform offers a clear fee report and a great variety of order types. On the other hand, the design is outdated, there is no two-step login, and the search functions are poor.

Learn more about ChoiceTrade's web trading platform in the detailed ChoiceTrade review.

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Markets and products

2.1

ChoiceTrade only offers stocks, ETFs and options traded on US and Canadian exchanges.

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Verdict

US and international clients can trade listed stocks and ETFs with no commission at ChoiceTrade. The account opening is easy, fully digital and takes 1-2 days. The broker also offers a great and user-friendly mobile trading platform.

On the negative side, the inactivity fee and withdrawal fees for bank transfers are high. The withdrawal process is not user-friendly and only bank transfer is available. The product portfolio is limited, you can only trade stocks, ETFs, and options.

Given that the account opening is seamless and you can trade stocks and ETFs with zero commission, feel free to try it.

Below you can find links to all aspects of ChoiceTrade in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our ChoiceTrade fees article.

What about the minimum deposit?

Our ultimate guide to the ChoiceTrade minimum deposit is updated regularly.

How to start your ChoiceTrade account?

Look no further than our evaluation of the ChoiceTrade account opening.

How's their trading app?

Here's our expert view after checking the ChoiceTrade trading app.

Is the quality of customer service satisfactory?

All you need to know about the ChoiceTrade customer service.

Legit or scam?

Is ChoiceTrade 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 ChoiceTrade is really free.

Is this broker good for beginners?

We checked it in Is ChoiceTrade good for beginners.

Should you buy your silver bullets on ChoiceTrade?

Research for silver bugs in the Silver buy on ChoiceTrade guide

I want to trade options, are they available at ChoiceTrade?

We explored the topic in Can you trade options on ChoiceTrade?

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TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).

TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.

Recommended for traders focusing on us markets and buy-and-hold investing

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Fees

4.1

TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

5.0

TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).

If you are interested more in TradeStation minimum deposit, this overview will help you.

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Deposit and withdrawal

2.3

TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.

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Web trading platform

4.5

TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.

Learn more about TradeStation's web trading platform in the detailed TradeStation review.

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Markets and products

2.8

TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.

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Verdict

TradeStation is a great US broker.

The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.

On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.

Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.

Below you can find links to all aspects of TradeStation in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our TradeStation fees article.

What about the minimum deposit?

Our ultimate guide to the TradeStation minimum deposit is updated regularly.

How to start your TradeStation account?

Look no further than our evaluation of the TradeStation account opening.

How's their trading app?

Here's our expert view after checking the TradeStation trading app.

Is the quality of customer service satisfactory?

All you need to know about the TradeStation customer service.

Legit or scam?

Is TradeStation 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 TradeStation is really free.

Is this broker good for beginners?

We checked it in Is TradeStation good for beginners.

Should you buy your silver bullets on TradeStation?

Research for silver bugs in the Silver buy on TradeStation guide

I want to trade options, are they available at TradeStation?

We explored the topic in Can you trade options on TradeStation?

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tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients

The people behind tastyworks are the same experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.

Recommended for options and futures traders focusing on us markets

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Fees

4.5

tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

5.0

tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.

If you are interested more in tastyworks minimum deposit, this overview will help you.

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Deposit and withdrawal

1.9

tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.

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Web trading platform

3.4

The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.

Learn more about tastyworks's web trading platform in the detailed tastyworks review.

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Markets and products

2.6

At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.

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Verdict

tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.  

tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders, and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.

As there is no minimum deposit, no inactivity fee or monthly fee, and the account opening process is seamless, you should feel free to try it.

Below you can find links to all aspects of tastyworks in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our tastyworks fees article.

What about the minimum deposit?

Our ultimate guide to the tastyworks minimum deposit is updated regularly.

How to start your tastyworks account?

Look no further than our evaluation of the tastyworks account opening.

How's their trading app?

Here's our expert view after checking the tastyworks trading app.

Is the quality of customer service satisfactory?

All you need to know about the tastyworks customer service.

Legit or scam?

Is tastyworks 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 tastyworks is really free.

Is this broker good for beginners?

We checked it in Is tastyworks good for beginners.

Should you buy your silver bullets on tastyworks?

Research for silver bugs in the Silver buy on tastyworks guide

I want to trade options, are they available at tastyworks?

We explored the topic in Can you trade options on tastyworks?

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Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

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Fees

4.2

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

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Deposit and withdrawal

3.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.

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Web trading platform

4.5

Interactive Brokers's web platform is simple and easy to use, even for beginners.

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products

5.0

Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.

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Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.

On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools. 

There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.

Below you can find links to all aspects of Interactive Brokers in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Interactive Brokers fees article.

What about the minimum deposit?

Our ultimate guide to the Interactive Brokers minimum deposit is updated regularly.

How to start your Interactive Brokers account?

Look no further than our evaluation of the Interactive Brokers account opening.

How's their trading app?

Here's our expert view after checking the Interactive Brokers trading app.

Is the quality of customer service satisfactory?

All you need to know about the Interactive Brokers customer service.

Legit or scam?

Is Interactive Brokers 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 Interactive Brokers is really free.

Is this broker good for beginners?

We checked it in Is Interactive Brokers good for beginners.

Should you buy your silver bullets on Interactive Brokers?

Research for silver bugs in the Silver buy on Interactive Brokers guide

I want to trade options, are they available at Interactive Brokers?

We explored the topic in Can you trade options on Interactive Brokers?

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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. 

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees

Fees

4.3

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.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening

2.8

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.

Learn more about Zacks Trade minimum deposit here.

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.

Web trading platform

4.5

The Zacks Trade web platform is simple and easy to use even for beginners.

Learn more about Zacks Trade's web trading platform in the detailed Zacks Trade review.

Markets and products

3.8

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.

Verdict

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.

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?

Based on our analysis, there are several good alternatives to Zacks Trade. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.