The best alternatives to Zacks Trade are
Let's see in a bit more detail how the Zacks Trade alternatives compare to Zacks Trade and each other:
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| Overall score | 4.6 | 4.7 | 4.8 | 4.5 |
| Fees score | 4.3 stars | 4.3 stars | 4.1 stars | 4.5 stars |
| Account opening score | 2.8 stars | 5.0 stars | 2.9 stars | 4.4 stars |
| Deposit and withdrawal score | 3.5 stars | 1.8 stars | 3.8 stars | 1.8 stars |
| Web platform score | 4.5 stars | 4.5 stars | 4.5 stars | 4.3 stars |
| Markets and products score | 3.8 stars | 2.7 stars | 3.9 stars | 2.8 stars |
| Open account | Open account | Open account | Open account |
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, wide product selection, and low fees
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- Fidelity is recommended for investors and traders looking for solid research and great trading platforms
- Firstrade is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
Important factors of finding Zacks Trade alternatives
So far BrokerChooser has reviewed 71 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!
Zacks Trade alternatives
Zacks Trade
Zacks Trade is a US-based discount broker and division of LMBZ Securities. LMBZ Securities was founded in 1978 and regulated by the top-tier SEC and FINRA.
LMBZ Securities' clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.
If you've used Interactive Brokers' service, you might notice that many of Zacks Trade's services are the same. To summarize it:
- Zacks Trade has a different fee structure, product selection, educational tools, and customer support.
- The account opening, deposit/withdrawal, trading platforms, and research tools are the same as at Interactive Brokers.
Zacks Trade is considered safe because it has a long track record, discloses its financial statements annually (as a part of LBMZ Securities), and is regulated by top-tier regulators.
Recommended for traders and investors looking for comprehensive research tools, wide product selection, and low fees
| 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 |
Fees
Zacks Trade has both low trading fees and low non-trading fees. The stock, ETF, and bond fees are especially low and the stock margin rates are spectacular. However, mutual fund fees are quite high.
| Pros | Cons |
|---|---|
| • Low stock and ETF fees | • High fund fees |
| • No inactivity fee | |
| • Low margin rates |
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $0.0 | $0.0 |
| UK stock | $14.4 | - | $10.8 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Zacks Trade has a fully digital account opening and accepts clients from all over the world. You can start using your account by depositing less than $2,500, however, Zacks Trade recommends to deposit this amount. On the negative side, we found the process slow and hard to navigate.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow |
| • No minimum deposit | • Not user-friendly |
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 |
| Time to open account | >3 days | 1 day | 1-3 days | 1-3 days |
Learn more about Zacks Trade minimum deposit here.
Deposit and withdrawal
Zacks Trade has one free withdrawal per month for nearly all currencies offered. However, credit/debit cards and electronic wallets are not authorized to deposit or withdraw funds.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | |
| • Several account base currencies |
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No |
| Electronic wallets | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 |
Web trading platform
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 |
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| Web platform score | 4.5 stars | 4.5 stars | 4.5 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.5 stars | 3.3 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 3.8 stars | - |
Learn more about Zacks Trade's web trading platform in the detailed Zacks Trade review.
Markets and products
Zacks Trade offers stocks, ETFs, and bonds from international markets, which is fairly unique for a US-based broker. There are also US mutual funds and options provided. On the other hand, futures or forex asset classes are missing.
| Zacks Trade | TradeStation | Fidelity | Firstrade | |
|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes |
| Forex | No | No | No | No |
| Fund | Yes | Yes | Yes | Yes |
| Bond | Yes | No | Yes | Yes |
| Options | Yes | Yes | Yes | Yes |
| Futures | No | Yes | No | No |
| CFD | No | No | No | No |
| Crypto | No | Yes | No | No |
Verdict
Zacks Trade is a great US discount broker. Zacks Trade is a division of LMBZ 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, the desktop trading platform and research tools are 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.
| Zacks Trade | |
|---|---|
| Summary | Zacks Trade is a US discount broker, which also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by SIPC scheme, up to $500,000 (including $250,000 limit for cash). |
| Fees score | 4.3 stars |
| Recommended for | Traders and investors looking for comprehensive research tools, wide product selection, and low fees |
Zacks Trade alternatives
TradeStation
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
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Okayish customer service |
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals are costly and non-trading fees can be high.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees | • Non-trading fees can be high |
| • Multiple fee structures to choose from |
| TradeStation | Zacks Trade | |
|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 |
| Vodafone benchmark fee | - | $29.3 |
| EURUSD benchmark fee | - | - |
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
Account opening
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).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| TradeStation | Zacks Trade | |
|---|---|---|
| Minimum deposit | $1 | $0 |
| Time to open account | 1 day | >3 days |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
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.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| TradeStation | Zacks Trade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| TradeStation | Zacks Trade | |
|---|---|---|
| Web platform score | 4.5 stars | 4.5 stars |
| Mobile platform score | 4.8 stars | 3.5 stars |
| Desktop platform score | 2.5 stars | 3.0 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
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.
| TradeStation | Zacks Trade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | No | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | Yes | No |
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.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.3 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
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Zacks Trade alternatives
Fidelity
Fidelity is a US stockbroker founded in 1946. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Fidelity is considered safe because it has a long track record and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for solid research and great trading platforms
| Pros | Cons |
|---|---|
| • Solid research tools | • Not fully digital account opening |
| • Great web trading platform | • High mutual fund fees |
| • US and international stocks | • High financing rates |
Fees
Fidelity has low trading and non-trading fees, including commission-free stock trading. On the negative side, financing rates and fees for some mutual funds can be high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High fund fees |
| • Free stock and ETF trading | • Higher fees for non-free mutual funds |
| • Some mutual funds are free |
| Fidelity | Zacks Trade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $2.2 |
| Vodafone benchmark fee | $22.1 | $29.3 |
| EURUSD benchmark fee | - | - |
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
Account opening
Opening an account at Fidelity is easy but not fully digital, as you have to mail in a photocopy of your ID to complete your application.
| Pros | Cons |
|---|---|
| • No minimum deposit | • Not fully digital |
| • User-friendly |
| Fidelity | Zacks Trade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | >3 days |
If you are interested more in Fidelity minimum deposit, this overview will help you.
Deposit and withdrawal
Fidelity offers an exceptionally wide range of base currencies. On the negative side, credit/debit cards are not accepted and there is a charge for wire withdrawals.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • $10 for outgoing wire transfers |
| • Several account base currencies |
| Fidelity | Zacks Trade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Fidelity's web platform is easy to use, has many order types and provides two-step authentication. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Fidelity | Zacks Trade | |
|---|---|---|
| Web platform score | 4.5 stars | 4.5 stars |
| Mobile platform score | 4.5 stars | 3.5 stars |
| Desktop platform score | 3.8 stars | 3.0 stars |
Learn more about Fidelity's web trading platform in the detailed Fidelity review.
Markets and products
Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
| Fidelity | Zacks Trade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Fidelity is one of the biggest US stockbrokers and is regulated by top-tier authorities.
Fidelity's research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The web trading platform is easy to use and offers advanced order types. The offered range of products includes international stock exchanges in addition to the US market, which is not common among US brokers.
Fidelity has some drawbacks, though. The account opening process is not fully digital and fees for mutual funds are quite high, as is the financing rate.
As it has great research tools and a user-friendly web trading platform, and charges no inactivity fee, feel free to try Fidelity's services.
| Fidelity | |
|---|---|
| Summary | Fidelity is a US stockbroker. It is regulated by top-tier authorities the SEC and FINRA. |
| Fees score | 4.1 stars |
| Recommended for | Investors and traders looking for solid research and great trading platforms |
Zacks Trade alternatives
Firstrade
Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name of First Flushing Securities.
Firstrade is considered safe because it has a long track record and is regulated by top-tier regulators.
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| Pros | Cons |
|---|---|
| • Free stock, ETF, fund, and options trading | • No credit/debit cards and electronic wallets for money transfer |
| • Solid research tools | • You can trade only on US markets |
| • Quality educational tools | • No live chat and 24/7 availability |
Fees
Firstrade has low fees. It offers free stock, ETF, funds, and options trading. The non-trading fees are low too. However, the margin rates are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High margin rates |
| • Low non-trading fees | |
| • Free stock, ETF, fund and options trading |
| Firstrade | Zacks Trade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $2.2 |
| Vodafone benchmark fee | - | $29.3 |
| EURUSD benchmark fee | - | - |
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
Account opening
The account opening is fully digital and user-friendly. Firstrade is available for US and some non-US customers. On the flip side during the test we experienced a slower account opening, that took almost 3 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow account verification |
| • No minimum deposit | |
| • Low minimum deposit |
| Firstrade | Zacks Trade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | >3 days |
If you are interested more in Firstrade minimum deposit, this overview will help you.
Deposit and withdrawal
We liked a lot Firstrade's user-friendly deposit and withdrawal process. There is no deposit fee and transferring money is easy. At the same time, there is still room for improvement. You can use only bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High outgoing wire transfer fee |
| Firstrade | Zacks Trade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
During our testing, we found Firstrade's web platform is simple and easy to use. If you are a beginner, then you can easily navigate it. On the negative side, it lacks a two-step login and the customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Firstrade | Zacks Trade | |
|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.3 stars | 3.5 stars |
| Desktop platform score | - | 3.0 stars |
Learn more about Firstrade's web trading platform in the detailed Firstrade review.
Markets and products
Firstrade offers a good variety of asset classes, from stocks to options. However, the offered products cover only the US market and you cannot trade with futures or forex.
| Firstrade | Zacks Trade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Firstrade is one of the biggest discount US stockbrokers regulated by top-tier regulators.
It offers free stock, ETF, mutual funds, and options trading. It doesn't charge inactivity and account fees and there are a lot of quality research and educational tools you can use.
To provide an unbiased picture we have to mention some drawbacks though. Firstrade doesn't provide credit/debit cards and electronic wallets for transferring money. Are you interested only in U.S. market products? If yes, then you will be delighted. Otherwise, you might find insufficient that the product portfolio covers only the US market. The customer service is only 24/5 and you can't contact them via live chat.
As there are low fees and no inactivity fee is charged, feel free to try Firstrade.
| Firstrade | |
|---|---|
| Summary | Firstrade is a US discount broker regulated by the top-tier SEC and FINRA. |
| Fees score | 4.5 stars |
| Recommended for | Beginners and investors looking for zero-commission trading, focusing on the US market |
Zacks Trade alternatives
Bottom line
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.
| Broker | Info | Recommended for |
|---|---|---|
| Zacks Trade | US discount broker | Traders and investors looking for comprehensive research tools, wide product selection, and low fees |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
| Fidelity | US stockbroker | Investors and traders looking for solid research and great trading platforms |
| Firstrade | US discount broker | Beginners and investors looking for zero-commission trading, focusing on the US market |
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