Zacks Trade Logo
Our top alternative brokers to Zacks Trade
TradeStation
4.7
Open account
Fidelity
4.8
Open account
Our top alternative brokers to Zacks Trade
TradeStation
4.7
Open account
Fidelity
4.8
Open account
Zacks Trade Alternatives

The best alternatives to Zacks Trade are

  1. TradeStation - US stockbroker
  2. Fidelity - US stockbroker
  3. Firstrade - US discount broker

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

Zacks Trade alternatives comparison
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

Open account

Fees
4.3

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 alternatives trading fees
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

Open account More

Account opening
2.8

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 alternatives minimum deposit and account open times
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.

Open account More

Deposit and withdrawal
3.5

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 and alternatives withdrawal options and fees
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

Open account More

Web trading platform
4.5

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 - Web trading platform
Zacks Trade and alternatives trading platform scores
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.

Open account

Markets and products
3.8

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 and alternatives markets and products
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

Open account More

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

Open account More

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

Open account

Fees
4.3

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
Zacks Trade vs. TradeStation: Trading fees
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

Open account More

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).
Pros Cons
Fast Only USD accounts (unless you trade futures)
Fully digital
User-friendly
Zacks Trade vs. TradeStation: Minimum deposit, time to open an account
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.

Open account More

Deposit and withdrawal
1.8

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)
Zacks Trade vs. TradeStation: Withdrawal options
TradeStation Zacks Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

Open account More

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.
Pros Cons
User-friendly No price alerts
Clear fee report
Two-step (safer) login
Web trading platform of TradeStation, a Zacks Trade alternative
Zacks Trade vs. TradeStation: Trading platform scores
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.

Open account

Markets and products
2.7

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.
Zacks Trade vs. TradeStation: Markets and products
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

Open account More

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

Open account More

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

Open account

Fees
4.1

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
Zacks Trade vs. Fidelity: Trading fees
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

Open account More

Account opening
2.9

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
Zacks Trade vs. Fidelity: Minimum deposit, time to open an account
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.

Open account More

Deposit and withdrawal
3.8

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
Zacks Trade vs. Fidelity: Withdrawal options
Fidelity Zacks Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets Yes No
Withdrawal fee $0 $0

Open account More

Web trading platform
4.5

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
Web trading platform of Fidelity, a Zacks Trade alternative
Zacks Trade vs. Fidelity: Trading platform scores
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.

Open account

Markets and products
3.9

Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
Zacks Trade vs. Fidelity: Markets and products
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

Open account More

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

Open account More

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

Open account

Fees
4.5

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
Zacks Trade vs. Firstrade: Trading fees
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

Open account More

Account opening
4.4

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
Zacks Trade vs. Firstrade: Minimum deposit, time to open an account
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.

Open account More

Deposit and withdrawal
1.8

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
Zacks Trade vs. Firstrade: Withdrawal options
Firstrade Zacks Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

Open account More

Web trading platform
4.3

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
Web trading platform of Firstrade, a Zacks Trade alternative
Zacks Trade vs. Firstrade: Trading platform scores
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.

Open account

Markets and products
2.8

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.
Zacks Trade vs. Firstrade: Markets and products
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

Open account More

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

Open account More

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.

Zacks Trade alternatives
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

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

Author of this article

Nicole Conrad

Author of this article

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Nicole Conrad

Broker Analyst

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

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

Share

Comments

×