Alpaca Trading vs Zacks Trade compared

Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against Zacks Trade!

Alpaca Trading
Zacks Trade

Last update of dataDec 2022

Alpaca Trading

Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA:

Recommended for traders interested in algorithmic stock trading.

Zacks Trade

Zacks Trade is a US discount broker that 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 the SIPC scheme, up to $500,000 (including a $250,000 limit for cash).

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

Alpaca Trading's service is on par with Zacks Trade's and a comparison of their fees shows that Alpaca Trading's fees are slightly lower than Zacks Trade's.

Account opening takes less effort at Alpaca Trading compared to Zacks Trade, deposit and withdrawal processes are more complicated at Alpaca Trading, while customer service quality is similar to Zacks Trade's.

Our experts rated the trading platform of Alpaca Trading as being of the same quality as the platform of Zacks Trade, found that clients have access to slightly less markets and products with Alpaca Trading, while Zacks Trade provides somewhat lower-quality research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.7

Recommended for Traders interested in algorithmic stock trading

Overall Score
4.4

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

Country of origin

USA

Country of origin

USA

Fees

Fees score
4.8
Fees score
4.0
Fees summary

Free stock and ETF trading, low non-trading fees

Fees summary

Low trading and non-trading fees, high fund fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
1.8
Deposit and withdrawal score
3.5
Number of base currencies

1

Number of base currencies

20

Deposit type

Withdrawal type

Account opening

Account opening score
4.8
Account opening score
2.5
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$0

*
Time to open account

1 day

Time to open account

>3 days

Required documents

Social security number, other proof of residence

Required documents

Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement

Trading platform

Web platform score
3.7
Web platform score
3.8
Mobile platform score
4.2
Mobile platform score
3.5
Desktop platform score
-
Desktop platform score
3.8

Markets and products

Markets and products score
2.6
Markets and products score
3.8
Stocks
*
*
Stocks
*
*
Fractional shares
*
*
Fractional shares
*
*
ETFs
*
*
ETFs
*
*
Forex
Forex
Funds
Funds
*
*
Bonds
Bonds
*
*
Options
Options
*
*
Futures
Futures
Crypto
Crypto
*
*
CFDs
CFDs

Research, education

Research score
5.0
Research score
4.3
Charting quality

Great

Charting quality

Great

Education score
5.0
Education score
2.5
Demo account
Demo account

Customer service

Customer service score
3.7
Customer service score
4.1
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

$500,000 ($250,000 cash limit) plus $30 million (with a cash sub-limit of $900,000) subject to an aggregate limit of $150 million.

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

2015

Foundation date

1978

Country of regulation

USA

Country of regulation

USA

Alpaca Trading

For detailed information and hands-on experience, read our review of this broker.

Zacks Trade

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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