Is TradeZero Legit?

Jeremy BiberdorfBy: Jeremy Biberdorf

March 31, 2023March 31, 2023


In the ever-evolving landscape of trading platforms, it can be challenging to separate the wheat from the chaff. As traders search for the perfect platform to grow their wealth, one contender catches the eye: TradeZero.

With its appealing features and impressive reputation, it has piqued the interest of many. But in this digital age of uncertainty, is TradeZero truly a reliable option, or is it just another fleeting promise? Let’s dive deeper and find out if TradeZero is genuinely a legitimate choice for traders seeking a trusted partner in the financial world.
Learn More About TradeZero

Company Background

TradeZero is an online brokerage firm that has made a name for itself as a reliable platform for short selling and commission-free trading. Since its founding in 2014, the company has consistently focused on providing advanced trading tools, direct market access, and a user-friendly experience to cater to the needs of active traders and day traders.

In recognition of its commitment to excellence and the quality of its services, TradeZero has received prestigious industry accolades, such as the Benzinga Global Fintech Awards. The company was awarded the Best Brokerage for Short Selling at both the 2020 and 2021 editions of the 7th Annual Benzinga Global Fintech Awards. These awards are a testament to TradeZero’s dedication to providing innovative solutions and services to its clients, particularly in the area of short selling.

The Benzinga Global Fintech Awards are highly regarded within the financial industry, celebrating the achievements of companies and individuals that are driving innovation and positive change in the fintech space. Winning the award for Best Brokerage for Short Selling not once, but twice, highlights TradeZero’s commitment to meeting the needs of traders seeking to capitalize on short selling opportunities.

TradeZero’s impressive track record is further bolstered by its proprietary stock locate platform, ZeroLocate. This platform is designed to help traders find shares to short, even for hard-to-borrow stocks. By providing users with access to an extensive inventory of stocks to short, TradeZero sets itself apart from many other brokerage firms.

Custom Reviews

With an impressive TrustScore of 4.5 out of 5 and over 2,724 reviews, it is clear that TradeZero has a strong reputation among its clients. The question many traders ask is whether TradeZero is a legitimate choice for their trading needs. Based on the overwhelmingly positive feedback from clients, it is evident that TradeZero is indeed a legitimate option for traders seeking a reliable and user-friendly platform.

One of the key indicators of TradeZero’s legitimacy is the high satisfaction rate among its clients, which is reflected in the TrustScore. Many users have praised the platform’s customer service, which is available 24/7 and resolves issues promptly. Clients have also highlighted the live support feature, which ensures that assistance is available within minutes, regardless of the time or day. This level of customer support is a testament to TradeZero’s commitment to providing a seamless trading experience for its users.

Additionally, clients appreciate the platform’s comprehensive suite of trading tools, including the ability to short stocks, access to cryptocurrencies, and the provision of 6x leverage. Despite some limitations, such as the lack of certain order types like trailing stop loss, clients have generally found TradeZero’s features to be more than sufficient for their trading needs.

TradeZero’s user interface has also received high praise from users, who have found it to be smooth and easy to navigate. The platform’s intuitive design, combined with its advanced capabilities, make it an excellent choice for both beginners and experienced traders.

“Customer service is immediate, responsive, and personable. Platform UI is unparalleled as are their commissions (for Canada). Their UI and overall smoothness of experience is phenomenal. I just had issues with utilizing their paid ($59.00 USD) ZeroPro Demo account and there were multiple bugs and issues. They did rectify them but not without me being the advocate. I still think they deserve a 5-Star because everything else is overwhelmingly great, they own up to and fix their mistakes, and they always seek to improve. This platform is definitely the future for trading and I plan to use it a lot more going forward.”
“TradeZero is a good stock brokerage app. Their customer service is available 24/7 but even better they are available the very moment you contact them. They also hv crypto, ability to short stocks, 6x leverage, commission free trades & a windows app with hot keys & other host of features . Downside for me is not enough order types, e.g Trailing Stop Loss is not available.”

TradeZero: Valuable Benefits and Features for Active Traders

TradeZero has emerged as a preferred choice for many traders, thanks to its unique features and benefits that cater to a wide range of trading needs. In this article, we will discuss the most valuable benefits and features of TradeZero, along with the type of traders that would benefit the most and those who may not find it suitable.

  • Commission-Free Trading: One of the most significant advantages of TradeZero is commission-free trading. This feature allows traders to keep their costs low while trading stocks, which can lead to higher profits. Commission-free trading is particularly beneficial for active traders, as frequent trading activity can quickly add up to significant costs. With TradeZero, traders can execute trades without worrying about the impact of trading fees on their bottom line.
  • Advanced Trading Platforms: TradeZero offers advanced trading platforms, including a web-based platform, a desktop platform, and a mobile trading app. These platforms are designed to cater to the needs of different traders and provide them with real-time charting, direct market access, and real-time streaming quotes. The advanced features enable traders to make informed decisions based on accurate and up-to-date market data.
  • Margin Trading: TradeZero offers competitive margin trading options, allowing experienced traders to leverage their capital and potentially increase their returns. The fee structure for margin trading is attractive, with lower interest rates for traders who maintain a higher account balance.
  • TradeZero America and TradeZero International: The company has a dual structure, with TradeZero America catering to U.S. clients and TradeZero International serving international traders. This separation allows TradeZero to provide tailored services to different clients, addressing their specific needs and preferences.
  • Minimum Deposits and Account Balance: TradeZero has a relatively low minimum deposit requirement, making it accessible to a broader range of traders. The minimum account balance is also reasonable, allowing traders to maintain their accounts without feeling pressured to invest more than they are comfortable with.
  • Customer Service and Personal Account Liaison: TradeZero is known for its excellent customer service, which includes a personal account liaison for each client. This liaison helps traders navigate the platform, resolve issues, and receive personalized assistance. The availability of dedicated customer support enhances the overall trading experience and ensures that traders receive timely assistance when needed.
  • Options Trading: Although TradeZero primarily focuses on stock trading, the platform also offers options trading. Options trading allows traders to diversify their portfolio and engage in different trading strategies. However, it is essential to note that options trading is not commission-free, and fees apply for option contracts.
  • International Clients: TradeZero is a popular choice among international traders, as the platform offers competitive pricing and services tailored to the needs of international clients. However, it is crucial to consider the withdrawal fee that applies to international clients, which may impact the overall cost of trading.

Not Ideal for:

  • Penny Stock Traders: TradeZero’s commission-free trading does not extend to penny stocks, and fees apply for trading stocks priced below $1. Traders who focus on penny stocks may need to evaluate the platform’s fee structure before committing to it.
  • Futures and ETF Traders: TradeZero does not currently support futures contracts or ETF trading. Traders who specialize in these areas may need to explore alternative platforms that cater to their specific needs.
  • Pattern Day Traders: Although TradeZero is an excellent choice for active traders, pattern day traders (those who execute more than three day trades within a rolling five-business-day period) should be aware of the minimum deposit requirements and account balance rules. Failure to maintain the required balance could lead to restrictions on trading activity.

Final Thoughts – Is TradeZero Legit?

After an in-depth examination of TradeZero’s background, features, benefits, and customer reviews, it is clear that TradeZero is not only legit, but it is worth it. The company’s commitment to providing advanced trading tools, responsive customer service, and a user-friendly experience has earned it a strong reputation within the trading community. While it may not be the perfect fit for every type of trader, it is undoubtedly a compelling option for those seeking a trustworthy platform for trading stocks and options.

With an impressive TrustScore and numerous positive reviews, TradeZero has proven itself as a dependable choice for active traders and day traders alike. As you consider your options for a trading platform, we encourage you to take a closer look at TradeZero and determine if it aligns with your trading needs and goals. Click here to check it out today!

Get Started With TradeZero

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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