Jeremy Biberdorf
By: Jeremy Biberdorf
Aug 16, 2023

Zacks Trade Review 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
Aug 16, 2023


Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
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4.1 rating based on 5 ratings

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In a nutshell: Zacks Trade is a leading online trading brokerage established in 2013 to cater to the specific needs of active traders. Committed to providing powerful trading tools, low margin rates, and live customer support, Zacks Trade has always promoted the importance of thinking independently and analyzing carefully since its inception. Offering three distinct user portals for flexible trading and extensive access to research, including 20 free subscriptions and 80 premium trials, Zacks Trade seeks to empower traders to execute their biggest ideas in a way that suits them best. While prioritizing account security and the protection of assets, Zacks Trade stands as a platform designed for both seasoned professionals and more casual traders, serving as a testament to the vision of its founder, Len Zacks, and his innovative investment approach.

In this Zacks Trade review, we’ll take a closer look at Zacks Trade and its brokerage services.

Service TypeFees
Stocks Order Automation ToolVariable
Pros & Cons
  • Outstanding research reports for all types of assets
  • Live brokers and competent customer service
  • Access to 91 international exchanges in 19 countries
  • 24/7 trading
  • Multiple Trading Platforms
  • Solid account Protection and Security
  • Availability of demo accounts
  • High account minimum.
  • There’s an inactivity fee of $15 per month for accounts under $25,000,

Zacks Trade Overview

Zacks Trade, an online broker established in 2013, is a division of LBMZ Securities. Client assets are held with the Interactive Brokers clearing firm, ensuring safety and trust. Zacks Trade clients benefit from using Interactive Brokers’ (IBKR) trading platforms, mobile apps, and many other distinguished features. This premier online trading brokerage caters specifically to the active trading community, emphasizing the principles of independent thinking and analytical rigor. Offering powerful trading tools, competitive margin rates, and responsive live customer support, Zacks Trade is a top choice for many.

The platform provides three distinct user portals tailored for flexible trading and presents in-depth research resources available in both free and premium tiers. Furthermore, its global reach covers 91 international exchanges across 19 countries. There’s a minimum requirement of $2,500 to open an account, but this entry-point grants traders a wealth of investment options, excluding futures and commodities. With a fee structure aimed at balancing cost-effectiveness with premium services, the brokerage also facilitates trading in fractional shares, making the world of investing more accessible to beginners. Feel free to explore Zacks Trade’s platform by using this link.

Zacks Trade’s Offerings

Zacks Trade provides its users with a range of versatile tools and features. There’s a striking resemblance between Zacks Trade and Interactive Brokers, which serves as the custodian for Zacks. Clients have the flexibility to access their accounts through both portals. There is an assortment of products that caters well to the needs of most investors, coupled with outstanding research tools. The screening and investment platforms mirror those available at Interactive Brokers. However, Zacks sets itself apart by presenting exclusive research, data packages, more favorable margin rates, and the assurance of licensed stock brokers for every client. In addition, their three complimentary trading platforms are particularly tailored for those with a penchant for active trading.

Below are what Zacks Trade offers users:

  • Opportunities for global investments
  • Comprehensive screeners for all types of assets
  • Around-the-clock trading, 24/7
  • The ability to trade in fractional shares

Zacks Trade Investment Assets

Zacks Trade offers a diverse range of investment opportunities to suit various financial goals and strategies. While certain assets such as futures, commodities, and initial public offerings (IPOs) are not part of their offerings, the platform does provide an extensive selection of other investment choices.

Investors with Zacks Trade have access to the following:

  • Stocks: A wide variety of domestic and international stocks.
  • Mutual Funds: Diverse funds to suit different investment objectives and risk tolerances.
  • ETFs: Exchange-Traded Funds that offer liquidity and flexibility.
  • Options: Various contracts for those looking to engage in more complex trading strategies.
  • Corporate Bonds: Investment in company debt for potential income.
  • Government Bonds: A more conservative investment in federal government debt.
  • Cryptocurrency: Access to this emerging digital asset class.

Through Zacks Trade, active investors can build a versatile portfolio that aligns with their unique financial needs and investment preferences.”

Zacks Trade Fees and Costs

Zacks Trade charges a fee of 1 cent per share, with a minimum charge of $1. This means that a transaction involving 1,000 shares of an ETF or stock incurs a $10 commission. Large-scale traders considering a 10,000-share trade would face a $100 commission, a cost that may initially seem steep.

However, Zacks Trade has some balancing features to consider. There are no additional fees for broker-assisted trades, which can offset the commission for smaller lots. Margin rates are impressively low, and most other fees and services are on par with or surpass those of competitors.

Here’s a detailed breakdown of what Zacks Trade offers:

  • Investment Minimum: $2,500
  • Account Management: Free
  • Withdrawals: Free withdrawal per month
  • Options Trades: Free, with 75 cents per contract fee ($1 for the first contract)
  • Foreign Stock Trading Commissions: Low, varying by country
  • Mutual Fund Trades: $27.50 per trade
  • Corporate Bonds:1% of face value plus $3 per bond up to $10,000 face value
  • Government Bonds:025% of face value plus $3 per bond up to $1 million face value
  • Trading Platforms: Free access to three platforms
  • Research Reports: Access to 20 free reports, with additional paid subscriptions and data packages available

In addition to these offerings, Zacks Advantage, their robo-advisor, charges management fees. These range from 0.7% for accounts valued from $25,000 to $99,999, down to 0.35% for those worth $250,000 or more.

Zacks Trade’s fee structure provides a simple approach, combining both cost-effective options and premium features, catering to a diverse range of trading needs.

Fractional Shares at Zacks Trade

Zacks Trade provides the option of investing in fractional shares for both new purchases and reinvested dividends, a feature that tends to resonate with newer investors. This approach ensures that investors can fully allocate their desired investment amount without any residual cash remaining simply because a full share of a stock or ETF was out of their budget. It’s important to mention that some brokerages only offer fractional shares when dividends are reinvested.

Zacks Trade Research for Traders

Zacks Trade provides its users with a comprehensive collection of market data, research, and tools tailored to the needs of its traders. At no additional cost, customers of Zacks Trade gain access to a rich selection of over 20 esteemed publications. This includes insightful reports from industry leaders such as Morningstar, Zacks Investment Research, Thomson Reuters, and The Motley Fool. For those seeking even more specialized insights, Zacks Trade also provides the option to conveniently subscribe to over 80 additional reports directly through their platform.

Zacks Trade Platforms

Zack Trade has various trading platforms for all kinds of traders. Whether you’re an experienced trader or just starting out, working from the office or trading on the move, Zacks Trade provides a platform tailored to each individual’s needs and preferences.

Here are the platforms available on Zack Traders.

Client Portal

Every Zacks Trade customer can access their own Client Portal, a convenient interface allowing them to place and manage trades, review account documents, and oversee various account settings, subscriptions, and permissions. It’s a unified entry point for managing trades, reviewing statements, and adjusting account settings. It’s Best for those looking for a straightforward approach to trading and managing accounts.

Zacks Trade Pro

Zacks Trade’s premier platform, Zacks Trade Pro, offers a sophisticated desktop trading platform aimed at active traders aiming to maximize their market potential. With features like built-in algorithms, market scanners, technical indicators, and various trading tools, it offers a customizable interface that caters to each user’s unique preferences. It has the capabilities for handling complex trades, access to current news, and a suite of tools for technical research and analysis. It’s best for traders engaging in high-volume activities.

Zacks Trade App

With the Zacks Trade app, mobility doesn’t hinder functionality. This handy app lets users enter and manage orders, oversee their portfolio and account balances, and much more, all through the convenience of a mobile device. It allows trading of stocks, options, and other securities on the move. It’s best for traders who require accessibility while away from a desk.

Zacks Trade Withdrawal

For the convenience of its users, Zacks Trade ensures that the first withdrawal each month is completely free of charge. However, fees for subsequent withdrawals can vary based on both the currency and the withdrawal method chosen. It’s important to note that withdrawals can only be directed to accounts registered under the client’s name. Specific fees for ACH and check withdrawals stand at $1 and $4, respectively. In the case of wire withdrawals, the fee is contingent upon the currency in question.

Zacks Trade Deposit

Zacks Trade offers a multitude of deposit options to cater to the diverse requirements of its clients. Those residing in the US can take advantage of several methods, including ACH (Automated Clearing House), check, online bill payment, direct rollover (exclusively for IRA accounts), and trustee-to-trustee transfers (also limited to IRA accounts). Additionally, both US and international clients can utilize wire transfers for their deposit needs. It’s noteworthy that within the US, wire transfers typically finalize in one day, while for international users, the completion can take up to five days. For clients looking to transition from another broker, Zacks Trade makes the switch hassle-free via the ACAT (Automated Client Account Transfer) service. However, the platform does not accommodate transactions via credit/debit cards or electronic wallets.

Education at Zacks Trade

For those eager to familiarize themselves with Zacks Trade’s offerings, they provide a demo account complemented by instructional videos detailing platform utilization. To access this free demo account, you should navigate to the ‘Platforms’ section and choose ‘Zacks Trading Pro’. Toward the page’s end, a registration section labeled ‘Start Paper Trading’ can be found, allowing you to create a demo account.

Account Protection at Zacks Trade

Zacks Trade takes the security and protection of its clients’ accounts very seriously. By employing advanced encryption technology and multi-step authentication, they’ve instituted robust precautions to ensure that assets are safe and accounts remain secure.

Secure Login System for Clients

Every client at Zacks Trade must create a unique username and password and use a security code device or mobile application for multi-factor authentication.

Clients are encouraged to request a secure login card when funding their accounts. If they do not, new clients will automatically receive a card by mail the following month. This secure login system adds a critical extra layer of security to keep information and assets safe.

Additional Security Features

  • SSL Encryption: Zacks Trade utilizes 128-bit SSL encryption to secure the connection between clients’ computers and their platforms. (Note: This may affect performance on some computers.)
  • Automatic Account Timeout: Clients will be logged out of their accounts automatically after a specified period of inactivity, enhancing security.
  • Failed Login Attempts: Zacks Trade restricts access to accounts after a set number of failed login attempts to prevent unauthorized entry.

Through these measures, Zacks Trade commits to providing a secure and trustworthy trading environment. For them, protecting your account is not just a priority—it’s a responsibility.

Customer Service and Satisfaction at Zacks Trade

Zacks Trade is committed to delivering excellent customer service and ensuring client satisfaction. Their customer support team is available from 9 a.m. to 6 p.m. EST, Monday through Friday, and is provided by a team of licensed brokers equipped to handle a wide array of inquiries and concerns. For those who prefer written communication, customer service is also available via email.

Clients can enjoy the convenience of chat support for more immediate assistance, enhancing the responsive and high-quality service that Zacks Trade is known for. In addition, social media channels offer yet another avenue to connect with the brokerage firm.

Through these various methods of communication and a dedication to quality, Zacks Trade strives to meet the individual needs and expectations of each client.

Who Benefits Most from Zacks Broker Accounts?

  • Talented Traders: Those in search of professional-grade tools to refine their strategies.
  • Research-Driven Investors: Individuals seeking extensive investment research resources to guide their decisions.
  • Margin Traders: Investors who value competitive borrowing rates.
  • Accessibility Seekers: Those who prioritize seamless access to their investment broker.
  • Professional Traders: Individuals in search of a premier trading platform to enhance their operations.
  • Global US Investors: US-based investors who engage in international trades.
  • International Investors: Non-US investors looking for a US brokerage account.
  • Diverse Account Seekers: Individuals desiring a broad spectrum of account types to suit their needs.

Zacks Trade Review – Final Thoughts

Zacks Trade has firmly positioned itself as a leading trading platform, emphasizing robust research tools, comprehensive offerings, and client security since its establishment in 2013. Its vast range of services, combined with a focus on customer satisfaction, makes it a reliable choice for traders of all calibers.

One of the standout features of Zacks Trade is its dedication to top-notch research and the wealth of information it provides its users. From beginners to seasoned professionals, everyone can find value in the extensive research resources and tools available.

Moreover, the transparent trading fee structure ensures that traders have clarity on costs, helping them make informed decisions. And with the ability to engage in global trading, experienced investors have an array of choices to diversify and optimize their portfolios.

On the security front, Zacks Trade goes the extra mile with its secure login system and additional safety features. Such commitment showcases their dedication to ensuring client funds and information remain uncompromised.

However, like any trading platform, it’s crucial for potential users to gauge their specific needs, trading style, and objectives against what Zacks Trade offers. The platform excels in many areas, but factors such as the high account minimum deposits and inactivity fees might give some users pause.

All in all, Zacks Trade stands as a testament to comprehensive trading solutions, pairing state-of-the-art technology with a client-focused approach. Whether you’re an investor seeking diverse global opportunities or a seasoned trader prioritizing advanced tools and research, Zacks Trade offers a compelling platform worth considering. Click here to get started.

Frequently Asked Questions

A: Based on our findings, a bank transfer withdrawal from Zacks Trade usually takes about 2 business days.

If you’re a customer outside of the US, you have the option to use wire transfers for withdrawals.

Zacks Trade offers access to 20 free research subscriptions and the option to subscribe to over 80 premium trials.

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.