Advantages, disadvantages and who should create an account

When you buy through our links, Insider may earn an affiliate commission. Learn more.

Costs

Stocks and ETFs: $0.01 per share if stocks are greater than $1 or 1% of trading volume if investments are less than $1; options: $1 for the first contract and $0.75 per additional contract

Types of investment

Stocks, ETFs, options, mutual funds and bonds

Costs

Stocks and ETFs: $0.01 per share if stocks are greater than $1 or 1% of trading volume if investments are less than $1; options: $1 for the first contract and $0.75 per additional contract

Types of investment

Stocks, ETFs, options, mutual funds and bonds

Advantages

  • Advanced trading tools and platforms that support frequent traders and options traders
  • Free market research subscriptions included with account
  • You don’t have to pay any additional fees for broker-assisted trades (some platforms, like Charles Schwab, charge an additional $25 for these trades)
  • Trading on available margin

The inconvenients

  • High minimum requirement
  • Fees/commissions are higher than most competitors

Read our review
Read our review A long arrow pointing to the right

More information

  • Promotion: None at this time.

Global mark

Is Zacks Trade for you?

Zacks Trade is an online brokerage that dates back to 1978. The investing platform is aimed at advanced active traders who like to control the securities that come in and out of their accounts, and it offers stocks, ETFs, options, mutual funds, etc

Zacks Trade is a division of LBMZ Securities, which is affiliated with Interactive Brokers, LLC.

Its Handy Trader mobile app is available on iOS and Android devices.

Zacks Trade vs. Interactive Brokers

Zacks Trade and Interactive Brokers are two great options for those who want to trade stocks on their own. Each brokerage offers investments such as stocks, options and ETFs, but there are notable differences.

You will need a lot more ($2,500) to get started with Zacks Trade. Interactive Brokers, on the other hand, has no minimum requirements for its brokerage accounts. Additionally, Interactive Brokers may be the best option if you are looking for a wider range of products (eg, automated accounts, precious metals, and other assets).

Zacks Trade vs Webull

While Zacks Trade and Webull both allow you to trade stocks, ETFs, and options, Webull is a better choice both for lower fees and for traders interested in cryptocurrencies and ADRs. However, when it comes to its vast research selection, Zacks Trade has an edge over Webull.

Ways to invest with Zacks Trade

Self-Directed Brokerage Accounts

Zacks Trade is best for busy, active traders who don’t mind spending a bit more to use things like market research reports and advanced trading tools. Although the brokerage’s minimum of $2,500 is relatively high (popular brokerages like Fidelity, Charles Schwab, and Interactive Brokers all have account minimums of $0 for their self-directed trading accounts), it gives its users access to more than 20 free research subscriptions and 80 premium trials. .

These offerings include market analysis from companies such as Dow Jones, Morningstar and Seeking Alpha. When it comes to its trading tools, Zacks Trade offers algorithmic/stock programming tools, market scanners (these allow you to filter stocks, bonds, mutual funds, and options based on your preferences), options strategy labs, volatility filters, etc.

When it comes to its account types, Zacks Trade offers individual, joint, custodial, and trust accounts. It also supports traditional IRAs, Roth IRAs, SEP IRAs, rolling IRAs, and corporate and institutional accounts.

Customer Portal vs Zacks Trade Pro

Every customer has access to the Zacks Trade customer portal. This platform is ideal for those who just want to transact once in a while and manage account balances in one place.

However, if you are looking to perform high volume trades for investments such as options and stocks, Zacks Trade Pro is probably a more suitable choice. It offers several other benefits, including market analysis tools, investment news, and portfolio history, all in one place. You can access both platforms by setting up its Handy Trader Android mobile app. See more here.

Zacks Trade: Is it trustworthy?

Personal Finance Insider rates trustworthiness by reviewing each company’s Better Business Bureau profile. Ratings generally reflect the bureau’s opinion of how companies interact with their customers.

Although Zacks Trade does not currently have a BBB profile, its record is generally free of major lawsuits or scandals. Nevertheless, it is still crucial to carefully consider each investment platform you are considering before making a final decision.

Zacks Trade — Frequently Asked Questions (FAQ)

Is Zacks Trade legit?

Yes. You can trace the history of Zacks Trade back to 1978. The company is currently a division of LBMZ Securities, which in turn is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Is Zacks a brokerage firm?

Yes. Zacks Trade offers online brokerage services and allows investments in stocks, ETFs, options, mutual funds and bonds. Zacks Trade also uses Interactive Brokers as its clearing house, meaning Interactive Brokers handles both client orders and the custody of client assets.

Are Zacks Trade and Interactive Brokers the same?

No. Zacks Trade and Interactive Brokers are two different brokerages. However, Interactive Brokers operates as Zacks Trade’s clearing house.

Leave a Comment

Your email address will not be published.