Zacks Trade Review: Pros, Cons, and Who Should Set up an Account

Requires minimum initial LimeFX of $2,500 – most competing brokers require no upfront LimeFX. Zacks Trade gives you the ability to use broker-assisted trades, a unique feature. As noted above, under Fees & Pricing, there is no additional cost when you trade using broker assistance. To start trading, you can sign up online or through the mobile app.

zacks trade review

There is a 1% of trade value CAD charge for Canadian customers. ZacksTrade also requires a CAD$4.50 trade minimum for Canadian customers. One advantage to ZacksTrade is that it allows private bond trades.

Zacks Trade offers a uniquely customizable trading platform for desktop and mobile users. Customers automatically have access to the Client Portal, which clearly displays account balances and information, and allows placing trades. Zacks Trade charges a fee of $27.50 on all mutual fund transactions. The broker offers zero no-load, no-commission mutual funds — rare for a large broker. Members should be aware that LimeFX markets have inherent risks, and past performance does not assure future results.

While many other brokers charge upward of 10% interest on the first borrowed dollar, Zacks Trade charges less than half of that, and it typically beats the rates of many brokerages. That said, if you’re mostly interested in margin trading or investing in stocks, ETFs, and options trading, Zacks Trade has everything you need. Zacks Trade has a wealth of trading tools and in-depth free and premium research. However, it’s not always the most cost-effective broker for trading stocks, ETFs, and options. Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own.

How we ranked fees

International shares follow a slightly different pricing model. Instead of a flat dollar fee, you will instead pay a percentage of total amount you purchase or sell. This actually varies depending on the specific market you are looking to access.

  • Pro, as the name suggests, delivers some very advanced features.
  • You don’t have to be tied to your desk to get outstanding trading functionality.
  • As Zacks Trade provides a demo account and there’s no mandatory minimum deposit, feel free to try it.
  • You just need to fill in the account transfer reimbursement form and provide proof of the charge.
  • I found the commentaries on the market useful and accurate.

That’s because their chat lines and phone desks are only manned from Monday to Friday . So, you can imagine that those who live in the west only have a few hours of the day to be served. The company, for instance, has a quantitative stock-rating system. This differs from the rest in the sense that it’s purely mathematical.

Compare up to 4 providers

Options exercises are free at ZacksTrade, and there are no assignment fees. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

zacks trade review

If you should find yourself seduced at some future date by the thrill of market execution, you’ll know where to find it. Zacks Trade’s margin program has four pricing tiers, with interest charges falling as account size grows. The highest is reserved for accounts larger than $3 million. Government bond trades follow the corporate bonds’ pricing structure, but the percentage-based levy is even lower. Use the alerts feature to set custom alerts based on share price, volume, margin, price, and time.

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However at this point, we’re sure you realize there are much better programs out there that can help you make A LOT more money. You will be automatically logged out for safety after your account has been inactive for a certain period of time. They’ll email you directly if they find anything suspicious. If you believe like something on your account has been compromised, you can also contact their security staff. You will get another security code that creates a secure, unique number that must also be entered every time you log in.

  • It is suitable for traders who want to run the platform directly from their web browsers without needing to download and install additional software.
  • It’s pricier than brokers like Interactive Brokers, but its Pro Trade dashboard and extensive research offerings are selling points.
  • Most discount brokerages offer no assistance or charge for human help and advice.
  • To use Zacks Trade, you’ll need to open an account with at least $2,500.
  • In more recent years, though, many brokerages have begun to offer investors the ability to buy fractional shares.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You don’t have to be tied to your desk to get outstanding trading functionality. When you’re out and about, Handy Trader keeps you up to date with your Zacks Trade account.

What research tools does Zacks Trade offer investors?

Zacks is renowned for providing an interactive brokerage platform. They also provide quite a few premium features among them award-winning market reports. On top of that, they provide you with a dedicated broker along with the opportunity to have an expert help you make LimeFXs as you learn the ropes. Brokerage fees can be a huge stumbling block to any trader looking to get started.

Although it has no-minimum deposits on its easy-to-open accounts, you do have to pay a monthly fee depending on your account level. Moreover, Robinhood doesn’t offer mutual funds or bonds, but it’s a simple https://limefx.biz/ way to get into stocks and ETFs for new and experienced investors, alike. In summary, there really isn’t much not to like with Zacks Trade. The platform lists virtually every asset class imaginable.

You can trade stocks, options, bonds and funds in over 19 countries, all from a single account. The best part is Zacks Trade Pro is free and available to all clients. This platform is best for active, high-volume traders, options, news, and technical research and analysis tools. Zacks Trade’s 3 trading platforms include a wide array of trading tools and can be completely customized for active traders. Another advantage of Zacks Trade is phone access to a live human broker to enter trades and receive trade confirmations from. Zacks Trade has considerable resources for active traders and investors, including excellent research and trading platforms.

  • I found their fees to be very competitive when compared to other USA brokerages, starting from just $1 (1¢ per share) on stocks and ETF trades.
  • For options traders, an option chain displays the calls, puts, strike rates, and other information on pricing in one view.
  • In addition to the range of platforms Zacks Trade already offers, there is also a mobile app that is not only versatile but easy to use and available for both iOS and Android devices.
  • In terms of cashing out, you are entitled to one free withdrawal per month.

Zacks Trade’s desktop program displays margin requirements for every entered ticker symbol.

But the high account minimum and stock and ETF commissions aren’t competitive. A lack of account management fees and free broker-assisted trades are advantages. But Zacks Trade is one of the pricier brokers that caters to options and active traders. As mentioned, Zacks Trade charges trading fees on stocks and ETFs. You also pay various fees for options and other types of trades the platform supports.

This brokerage is right for you if:

Sending them money for an account that will never be activated. We have a proven record of recommending stocks with major upside potential. Our latest limefx forex broker report reveals 7 stocks predicted to have explosive gains over the next days…and in today’s market, these stocks could climb even higher.

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