Zacks Trade Review & Rating 2024

Is Zacks Trade a safe platform? Zacks Trade, a subsidiary of Zacks Investment Research, is a leading online stock brokerage that offers its clients the opportunity to trade stocks and ETFS, options, mutual funds, and margin trading.  Their client's assets are held with the Interactive Brokers clearing firm.

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Zacks Trade has been around since 1978 and has grown to become one of the most trusted names in the industry.

Zacks Trade has a team of over 1,000 professionals that work behind the scenes to provide their clients with reliable data and research tools.

Zacks Trade's mission is to provide its customers with an easy way to trade stocks online while being able to manage their risk effectively. In this Zacks Trade broker review, you will dig deep to give you all the necessary information so that you can make your broker choice. AtoZ Markets is in no way responsible for any Zacks Trade opinions or information provided by the writer.

How to open an account with Zacks Trade

You can open an account with Zacks Trade from their website. It's fully online but a lengthy and complex process. It may take up to one week to get your account verified and approved for trading.

There are some steps to open an account with Zacks Trade:

image source: Zacks Trade

• You have to enter your name, email and phone number.
• Then you get options to select the account type you want to open.
• They will send you a confirmation email. You have to confirm your email address.
• In the next step, you have to put more personal details like location, address and phone number.
• You also need to tell them about your employment status and income details.
• After that you have to choose security questions and their answers.
• Next you have to give your trading goals and experiences.
• In the next step, you are required to upload proof of identification and residency documents (these include copies of a passport, driver's license, residency permit, utility bills or national IDs).
• In the final step, you have to agree to disclosures and permissions documents and submit the application for verification.

Zacks Trade Review: Account Types

Zacks Trade offers a lot of account types for different purposes. It has the following types of accounts.

• Individual, Joint, Retirement, Custodian, Trust
• Hedge Fund, Mutual Fund, Fund Manager or Similar Investment Vehicle
• SICAV Fund or Similar Investment Vehicle
• Financial Advisor
• Institution (Partnership, Corporation, Limited Liability Corporation, and Unincorporated Business)

Margin Trading and Rates

In a nod to speculative traders, Zacks Trade allows margin accounts — lines of credit against which account holders can borrow to fund trading activities rather than use their own funds.

Margin trading is a high-risk, high-reward activity that's appropriate only for sophisticated investors. Even more so than cash trading, margin trading carries a significant risk of principal loss.

Zacks Trade's margin program has four pricing tiers, with interest charges falling as account size grows. The lowest tier (highest margin rates) covers accounts of up to $100,000. The highest (lowest margin rates) is reserved for accounts larger than $3 million.

Zacks Trade's Tradable Securities

Zacks Trades offers the following securities for trading to 19 countries. 192 countries' people can access these assets.

• Stocks.
• Fractional shares.
• Bonds.
• Mutual funds.
• ETFs.
• Options.

Zacks Trade Pros and Cons

Cons

√ Free withdrawal

√ No deposit fee

√ Zacks Trade offers free broker-assisted trades

√ Several account base currencies

√ Trade mutual funds

√ Margin trading available

√ They have a lot of features and tools that can help you make the most out of your investment experience.

√ Low stocks and ETF fees/Free stock trading.

√ They don't have any account inactivity fee.

Cons

× Fees are high.

× Zacks Trade Minimum deposit is $2500

× Non-dollar-denominated trades may incur flat currency conversion fees

× Very slow website

× Website is not user-friendly

× No Cryptos and Forex available for trading

Zacks Trade Minimum Deposit Requirements

Unlike many other investment platforms, Zacks Trade has some of the lowest trading fee schedules in the brokerage market.

United States Commissions

Minimums & Additional Fees

• Required Minimum is $250
• Account Inactivity Fee is None
• Access to All the trading platforms is free.
• Automated account transfer fee (both outgoing and incoming) is free
• Corporate actions are free.
• First Withdrawal of the month is free. Any subsequent withdrawal in the same month is $1 for an ACH, $4 for a check and $10 for a wire
• ETFs and stocks that trade for less than $1 per share go for 1 percent of the trade value.

Zacks Trade Platforms

For Zacks Trade platforms, Zacks Trade offers Zacks Trade Pro, Client Portal, and Handy Trader mobile trading platform.

Zacks Trade Pro

Zacks Trade Pro is the flagship trading platform for trading on Zacks Trade. Zacks This platform provides an extensive and effective trading platform that allows you to put all the necessary information available to you. Trade options, stocks, bonds, and money in more than 19 countries from one account. The greatest part is Zacks Trade Pro is free and open to all clients.

image source: Zacks Trade

Key Zacks Trade Pro Features

Create your own layout completely. Zacks Trade Pro is customizable and you can design your layout as simple or as advanced as you want.

Make multiple lists of watchlists to monitor any kind of security. Zacks Trade's Pro platform also lets you alter your data columns to show exactly how you want to display it.

Check balances on your account including margin, the amount of funds you can trade market value, portfolio, and balance information for all your securities.

Create alerts that are real-time and that are based on price margin, time, and volume to inform you of significant changes to the market.

View all completed and open orders. Zacks Trade Pro also allows customers to change or cancel your order swiftly through the window for order.

Charts on the Zacks Trade Pro trading platform are completely customizable. You can pick from over 120 indicators for technical analysis which are also customizable. Zacks Trade Pro also lets you trade directly on the charts.

Zacks Trade Pro trading platform has some robust research tools. Some of them are:

• Algos
• Probability Lab
• Basket Trader
• Rebalance Portfolio
• Market Scanners
• SpreadTrader
• Options Strategy Lab
• Volatility Lab

Zacks Trade Pro trading platform is best for Active, high-volume traders. It is also best for options trading. It's good for news, and technical analysis research tools as well.

Zacks Trade Pro trading platform is compatible with Windows, Mac and Linux. You can download whichever you need.

Client Portal

image source: Zacks Trade

Each of the Zacks Trade customers has access to their personal Client Portal trading platform to initiate simple trades. This console allows the creation and management of trades that are simple and access to account documents and balances, as well as control of the settings of your account as well as subscriptions and permissions.

From the Client Portal trading platform, you can do reporting, account configuration, funding, trading, portfolio analysing, and many more.

Handy Trader

Handy Trader is available for both Mobile and Tablets.

Zacks Trade's top-of-the-line Handy Trader provides access to your account through your phone. You can manage and enter orders, see executions, check your account balances and portfolio and more.

This trading platform offers access to a variety of functions regardless of wherever you are.

You can secure your account by using the Secure your account with Secure Login System. It allows you to log in to your account with either a physical device or with our digital security app (iOS or Android exclusively).

image source: Zacks Trade

It gives live streaming quotes in real-time and charts.

You can trade options, stocks, bonds, mutual funds across the globe.

You can see delayed market data for tickers that aren't subscribed.

Orders can be routed using Zacks Trade's SmartRouting technology. This is able to find the most affordable price and dynamically changes the route of all or part of your order for the best execution.

With it, you can access the Zacks Trade's fundamental data and read the same reports from independent analysts that you can access on your desktop applications.

It allows access quickly to trade reports, portfolios, and account details.

You can set price alerts using emails to notify you.

You can make or take a phone call and connect via Handy Trader without having to sign in again.

Is Zacks Trade legit?

Yes, Zacks Trade is legit as this broker is a subsidiary of Zacks Investment Research, a Chicago-based research and money management firm that provides institutional investors with quantitative models designed to predict stock prices for US companies. Today, Zacks Investment Research is the second-largest independent equity research firm in North America. Altogether, Zacks Companies has more than $5 billion in assets under management.

The platform is available to traders and investors in more than 200 countries worldwide, covering 91 stock exchanges in 19 countries.

Is Zacks Trade a Regulated Broker?

Is Zacks Trade legit? Zacks Trade is a division of LBMZ Securities. Brokerage products and services are offered through LBMZ Securities which is a Member of FINRA and SIPC. LBMZ Securities is a fully transparent broker with Interactive Brokers LLC, who offers execution and clearing services to its clients.

Brokerage products aren't FDIC insured. Not guaranteed and may lose value. The SIPC offers protection for brokerage accounts.

Zacks Trade Education and Research

Education

Is Zacks Trade good in terms of education? Here at Zacks Trade, you can learn in two ways which are Demo account and Platform tutorial videos.

To get the demo account, visit the tab 'Platforms', and then click Zacks Trading Pro. In the middle of the page, you will find an option to register for "Start Paper Trading" that will open an account with a demo feature for you.

Zacks Trade offers many tutorial videos for beginners and advanced traders. You can learn by watching them. Though the website is not easy to navigate. It's hard to find information.

Research

image source: Zacks Trade

You can access more than 20 research subscriptions for free, as well as over 80 premium trials that will aid you in identifying opportunities on the market. Some of the research subscriptions are as follows:

Dow Jones Newswires

Morningstar

Seeking Alpa

The Motley Fool

Thomson Reuters

Benzinga Professional and more.

Is Zacks Trade Safe?

Is Zacks Trade safe? Yes, it is. The accounts of Zacks Trade are served by an entity that is US-regulated. This is due to the fact that you are covered under the US investor protection program, which is run through the Securities Investor Protection Corporation (SIPC).

SIPC investor protection shields you from the loss of securities and cash when a broker fails to meet its obligations. The maximum amount that is covered by SIPC insurance is $500,000 includes a limit of $250,000 for cash. A non-US resident who has Zacks Trade is treated by the SIPC in the same way as a US resident in the event that there is a problem. The amount offered is considerably more than the amount covered by the majority of European investment protection plans. We've also mentioned that their client's assets are held with the Interactive Brokers clearing firm.

However, Zacks Trade does not offer protection against negative balances. If the balance of your account turns negative, you won't be covered.

Customer Support

Zacks Trade offers customer support to its clients. This includes email, phone, chat and social media.

Zacks Trade has a customer support team that consists of over 200 employees. The team has been able to grow by adding new employees due to their success in providing excellent customer service and keeping the costs low.

The main objective of the Zacks Trade customer support team is to answer all questions related to trading, investing and trading education. The team also aims at educating customers on how they can trade effectively through the use of Zacks Trade's research tools such as market news, research reports, and educational videos.

Also, Zacks Trade offers one-on-one coaching for traders who need assistance in their trades

The office hours of Zacks Trade are Monday - Friday from 9:00 AM - 6:00 PM EST excluding stock market holidays. Live Chat option is only available during office hours. In the off hour, you can email them

Conclusion

Zacks Trade is a leading online trading platform that offers investors stocks and ETFs trading, and also an opportunity to buy and sell options, mutual funds, and more. Zacks Trade offers a suite of research tools such as Zacks Rank that help traders make better decisions. Unlike most brokers, Zacks Trade doesn't charge extra for broker-assisted trades.

Considering the regulation and history, Zacks Trade is one of the best brokers for traders with big capital as the minimum deposit is $2500. Traders from most countries can have access to the Zacks Trade.