Zacks Trade review 2023

What you can trade on Zacks Trade

• Stocks
• ETFs
• Options
• Bonds
• Mutual funds
• Cryptocurrencies

Account types available with Zacks Trade

• Individual
• Joint
• Retirement
• Custodian
• Trust
• Financial advisor
• Institution

Where Zacks Trade shines

Zacks Trade offers the full investment package: you can choose a variety of account types, a variety of advanced trading platforms and you can trade almost any asset class including crypto. On top of that, you get to use broker assisted trades without additional cost. Most brokers charge a fee for this feature.

Another cool feature is the vast research library where you get access to more than 20 free subscriptions and 80 premium trials, such as Morningstar, Seeking Alpha, Thomson Reuters and more. This alone saves you hundreds of dollars of research subscriptions each year. And if you want to trade stocks in other countries — access 91 global stock exchanges.

Where Zacks Trade falls short

Zacks Trade has a minimum account requirements of $2,500, making it a poor choice for beginners who want to try their luck or learn how to trade. Also, beginners may find Zacks Trade platforms overwhelming. The stocks fee of $0.01 per share with a $1 minimum can quickly add up, making it a hard sell for some day traders as well. Those who want to diversify into cryptocurrencies may find the limited number of coins offered to be a huge drawback. Trading crypto also comes with fees.

Zacks Trade’s fees

Minimum deposit to open	$2,500
Annual fee	$0
Stocks and ETFs — greater than $1 per share	$0.01 per share, $1 minimum
Stocks and ETFs — less than $1 per share	1% of trade value, $1 minimum
Options	$1 for first contract $0.75 per additional contract
Mutual funds	$27.50 per fund
Government bond — up to $1 million face value	0.025% of face value + $3 per bond
Government bond — remaining face value	0.005% of face value + $3 per bond
Corporate bond — up to $10,000 face value	0.1% of face value + $3 per bond
Corporate bond — remaining face value	0.025% of face value + $3 per bond
Broker-assisted trades	$0
Account transfer fee	$0

Is Zacks Trade legit?

Yes. Zacks Trade was established in 2014 by the same founder as North America’s second-largest equity research firm, Zacks Investment Research (ZIR). While ZIR is a separate company, Zacks Trade users get access to its market insights and research tools.

Zacks Trade’s platform may feel overwhelming to beginner investors

Zacks Trade offers multiple platforms to choose from, including a desktop platform and a mobile app. The desktop platforms comes with features such as advanced charting tools and indicators, it lets you create watchlists, view portfolio data, set real-time alerts and more.

Zacks Trade’s desktop tools

Zacks Trade has many practical tools to offer. In addition to over 120 technical chart indicators and chart-enabled trade executions, Zacks Trade Pro investors gain access to:

• Algorithms. Implement algorithms by arrival price, percentage of volume strategy, time-weighted average price and volume-weighted average price.
• Basket trader. Import baskets of stock orders and execute trades.
• Market scanners. Filter and screen stocks, bonds, mutual funds and options by set parameters.
• Options strategy lab. View options strategies based on price and volatility forecast.
• Probability lab. Explore options probability and adjust your strategy based on the forecast.
• Volatility lab. Take a look at past and future readings with Zacks Trade’s volatility tools.
• Rebalance portfolio. Adjust your portfolio based on your risk tolerance and investment goals.
• SpreadTrader. Close or reverse spread positions on options orders.

Zacks Trade’s app

Zacks Trade mobile app is basically Interactive Brokers underneath. This means you get a high-quality trading app, but it may be feel too complex for beginners. Via the app you can place trades, set watchlists, scan for assets based on parameters that you set, make deposits and withdrawals, use some of the research tools and more. All this can make the app your primary trading tool removing the need for the desktop or the web-based trading platforms.

Zacks Trade’s app store reviews

Google Play app reviews	3.6/5 stars, over 10k downloads
Apple App Store app reviews	2.6/5 stars based on 11 ratings

Zacks Trade’s customer support

Get in touch with the Zacks Trade support team by:

• Email support
• Phone
• Online chat

How to open an account with Zacks Trade

1. Click the “Sign up now” button below and click “Open an Account”.
2. Enter your full name, email and phone number.
3. Select what kind of account you whish to open and fill out the requested information.
4. Deposit funds to begin trading.

Eligibility and required information

• At least 18 years old
• Valid phone number and residential and email address
• A citizen or resident of an acceptable country, including the US and Canada.
• Existing bank to fund your account
• Valid Social Security number

Sign up now

How safe is Zacks Trade?

All Zacks Trade investment accounts are offered by LBMZ Securities, a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corp (SIPC), which means your account is protected up to $500,000, including up to $250,000 in cash balances. Also, Zacks Trade has no complaints lodged against it on the Consumer Financial Protection Bureau (CFPB).

Compare Zacks Trade to other platforms

Frequently asked questions about Zacks Trade

• Can you trade on Zacks?

  Yes, you can trade stocks, ETFs, options, bonds, mutual funds and cryptocurrencies.

• Is Zacks good for trading?

  Yes, Zacks Trade offers one of the best trading platforms you can get.

• Who is Zacks owned by?

  Zacks trade is a division of LBMZ Securities Inc.