Zacks Trade review
Research resources are plentiful, but commission fees may diminish profits.
finder.com’s rating: 4.3 / 5.0
Zacks Trade allows you to trade stocks, bonds, mutual funds and more from your desktop, tablet or mobile device. It offers a variety of account options and access to international exchanges. But you need at least $2,500 to open an account.
- Consider Zacks Trade if you’re an active investor looking to swap international stocks.
- Look elsewhere if you’re seeking portfolio management or robo-advising.
Minimum deposit to open
|Intro or bonus offer||Trade stocks, options and ETFs for as low as $1 per order for a year when you open a new account by December 31, 2019, and fund it with $2,500 or more within 60 days.|
|Available asset types||Stocks|
|Government bond trade fee||$3|
|Corporate bond trade fee||$3|
|Option trade fee||$3 + $0.75/contract|
|Mutual fund trade fee||$27.50|
|Account transfer fee||$0|
What's in this guide?
- What investments does Zacks Trade offer?
- Who is Zacks Trade best for?
- How easy is it to use?
- Pricing and fees
- Is Zacks Trade safe?
- Customer reviews and complaints
- Pros and cons
- How do I sign up?
- How do I contact Zacks Trade support?
- Compare with other stock trading platforms
- Bottom line
- Frequently asked questions
What investments does Zacks Trade offer?
Zacks Trades offers a comprehensive range of securities for investors:
- Stocks and ETFs. Trade stocks and ETFs from US and international exchanges at $0.01 per share with a $1 minimum.
- Bonds. Purchase government and corporate bonds with commissions that start at 0.025% plus $3.
- Options. Your first options contract will cost $1, with all additional contracts priced at $0.75.
- Mutual funds. Invest in mutuals funds with commissions set at $27.50 per fund.
Who is Zacks Trade best for?
Zacks Trade, powered by its parent company Zacks Investment Research, empowers a variety of traders to pursue their investment goals:
- Retirement investors. Professional tools, expert analysis on earnings estimates and a variety of retirement accounts allow long-term investors to make informed decisions.
- International investors. Zacks Trade offers access to 91 international stock exchanges in 19 countries.
- Day traders. Multiple platforms and research tools allow day traders to work from home, at the office or on the go.
Active investors will find plenty to celebrate on Zacks Trade, with penny shares, options trading and access to international stock exchanges in 19 countries. And for those seeking a little extra guidance, Zacks Trade offers broker-assisted trades for free — a service that comes with a surcharge on many competing platforms.
What platforms are available?
There are four Zacks Trade platforms available, accessible by desktop, tablet or mobile device:
- Client Portal. Through the Client Portal, traders can review account balances, initiate simple trades, make account deposits and withdrawals and adjust their account settings.
- Zacks Trader. This web-based platform is less robust than Zacks Trade Pro, but offers interactive charts, market data, orders and executions, custom strategies and news feeds from Reuters News.
- Zacks Trade Pro. This feature-rich desktop platform lets you execute trades, create watch lists, view portfolio data, set real-time alerts, access charting tools and more.
- Handy Trader. Zacks Trade’s mobile app, Handy Trader, is available for Android and iOS devices and offers order management, trade execution, portfolio monitoring and research data.
How easy is it to use?
Whether you opt to sign up on the platform’s website or mobile app, the application process only takes a few minutes. After you submit some basic personal information, your residential address and your Social Security number or tax ID number, all you need to do is fund your account.
The platform’s ease of use depends largely on which platform you’re on. Zacks Trade Pro offers a comprehensive suite of trading tools, equipped with a customizable interface, scalable charts and over 120 technical indicators. But new traders may find this platform overwhelming — and that’s where Zacks Trader steps in.
Zacks Trader operates as a web-based platform, offering the core elements of the Pro version through a less cluttered interface.
As for the mobile app, Zacks traders report that the app is functional but lacks push alerts for orders and incoming deposits.
What research does it provide?
Zacks Trade offers its investors access to 23 free research subscriptions through IBIS, a news and fundamentals research platform add-on. Free research and news services include:
- 24/7 Wall Street
- Alexandria Contextual Text AnalyticsTM Engine (ACTATM) news sentiment scores
- AltaVista Research ETF Tear Sheet Pro plus ETF Hedge and Alternative Finders
- Briefing.com General Market Columns and Analyst Actions
- Dow Jones North American Briefing and Tomorrow’s News Today newsletters
- Event Shares
- IB Market Signals
- IB Traders’ Insight
- Market Realist
- Morningstar Equity Ownership and Short Interest
- RedSky Newsfeed
- Seeking Alpha
- Social Sentiment
- StreetInsider.com Top News and Analyst Actions
- The Motley Fool
- Thomson Reuters
- Zacks Investment Research
And for traders who want to bump up their research options, the platform offers an additional 80 research subscription resources for a fee.
What charting and analysis tools are available?
Zacks Trade has a number of 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.
Pricing and fees
Zacks Trade’s commission fees put it at a disadvantage — most of its competitors have ditched their commissions, including Robinhood, Ally Invest and Webull. Zacks Trade’s $2,500 account minimum is also rather steep, with many competitors offering investors the opportunity to start trading with any amount.
But there is one service Zacks Trade offers for free that many of its competitors charge for: broker-assisted trades. Most major players in the industry charge at least $25 per broker-assisted trade, but Zacks Trade offers this service for free — a practical perk for those new to trading and seeking guidance.
|Minimum deposit to open||$2,500|
|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|
|Account transfer fee||$0|
Zacks Trade also offers access to foreign stock exchanges.
Is Zacks Trade safe?
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 is an accredited business with the Better Business Bureau (BBB) and has no complaints lodged against it on the Consumer Financial Protection Bureau (CFPB). All Zacks Trade investment accounts are offered by LBMZ Securities, a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
How does Zacks Trade keep my money safe?
Zacks Trade accounts are protected by the Securities Investor Protection Corporation (SIPC) for up to $500,000, including up to $250,000 in cash balances. Accounts are also protected by its clearing firm’s excess SIPC policy with underwriters at Lloyd’s of London for up to an additional $30 million, including up to $900,000 in cash balances, subject to an aggregate limit of $150 million.
Zacks Trade uses 128-bit SSL (Secure Socket Layer) encryption to protect sensitive trader data. Account access is restricted to specific IP addresses and automatic logoff protocols and failed login attempt restrictions help prevent others from gaining access to your account.
All Zacks Trade investors also receive a security code device that generates unique login codes that must be used for each login attempt.
Customer reviews and complaints
Zacks Trade feedback is far from plentiful and its small handful of reviews offer mixed feedback.
On Trustpilot, Zacks Trade holds a TrustScore of 3.9 out of 5 based on four reviews. The two complaints cite a frustrating signup process and difficulty accessing the account of a deceased account holder. The positive feedback praises the platform’s ease of use and attentive customer service.
While Zacks Trade doesn’t have its own BBB page, its parent company, Zacks Investment Research, does. As of April 2020, Zacks Investment Research holds an A+ BBB rating alongside an official accreditation which it earned in 2012. Zacks Trade has no complaints on the CFPB and Reddit chatter is mostly focused on the research offerings of its parent company.
Pros and cons
- Wide selection of securities. Gain access to a wide range of stocks, ETFs, mutual funds and more.
- Multiple platforms. Make trades from your computer, tablet or mobile phone.
- Account options. Open an individual, joint or retirement account, a trust fund, multiple funds and more.
- Global markets. Zacks Trade allows clients from over 200 countries to trade on 91 exchanges, all from a single account.
- Research options. Investors gain access to 23 free research subscriptions and comprehensive charting and analysis tools.
- Customizable workspace. For more advanced traders, Zacks Trade Pro can be customized to show different tools, data, indicators and more.
- Free broker-assisted trades. While many of its competitors charge for the service, Zacks Trade offers free broker-assisted trades.
- Commissions. Unlike many of its competitors, Zacks Trade charges commissions on many of its securities.
- Minimum balance. To use Zacks Trade, you’ll need to open an account with at least $2,500.
- Mutual fund fees. If you want to use Zacks Trade for buying or selling mutual funds, you’ll be charged $27.50 per transaction.
How do I sign up?
To start trading, you can sign up online or through the mobile app.
- Visit the Zacks Trade website.
- Click Open an Account.
- Enter your first and last name, email and phone number. Click Submit.
- Choose the type of account you’re interested in opening and click Continue.
- Enter your email address, then choose a username and password.
- Verify your email, then log in to your account to set up and fund your portfolio.
- Visit your phone’s app store and download the Zacks mobile app.
- Click Sign up and proceed through each step as you would on the desktop application.
- Verify your account and log in to set up and fund your portfolio.
How do I contact Zacks Trade support?
There are three ways to get in touch with the Zacks Trade support team:
- Phone. Call 888-979-2257 weekdays from 9 a.m. to 6 p.m. ET.
- Email. Send inquiries to email@example.com.
- Live chat. Speak with a member of the support team weekdays from 9 a.m. to 6 p.m. ET.
Compare with other stock trading platforms
Zacks Trade offers a selection of four trading platforms with sophisticated charting tools and free and premium research resources to help you stay on top of market trends. But you’ll need at least $2,500 to open an account and commission fees may dig into profits.
If you’re not sure Zacks Trade is for you, compare your options to find an online trading platform that suits your needs.
Frequently asked questions
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.