Overall ZACKSTrade is considered low-risk with a high overall rating of 7 out of 10. ZACKSTrade is authorized and regulated by FINRA and offers one Standard trading account. ZACKSTrade does not offer any leverage.
ZACKSTrade at a Glance
| 🔎 Broker's Name | ZACKSTrade |
| 📍 Headquartered | United States |
| 📅 Year Founded | 1978 |
| ⚖️ Regulating Authorities | FINRA |
| 🌐 Countries not accepted for trade | Not indicated – over 200 countries accepted |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | No – broker-assisted trading |
| 📈 Maximum Leverage | None |
| 💰 Minimum Deposit | $ 2,000 / R 34 355,10 |
| 💳 Deposit Options | Bank Wire Transfer, Cheque, and ACH |
| 💳 Withdrawal Options | Bank Wire Transfer, Cheque, and ACH |
| 💻 Platform Types | Zacks Trade Pro, Client Portal, Zacks Trader, and Zacks Trade mobile trading platform. |
| 📱 OS Compatibility | Desktop, Web, Mobile |
| 📈 Tradable assets offered | Stocks, ETFs, Options, Mutual Funds, Corporate Bonds, and Government Bonds. |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 2000
Regulators
FINRA
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our ZACKSTrade review below.
ZACKSTrade Review – 22 key points quick overview:
ZACKSTrade Overview
According to research in South Africa, Zacks Trade is a US-based broker which has been in operation since 1978 in offering trading services to self-directed traders and investors from around the world.
The Zacks Group of companies collectively manages more than $5 billion in assets and despite the level of experience of traders and investors, all receive access to the same innovative trading tools, research, and customer support.
ZACKSTrade Safe or Scam
When choosing a Forex broker, it is imperative to consider the factors revolving around regulation and the safety of client funds.
The products and services supplied by Zacks Trade as a broker are offered by LBMZ Securities which is a member of FINRA and SIPC in the United States.
Client funds are not only protected but eligible clients have access to compensation in the event that Zacks Trade is unable to fulfill its financial obligation. Protection from the SIPC is limited to $500,000 with an additional limit of $250,000 for cash.
ZACKSTrade Leverage
Leverage is a tool that is offered by brokers to traders to allow them to open much larger positions despite the initial deposit that they made. However useful this may be, it has an equal opportunity to attract risks that may lead to substantial losses.
Zacks Trade does not offer any leverage.
ZACKSTrade Accounts
Zacks Trade offers a standard account that provides traders with access to all platforms and financial instruments which are offered.
Standard Account
| 🌐 Standard Account trading account | |
| 📈 Maximum Leverage | None |
| 💰 Minimum Deposit Cash Account | $2,500 |
| 💰 Minimum Deposit Margin Account | $ 2,000 |
| 📈 Maximum Leverage | None |
Min Deposit
USD 2000
Regulators
FINRA
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
ZACKSTrade Market instruments
The most popular market instruments available from most brokers for trading include:
Forex
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodities
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management.
Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a set of the largest companies in a nation.
Precious metals
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.
Zacks Trade offers Stocks, ETFs, Options, Mutual Funds, Corporate Bonds, and Government Bonds.
ZACKSTrade Fees
When evaluating a broker, it is imperative to look at the fees which are charged. These often depend on numerous factors including the spread, commissions, and margin requirements.
The spread is the difference between the bid and the asking price, which is expressed in pips, which is the smallest increment that a price can move either up or down.
A margin requirement is the amount of capital that the trader has to put down at the start of the trade, or that they have to have available in their trading account, as collateral for the trade. This amount is often lowered substantially when leverage is applied.
Commissions are charged on certain instruments, often when traders are offered with variable or floating spreads, as the percentage charged counts towards the broker’s fee for their services. Brokers who are Market Makers, or who offer fixed spreads, often offer commission-free trading.
When registering for an account, traders are required to pay a $2,500 minimum deposit requirement for a cash account. When opening a margin account, the minimum deposit is $ 2,000 / R 34 355,10.
In addition, Zacks Trade has margin rates according to the trading account balance. These are tiered from 1 to 4 where Tier 1 with an account balance up to $100k involves a 3.59% rate charged and Tier 4 with an account balance of more than $3 million incurs a rate of 2.75%.
Where commissions are concerned, Zacks Trade charges commissions based on the financial instrument. The commission fees charged can be broken down as follows:
Stocks and ETFs greater than $1 per share – $0.01 commission per share.
Stocks and ETFs less than $1 per share – 1% of trade value.
Options – $1 for the First Contract and $0.75 per contract thereafter.
Mutual Fun Trades greater than $1 per share – $27.50.
Corporate Bonds up to 10,000 Face Value is 0.1% Face Value and $3 per bond. The remaining face value is $0.025% Face Value and $3 per bond.
Government Bonds up to $1 million Face Value is 0.025% Face Value and $3 per bond with the remaining Face Value at 0.005% Face Value and $3 per bond.
Traders should take note that fees are charged on Foreign Stocks applicable to North America, Europe, Asia, and Australia.
Zacks Trade does not waive any inactivity fees or fees pertaining to access to platforms. Automated Customer Account Transfers are done free of charge in addition to corporate actions and order cancellations.
There is also no IRA Custodial fees charged, but, there are currency conversion fees applied for any currency converted into USD. This fee is between $2 to $2.50.
In addition, Zacks Trade offers one free withdrawal in each calendar month. Once this has been used, there will be a fee of $1 for ACH, $4 for cheques, and $10 for bank wire transfers.
ZACKSTrade Deposit and withdrawal
When evaluating brokers, the ease with which deposits and withdrawals can be made is another imperative factor to consider.
Regulation plays a key part where client funds are concerned as funds that are kept in segregated accounts must be available for withdrawal at any given time when a request is made by the trader and subsequent owner of the trading account.
Zacks Trade only offers the following funding methods:
Bank Wire Transfer
Cheque
ACH
ZACKSTrade Trading platforms
A trading platform is a type of software that is used through which trading can be executed. Each broker has its own preference in which platforms it supports and often brokers offer the use of their own proprietary trading platforms.
Zacks Trade offers the use of the following proprietary trading platforms:
Zacks Trade Pro
Client Portal
Zacks Trader
Zacks Trade mobile trading platform
How to open a ZACKSTrade account step by step
Opening a demo account with ZACKSTrade is a relatively simple process, which will consist of the following steps:
Step 1 – Open Your Account
Visit the ZACKSTrade website, Click on “Open an Account” in the middle of the website
Step 2 – Fill out the form
- You will be prompted to select your Name, Last Name, and phone number.
- Once you have read and accepted the terms and conditions, you can submit your registration form
Step 3 –Submit your Registration
- Once you have accepted the clicked on Continue
- You will receive a link to your account via email
Min Deposit
USD 2000
Regulators
FINRA
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
ZACKSTrade Customer support
Customer support is available from Monday to Friday, 09:00 AM to 6:00 PM ET with exceptions to exchange holidays. They can be contacted through the Live Chat option on the site, or traders can use the telephone numbers or email addresses provided.
ZACKSTrade Education
Zacks Trade does not offer any educational materials, tools, or resources.
ZACKSTrade Research
Zacks Trade offers a wide variety of powerful trading tools and can be used for an array of applications such as advanced charting, efficient trading, market analysis, and more.
Some of the tools offered include, but are not limited to:
Algos
Probability Lab
Basket Trader
Rebalance Portfolio
Market Scanners
SpreadTrader and more
In addition, traders are also offered a collection of research and market analysis which can help traders refine their trading. There are more than 20 free research subscriptions in addition to 80 premium trials. Some of these include:
Dow Jones
Morningstar
Seeking Alpha
The Motley Fool and more
ZACKSTrade Awards
Zacks Trade has obtained a substantial amount of positive reviews from Industry leading sites such as Benzinga, Brokerage-review.com, NerdWallet, and more.
There is, however, no record of any awards that have been obtained by Zacks Trade in recent years.
ZACKSTrade Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “ZACKSTrade” is entered into Google’s search engine over a given period of time.
ZACKSTrade vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇ZACKSTrade | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | $ 2,000 / R 34 355,10 | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | None | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
ZACKSTrade Best Countries by Traders
| 🌎 Country of Trade | 📌 % of Traders |
| 🥇United States | 24.40% |
| 🥈Venezuela | 13.71% |
| 🥉Belgium | 9.98% |
| 🥈Malaysia | 7.50% |
| 🥇Brazil | 5.47% |
ZACKSTrade Customer Reviews
Are we talking about zacks.com here?
If so, then Zacks
Is NOT an investor site for buying and selling shares.
It is a site where you get solid and good recommendations for buying shares or recommendations for selling shares you have already invested in.
So if someone misses money that they claim Zacks will not pay/have cheated them for, then they are referring to the wrong company.
You can NOT deposit money at zacks.com. This is a site you subscribe to get stock tips!
And nothing more!
Outstanding customer service and fee…
Outstanding customer service and fee structure if you’re a buy-and-hold long-term international investor. Full access to global equities, ETFs, and mutual funds via the Interactive Brokers platform.
Zackstrade is the best trading…
Zackstrade is the best trading platform. Ease of usage and low fees.
ZACKSTrade Pro and cons
| ✔️ Pros | ❌ Cons |
| Regulated by FINRA | A high minimum deposit required |
| Member of SIPC | There is no support for Forex, futures, or commodities |
| Premium research tools offered | Limited education |
| Flexible trading platforms offered | MetaTrader not offered |
| Competitive trading conditions | Leverage not offered |
| Funding options are limited |
Conclusion
Overall, ZACKSTrade is a trustworthy and reliable broker that provides traders with ample digital tools. ZACKSTrade offers the use of four proprietary trading platforms. ZACKSTrade is regulated by FINRA
Disclaimer
Zacks Trade warns potential customers that Forex and CFDs trading carries a high risk and may not be suitable for all investors.
Before deciding to trade with Zacks Trade, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
Zacks Trade warns that margin trading involves the potential for profit as well as the risk of loss.
Movements in the price of foreign exchange and commodities are very unpredictable, hence Zacks Trade cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
ZACKSTrade Risk Management
ZacksTrade is an online brokerage firm that provides trading services for various financial products, including stocks, bonds, options, and mutual funds.
In terms of risk management, ZacksTrade offers the following features:
- Limit Orders: A tool to set a maximum or minimum price at which you are willing to buy or sell a security.
- Stop Loss Orders: A tool to automatically close a trade when a certain price is reached to minimize losses.
- Options Trading: Allows traders to hedge their portfolios and manage risks through the use of options contracts.
- Research & Analysis: ZacksTrade provides extensive market research and analysis to help traders make informed investment decisions.
It is important to note that all investment carries risks, and it is up to the individual trader to properly manage their risks through the use of these tools and their own risk management strategy.
Frequently Asked Questions
Trading environment
How many instruments can I trade with Zacks Trade?
You can trade the following:
- Stocks
- ETFs
- Options
- Mutual Funds
- Corporate Bonds, and
- Government Bonds
Which platforms are supported by Zacks Trade?
Zacks Trade Pro
Client Portal
Zacks Trader, and
Zacks Trade mobile trading platform
Does Zacks Trade offer leverage?
No. Zacks Trade does not offer leverage
What spreads can I expect with Zacks Trade?
There are no spreads charged, only commissions.
What is the overall rating out of 10 for Zacks Trade?
7/10.
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