Zacks Trade

Zacks Trade has their main headquarters in Chicago, USA. Since their opening in 1978, they have been among the first to adopt new technologies that facilitate the trading process and also attract customers located outside of the United States. As an example, the Zacks Trade app that currently exists was among the first ones created when smartphones became widespread.

During the 2000s, they were acquired by LBMZ Securities. The latter and all its subsidiaries are properly certified by the FINRA and SIPC. They are the main entities that monitor brokers in the United States. For this reason, it is immediately possible to assure that the operations of this platform are legit.

It is also worth noting that Zacks Trade is a sister company to Interactive Brokers. The former is considered as the more introductory platform for new investors, while the latter is normally used by the more seasoned ones. For this reason, those who know how to use one of these platforms will be able to use the other without any kind of issue.

Needless to say, the fact that Zacks Trade is seen as an introductory company, doesn’t mean that it can’t be used by more seasoned investors.

The highs of Zacks Trade

There are many aspects that are positive about Zacks Trade. For example, all customers have access to an agent by phone. In other words, investors who for some reason are unable to use a computer or a mobile device at any moment, can call their agents and ask them to make the movements they want. Also, all these phone calls that are made in order to make movements inside an account are absolutely free.

Zacks Trade is also a company with a global reach. From their headquarters in Chicago, and their branches located in different places around the world, users from almost any country can sign up. Also, those who decide to give this broker a chance will get access to approximately 100 different exchanges. This is quite a generous offering of opportunities when compared to the rest of the market.

The lows

Of course, no company is perfect. For this reason, those who are looking for a broker and have found Zacks Trade might ask themselves what is wrong with Zacks Trade, so let’s try to answer that.

One of the main complaints presented by many customers is related to the commissions. There are plenty of brokers out there where investors can make all their movements without directly paying anything for them. Unfortunately, this is not the case for Zacks Trade, as all customers are charged a commission for making any kind of movement in the platform.

Also, having a Zacks Trade promo code might have made this platform even more attractive, especially for newcomers. However, such a thing is not available here.

Mutual funds are another investing option available at Zacks Trade and at hundreds of other brokers. However, the offering of Zacks Trade in this regard falls short when compared to its main competitors.

Also, while most brokers don’t charge any commission for investing in mutual funds, Zacks Trade still does so. Furthermore, any investment in mutual funds through this entity must be of at least $100. By contrast, there are many other brokers out there that offer their users the chance to invest in mutual funds for lower amounts. It is also important to mention that this broker has a flat fee of mutual funds transactions that equals $27,50, no matter the size of the Zacks Trade deal being made.

Who can benefit from the services of Zacks Trade

Despite the aspects where Zacks Trade falls short that were mentioned, the company still has a healthy customer base. People who invest here can be split into four main groups. The first of them are active traders. These kinds of investors are people who make lots of movements and investments on a frequent basis, meaning they need a platform that is easy to operate and accessible from many places.

The human factor can’t be overstated. This is where the second main group of customers comes in. As said before, an advantage of Zacks Trade is that brokers can contact a human agent via phone call to make transactions for them for free. Many people have been attracted to this platform for this very reason.

The third main group of customers from this platform are those who want to get access to foreign stock exchanges. As said before, there are approximately 100 markets available from this platform. This is quite a generous offer that many people have learned how to take advantage of.

Options traders are the final main group of those who registered at Zacks Trade. The options investments available at this platform can be quite profitable. This means that those who want to invest in options, might want to give this platform a try.

What you should know about Zacks Trade

Let’s now discuss a few things that any person wanting to set up an account here should know. To begin, the Zacks Trade minimum deposit that must be made in order to get access to the platform equals $2,500. This is a bit of a disadvantage of this trading platform when compared to its main competitors. Some of them even offer their customers the possibility to get started without a set minimum amount.

The cost of trading stocks is another fundamental piece of information that should be known. Normally, each share has a fee of one cent. However, the minimum commission that can be paid is $1. Also, when investing in ETFs, the commission corresponds to 1% of the trade value, with a minimum of $1 as well. This is a bit better than what the industry average can offer.

Others might ask themselves how much does zacks option trade cost, in this regard, it can be said that the fee for signing the first contract equals $1, while any additional contract will have a cost of 75 cents.

Inactivity is a thing where Zacks Trade offers more favorable terms than its most direct competitors. Normally, those whose balances are equal or less than $25,000 must pay an inactivity fee of $15 per month, which is far lower than the industry average. Also, those who have even higher balances don’t have any kind Zacks Trade fees for inactivity, which is another point to highlight.

Now, let’s discuss what types of securities can be traded here. There are plenty of options for a wide array of different inventors. The alternatives include things like stocks, options, ETFs, fractional shares, bonds, foreign stocks and mutual funds.

The trading platform itself is quite intuitive and easy to use. Newcomers will get access to the standard platform, which is a web-based portal. Those who opt for the pro membership will get access to Zacks Trade Pro. This includes a software that can be installed in Windows and Mac computers, and among its advantages include extra investing tools and even the possibility to customize the interface.

There is also a Client Portal available for all members. Here some simple transactions can be made, while users also have access to their profile, as well as balances and relevant documents.

There is also a great Zacks Trade mobile application for those who want to get access to their accounts and make all sorts of transactions on the go. Users of Android and iOS devices will be able to get access to the official mobile software of the platform for no additional cost. Yet, it is also worth mentioning that the research part, which is one of the highlights of this platform, is not available through the mobile app.

Those who want to get access to a solid research and data platform will most likely appreciate what Zacks Trade has to offer. In this regard, the portal has more than 20 different research subscriptions available for all their members. Also, all of them are absolutely free.

Another essential aspect to discuss is related to customer support. As it is usual with other brokers, representatives from Zacks Trade can be contacted through live chat, email and phone call. They are available between 9:00 to 18:00 Eastern Time in the United States. It is also important to mention that these are the same times at which brokers are available for conducting transactions through phone call.

Finally, there is no Zacks Trade .com referral, meaning that no discount or something will be awarded if taken here by someone else.