Zacks Trade (ZacksTrade) Review 2026
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $2000
- Zacks Trader
- Zacks Trade Pro
- Handy Trader
- Tablet Trader
- Client Portal (Web)
- Up to 2:1 for overnight trades, up to 4:1 for day trading, up to 6:1 for Portfolio Margin
- Portfolio Margin is available, zero withdrawal fee on the first withdrawal of the month, residents of different countries can open investment accounts
Our Evaluation of Zacks Trade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Zacks Trade is a broker with higher-than-average risk and the TU Overall Score of 4.26 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Zacks Trade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Zacks Trade is a broker that offers its clients a wide selection of US stocks, funds, options and bonds, and also access to the foreign stock market.
How we tested Zacks Trade
Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Brief Look at Zacks Trade
Zacks Trade is a stock broker headquartered in Chicago. The company has been providing investment services and quality analytical research since 1978. It is a division of LBMZ Securities, for which Interactive Brokers provides clearing and execution services. Zacks Trade is regulated by FINRA (CRD#: 7874/SEC#: 8-23266) and SEC, and is a member of SIPC. The broker offers its clients access to trading securities of the USA, Europe and Asia using proprietary platforms with powerful analysis instruments.
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- The list of countries, the residents of which can open an account, includes 218 states.
- Wide selection of shares of international markets and quoted at the US stock exchanges.
- Reliable regulation by highly respected regulation authorities FINRA and SEC.
- No account service, inactivity or deposit fees.
- Fully digitalized account opening procedure.
- Over 20 base currencies.
- Access to subscription to professional instruments of research from third party providers and specialists of the broker’s own analytical department Zacks Investment Research.
- At the moment, the broker’s clients cannot trade cryptocurrencies, futures, commodities and Forex instruments. Only shares are available from the securities of foreign exchanges.
- IRA accounts are available only for US tax residents.
- Funds cannot be deposited to the account using debit/credit cards. Also withdrawals to debit/credit cards are not available.
TU Expert Verdict
Chief Analytics Officer
Zacks Trade is a stock broker offering trading in U.S. stocks, ETFs, options, bonds, mutual funds, and access to select international stocks through proprietary platforms, including Zacks Trader and Zacks Trade Pro, as well as Handy Trader for mobile devices. Regulated by FINRA and the SEC, and a member of SIPC, Zacks Trade provides margin trading with leverage up to 2:1 for overnight positions, up to 4:1 for day trades, and up to 6:1 with a Portfolio Margin Account. Account currencies include USD, EUR, and over a dozen others, and the minimum deposit starts at $2,000. The broker supports fully digital account opening and offers extensive fundamental and analytical research, especially for U.S. securities.
Drawbacks include the lack of cryptocurrency, commodity, Forex, or futures trading, and only stocks are available from foreign exchanges. Card deposits and withdrawals are not supported, IRA accounts are available only to U.S. tax residents, and there are higher-than-average commissions on options and mutual funds compared to competitors. Zacks Trade may be better suited for experienced investors seeking strong research tools and comprehensive access to U.S. equities, rather than cost-focused or beginner traders.
Zacks Trade Summary
Your capital is at risk.
| 💻 Trading platform: | Client Portal (web platform), Zacks Trader, Zacks Trade Pro, Handy Trader (application for smartphones), Tablet Trader (application for tablets) |
|---|---|
| 📊 Accounts: | Zacks Trade Pro Demo, Margin Account, Cash Account, Traditional IRA, Roth IRA, Rollover IRA, SEP IRA |
| 💰 Account currency: | USD, EUR, AUD, GBP, CAD, CHF, CZK, DKK, HUF, ILS, NOK, PLN, RUB, SEK, ZAR, CNH, HKD, JPY, NZD, SGD, INR, KRW, MXN, TRY |
| 💵 Deposit / Withdrawal: | Wire transfer, ACH payments, request for a cheque, transfer of assets from another broker (Automated Client Account Transfer) |
| 🚀 Minimum deposit: | From USD 2,000 |
| ⚖️ Leverage: | Up to 2:1 for overnight trades, up to 4:1 for day trading, up to 6:1 for Portfolio Margin |
| 💼 Copy Trading: | No |
| 📈️ Min Order: | No data |
| 💱 EUR/USD spread: | from $1 |
| 🔧 Instruments: | Stocks (including Penny stocks and OTC stocks), Options, Bonds, ETFs, Mutual Funds, Warrants, IPO |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | No |
| ⭐ Trading features: | Portfolio Margin is available, zero withdrawal fee on the first withdrawal of the month, residents of different countries can open investment accounts |
| 🎁 Contests and bonuses: | No |
The minimum deposit for Cash Account is $2,500. On the IRA account, the initial investment amount is not set, but it cannot be more than $6,500 per year. Marginal trading is available with an account balance at $2,000. For day trading (more than four intraday trades during five working days), a trader must have $25,000 on their account. The leverage depends on the types of trades. By default, all trading platforms support data streaming with a 15-minute delay. For execution during extended trading sessions – Pre-Market and After-Market, only trigger orders Limit or Stop Limit can be introduced.
Zacks Trade Key Parameters Evaluation
Trading Account Opening
In order to open a Personal Account on Zacks Trade, you need to become a broker’s client. For this, take the following steps:
On the Home Page of the broker’s website, click on OPEN AN ACCOUNT.
Fill out the registration form that will open once you click on the Open An Account button. Specify your first name, last name, phone number and email.
Choose the account type:
Fill out the account opening form, specifying your email, country of residence and also come up with a username and password:
Choose the customer type (individual, joint, retirement, trust):
Next, provide personal data (exactly as they are written in your passport), date of birth, taxpayer ID number. If you do not have a TIN, you need to provide your social security number or employer’s ID number. Non-residents of the US need to additionally provide passport number and scanned copies of its pages, where the nationality, residency and country of issuance are specified. Also, it is necessary to fill out the IRS W-8 form in order to confirm the country of tax residency.
In the Personal Account on Zacks Trade, users can do the following:
Personal Account also features the following tabs:
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Trading – for performing transactions on the web platform.
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Financing — for requesting money withdrawal.
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Trading configuration — for cancelling third-party paid subscriptions for market data and research.
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Transaction History — form monitoring the status of the deposit.
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Reports — for viewing the list of closed trades over a chosen period of time.
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Portfolio — for forming trading statistics on profits, losses and commissions charged by the broker.
Is Zacks Trade Safe?
Zacks Trade is a member of FINRA and is registered with the Securities and Exchange as a broker/dealer. The company is a division of LBMZ Securities, for which Interactive Brokers LLC provides clearing and execution services.
The accounts of Zacks Trade clients are protected by the Securities Investor Protection Corporation (SIPC). The maximum coverage is $500,000, but the cash limit is $250,000. SIPC compensation is paid in case Zacks Trade files for bankruptcy.
Advantages
- The broker’s operation is regulated by FINRA and SEC
- SIPC insurance coverage is available
- The broker accurately fulfils the obligations envisaged by the agreement
Disadvantages
- Tax documents must be provided for opening an account
- SEC limits the choice of assets for which increase leverage is available
- Payment transactions using debit/credit cards and electronic wallets are not supported
Commissions and Fees
Zacks Trade charges trading commissions and also a non-trading withdrawal fee, starting from the second withdrawal (no fee is charged on the first withdrawal of the month). The amount of trading commissions depends on the type of asset and the selected market. For trading US stocks and ETFs worth over $1, the broker charges USD 0.01 per share (but no less than $1), worth less than $1 – 1% of the trade (but no less than $1). Commissions on foreign stocks are calculated in the account currency. As is with the US stocks, there is a minimum commission. For the trades on Canadian stocks, Zacks Trade charges CAD 0.02 per share. For trading stocks of other countries, a percentage of the trade value is charged: 0.3% for Mexico and Australia, 0.1-1% - Europe, 0.05-0.3% - Asia. Commissions on options are as follows: $1 for the first contract, $0.75 for the following contracts, no fees are charged on execution and assignment. For the trade on mutual funds (over $1 per share), the investors pay $27.50, corporate bonds – 0.1% of the nominal value +$3 per bond. For currency conversation for the securities traded at the international exchanges, a $2-2.5 commission is charged.
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Cash Account | from $1 | Charged on the second and following withdrawals within one month |
| Margin Account | from $1 | Charged on the second and following withdrawals within one month |
| Portfolio Margin Account | from $1 | Charged on the second and following withdrawals within one month |
Trades with broker’s involvement are not charged with an additional fee. The company also does not charge inactivity fee and account servicing fee, including IRA.
Traders Union analysts compared trading commissions on options charged by ZacksTrade, Ally and Charles Schwab. The calculation was made based on 10 contracts. All three brokers don’t charge a commission per trade, but charge commission per each contract.
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$4 | |
|
$ |
Account Types
At Zacks, traders can open an investment account (cash or marginal) or retirement account. Investing in US securities and securities of international markets is available for all accounts.
Account types:
The broker offers a demo account with pre-loaded paper trading funds worth USD 1 million for a period of 90 days. The demo account is available only on the Zacks Trade Pro platform and can be requested via email.
Zacks Trade is a stock broker for experienced and professional investors, who are prepared to invest a minimum of $2,500 into trading securities.
Deposit and Withdrawal
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For withdrawal of funds from the accounts on Zacks Trade, ACH transfers, cheque requests or wire transfers are available.
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The first withdrawal of the month is not charged with a fee regardless of the withdrawal method. For every other withdrawal within the same month, the broker charges a withdrawal fee: $1 for ACH transfer, $4 – cheque, $10 – wire transfer.
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When ACH transfer is used, the money can be withdrawn four working days after the deposit is made, for wire transfers and cheques – three working days. If the money is transferred to a bank via the ACH, which is a different bank from the sender bank, the broker may hold the funds on the investment account for a period of 44 working days.
Investment Options
Zacks Trade clients can invest in shares (including penny and over-the-counter stocks), options, bonds, ETFs, mutual funds, warrants and IPO.
Portfolio Margin — investing with an increased leverage
Using the portfolio margin, Zacks Trade clients can increase the available leverage above the marginal requirements Reg T. Depending on the trading activity, investors get leverage of up to 6:1. Conditions for using Portfolio Margin:
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To be eligible for Portfolio Margin, a trader must have at least USD 110,000 in net liquidation value (or an equivalent amount in another currency).
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You need to maintain at least USD 100,000 account balance to be able to trade with an increased leverage.
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An investor can switch between Portfolio Margin and Reg T, but after requesting the margin the trader cannot switch to Cash Account.
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Checking and approval of a Portfolio Margin account takes 24-48 working hours.
Margin portfolio is not available for the US commodity futures, futures options, bonds, mutual funds and currency positions. If the net liquidation value of the portfolio drops below $100,000, the broker does not allow the investor to perform any trades with increased leverage.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Zacks Trade’s affiliate program
At the moment, the broker does not offer its clients partnership programs.
Customer Support
The company representatives can be contacted from Monday till Friday, from 9:00 am until 6:00 pm (ET), except for public holidays.
Advantages
- There is an online chat on the website
- Toll-free number is available
- Chat operators respond within several minutes
Disadvantages
- Customer support operates 5 days a week
- No 24h support
- No callback feature
- Facebook and Twitter profiles are currently inactive
The broker provides the following methods of contacting customer support:
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Online chat;
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Phone;
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Email.
The operators of the online chat respond to questions not only of the clients with active accounts, but also of the unregistered users.
Contacts
| Foundation date | 1978 |
|---|---|
| Registration address | 10 S. Riverside Plaza, Suite 1600, Chicago, IL 60606 |
| Regulation | FINRA, SIPC |
| Official site | https://www.zackstrade.com/ |
| Contacts |
Education
ZacksTrade website does not feature a separate Education section. The future investors can find useful information in the Support section (the button is in the lower part of the home page of the website). It features the answers to frequently asked questions and video tutorials on how to set up an account, work with platforms, make a deposit and withdraw funds from the accounts.
Trading on a demo account allows you to test and learn about the trading platform, learn to open orders and use built-in technical analysis indicators.
Detailed Review of Zacks Trade
Zacks Trade offers access to investors to trading shares, options, bonds, warrants, IPO, ETFs and mutual funds. Through the broker, the traders can invest in securities of the USA, Asia, Europe, Australia, Canada and Mexico. The company’s clients get free access to professional trading platforms and quality analytics from third party market data providers. The company does not prohibit intraday trading (provided certain conditions are met) and provides a possibility to invest with leverage.
Zacks Trade in figures:
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Manages assets worth over $5 billion.
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Services clients from 218 countries.
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Offers access to trading at 91 exchanges in 19 countries.
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Provides access to 20 free news and research resources and 80 paid premium-class subscriptions.
Zacks Trade is a broker with a wide range of research instruments
Zacks Trade is targeted at experienced investors, who use professional analytical instruments. The company’s own division titled Zacks Investment Research is the top provider of independent investment research and instruments, such as Zacks Rank, a ranking system. Zacks Investment Research provides information to the clients through several types of free and paid subscriptions. Individual investors have access to Dow Jones and Benzinga Professional news, Morningstar research, Seeking Alpha and Thomson Reuters articles.
The broker’s clients can perform trades via Client Portal, a simple platform Zacks Trader, and Zacks Trade Pro, an advanced and customizable platform with direct access to account management. Access to platforms is granted only after the client makes a deposit. The company also offers applications for iOS, BlackBerry and Android devices: Handy Trader for smartphones and Tablet Trader for tablets. Only trading stocks, ETFs, options and warrants is available on mobile platforms. All platforms support Limit, Market, Relative, Stop, Trailing Stop, Stop Limit market orders.
Useful services offered by Zacks Trade:
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Market Scanners. Using this service, based on the specified criteria an investor can quickly scan the markets and select the stocks, options, mutual funds and bonds.
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Algos. These are Zacks Trade Pro Stock algorithms, including the arrival price, volume-based percentage strategy, TWAP and VWAP.
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Probability Lab. This is an option analysis service without complex mathematical calculations.
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Basket Trader is a professional instrument of Zacks Trade Pro platform for importing the basket of orders on stocks and their quick execution.
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Rebalance Portfolio. This feature allows the investors to rebalance their portfolio quickly and easily to meet their investment goals and admissible risk level.
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SpreadTrader. This instrument is designed for creation of complex option orders and managing them, and also for easy closure or change of any positions of the brokerage commission.
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Options Strategy Lab. This feature allows to form a list of potentially profitable strategies based on the price forecast and underlying share volatility.
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Volatility Lab features an extended set of instruments for determining volatility taking into account the past and future indicators.
Advantages:
The broker’s clients can trade OTC and Penny stocks.
Automatic transfer of the client’s account from another broker and transfer of assets with no commission charged from Zacks Trade to another company are available.
Trading is possible from all devices (desktop and mobile). There is also a web platform, which is accessed via the Personal Account.
Intraday trading and trading with a leverage of up to 6:1 are available.
The company’s website features an online chat, the operators of which quickly respond to questions.
The broker is suitable for traders and investors, who need complex instruments of research and a wide selection of the investment assets of the US markets.
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