Zacks Trade

Zacks Trade
WikiStock Rating	⭐⭐⭐
Account Minimum	$2,500
Fees	Competitive, varies by product
Account Fees	$15/month inactivity fee for accounts under $25,000
Margin Interest Rates	Starts at 5.83% (varies)
Mutual Funds Offered	Extensive selection of US mutual funds
App/Platform	Zacks Trade Pro, Client Portal, Zacks Trade App

What is Zacks Trade？

　　Zacks Trade is a brokerage platform known for offering various trading products, competitive fees, and comprehensive research tools. It provides access to international stocks, ETFs, bonds, mutual funds, and options. However, it lacks negative balance protection and is not available in certain regions.

Pros and Cons of Zacks Trade

　　Zacks Trade offers several advantages such as a high level of investor protection, a diverse range of trading products, and competitive fees. However, there are also some drawbacks to consider, including potential risks associated with the lack of negative balance protection and limited availability in certain regions. Traders should weigh these factors carefully when evaluating Zacks Trade as their brokerage platform.

Is Zacks Trade safe？

　　Regulation:

　　Zacks Trade is regulated by the Financial Industry Regulatory Authority (FINRA) under license no.CRD#: 7874/SEC#: 8-23266, ensuring a high level of investor protection. As a regulated entity, typically, it may offer more safety to investors.

　　Funds Safety

　　Client accounts at Zacks Trade are protected by SIPC (Securities Investor Protection Corporation), covering securities up to $500,000, including $250,000 for cash claims. This protection applies to securities and cash held in connection with the purchase or sale of securities, but it does not cover commodities, futures contracts, or any related derivatives.

　　Safety Measures:

　　Zacks Trade employs several security measures to safeguard client information and assets:

• Multi-Factor Authentication (MFA): Clients must use a security code device or mobile app for MFA, adding an extra layer of account security.
• SSL Encryption: Zacks Trade uses 128-bit SSL encryption to secure the connection between clients' computers and its platforms, ensuring data transmission security.
• Automatic Account Timeout: Accounts are automatically logged out after a specified period of inactivity to prevent unauthorized access.
• Failed Login Attempts: Account access is restricted after a set number of failed login attempts to protect against brute-force attacks.

What are securities to trade with Zacks Trade？

　　Tradable securities offered by Zacks Trade including the following:

• International Stocks: Zacks Trade provides access to a wide selection of international stocks, allowing investors to trade on various global exchanges.
• ETFs (Exchange-Traded Funds): The platform offers an extensive range of ETFs, providing investors with opportunities for diversified investments across different sectors and regions.
• Bonds: Zacks Trade includes bonds in its product offerings, covering both US and European government and corporate bonds for fixed income investments.
• US Funds (Mutual Funds): Investors can choose from a large number of US mutual funds available on the platform, offering diversified investment options managed by professional fund managers.
• Options: Zacks Trade offers a comprehensive selection of options from US options markets, allowing traders to execute various trading strategies.

　　Not Supported:

• Futures: Zacks Trade does not support trading in futures contracts, which are derivative financial contracts that obligate the buyer to purchase or sell an asset at a predetermined future date and price.
• Forex (Foreign Exchange): Similarly, Zacks Trade does not facilitate trading in the forex market, where currencies are bought and sold against each other.


Zacks Trade Account Opening

　　Zacks Trade offers a fully digital account opening process, allowing clients worldwide to establish accounts without any minimum deposit requirement. While the platform's digital accessibility is a notable advantage, the process itself is criticized for being slow and challenging to navigate. Additionally, while available in many countries globally, Zacks Trade excludes notable regions such as Australia, Canada, Japan, and Hong Kong from its service, limiting accessibility for potential clients in these areas.



Zacks Trade Fees Review

　　Zacks Trade applies a tiered fee structure across various investment products:

　　Stocks & ETFs:

• Greater than $1 per share: $0.01 per share with a minimum of $1 per trade.
• Less than $1 per share: 1% of the trade value with a minimum of $1 per trade.

　　Options:

• 1 for the first contract, plus 0.75 per additional contract.
• Options exercise/assignment fee: Free.
• Broker-assisted trades: No extra charge.

　　Mutual Funds:

• Greater than $1 per share: $27.50 per trade.
• Broker-assisted trades: No extra charge.

　　Corporate Bonds:

• Up to $10,000 face value: 0.1% of face value plus $3 per bond.
• Remaining face value: 0.025% of face value plus $3 per bond.
• Broker-assisted trades: No extra charge.

　　Government Bonds:

• Up to $1 million face value: 0.025% of face value plus $3 per bond.
• Remaining face value: 0.005% of face value plus $3 per bond.
• Broker-assisted trades: No extra charge.

　　Minimums & Additional Fees:

• Required minimum: $2,500.
• Inactivity fee: $15 per month for accounts under $25,000.
• Access to all platforms: Free.
• Automated customer account transfer (incoming/outgoing): Free.
• Corporate actions: Free.
• Withdrawals: Free for the first withdrawal per month; subsequent withdrawals incur fees ($1 for ACH, $4 for check, $10 for wire).
• Order cancellation: Free.
• IRA custodial fee: Free.

　　In summary, while Zacks Trade offers competitive pricing for stocks, ETFs, options, bonds, and mutual funds, clients should be mindful of minimum account requirements and potential fees for inactivity and subsequent withdrawals.



Zacks Trade App Review

　　Zacks Trade offers a range of trading platforms tailored to different trading styles and preferences:

　　Zacks Trade Pro:Designed for active traders seeking a robust desktop application. Features built-in algorithms, scanners, and various trading tools. Zacks Trade Pro offers a customizable interface for personalized user-defined views. Highlights include complex trading abilities, news updates, and technical research and analysis tools. Best suited for active, high-volume traders.

　　Client Portal:Available to all Zacks Trade customers, providing access to essential trading functions and account management. Allowing for the placement and management of simple trades. Client Portal provides access to account documents, balances, and settings. Highlights include a single access point for trades, statement review, and account settings adjustment. Best suited for traders seeking to execute less complex operations and manage their accounts efficiently.

　　Zacks Trade App:Offers full functionality on mobile devices, enabling traders to stay connected and manage their portfolios on the go, allowing users to enter and manage orders, view executions, monitor portfolio performance, and access account balances. Supports trading of stocks, options, and other securities. Highlights include accessibility to all Client Portal benefits from anywhere via a phone or tablet. Best suited for traders who require flexibility and mobility.



Research and Eduation

　　Zacks Trade offers a comprehensive suite of research and educational resources to empower traders with valuable insights and knowledge:

　　Free Research Subscriptions:

　　Zacks Trade provides access to over 20 free research subscriptions and 80 premium trials, enabling traders to stay updated with valuable market insights and trends without incurring additional costs. These subscriptions cover a wide range of topics and sectors, allowing traders to explore various investment opportunities and make informed decisions based on up-to-date information.

　　Premium Research Providers:

　　Zacks Trade partners with renowned research providers such as Dow Jones Newswires, Morningstar, Seeking Alpha, The Motley Fool, Thomson Reuters, and Benzinga Professional. Each provider offers unique perspectives and expertise, delivering premium business news, fundamental analysis, investment strategies, and real-time market updates. By leveraging these premium research services, traders gain access to reliable information and actionable insights to enhance their trading strategies.

　　Purchase Options:

　　Traders have the option to purchase research subscriptions directly through the Zacks Trade Client Portal. The process is straightforward, with subscriptions available for selection under the Settings > User Settings > Research Subscriptions section. It's important to note that subscriptions are billed on a monthly basis and are not pro-rated. Traders can manage their subscriptions easily and adjust them according to their research needs through the intuitive interface provided in the Client Portal.

　　Educational Resources:

　　While not explicitly outlined in the provided information, Zacks Trade likely offers a range of educational resources to support traders in their journey. These resources may include webinars, articles, tutorials, and other educational materials designed to help traders improve their knowledge and skills in trading and investing. By providing access to educational content, Zacks Trade aims to empower traders with the tools and information they need to make informed decisions and achieve their financial goals.



Customer Service

　　Contact Methods:

• Phone: Clients can reach Zacks Trade support via phone at 312.265.9406 (local) or 888.979.2257 (toll-free).
• Email: Clients can email their inquiries to support@zackstrade.com.
• Chat: Zacks Trade likely offers chat support through its website or trading platform.
• Social Media: Clients may also have the option to contact Zacks Trade through social media platforms like X(formerly Twitter) or Linkedin.

　　Support Hours:

• Availability: Support is available from Monday to Friday, 9:00 am to 6:00 pm ET, excluding exchange holidays.
• Weekend and Holiday: Support may not be available on weekends or exchange holidays.
• Emergency Support: For urgent matters outside of regular support hours, clients may need to refer to alternative support channels or resources provided by Zacks Trade.


Conclusion

　　Zacks Trade offers a comprehensive suite of services, including a diverse range of trading products, competitive fees, robust trading platforms, extensive research and educational resources, and dedicated customer support. While it provides a high level of investor protection and regulatory oversight, clients should consider factors such as account opening processes, supported countries, and potential fees. Overall, Zacks Trade aims to empower traders with the tools and support they need to navigate the financial markets effectively and achieve their investment goals.

FAQs

　　Is Zacks Trade safe to trade？

　　Yes, Zacks Trade is safe to trade with. It is regulated by FINRA and is a member of SIPC, which protects client securities up to $500,000, including $250,000 for cash claims. Additionally, Zacks Trade employs multi-factor authentication, SSL encryption, automatic account timeouts, and failed login attempt restrictions to ensure the security of client accounts.

　　Is Zacks Trade a good platform for beginners？

　　Zacks Trade can be suitable for beginners due to its comprehensive research and educational resources, competitive fees, and user-friendly mobile app. However, beginners should be aware of the $2,500 minimum account requirement and the potential complexity of the platforms advanced trading tools.

　　Is Zacks Trade legit？

　　Yes, Zacks Trade is a legitimate brokerage platform. It is regulated by FINRA, providing a high level of investor protection, and is a member of SIPC, ensuring insurance coverage for client accounts. The platform also employs robust security measures to protect client information and assets.

Risk Warning

　　The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.