Zacks Trade Review

Zacks Trade
Stock, Option and ETF trades for $1 your first year
Visit Broker


If forex, CFD or cryptocurrency trading isn’t really your cup of tea and you like traditional stock market investing instead, you might want to check out the share dealing broker… more

Read Full Review


Broker Zacks Trade
Website URL
Founded 1978
Headquarters 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606
Support Number 312.265.9406 Local, 888.979.2257 Toll Free
Support Types email: [email protected], phone, fax and live chat,
Languages English
Trading Platform Zacks Trade Pro, Client Portal, Zacks Trader
Minimum 1st Deposit $2500
Minimum Account Size $1
Minimum Trade Amount $1
Maximum Trade Amount none
Bonus Stock, Option and ETF trades for $1 your first year
Payout within 48 hours
Leverage 1:1 up 1 1:6, depending on account size and type
Spread None
Free Demo Account Open Demo
Regulated Yes
Regulation Zacks Trade is a division of LBMZ Securities. Brokerage products and services offered by LBMZ Securities - Member FINRA and SIPC. LBMZ Securities is a fully disclosed broker through Interactive Brokers LLC, who provides execution and clearing services to clients and is not an affiliate of LBMZ Securities.
Fees Yes
Fee Info Stock & ETF Trades from $3 (1¢ per share) 75¢ Option Contracts ($3 for 1st contract) 5.4% Margin Rate (or less depending on balance)
Commissions Yes
Commission Info Stock & ETF Trades from $3 (1¢ per share) 75¢ Option Contracts ($3 for 1st contract) 5.4% Margin Rate (or less depending on balance)
Account Types Standard Account, Pro Account
Deposit Methods bank wire transfer, cheque, ACH
Withdrawal Methods bank wire transfer, cheque, ACH
Trading Methods Hedging, Scalping
Number of Assets 10.000+
Expiry Times Differs among the different options and futures contracts available
Types of Assets shares, stocks, ETFs, options, bonds, mutual funds, penny stocks
Option Types Vanilla Options
Account Currency USD
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 10

Full Review

If forex, CFD or cryptocurrency trading isn’t really your cup of tea and you like traditional stock market investing instead, you might want to check out the share dealing broker Zacks Trade. This trading platform and broker has become quite popular the last couple of years, especially in the United States.

In this Zacks Trade review we are going to look at all the pros and cons of trading shares and investing in stocks at this USA trader allowed broker. We are going to cover the fees, the available assets and financial instruments, Zacks Trade regulation and more.

Zacks Trade is an online brokerage firm that caters both retail and institutional investors to buy and sell US equities, foreign stocks, penny shares, ETFs, options and more. The brokerage firm is founded by Len Zacks and has so far transacted more than 200 million stock trades from 218 different countries world wide.

Zacks Trade is what we call a ‘discount-broker’. They just charge $0.01 per share, at a minimum of $3 per order. The trading platform is suitable for beginner and advanced traders a like and people new to online trading can get assistance by one of the companies in-house brokers, free of charge.

Apart from being a discount broker and thus charging very low fees, Zacks Trade also has a great range of tradable financial instruments and assets. One of the unique product types offered by Zacks Trade are Penny Stocks, also called pink sheets, which most brokers don’t offer.


LMBZ is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). This means that clients are secured and protected up to $500,000 in the rare case that Zacks Trade goes bankrupt or turns insolvent.

Zacks Trade Trading Platforms

Zacks Trade has multiple trading platforms available for it’s clients. It has a main desktop platform, a web-based trading platform and for seasoned traders, the Zacks Trade PRO platform.

Zacks Trade offers a huge variety of stocks and shares on their trading platform. The focus is mainly on US equities on the NASDAQ and NYSE but there are many other financial instruments and assets available as well.

There are a total of international markets stocks of over 19 different nations on Zacks Trade. These stocks include UK’s London Stock Exchange ones, Tokyo Stock Exchange enlisted stocks and Frankfurt, Germany enlisted stocks.

Where Zacks Trade truly excels, though, is in’ts super competitive and low fees. Shares can be traded for as little as $0,01 a share with a $3 minimum per order. This means every order below 300 shars costs you $3, but for big volume orders, this is super cheap.

International shares and stocks are priced differently at Zacks Trade. Instead of a fixed fee, you pay a percentage of the total amount of shares or stock that you buy or sell. Stock exchanges in France, Germany, Italy and the UK cost about 0.3% trading fee but for Swedish markets for instance, cost 1%.

Zacks Trade

Penny Stock Trading on Zacks Trade

Zacks Trade is one of the most famous US brokers for traders and investors looking to buy or sell penny stocks. Most online brokers don’t offer penny stocks as they require OTC (over-the-counter) trading. Luckily, Zacks Trade got a wide range of penny stocks available to invest in.

Zacks Trade charges their standard commission fees on penny stocks priced above $1 but on penny stocks under $1 each you just pay 1% in trading fees, with a $3 minimum.

Please note that although you can buy penny stocks very easily on Zacks Trade, there is no guarantee that you can sell them that easy too. Penny stocks are often very volatile and are low in liquidity most of the times.

Option Trading on Zacks Trade

For those who like to trade options, Zacks Trade offers the opportunity to buy and sell options. These cost $3 for the first contract and $0,75 each after.

Mutual Funds Trading on Zacks Trade

It is possible to trade mutual funds on Zacks Trade but you pay $12,55 per trade, which is a bit high compared to other share dealing brokers.

ETF Trading on Zacks Trade

Just like stocks and shares, traders can buy and sell ETFs via Zacks Trade. ETFs also just cost $0.01 per share and come with 1% in trading fees with a $3 minimum.

There are a wide range of ETFs available at Zacks Trade, with even ETFs on commodities, interest rates, bonds, real estate and currency markets. Almost all ETFs can be traded 24/7.

Bond Trading on Zacks Trade

If bonds are your favorite asset class to trade, look no further than Zacks Trade. The broker offers a wide range of government and corporate bonds with quite low trading fees. On bonds you pay just 0.1% of the first $10,000 traded plus $3 per bond and after that, you will pay a reduced rate of 0.025%, plus $3 per bond. On government bonds the fees are even lower: just 0.025% up to the first $1 million and 0.005% after this.

Zacks Trade

Deposits and Withdrawals at Zacks Trade

The minimum deposit to open a live trading account at Zacks Trade is quite high, being $2,500. So, although Zacks Trade is aimed at new traders with it’s zero-commission trading, this is quite high for inexperienced traders and they might lower the minimum deposit in the near future.

Note that you can only deposit funds on Zacks Trade via a bank wire or cheque deposit. There are no e-wallet deposit options like PayPal, Skrill, Neteller or Revolut.

Depositing money to your Zacks trade account is free from Zacks Trade side. Your bank might charge additional charges, though. You can withdraw money from your Zacks Trade review once a month for free. After that, each withdrawal costs $1 via ACH, $4 for a cheque withdrawal and $10 for a bank wire withdrawal. These fees are quite low compared to other brokers, who charge more.

Zacks Trade Trading Platforms

If you just want to trade in a simple interface, then the standard web-based online trading platform is probably the best. This trading platform offers all the same asset classes and financial instruments the PRO desktop platform features, but in a more simplified manner. This is actually quite good for people who just want to buy and sell stocks, shares and other assets on a long term basis instead of day trading.

For professional (day) traders we suggest the PRO platform, which comes in a downloadable .exe file to be installed on any computer or laptop. The PRO platform is free and available on Windows, Mac and Linux. One of the advantages of using the PRO trading platform is that you can use over 120 technical indicators.

You can fully customize your charts and you have access to all the analysis tools for professional day trading. The PRO platform has all the integration features with Basket Trader, SpreadTrader, Volatility Lab, Market Scanners and Algos.


Mobile Trading at Zacks Trade

It’s possible to trade on the go with Zacks Trade as they have both an Android and a iOS app available for free in their respective app stores.

On the mobile apps you can view real-time quotes and charts, enhanced security controls, set pricing notifications and trade on the go. The app is very user friendly and easy to navigate.


Zacks Trade Account and Portfolio Management

Zacks Trade has a trading platform available for account and portfolio management. On this separate trading platform you can watch account statements, deposits and withdrawals and trade confirmations. One of the best features of the Zacks Trade Account and Portfolio Management platform is that you can export account statements to make tax reporting easy.

Human Assisted Trading at Zacks Trade

Whilst many brokers advertise with free human trading assistance, most of the times this is just a robo-advisor. Luckily, at Zacks Trade, real in-house human assisted trading is possible at no additional cost.

Please note that free human brokerage assistance does not mean financial advice. The broker on the phone can help you execute trades and open or close positions but not tell you what to invest in or what to buy. For new traders, human assisted trading is a huge benefit, though!

Margin Trading and Leverage at Zacks Trade

If you have some trading experience and would like to have a little bit more risk and higher profits (but also chance on bigger loses), you can trade on margin or with leverage at Zacks Trade.

If you never traded with leverage or margin before, please check out some information on the internet, let’s say on the page linked to below, as it can be quite tricky. At Zacks Trade you can only borrow up to 50% of the purchase price of securities, while the remainder must be paid for cash. Also, your account balance must be at least $2,000.

Zacks Trade got quite low leverages compared to other brokers. According to your account type, you are typically able to get 2x leverage on overnight holdings and 4x on day trades.

When you got more than $110,000 on your account, you are able to increase your leverage up to 6x. In financing costs, this is about 5.4% for account balances sub $100,000. The lowest rate is 4.7% on accounts with at least $3 million or more on them (institutional traders).

Zacks Trade

Who can open an account at Zacks Trade?

To open an account at Zacks Trade you need to have a minimum annual income of $40,000 and a net worth not less than $20,000. Also, you have to show that you got sufficient trading experience before opening a real account. This means a minimum of two years trading experience and the execution of at least 100 trades. If you’re not from the US and don’t have a social security number, you will need to upload your valid tax ID number.

Last but not least, as with all regulated brokers, you will need to follow KYC procedures and verify your identity. This can be done when you open the account or when you make your first withdrawal and just requires a copy of a passport, national ID card or driver’s license and proof of address (bank statement or recent utility bill).

Is Zacks Trade a Reliable Broker?

We, at to our best to investigate and create unbiased reviews about every broker on our website. For this reason we have many opened accounts and happy trading clients all over the world. For what we found about Zacks Trade is the following: Zacks Trade got all the required regulatory licenses to facilitate online trading. The broker’s parent company: LMBZ Securities is authorized and regulated by the SEC, FINRA and SIPC. Being regulated by three different regulatory bodies ensure you that Zacks Trade is a reliable, trustworthy broker.

Zacks Trade is also covered by the SIPC insurance policy, which means that in the rare event of a brokerage failure, your account balances are protected up to $500,000. In special cases and for those (institutional) traders with higher account balances, Zacks Trade has also been underwritten by Lloyd’s of London.

Please also note that the SIPC policy does not protect you from the event that you lose money trough your trading behaviour, nor does it protect you in the event your account is fraudulently used by malicious third party actors.

When it comes to account security, Zacks Trade does all it can and a little more to protect your account. First of all, their website and trading platforms are SSL (Secure Socket Layer) protected, which you can check by clicking on the green padlock icon in front of their website address, in your browser bar.

Also, they added the option for traders to set up two-factor authentication (2FA). This means you get a unique code sent to your mobile phone every time you login, which you need to fill in to be able to access your account.

As an alternative method to using your cell phone, you can also request a physical device made by Zacks Trade, delivered to your home address. It’s 2FA features work the same, but you will get the codes on that device instead of on your phone.

Apart from these security measurements, Zacks Trade has an in-house security team that tries keeping client’s accounts safe at all times. Their daily jobs translate to spotting suspicious login attempts and or unusual trading activities.

Zacks Trade

Zacks Trade Customer Service

The Zacks Trade customer service can be reached in four different ways. One of the most direct and convenient ways is by using the live chat feature on their website, which is available during week days. If you leave a message, the follow up on it on monday. Another way of contacting the Zacks Trade customer service is by sending an email to [email protected] Last, but not least, you can call or fax them on 888-979-2257 Monday to Friday 09:00 to 18:00 Eastern Time.

Zacks Trade Review Conclusion

As a share dealer offering every asset class available, including stocks, shares, bonds, ETFs, mutual funds, options and penny stocks and offering access to over 90 different financial markets in a SSL secured protocol environment, Zacks Trade is a great broker where you can safely trade the financial markets. Also fee-wise, Zacks Trade is one of the cheaper brokers to trade with. Zacks Trade trading platform is also suited for traders of all sizes. Whether traders are new to the financial markets or experienced day traders, with it’s three available trading platforms, Zacks Trade can be used to trade the markets with for any kind of trader. For professional traders the access to over 120 technical indicators and the broker being regulated by three regulatory bodies, indicates they’re in safe hands trading with Zacks Trade.

For the time being, Zacks Trade got a demo account available with $1 million in paper trading funds. Use the button below to sign up for a free Zacks Trade demo account.

Zacks Trade


Screenshot 1 Screenshot 2


  • No spreads, just low costs share dealing
  • Penny Stock Trading Available
  • Mobile Trading Apps Available


  • Quite large minimum deposit required ($2,500)
  • No e-wallet deposit options like Skrill, Neteller, Paypal or Revolut


There is no review.

User experience


How pleasent is it to trade with this broker



Does the trading platform work smooth and without errors?



Was the broker and trading software reliable?

Customer Service


Was the broker easy to reach? How was your experience with their customer service?



How did the payouts work out, did you pay any withdrawal fees?

Overall Rating



I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

Visit Broker
This website is owned by GC Media Holdings Ltd. 306 Victoria House, Victoria, Mahe Island, Seychelles. Advertise / (media) buying enquiries