TradeZero Rating: 
Overview of TradeZero
TradeZero is a brokerage firm focused on day trading, offering a range of advanced features that cater to experienced traders. With sister companies in Canada and the Caribbean, TradeZero provides options for various clients and is worth considering.
TradeZero Pros
New crypto service: Several cryptocurrencies are available through a partnership with Zero Hash.
Multiple trading platforms: Although some of these come with fees.
Advanced features: Ideal for experienced traders looking for more complex tools.
TradeZero Cons
High fees: Not all trades are commission-free.
Minimum deposit required: Access to trading platforms requires a certain level of funding.
Limited investment options: Some asset classes are not available.
Investment Offerings
TradeZero has branches in Canada, the U.S., and the Bahamas. This review focuses on the American branch, though many services are the same across locations, and the software is identical, with minor regional differences.
Currently, only the Bahamas branch offers cryptocurrency trading, though other branches may add this in the future.
All branches offer trading in stocks, options, and ETFs. The stock category includes OTC stocks, but foreign stocks are not available. Other asset types, like precious metals and futures, are also unavailable.
All accounts at TradeZero are self-directed, with no investment-advisory services. TradeZero offers joint, individual, and business accounts.
Opening and Funding an Account
TradeZero provides an easy-to-use online application. Look for the green "Open Account" button in the top-right corner of the website. Each branch has citizenship requirements. Generally, individuals outside Canada, the U.S., and the Bahamas can open accounts with the Bahamian branch, but U.S. and Bahamian citizens cannot open accounts with the Caribbean branch.
Applicants need to provide proof of address and a government-issued photo ID. Documents not in English must be translated, and images can be uploaded directly on the site.
U.S.-based accounts can be funded via ACH, wire, or account transfer. ACH withdrawals have a $5 fee.
Canadian accounts are in U.S. dollars, with Canadian dollar deposits converted to U.S. dollars at a 1% fee. Canadian accounts incur a $50 withdrawal fee.
Caribbean branch accounts only accept U.S. dollars and have the same withdrawal fee as Canadian accounts.
Customer Support
TradeZero America’s support is available during weekdays from 7:00 AM to 6:00 PM EST. The firm has no physical branches.
TradeZero’s live chat feature, accessible via a green icon at the bottom-right of the website, is a valuable support option. The company also provides email support at support@tradezero.us.
While there is no internal messaging, self-help options like a funds transfer tool, options application, and software manuals are available.
Margin
As a broker focused on day and swing trading, TradeZero offers margin accounts with useful tools, including a margin calculator and an overnight borrow calculator.
These tools are found under the Tools tab on the website, where users can input a ticker, long or short position, and the number of shares for margin info.
TradeZero America charges a flat 9% on margin debits. Although simple, this rate may not be the most competitive.
Website
TradeZero’s website lacks trading functions but provides several useful tools. Users can transfer funds, upload/download documents, and monitor account balances.
The “Newsroom” at the bottom of the dashboard provides a selection of posts on market and economic events.
ZeroFree
ZeroFree is a browser-based trading platform accessible from the website's Trading tab. Built with HTML5, it works on both Mac and Windows.
ZeroFree is free to use and includes some powerful tools, such as a short locate widget, Level 2 quotes, news articles, watchlist, real-time data, charting with some tools, and an order ticket with a sell short button.
TradeZero America requires a $2,500 balance to use this free platform.
ZeroWeb
ZeroWeb is a step up from ZeroFree, with additional features such as up to ten Level 2 windows (compared to just one on ZeroFree).
ZeroWeb also offers customizable layouts, more chart windows, and advanced hotkeys (available for an extra $15 per month on ZeroFree). ZeroWeb works on both Mac and Windows.
The downside of ZeroWeb is its $59 monthly fee.
ZeroPro
ZeroPro is TradeZero’s highest-level platform, designed for Windows but compatible with Mac using an emulator.
It features color-coded window linking, a market depth window with Level 2 quotes, an advanced order ticket, and a separate button for selling short. A conditional order ticket is also available.
Charting on ZeroPro includes extensive drawing tools and technical indicators. Charts can be expanded full screen. However, options trading on ZeroPro is limited to calls and puts, with no support for spreads.
ZeroPro is included with ZeroWeb’s $59 monthly fee.
ZeroMobile
TradeZero’s mobile app is available with ZeroFree, so there’s no monthly fee.
The mobile app includes tools like the short locate tool and a sell short button. Watchlist items can be added and removed easily, and Benzinga news articles are available for individual securities.
Pricing
TradeZero America does not charge recurring fees on its brokerage accounts, but there are some additional fees, such as:
- $10 for a paper statement
- $50 for a returned ACH
- $125 for an outgoing transfer
- OTC markets data ($5 for Level 1, $15 for Level 2)
While some trades are commission-free, certain transactions incur fees. Stocks under $1 carry a commission ranging from $0.99 to $7.95, depending on the share amount. Over-the-counter trades follow the same fee structure.
Trades executed between 4:00 am and 7:00 am are charged at 0.3¢ per share.
Options trades don’t have a base fee, but there’s a 25¢ per-contract fee. Automatic exercises and assignments are free, but manually exercising a contract costs $35.
Broker-assisted trades incur an additional $30 fee.
Education & Security Analysis
TradeZero does not provide extensive trading information. The articles in the Newsroom mentioned earlier are typically brief. Under the Tools tab on the website, there is a link to video tutorials that show how to use the broker’s software for tasks like setting alerts or adjusting candlestick colors.
The same tab includes a blog with short articles on various topics, such as margin trading and shorting stocks.
Unfortunately, TradeZero’s platforms lack in-depth research tools beyond news articles and market mover lists.
Day Trading
Shorting: TradeZero allows short positions and has a short locate tool showing the available shares for shorting and the cost to short.
Level 2 data: TradeZero offers Level 2 quotes.
PDT rule: The pattern-day trading rule can be bypassed within a TradeZero Bahamas account.
Direct-access routing: Direct order routing to specific market venues is available with a minimum account value of $30k.
Leverage: TradeZero Bahamas offers up to 6:1 leverage for day trading.
Routing fees and rebates: TradeZero America accounts may earn rebates on trades that add liquidity.
Additionally, the TradeZero website displays the number of trades available in an account before it hits PDT status, along with day-trading buying power.
Other Services
DRIP Service: Dividend Reinvestment Program (DRIP) is not available.
IPO Service: Initial Public Offerings are not available.
Fractional-share Trading: Only whole shares of stocks and ETFs can be traded.
IRAs: No retirement accounts are offered.
Extended Hours: TradeZero allows trades to be submitted before the market opens and after it closes.
Recommendations
Mutual Fund Investors: TradeZero doesn’t offer mutual funds.
Firstrade offers a wide selection of funds and useful tools like a screener and All-Star fund list.
Beginners: TradeZero’s focus is on day and experienced traders, and it doesn’t offer investment advice. For new investors, we recommend a robo account with WellsTrade, which includes free consultations with licensed advisors.
Individual Retirement Accounts: Schwab is a solid choice for opening an IRA.
Active Equity Trading: TradeZero is a strong option for active stock and ETF traders, although
it doesn’t support fractional shares, which are available at
Charles Schwab.
Small Accounts: Due to a $2,500 minimum requirement, TradeZero may not be ideal for smaller accounts. Webull, with no minimum, is a good alternative.
Long-Term Investors and Retirement Savers: Fidelity provides a variety of tax-deferred accounts
and retirement planning tools.
TradeZero Review Recap
Despite the name, TradeZero can be more costly than other brokerage firms, as it still charges for software and has certain fees and minimums. However, it does offer solid tools for shorting and day trading, making it a good choice for advanced traders looking for professional-level features.
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Updated on 5/20/2025.
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