TradeZero Rating: 
Overview of TradeZero
TradeZero is a day-trading broker that gives traders a lot of advanced features that experienced users will find helpful. With its branches in Canada and the Caribbean, as well as the U.S., TradeZero is worth a look.
TradeZero Pros
New crypto service: A selection of coins is available through a partnership with Zero Hash.
Multiple trading platforms: Some platforms have extra fees.
Advanced features: This broker is a good fit for skilled traders.
TradeZero Cons
Excessive fees: Not every trade is commission-free.
Minimum deposit: You need enough money in your account to use the trading platforms.
Small investment lineup: Many asset types are missing.
Investment Offerings
TradeZero has three brokerage firms: one in Canada, one in the U.S., and one in the Bahamas. This review is about the U.S. branch, but most services and the trading software are the same for all three, with a few differences.
For example, only the Bahamas branch offers crypto trading at this time. The U.S. and Canada branches may add it later.
All three offer stocks, options, and ETFs. You can also trade OTC stocks, but not foreign stocks. Precious metals and futures are not available.
All accounts at TradeZero are self-directed. There is no investment advice. You can open joint, individual, or business accounts.
Opening and Funding an Account
TradeZero uses an online application that is easy to use. Look for the green “Open Account” button in the top right of the website. Each branch has rules about who can apply, based on your citizenship. Most people outside of Canada, the U.S., and the Bahamas can open an account with the Bahamas branch. Americans and Bahamians can’t open a Caribbean account, but other nationalities can.
You need to upload proof of address and a government photo ID. Anything not in English must be translated. Uploads can be made on the website.
You can fund a U.S. account with ACH, wire, or by transferring from another broker. ACH withdrawals cost $5.
Canadian accounts use U.S. dollars. Canadian money is converted automatically with a 1% fee. There’s a $50 withdrawal fee.
The Caribbean branch also only takes U.S. dollars. Its withdrawal fee is also $50.
Customer Support
TradeZero America is open Monday to Friday, 7 am to 6 pm Eastern time. They do not offer evening or weekend hours. There are no branch locations.
A strong point is the live chat on the website. Click the green icon in the bottom right corner. There’s also a support email (support@tradezero.us).
The website does not have internal messaging, but there are some useful self-help tools, including an options application, a few software manuals, and a tool for transferring funds.
Margin
Since TradeZero is made for day and swing trading, it has margin accounts. There are helpful margin tools, such as a margin calculator and an overnight borrow calculator.
These tools are under the Tools tab. Enter a ticker, select long or short, and type the number of shares to see margin info.
TradeZero America charges a flat 9% for all margin balances. This is simple and competitive, but not the lowest in the industry.
Website
Now for the software. The TradeZero website itself doesn’t let you trade, but you can move money, upload or download documents, and check your account balance and other info.
There’s a Newsroom at the bottom of the dashboard, with lots of posts about market and economic news.
ZeroFree
ZeroFree is the first trading platform. Launch it under the Trading tab. It’s a browser platform made with HTML5, so it works on both Mac and Windows.
ZeroFree is free to use and has some good tools. There’s a short locate widget and other features like:
- Level 2 quotes
- News articles
- Watchlist
- Real-time data
- Charting with some tools
- Order ticket with sell short button
You need at least $2,500 in your account to use the free platform.
ZeroWeb
The next platform is ZeroWeb, which is a step up from ZeroFree. For example, ZeroWeb can show up to ten Level 2 windows at once, while ZeroFree can only show one.
ZeroWeb also gives you custom layouts, more chart windows, and better hotkeys (the free platform has hotkeys for $15 a month). Hotkeys are fully customizable.
ZeroWeb, like ZeroFree, works in a browser on Mac or Windows.
The big drawback with ZeroWeb is its $59 monthly fee.
ZeroPro
The third and most advanced computer platform is ZeroPro. As the name suggests, it is a high-level platform. It is made for Windows, but you can run it on a Mac with an emulator.
On ZeroPro, there is a row of icons at the top. Clicking one opens a window that you can resize as you like. You can link windows together by using color codes.
The market depth window has Level 2 quotes with an advanced order ticket at the bottom. There’s also a sell short button. Clicking a bid or ask in the quotes fills out the order ticket. A conditional order ticket is also there.
The charting window has many drawing tools and technical studies. You can expand a chart to full screen for a better view. There is a right-click menu, but you cannot place a trade from it.
A downside to ZeroPro is that you can only trade calls and puts, not option spreads.
ZeroPro is included in the $59 monthly fee for ZeroWeb.
ZeroMobile
In addition to the three computer platforms, TradeZero has a mobile app. The app is included with ZeroFree, so there is no monthly fee for it.
TradeZero’s mobile app offers some, but not all, of the same features. There’s a short locate tool, which is unusual for a mobile app. There’s also a sell short button.
You can add and remove entries on the watchlist. Thanks to a deal with Benzinga, news articles show up for each stock.
Pricing
TradeZero America does not have ongoing account fees. However, there are extra fees, including:
- $10 for a paper statement
- $50 for a returned ACH
- $125 for an outgoing transfer
- OTC market data ($5 for Level 1, $15 for Level 2)
While some trades have no commission, others have fees. Stocks under $1 cost $0.99 to $7.95 per trade, depending on share count. OTC trades have the same charges.
Stocks traded between 4:00 am and 7:00 am cost 0.3¢ per share.
Option trades have no base fee, but there’s a 25¢ per-contract charge. Automatic exercises and assignments are free, but manually exercising a contract costs $35.
A broker-assisted trade is an extra $30.
Education & Security Analysis
TradeZero does not offer much trading information. The Newsroom articles are usually short. The Tools tab has a video section that shows how to use the broker’s software for things like setting up alerts or changing chart colors.
The same tab has a blog with short posts on topics like margin trading or short selling.
TradeZero’s platforms do not have any real research tools except news articles and lists of market movers.
Day Trading
Shorting: TradeZero allows short selling. The short locate tool shows how many shares you can short and the cost.
Level 2 data: Level 2 quotes are available.
PDT rule: You can avoid the pattern-day trading rule in an account with TradeZero Bahamas.
Direct-access routing: You can send orders to specific market venues if you have at least $30,000 in your account.
Leverage: TradeZero Bahamas offers up to 6:1 leverage for day trading.
Routing fees and rebates: With TradeZero America, you can get rebates for trades that add liquidity.
The TradeZero website also shows you how many trades you have left before hitting the PDT rule. Your day-trading buying power is shown above that.
Other Services
DRIP Service: Not offered.
IPO Service: Not available.
Fractional-share Trading: Only full shares can be traded.
IRAs: Retirement accounts are not offered.
Extended Hours: TradeZero does allow trading before and after market hours.
Recommendations
Mutual Fund Investors: Since mutual funds are not available, TradeZero is not recommended.
Firstrade has thousands of funds and great tools.
Beginners: TradeZero is for day traders and experienced investors. With no investment advice, beginners should look elsewhere. A WellsTrade robo account with free advisor consultations is better.
Individual Retirement Accounts: Schwab is a good choice for an IRA.
Active Equity Trading: TradeZero is good for active trading in stocks and ETFs, but you can’t trade fractional shares.
Charles Schwab offers them.
Small Accounts: With a $2,500 minimum, we don’t suggest TradeZero for small investors. Webull has no minimum.
Long-Term Investors and Retirement Savers: Fidelity has many retirement account options and resources.
TradeZero Review Recap
Even though it’s called TradeZero, the broker is more expensive than many others. TradeZero charges for its software, and some of its fees and minimums are high. Still, it has good tools for short selling and day trading, so experienced traders who want pro-level features may want to consider it.
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Updated on 7/20/2025.
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