Zacks Trade Rating: 
Overview of Zacks Trade
If you’re looking for a day-trading broker with advanced software, various data packages, and a crypto option as well, Zacks Trade could be a top choice. For more details, keep reading.
Zacks Trade Pros
Customer service: No extra charges for broker-assisted trades.
Advanced software: Provided by Interactive Brokers.
Global trading: Access to multiple foreign exchanges.
Zacks Trade Cons
No commission-free trading: Fees apply to all asset types.
Research costs: Most data packages and some research tools have monthly fees.
Inactivity fee: Day traders can avoid it if they generate $15 in monthly trading commissions.
Investment Lineup
Zacks Trade customers can buy and sell the following investments:
- Stocks
- ETFs
- Closed-end funds
- Mutual funds
- Options
- Bonds
- Warrants
- Cryptocurrencies
Crypto trading is offered through a partnership with Paxos. Zacks Trade also provides access to international exchanges, allowing trading of foreign companies' stocks. Available exchanges include
Switzerland, the UK, Spain, Belgium, and Mexico.
Zacks Trade opens accounts for residents and citizens of many countries, with few locations ineligible. Foreign customers need to submit IRS Form W-8.
There are several account types available, including individual, joint, business, and retirement accounts, both taxable and tax-advantaged. Zacks Trade only offers self-directed accounts. These accounts can access a range of market data and research tools, some of which are free while others have monthly fees.
Opening an Account
Opening an account with Zacks Trade is simple.
Look for the orange button on the website to access the online application. Foreign residents should start here as well. They will need to fill out and submit IRS Form W-8 along with their account number to the clearing firm via email (newaccounts@interactivebrokers.com).
Zacks Trade does not accept physical stock certificates for deposit.
Try Zacks Trade
Cash bonus up to $1,000 when you open a Zacks Trade account.
Open ZacksTrade Account
Customer Service
Zacks Trade no longer has live chat on its website, but it still offers support through email (support@zackstrade.com), phone (888.979.2257), and fax (312.265.9547). When we tested the customer service line, we were directed to voicemail after a few minutes, though in the past, they answered immediately.
Most support channels are only available during market hours, which is a limitation. There are no branch locations, so customer support options are fairly limited. However, Zacks Trade does offer U.S.-based customer service, which is a plus compared to brokers that outsource service internationally.
Zacks Trade Fees and Commissions
Zacks Trade has not adopted zero-commission trading. Below is its pricing structure for stocks and options:
Stocks & ETFs $0.01 per share, with a $1 minimum fee (for shares priced above $1)
Stocks & ETFs 1% of trade value, with a $1 minimum fee (for shares priced below $1)
Options $1 for the first contract, then $0.75 for each additional contract
Mutual fund trades cost $27.50 each. Most bond trades are $3 per security plus a percentage of the face value. Cryptocurrency trades have a minimum fee of $1.75, capped at 1% of the trade value.
The minimum deposit to open an account is $250. Accounts under $25,000 are subject to a $15 monthly inactivity fee, which can be waived by generating $15 in monthly trading commissions.
There is also a withdrawal fee structure: the first withdrawal each month is free. Subsequent withdrawals cost $1 for an ACH, $4 for a check, and $10 for a wire.
Data package fees vary, with some free and others costing up to hundreds of dollars per month. Here are some examples:
| Bundle | Non-Pro | Pro |
|---|
| NYSE AMEX Options Depth of Book (L2) | USD 11.50 | USD 62.50 |
| IB Market Signals | FREE | FREE |
| OTC Markets Top of Book (L1) | USD 6.00 | USD 35.00 |
| Euronext Currency Derivatives Depth of Book (L2) | EUR 3.00 | EUR 3.00 |
| Oslo Bors Depth of Book (L2) | NOK 110 | NOK 387.50 |
Despite the range of fees, Zacks Trade doesn’t charge for outgoing ACAT transfers.
Margin
As a high-powered brokerage, Zacks Trade offers margin accounts. Existing cash accounts can be upgraded to margin accounts in the Account Management section of the website.
The firm’s interest rates are competitive. Here’s the current tiered structure:
|
Debit Balance
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Margin Rate
|
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$0 - $100,000
|
8.83%
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$100,001 - $1,000,000
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8.33%
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$1,000,001 - $3,000,000
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8.08%
|
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$3,000,001+
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7.83%
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Portfolio margin, which provides more leverage, is available for accounts with at least $110,000 in assets.
Zacks Trade’s software shows margin requirements for specific securities. Let’s review these platforms now.
Zacks Trade Pro
Zacks Trade Pro, a desktop platform, is available at no extra cost. This software is essentially Trader Workstation from Interactive Brokers but with the Zacks Trade logo.
This platform includes many advanced features, such as:
- Order ticket with 19 order types and advanced settings
- Full-screen charting with multiple tools
- Time & sales data
- Screeners for assets
- Comprehensive options tools
- Watchlists
- Alerts
- Economic calendar
- And much more...
The order ticket includes a bracket order option under an advanced tab, as well as an options chain for selected stocks. The strategy builder lets users quickly select multi-leg strategies.
Charts on the platform can be displayed full screen, which is useful for the more than 100 available technical indicators. Right-clicking on the chart provides trade options and other features.
At the bottom-left corner, you’ll find Mosaic and Classic tabs to switch layouts, with most tools accessible in both views. There’s also a Learn tab for beginners, and a demo login is available for practicing without risk.
Client Portal
The client portal is a web-based trading platform that, while accessible through a website, offers advanced trading features. It includes a detailed trade ticket with various order types and charting powered by TradingView, providing a range of graphing tools.
The website is also ideal for managing account settings and includes a mutual fund screener and tools for deposits and withdrawals.
Mobile App
Zacks Trade’s mobile app is another powerful tool. During our testing, we found the order ticket very useful, with features like a swipeable chart and advanced tools such as a price management algorithm and several professional order types, including mid-price and time-variant volume orders.
The app also includes solid options tools, such as Greek values and profit-loss diagrams. Users can create custom orders, though few strategies are pre-installed. The charting feature can be viewed horizontally and offers candlestick, bar, and mountain styles, along with a few technical studies and up to five years of price history.
Education & Security Analysis
Zacks Trade is geared towards experienced investors and doesn’t offer much beginner content. However, it does provide some news services, with free subscriptions to sources like 24/7 Wall Street, Dow Jones, Seeking Alpha, and The Motley Fool.
Zacks Trade’s platforms also offer many security analysis tools, especially on the desktop platform and client portal. The website’s security profiles include data like:
- Analyst Forecast
- News
- Ownership
- Dividends
- Social Sentiment
- Key Ratios
- ESG Ratings
- EPS Forecast
- Technical Insights
- Short Selling
Under the Research tab, there are additional tools such as an economic calendar and a global exchange center.
The desktop platform offers an advanced stock screener with access to foreign exchanges and several options analysis tools.
Zacks Rank Trading Tool
For 36 years, Zacks Investment Research has maintained model portfolios with Zacks Rank #1 stocks. Historically, these portfolios have outperformed the market, with an average annual return of +24.15% compared to the S&P 500’s +11.11% (1988 to 06/03/2025).
The Zacks Rank Trading Tool allows traders to search for Zacks Rank #1 stocks by theme, sector, or industry and trade them within their Zacks Trade account. An account minimum of $250 is required to access the Zacks Rank Trading Tool.
Day Trading and Swing Trading
Leverage: Standard margin accounts offer up to 4:1 leverage, while portfolio margin accounts offer up to 6:1.
Shorting: Short selling is available, with some platforms showing the number of shares available for shorting.
Level II quotes: Zacks Trade provides Level II data on U.S. exchanges and some foreign exchanges, typically for a fee.
Direct-access routing: Zacks Trade offers direct access to market makers and ECNs on U.S. and foreign exchanges.
Routing fees and rebates: Some rebates are available for orders that add liquidity.
Other Services
Initial Public Offerings: IPOs are not available through Zacks Trade.
Fractional-share Trading: Fractional trading is available for stocks, ETFs, mutual funds, and cryptocurrencies.
DRIP Service: Dividend reinvestment is available for a fee.
Individual Retirement Accounts: Zacks Trade offers Roth, Traditional, SEP, and Rollover IRAs. IRAs can opt for limited margin to enable day trading, with options up to level 1. There are no extra fees for IRAs.
Extended Hours: Pre-market and after-hours trading are available.
Periodic Mutual Fund Purchases: Not available.
Try Zacks Trade
Cash bonus up to $1,000 when you open a Zacks Trade account.
Open ZacksTrade Account
Updated on 5/20/2025.
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