Zacks Trade Rating: 
Overview of Zacks Trade
If you want a day-trading broker with advanced software, lots of data packages, and even a crypto service, Zacks Trade deserves a serious look. For the full story, keep reading.
Zacks Trade Pros
Customer service: Broker-assisted trades do not carry extra surcharges.
Advanced software: Thanks to Interactive Brokers.
Global trading: Multiple foreign exchanges are available.
Zacks Trade Cons
No commission-free trading: Every asset class has a trading fee.
Research can cost money: Many data packages and several research apps have monthly charges.
Inactivity fee: Active traders can avoid it by generating $15 in trading commissions each month.
Investment Lineup
Zacks Trade clients can buy and sell the following investments:
- Stocks
- ETFs
- Closed end funds
- Mutual funds
- Options
- Bonds
- Warrants
- Cryptocurrencies
The crypto service is available through a partnership with Paxos. Zacks Trade is one of the few brokers in the
United States that gives customers access to foreign exchanges. On these exchanges, the stocks of many
foreign companies can be traded. Available exchanges include
Switzerland, the UK, Spain, Belgium, and Mexico.
Zacks Trade will also open accounts for residents and citizens of many foreign countries. Only a few
locations are excluded. Once again, it is one of the few U.S.-based firms to do this. Form W-8 is
required.
There is a solid selection of account types at Zacks Trade. The brokerage firm offers taxable and tax-advantaged accounts in joint, individual, business, and retirement formats.
Zacks Trade does not offer managed accounts, so everything is self-directed. These do-it-yourself accounts can subscribe to a wide range of market-data and research add-ons. Some are free, while others cost hundreds of dollars per month.
Opening an Account
It’s very easy to open a brokerage account with Zacks Trade.
Just look for the orange button on its website to access the online application. This is also where foreign residents should begin. They will need to complete and submit IRS Form W-8 to Zacks Trade’s clearing firm (appropriate email is newaccounts@interactivebrokers.com) along with the newly opened account number.
Zacks Trade does not accept physical stock certificates for deposit.
Try Zacks Trade
Up to $3,000 cash bonus when you open a ZacksTrade account.
Open ZacksTrade Account
Customer Service
Zacks Trade offers several support channels. There is phone service, an email address (support@zackstrade.com), chat support, and a fax number (312.265.9547). The main phone numbers are 312.265.9406 and 888.979.2257.
Client support is available Monday through Friday from 9:00 a.m. to 6:00 p.m. ET, except on exchange holidays. Even so, there are no branch locations, so in-person help is not available.
One notable advantage in this category is Chicago-based customer service. Interactive Brokers outsources much of its customer service to foreign countries.
Zacks Trade Fees and Commissions
Zacks Trade still has not joined the zero-commission crowd. Here is the broker’s commission schedule for equities and options:
Stocks & ETFs $0.01 per share, $1 minimum commission
(Greater than $1 per share)
Stocks & ETFs 1% of Trade Value, $1 minimum commission
(Less than $1 per share)
Options $1 for first contract, $0.75 for each additional contract
Mutual fund trades cost $27.50 each. Most bond trades are $3 for each security plus a percentage of face value. Cryptocurrency trades have a minimum commission of $1.75 but are capped at 1% of trade value.
Zacks Trade requires a minimum deposit of $250 to open an account. It also has a $15 monthly inactivity fee for accounts below $25,000 in assets. A client can avoid this fee by generating $15 in trading commissions per month.
Zacks Trade also has a withdrawal fee. The first withdrawal in a month is free. Every additional withdrawal during the same month costs $1 for an ACH, $4 for a check, and $10 for a wire.
Then there are the data-package fees. Although some subscriptions are free, many are not. Here’s a sampling:
| 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 |
Although Zacks Trade clearly is not a cheap brokerage firm, it does not charge anything for an outgoing ACAT transfer.
Margin
As a high-powered brokerage firm, Zacks Trade naturally offers margin accounts. An existing cash account can upgrade to margin trading on the website in the Account Management section.
Interest rates are currently very competitive. Here’s the tiered schedule:
|
Debit Balance
|
Margin Rate
|
|
$0 - $100,000
|
8.83%
|
|
$100,001 - $1,000,000
|
8.33%
|
|
$1,000,001 - $3,000,000
|
8.08%
|
|
$3,000,001+
|
7.83%
|
Zacks Trade offers portfolio margin for accounts with a minimum net liquidation value of $110,000. This service results in increased leverage.
Zacks Trade’s software shows margin requirements for an entered ticker symbol. Let’s take a look at these platforms now.
Zacks Trade Pro
A desktop platform called Zacks Trade Pro is available at no charge. This software is really Trader Workstation, which Interactive Brokers clients will recognize. It simply carries the Zacks Trade logo.
The software, regardless of the logo, has some very advanced capabilities. Here are some of the highlights:
- Order ticket with 19 order types and many advanced features
- Full-screen charting with many tools
- Time & sales data
- Asset scanners
- Lots of option tools
- Watchlists
- Alerts
- Economic calendar
- And much more...
The order ticket has an advanced tab where bracket orders can be found. There’s also an options-chain link that produces exactly that for the entered ticker symbol. A strategy builder can be turned on for quick selection of a multi-leg trade.
A chart on Pro can be expanded across the full width of the screen. That, of course, is very useful when working with one of the program’s 100+ technical indicators. A right-click menu includes trade buttons and much more.
In the lower-left corner, there are Mosaic and Classic tabs. These switch the layout, although most tools are available in both versions. A Learn tab is absolutely essential for beginners on this platform. This is a high-level program, so we strongly suggest spending time there. Plus, the platform has a demo login for practicing with no risk.
Client Portal
Next up is the client portal, which is a web-based trading environment. Although it is browser based, it is quite good. Another sophisticated trade ticket appears here with lots of order types. Charting is courtesy of TradingView, which means there are many graphing tools.
Although the website works best for account setup and management, it also has a decent mutual fund screener and deposit/withdrawal tools.
Mobile App
The third and final trading platform we’re going to review is Zacks Trade’s mobile app. This platform also packs a strong punch. During our trial of the app, we really liked the order ticket, which has a swipeable chart (from right to left). The ticket itself includes many advanced features, including a price-management algo tool and several professional-level trade types, such as mid-price and time-variant percentage of volume.
There are some good options tools here, which include not just Greek values but also profit-loss diagrams. There aren’t many pre-installed strategies, although it is possible to build custom orders.
A chart can be displayed horizontally, and there are three display styles: candlesticks, bar, and mountain. There are a handful of technical studies, although only five years of price data can be displayed.
Education & Security Analysis
Zacks Trade does not cater to beginning investors. As such, it does not provide much in the way of financial education. Although it doesn’t generate much market news on its own, some of its many add-ons focus on that area. Free subscriptions include 24/7 Wall Street, Dow Jones, Seeking Alpha, and The Motley Fool.
Zacks Trade also provides a lot of security-analysis tools on its trading platforms, especially its desktop program and client portal. On the website, a security’s profile has many data points, including:
- Analyst Forecast
- News
- Ownership
- Dividends
- Social Sentiment
- Key Ratios
- ESG Ratings
- Forecast: EPS
- Technical Insights
- Short Selling
Underneath the Research tab in the top menu, there are many useful market resources, including an economic calendar and a global exchange center.
The desktop system has lots of security-analysis tools. These include an advanced stock screener that can scan foreign exchanges and many options-analysis tools.
Zacks Rank Trading Tool
For the last 36 years, Zacks Investment Research, Inc. has maintained hypothetical model portfolios holding Zacks Rank #1 stocks. A hypothetical portfolio of Zacks Rank #1 stocks has beaten the market in 29 of the last 36 years with an average annual return of +24.15% a year; more than double that of the S&P 500’s +11.11%. These returns cover a period from 1988 to 06/03/2026.
The Zacks Rank Trading Tool gives traders the opportunity to search for Zacks Rank #1 stocks by theme, sector, and industry, and to buy and sell stocks from the tool right from within their Zacks Trade Brokerage account.
An account minimum of $250 (account balance or initial account deposit) is needed in order to access the Zacks Rank Trading Tool.
Day Trading and Swing Trading
Leverage: In a regular margin account, up to 4:1 leverage is available. In a portfolio margin account, the maximum goes up to 6:1.
Shorting: Shorting is possible with a Zacks Trade account. Some platforms show how many shares of a security are available for shorting.
Level II quotes: Zacks Trade offers not only Level II data on U.S. exchanges, but also Level II quotes on many foreign exchanges. In many cases, there is a charge for the data.
Direct-access routing: Zacks Trade offers direct access to market makers and ECNs on both American and foreign exchanges.
Routing fees and rebates: Zacks Trade offers some rebates on orders that remove liquidity.
Other Services
Initial Public Offerings: IPOs are not available at Zacks Trade.
Fractional-share Trading: Stocks, ETFs, mutual funds, and cryptocurrencies can all be traded in fractional shares/coins.
DRIP Service: Dividend reinvesting is available for a fee.
Individual Retirement Accounts: Roth, Traditional, SEP, and Rollover IRAs are available at Zacks Trade. An IRA can sign up for limited margin, which means it can day trade. The highest option level on an IRA is level 1. Zacks does not charge any additional commissions or fees for IRAs.
Extended Hours: Pre-market and after-hours trading sessions are available at Zacks Trade.
Periodic Mutual Fund Purchases: Not available.
Try Zacks Trade
Up to $3,000 cash bonus when you open a ZacksTrade account.
Open ZacksTrade Account
Updated on 4/14/2026.
Continue Reading
|