ZacksTrade promotion offers, bonuses, incentives for opening new brokerage or retirement account. Promo codes for $1.00 trades.

ZacksTrade Promotion

Trade stocks, options & ETFs for as low as $1 until 2020.

Open ZacksTrade Account


Account Requirements and Charges

ZacksTrade doesn’t charge an account maintenance fee, but they do require you maintain a minimum account balance of $2,500. However, they do charge you a data subscription fee ($10/month for U.S. stock data is an example of one package), but this can be waived if you trade at least 20,000 shares of stock or 55 options contracts each month.

While most brokers don’t charge for ACH transfers, ZacksTrade only gives you one free ACH transfer per month, with each additional one costing $1. There are additional fees if you want to make a wire transfer or send a physical check.

Margin rates at ZacksTrade are relatively low compared to the competition. The borrowing rates currently range from 4.3% to 5.7% depending on the margin balance.


ZacksTrade Promotion


Trading Platforms

The ZacksTrade website is strictly used for account management and doesn’t support trading. Users can choose between a web-based browser, a desktop and mobile app to do their trading. The web browser and desktop platforms offer most of the features you’d expect from any online broker, but the charting capabilities on the desktop platform are notably superior. The mobile app is straightforward in appearance and offers basic charting and real-time quotes. One notable functionality is they offer direct access routing on the app, which is a feature that many other mobile trading platforms don’t offer.

Investor Education

One of the stronger features of a ZacksTrade account is the free investor education and research resources it offers through partnerships with investment companies, such as Zacks Investment Research. They have partnerships with other online research providers as well, such as Morningstar, 24/7 Wall Street, and Seeking Alpha. The information on many of these sites is subscription only and so getting it for free through your brokerage account is a bonus.

Recommendations

We cannot recommend ZacksTrade for beginner investors. The broker-dealer simply doesn't have enough educational resources to help these people. The lack of 24/7 customer service is another lapse that just won't work. The broker's software is also difficult to learn.

ZacksTrade also would not be an ideal broker for small accounts because there is a $2,500 minimum deposit requirement. Other companies have lower thresholds.

Moving on to mutual funds, we once again don't recommend ZacksTrade. The broker has little emphasis on these products.

We do recommend the brokerage house for active traders who place a lot of trades under 495 shares - which is most of us. Also, anyone who wants to use margin will find this broker hard to beat.

ZacksTrade's low pricing and ability to trade many products make it one of the best companies for trading in IRA account.

We do recommend ZacksTrade for bond traders due to the broker's transparent pricing and good fixed-income search tools. And investors who need access to global markets will be really well served here.

ZacksTrade Promotion Summary

Trading with a ZacksTrade account could be a good fit for traders that find value in reading opinion articles and equity research from the many providers that ZacksTrade has partnerships with. ZacksTrade new account promotion offer is an excellent incentive to save money on trades.

The broker could also be an attractive choice for traders that place relatively small or mid-sized transactions. It probably would not be a good deal for traders with larger accounts or those looking to trade penny stocks as the commission structure would generally result in higher costs for these individuals than brokers with flat commissions.

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ZacksTrade Promotion reviewed by TopRatedFirms.com. Rating: 4.5