Zacks Trade Review Pros, Cons and How It Compares – NerdWallet.

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Limited time offer. Terms apply. Where Zacks Trade shines. Where Zacks Trade falls short. What Zacks Trade is best for. Zacks Trade at a glance. Full details about Zacks Trade. Is Zacks Trade right for you? How we review: our methodology. Access for international investors and to foreign stock exchanges. Because of the broker’s relationship with Interactive Brokers, Zacks is available in countries and territories; customers can trade on more than 90 international exchanges. Commissions: These are largely a thing of the past among brokers, but Zacks still charges a commission on stock and ETF trades.

Poor mutual fund selection: The company has no transaction-fee-free mutual funds, and no low-cost or low-minimum funds defined by NerdWallet as expense ratios below 0. Investors seeking access to a human broker. Investors looking to trade on foreign stock exchanges.

Stock trading costs. Options trades. Account fees annual, transfer, closing, inactivity. Number of no-transaction-fee mutual funds. Tradable securities. No cryptocurrencies or crypto derivatives offered. Trading platform. Three free platforms: Zacks Trade Pro offers extensive tools and customizable format for active traders; Zacks Trader is a scaled-down, web-based version; Client Portal allows for simple trades and provides access to account documents and balances.

The Handy Trader app lets you trade stocks, options and more, plus monitor your portfolio. More than 20 free research reports and access to 80 premium trials. Customer support options includes how easy it is to find key details on the website. Phone, chat and email support Monday through Friday, 9 a. Eastern time, including access to a broker at no extra cost.

These days, most brokers require no minimum to open an account of course, you must fund the account in order to purchase investments.

Zacks Trade is one of the few brokers we review that has held on to its higher account minimum, which creates a barrier to entry for beginners. Admittedly, beginners do not seem to be the target audience here. Zacks Trade earns points here for charging no account fees — the broker does not charge a fee to transfer out assets via ACAT as other brokers do.

There are also no inactivity fees or annual fees here. Zacks Trade offers stocks, bonds, mutual funds, ETFs and options, as well as fractional shares of stocks, an increasingly popular offering that allows investors to purchase small pieces of a stock, rather than a full share. As noted above, the company is not a good fit for mutual-fund investors — not only are no transaction-fee-free funds offered, but the company has no low-expense ratio funds defined by NerdWallet as funds with an expense ratio of.

There are plans to add crypto to the platform in the future. Zacks offers three trading platforms, all of which are free and available to all customers. Among other features, the downloadable Zacks Trade Pro lets you customize the layout to suit your needs, offers custom charting, more than technical indicators and an Options Strategy Lab to help you assess how profitable an options trade might be.

The web-based Zacks Trader is the lower-calorie version of the Pro platform, offering interactive charts, streaming market data and other tools. All of these tools are created by Interactive Brokers, another discount broker, and Zacks Trade simply rebrands them for its own customers more on this below.

Zacks also offers Client Portal, which provides access to account documents and balances and can facilitate simple trades, as well as a mobile app called Handy Trader. Again, Zacks mobile app, called Handy Trader, comes from Interactive Brokers, but it gets low marks by users.

It does boast fast execution, and it offers real-time data, instant orders and charts. Zacks Trade offers investors free access to more than 20 research and news reports, including Zacks Investment Research, plus about 80 subscription reports, at varying prices.

Since the company serves as an introducing broker to Interactive Brokers, it offers the same research as that provider. While Zacks’ phone and chat lines are staffed only during regular business hours 9 a. Eastern time, Monday through Friday , the company offers a rare service: access to a broker, for free.

Unlike pretty much every other broker out there, Zacks doesn’t charge an extra fee for making trades over the phone, so if you often find yourself without internet service, or just wanting a little extra help, Zacks could be a good solution for you. Zacks offers basically what Interactive Brokers offers — same platform, same mobile app — but at a slightly higher price in exchange for better customer service, including free broker-assisted trades. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs.

We adhere to strict guidelines for editorial integrity. We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The final output produces star ratings from poor one star to excellent five stars. Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology. Our Take 4. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

Zacks Trade. Account minimum. Learn more. Show details. Robust trading platform. Access to international exchanges. Cons Trails competitors on commissions. High account minimum. Compare to Similar Brokers Current Product. NerdWallet rating NerdWallet’s ratings are determined by our editorial team. Promotion None no promotion available at this time. Sign up now. Full Review Where Zacks Trade shines.

Zacks Trade is best for:. Active traders. Options traders. Crypto availability. Mobile app. Research and data. More details about Zacks Trade’s ratings.

Account minimum: 2 out of 5 stars. Stock trading costs: 4 out of 5 stars. Options trades: 2 out of 5 stars. Account fees: 5 out of 5 stars. Number of no-transaction-fee mutual funds: 1 out of 5 stars. Tradable securities: 3 out of 5 stars. Crypto availability: 1 out of 5 stars. Trading platform: 5 out of 5 stars. Mobile app: 3 out of 5 stars. Research and data: 5 out of 5 stars.

Customer support options: 3. How do we review brokers?



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