Whether you’re new to trading stocks and bonds or you’ve been doing it for years, Zacks Trade is an online and mobile platform that makes it easy to trade and save money while doing it. This company is dedicated to helping you make trades without paying high fees.
In addition to its competitive trading fees, Zacks Trade refuses to charge its customer a maintenance fee or an inactivity fee. You can easily trade on the New York Stock Exchange or one of the other global markets from your phone or computer.
When you choose Zacks Trade, you enjoy a margin rate as low as 3.56%. This allows you to make more trades when you need to act quickly on a stock you believe is about to take off.
About Zacks Trade
As a division of LBMZ Securities, Inc., Zacks Trade is an online and mobile platform to trade stocks and bonds, not only in the United States but also in the global markets. This company was designed to make it easier for you to start trading.
Zacks Trade is an American company with its headquarters located in Chicago. You can sign up online and make the trades you want to make. It’s also a platform that offers research methods to help you make smart trades.
This trading platform invites investors worldwide to use its services, which act as your online broker. Suppose you’re interested in day trading or just learning about the smart moves to make in investing. In that case, Zacks Trade is an excellent option with competitive commission rates and extensive research material available for you to use.
Zacks Trade’s Unique Features
What makes Zacks stand out is that it offers three trading platforms. These trading platforms are all free and available to users. One of the platforms is Zacks Trade Pro which lets you customize the interface to suit your needs aside from the custom charting and more than 120 technical indicators available. There is also an Options Strategy Lab to help you assess how profitable an options trade might be.
There is also a much simpler version of the Pro platform, which is the web-based Zacks Trader. This platform offers interactive charts and streaming market data aside from other tools.
These different platforms are created by Interactive Brokers, another discount broker. Zacks also offers a Client Portal, allowing users access to their account documents and balances. In addition, it has basic features that can let you facilitate simple trades, as well as a mobile app called Handy Trader.
With Zacks Trade, you can invest in American companies and global markets. You can trade online or with the company’s mobile app from anywhere. Their competitive rates on trades help people starting investing take the leap.
Along with competitive pricing on trades, Zacks Trade offers detailed research and ways to research stocks and companies in which you might be interested. This way, you can make an informed decision and have a better chance of seeing your stock prices rise.
This company also offers margin rates of 3.56%, so you can invest quickly when you have a hot tip. Zacks Trade makes it easier for the average investor to invest in stocks in America and worldwide.
Zacks Trade Services
Zacks Trade is an investing company, and the services they offer help you to trade:
- Penny stocks
- OTC stocks
- Mutual Funds
- Forex (Only for exchanging currency)
When you’re investing, you should diversify your portfolio with a variety of these options. First, consider investing in markets other than the New York Stock Exchange. With Zacks Trade, you can invest in many markets worldwide.
The website also offers you resources that you can use to research companies and mutual funds. While it isn’t a service, the research feature helps you make smarter trades with your money. You can access free subscriptions about the financial market and money matters in a single location.
Zacks Trade offers its investors free access to more than 20 research and news reports, including Zacks Investment Research. Aside from this, close to 80 subscription reports vary by price. Zacks is an introducing broker to Interactive Brokers, which is why it offers the same research as the provider.
Zacks also has access to international investors and other foreign stock exchanges. Because of its relationship with Interactive Brokers, Zacks is available in 218 countries and territories. Users can also trade on more than 90 international exchanges worldwide.
Cost of Using Zacks Trade
You pay a transaction fee when you’re trading stocks and other financial instruments. Typically, you pay a price for each trade. However, with Zacks Trade, you pay one cent for each stock or ETF share that you trade, and there’s a dollar minimum for each transaction, so you’re better off buying and trading stocks in groups of 100, so you don’t pay extra to meet the minimum.
When you’re buying options, Zacks Trade charges a dollar for the first contract and .75 cents for each additional one. You also pay a fee when converting concurrency of around two dollars for each conversion.
You’re required to invest a minimum of $2,500. However, Zacks Trade doesn’t charge account fees — the broker does not charge a fee to transfer assets via ACAT, unlike other brokers. In addition, there are no inactivity fees or annual fees. Plus, you get one free withdrawal each month, but after that, you pay a dollar for an ACH payment, four dollars to receive the funds by check, and $10 for a wire transfer.
Also, while some research options are free, a few require a paid subscription. The cost varies by the subscription that you wish to purchase, and you can purchase through your dashboard.
How to Get Started With Zacks Trade
It’s easy to get started with Zacks Trade. You begin by filling out the company’s online account application. The application gathers your personal information, and you create an account with your email and a password.
As part of the application process, you answer some questions about the investments that interest you and the goals you hope to realize with investing. Once you complete the information, a Zacks team reviews it and contacts you with your account options.