Zacks Trade is an online brokerage firm. The firm allows investors to trade on over 91 exchanges in 19 countries. The platform has traders in more than 200 countries. The company is part of Zacks Investment Research which is a well know investment research firm. The online brokerage lets investors trade stocks, options, ETFs, mutual funds and bonds.
Zacks Trade Overview
Account Minimum: $2,500
Stocks and ETFs Commissions (Greater than $1 per share): $0.01 per share *$3 minimum
Stocks and ETFs Commissions (Less than $1 per share): 1% of trade value *$3 minimum
Options Commissions: $3 for first contract + $0.75 per additional
Mutual Fund Commissions: (Greater than $1 per share): $27.50 per trade
Account Fees: None (One free withdraw every month, any subsequent withdraw in the same month is $1 for an ACH, $4 for a check and $10 for a wire)
Customer Support: Phone, Email, Chat, or Social Media
Mobile App: Available on Apple and Android devices
How Zacks Trade Works
Zacks Trade lets you invest in stocks, ETFs, options, corporate bonds, government bonds, and mutual funds. Zacks Trade offers free broker assisted trades for investors. The firm offers a cash account and a margin account. When you open a cash account, you are only allowed to trade with the funds you deposit. If you open a margin account you will be able to borrow funds for investing purposes. The firm offers a demo paper trading account that lets you make simulated trades with $1 million in paper trading funds.
Zacks Trade Tools and Platforms
Zacks Trade Pro is free for all clients. The platform lets you trade stocks, options bonds, and funds in over 19 countries. Zacks Trade Pro lets you choose from a robust collection of tools including:
- Algos – Zacks Trade Pro Stock algos includes arrival price, percentage of volume strategy, TWAP, and VWAP.
- Basket trader – This tool imports baskets of stock orders and executes them quickly.
- Market Scanners – helps you screen stocks, options, mutual funds, bonds, and more based on parameters you specify.
- Options Strategy Lab – with this tool you can enter your price or volatility forecast for the underlying stock and view a list of potentially profitable strategies.
- Profitability Lab – this tool offers simple options probabilities that fully adjust based on your forecasts.
- Rebalance Portfolio – you can quickly and easily rebalance your entire portfolio based on you investment risk tolerance and goals.
- SpreadTrader – This tools allows you to create and manage complex option orders easily. You can also easily close or reverse any spread positions.
- Volatility Lab – provides a comprehensive toolkit of volatility tools providing a snapshot of past and future readings.
The company also offers a browser-based trading platform Zacks Trader which is a scaled down version of Zacks Trade Pro. The firm also has an app available for phone or tablet, which is accessible on the App Store and Google Play called Handy Trader. Zacks trade offers investors get access to 20 free research subscriptions and 80 premium trials to help you find opportunities in the market at varying prices. The research offered includes Dow Jones, Morningstar, Seeking Alpha, The Motley Fool, Thomson Reuters, Benzinga, and Zacks Investment Research.
Promotions
Zacks Trade is offering a promotion for investors. You can get Stocks, Options, and ETF trades from as low as $1 until 2020.
Summary
Zacks Trade is an online broker that offers stocks, options, ETFs, mutual funds, and bonds. The firm provides research and tools for investor. Zacks Trade stands out with its long list of free research from reputable sources that is accessible to investors. The company is a good fit for self-directed investors and they even offer free broker assisted trading if you want access to a human broker.