Zacks Trade Review – the best online stock trading account?



If you’re searching for the best online stock trading account and haven’t heard of Zacks trade – please keep reading. Although they may not be as well-known as some of the other ones (E-trade, Ally Invest, etc), they have decades of investment knowledge packed into their interface.

What is Zacks Trade?

Zacks Trade is an online trading platform that is offered by one of the leading investment research providers. Started in Chicago around 1978, Zacks Investment Research has been consistently operating. This was all started by Len Zacks when he published a highly influential paper which documented an innovative approach to investing: analyzing earnings estate revisions to predict stock movements.

Although Zacks manages $5 billion in assets in their own company, they have opened Zacks Trade to bring that same investing knowledge and background to everyone else!

Here are the key points:

Low cost pricing:

Here is the fee and commission structure:

  • Stocks and ETFs (Greater than $1 per share) – $0.01 each with a $3 minimum
  • Stocks/ETFs below $1 cost have a commission of 1% of the principal with a $3 minimum
  • Options – First contract is $3 and each following is $0.75
  • Broker assisted trades are free
  • Fees – No ongoing fees
  • $2500 minimum to open an account

Compared to other online brokers, this is fairly cheap. Just for comparison, E-trade charges $6.95 per Stock/ETF trade. If you want a broker assisted trade, that’s $25. Zacks charges nothing for broker assisted trades. Definitely some food for thought.

Some people are a fan of using RobinHood for trading as well, but there is a hidden catch with how they do business as well. Your account may be free to set up and stocks may be free to purchase but they charge very high fees when you sell. According to their site, there is a $13 fee per $1,000,000 of principal. Basically, you’re charged $13 when you sell a stock. Ouch.

Who is this good for?

After researching this online trading platform for a while, it does seem to gravitate towards the more advanced users. I think with some practice, a novice investor could get started – especially with the help of YouTube.

Zacks Trade does offer a fully customizable workstation which really lets the user tailor fit how they want their interface to be. Again, I think this would appeal to a variety of user types because it lets the more advanced users bring in more data screens that would appeal to them and conversely let the newer investors simplify their layout.

Free tools

Options Strategy Builder – This option lets you select a certain strategy to approach for trading, specifically if you are more into day trading. If you want to automatize your trading, this is a tool to look into.

Portfolio builder – This tool lets you craft a portfolio based on the specifications you provide, along with feedback from the software. It will even compare your strategy against any benchmark of your choice.

Mobile trading

If you’re someone who is checking their stocks frequently, you’re most likely doing it from your phone. Zacks Trade lets you do this from their app – Handy Trader, which you can download on the App Store or Google Play store.

Conclusion

If you’re looking for a low cost stock trading platform, Zacks Trade is definitely a contender. Is it the best online stock trading account? That depends on what you’re looking for. It boasts plenty of free features and research backed tools that let you take your investing to the next level. If you’re new and just starting with stock trading, it can also be helpful as it gives you a very low barrier to entry and allows you to learn with the support of decades of research.

 

Did you like this article? Check out some of our other ones:

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16 thoughts on “Zacks Trade Review – the best online stock trading account?

  1. Hi Dave, 

    Thanks very much for sharing your review of Zacks Trade. I have never actually heard of this before (and I’m in finance) so it’s great to see some new innovation come through. 

    I’m interested in hearing your thoughts though – what stage investor does Zacks Trade suit? Can people with lower balances use the service or is it for larger balances only?

    Cheers, 

    Shane

  2. I haven’t tried any of the online trading platforms. I’m old-school, where you look up stocks in the newspaper and keep track on a graph: that kind of old. Are you really able to do buying and selling of stocks directly on an app from your phone, or is that just for keeping track of market changes? When you say “broker assisted,” does that mean you have to use their broker or can you make the sale on your own? It seems that I need to be doing some more reading to catch up with the times!

  3. Hi,

    I had been looking into stock trading for some time before I actually went into affiliate marketing.  I was not successful at trading and it was too confusing for me.

    The platform that you mentions looks good.  I like that hey have a minimum of $2,500, which I think means there are more serious traders in there.  The platform that I used had a minimum of $10, which I found good for my practicing, but not so good for serious trading.

    Also, they have the free tools to use to aid you in learning how to trade.  That is very important.  Those tools help you get a better idea of what is going on, especially if you are a newbie.

    Thanks for bringing to awareness this platform,

    Oscar

  4. I’ve never traded stocks before because it all looks so complicated, but I know my grandfather made quite a bit of money with it. Do you have a tutorial or something for beginners? And do you think that Zack’s would be the best place to start for a beginner? If not, what would you recommend? Thanks in advance!

    1. I would recommend searching on Youtube on how to get started with stock investing. Research is key before beginning any adventure involving money.

  5. Hey,Nice website but a couple of things concern me about it, First if Zach’s trade’s is so good, question, why are you not using it? If so you should be showing some stats.  I believe the only legit U S trading platform is Nasdaq. I have dabbled in the online trading arena and they are all a bunch of scams. You go from trading the stock market to making money on craigs list. That is quite a broad spectrum. Personal Capital is an online financial advisor and a wealth management company. Don’t get me wrong but this seems to be just all over the place. I hope you are making so much money that you need all these company’s, but me i’m just trying to make an Amazon sale.

    All the best to you

    Robert

    1. You seem a bit critical Robert, but let me help you soothe some of your concerns. My site is about creating opportunities to improve your financial life through a variety of ways. The key word is variety. If you want to make a side hustle focused on Uber or Craigslist, you can do that. If you’re interested in stock investing, you can do that too. There are plenty of options to improving your financial future, which means that you do not need to follow a single path. 

      Personally, I have invested in individual stocks, mutual funds, real estate, created multiple craigslist, Ebay and Etsy businesses. The world is full of options. All I try to do is bring them to you 🙂

  6. I was using some trade platforms before, I have to say that this one looks a very good one.

    By example, the one I’ve been using, wasn’t good for beginning investors, which I was, and I lost money because of it.

    If I knew Zacks Trade already before, I certainly would have been using this one.

    I will check it out and hopefully I can get my investment back.

    Thanks for sharing it with us!

    1. The thing with stocks is that when they go down, most people panic. The trick is not to panic. Do not invest with money you will need to pay your bills. This money needs to be at play for the long term!

  7. I have heard about online trading platform, I think is not easy to be in the business of stock trading. The investment is in thousands, is it safe, do we get it back with revenue? Comparing it with others as you said it is cheaper. Any way, this business is not for me. Thank you for sharing this review 🙂  

    1. If the stock has a dividend, you will get money on a quarterly (every 3 months) basis. Usually, people just reinvest this dividend into more stock to improve their returns. 

  8. Fill months a go, my husband was think to invest in stocks. The minimum he found at trad company was for $ 5,000.00. I was think this was allots money but he said was not. This was the list that he could starts.

    I didn’t alowed him to do that because he said was a risk, we could gain allots more, a little or lose everything, so I got scared. Yea, you can say with a cold feet.

    Now that I am reading your Article about Trades, I can see alots more clear how this works.

    I haven’t heard of Zacks trade before, but I think they are the ones that can work hard to multiplay your money right?

    Question: You said if I am novice investor or new and just starting with stock trading, I can learning with a YouTube?

    For sure I am gone show your Article to my husband, because now after I learn so much about Zacks Trade I am more convenced.

    Cheers to your success,

    Telma

    1. If you’re newer to trading, I would recommend getting an education. Youtube is useful, as well as Investopedia. I would not invest with the full $2,500 until you’re more confident. It’s very doubtful that you will lose ALL of your investment. If the price of your purchased stock goes down below the price you paid, you do not need to sell it. Just wait for it to return to where it was or higher. 

      Play for the long term!

  9. Trading is an interest that I get nervous about learning because I don’t know where to get reliable information. I heard that Etrade has a free account that you can setup, and practice trading with points as if it were real coins.  I haven’t checked that one out but I have checked out robin hood, and I am picking up a little here and there.

    For a beginner 2500 is kinda steep if you have no clue what to do next in trading, so is there any guaranteed security for the newbie? Have you been using this app? Has it helped your trading experience?  

    I’m going to check this program out because I am ready to soon get started in trading.

    Thanks for sharing,

    Shannon

    1. I’m definitely considering giving this app a try. It’s very different. I used to use Tradeking but then they became AllyInvest and they changed my account. If I start looking into trading individual stocks again, I will try this out.

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