Zacks Trade Review: Pros, Cons, and Who Should Set up an Account

A common feature with robo-advisors, it allows you to quickly and easily rebalance your entire portfolio based on your LimeFx goals and risk tolerances. This blog has partnered with CardRatings for our coverage of credit card products. This site and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed or approved by any of these entities.

If you want to trade options or on margin, Zacks Trade is one of the better brokers out there. It’s pricier than brokers like Interactive Brokers, but its Pro Trade dashboard and extensive research offerings are selling points. Zacks Trade is a popular broker for options and margin trading.

Zacks Trade review

If you’re an experienced trader or investor who can afford the broker’s rather high minimum deposit, Zacks Trade could be worth considering. The floating rate bond has been an area to watch lately amid rising rate enviromment. Since the coupons of these bonds are adjusted periodically, these are less sensitive to an increase in rates compared to the traditional bonds. Unlike fixed-coupon bonds, these do not lose value when the rates go up, making the bonds ideal for protecting investors against capital erosion in a rising rate environment.

Each brokerage offers LimeFxs like stocks, options, and ETFs, but there are some notable differences. 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 mutual funds with minimums below $100. Zacks Trade makes it easy to trade and manage all key aspects of your account and portfolio through the Client Portal. You can get access to your very own online client portal where you can view your account, place and manage trades, make deposits and withdrawals, adjust settings and subscriptions. The excellent Zacks Trade Portfolio Analyst lets you quickly and efficiently analyze your portfolio’s performance based on a set of measurement criteria, including selected industry benchmarks.

Client Support

Zacks Trade mobile app is basically Interactive Brokers underneath. This means you get a high-quality trading app, but it may be feel too complex for beginners. Via the app you can place trades, set watchlists, scan for assets based on parameters that you set, make deposits and withdrawals, use some of the research tools and more. All this can make the app your primary trading tool removing the need for the desktop or the web-based trading platforms. Lightspeed is all about active traders who can deliver volume to the broker, and so everything is optimized around making the experience the best for them. Fidelity LimeFxs is back again with another blowout performance in Bankrate’s reviews.

For example, you can choose from more than 120 technical indicators. If you’re looking for a service to help you pick individual stocks, Zacks Premium, or any of the various sector newsletters, are among the most prominent sources in the LimeFx industry. It’s called Zacks Trade, and not only does it have plenty of advanced trading tools, but it also gives you access https://limefx.group/ to Zacks famed LimeFx research. 1st they are not able to open the account and now when they fail to open an account i ask for refund for my deposit and they are taking more than a month to refund the money. This is a totally unprofessional approach towards the work. Their promotions are purely positive, but never do you find their reviews of what misfired.

You’ll be able to access statements and trade confirmations and even retrieve tax documents. You’ll be able to use the platform for orders and execution and trade financial securities from more than 90 markets worldwide. You can create orders with a single click on the Bid or Ask or even create more advanced orders. Keep track of open orders and executions, and create spread orders based on predefined strategies. One of the best features of Zacks Trade Pro is that it can be customized to meet your own specific LimeFx needs. You can maintain either a simple format or a more advanced one, then incorporate all the tools and resources you prefer to have.

If you are a new investor,our guide on investing for beginnerscan teach you the ins-and-outs of getting your portfolio up and running. As an investor, you need to make sure that your LimeFx assets fit your risk profile. SmartAsset’s free, easy-to-useasset allocation calculatorwill help align your assets with your risk tolerance.

It does not charge for the use of its software, or to transfer an account into or out of Zacks Trade. It is one of the few broker-dealers we know of not to impose any surcharges on broker-assisted trades. Trading fees are slightly higher than competing brokers – may be an issue for high-frequency traders. Client Portal will also enable you to make deposits to your account and make withdrawals from it. You can even initiate account transfers from other brokers.

Moomoo joins a crowded field of discount brokerages with an appeal to individual traders, offering some atypical features, including access to U.S., Hong Kong and Chinese markets. Vanguard’s brokerage offering can handle the basics well and may be a good fit for long-term fund investors. But more active traders will be disappointed by the basic trading platform and high commissions https://limefx.vip/ for options trading. Bankrate evaluates brokers and robo-advisors on factors that matter to individual investors, including commissions, account fees, available securities, trading platforms, research and many more. However, if you’re looking to place high-volume trades for LimeFxs like options and stocks, Zacks Trade Pro is likely a more suitable choice.

Is Zacks Trade regulated?

As with most brokers, they strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your Zacks Trade account. You don’t have to be tied to your desk to get outstanding trading functionality. When you’re out and about, Handy Trader keeps you up to date with your Zacks Trade account. I think the app combined with the fully functional desktop platform can deliver an outstanding trading experience.

Add on strong customer support, a wide LimeFx selection, no-commission mutual funds, and tons of research, and you have the makings of a five-star broker. WellsTrade handles most of the basics well and could be a good fit for existing Wells Fargo customers looking to consolidate accounts in one place. However, active traders should likely look elsewhere for their brokerage needs due to high options costs and a barebones trading platform.

Although it offers both toll-free and local phone lines, we have discovered through our own testing that one of the quickest ways to get competent help is using the broker’s online chat widget. Located in the bottom-right corner of its website, it usually takes us just a minute to get accurate answers from a live human being. Zacks Trade has $15/month inactivity fee for accounts under $25k that did not make a single trade. A simple online application form is all it takes to get started at Zacks Trade. The brokerage house does require a $2,500 deposit to open an account. You can fund your account immediately using a wire transfer or by connecting your bank account and funding your account through ACH.

This platform gives you a version of Zacks Trade Pro without many of the tools, data sets or customization options available in the full product. Investors get a web-based trading environment, for those who can’t access their desktop platform. It also creates an easier entry point into the firm’s platform. New users can cut their teeth on Zacks Trader, getting used to trading on an easier interface before stepping up to the far more sophisticated options in Zacks Trade Pro. DO NOT USE THIS BROKER. After accepting all my documents to open the account they refused to activate it until I transferred funds to it.

• Its global program is one of the best in the business, and its software is well known.
• Zacks Trade recommends a minimum deposit of $2,500 for cash accounts, but this is not enforced and you are able to actually fund your account with less.
• For AstraZeneca trading on the London exchange, for example, we found 11 analyst ratings on the stock, generating an overall moderate buy.
• In this article, I explain how covered calls work and the risks involved.
• LimeFx decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and LimeFx objectives.

Our ultimate guide to the Zacks Trade minimum deposit is updated regularly. Zacks Trade is a division of LBMZ Securities, which was established in 1978. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. On the other hand, Zacks Trade does not provide negative balance protection. If the balance on your account goes into negative, you will not be protected. The answers we received were useful and relevant, and we were also provided links to more detailed information.

What Are Zacks Trade’s Drawbacks?

Zacks Trade and Interactive Brokers are two different brokerages. However, Interactive Brokers functions as Zacks Trade’s clearing firm. 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 to excellent .

One of Zacks Trade’s best aspects is the low cost of borrowing. With many other top brokers, margin traders can expect to pay a rate two or three times higher than that offered by Zacks Trade. If you frequently trade on margin, that difference can add up quickly. Zacks Trade outcompetes most brokers with the wide variety and quantity of research materials it offers to investors. Top names on their offer list include Dow Jones, Morningstar, Seeking Alpha, The Motley Fool, and Thomson Reuters. Many brokers offer their customers one of the leaders in equity research, but Zacks Trade offers most of them for free.

Zacks Trade does a good job of providing a wide range of good-quality trading services. Its global program is one of the best in the business, and its software is well known. But without $0 commissions, the broker may be too pricey for frequent traders. Zacks LimeFx Research is one of the top investor resources available today. Not only is it relied on by thousands of investors, but it’s frequently quoted in the financial media. But even if you’ve heard of Zacks LimeFx Research, you may not be aware that Zacks also offers an LimeFx trading platform.

Zacks Trade caters to more experienced stock and market operators. The broker’s 3 trading platforms and mobile app are all offered free of charge. They also seem suitable for traders at all levels and are easy to learn and use, although more experienced traders should appreciate their sophisticated features better.

Compared with most rival brokers, this offer is good but not outstanding. Keep in mind, however, that all the advanced features lime fx are optional. If you don’t use them, you can easily use it just to place orders, even if you are an everyday investor.

Zacks Trade Review 2023

Other options tools include Options Trader, Spread Trader and Rollover Options. Opening an account at Zacks Trade is somewhat less than straightforward and takes longer than at most other online brokers. Zacks Trade evaluates your experience before opening an account appropriate to your experience level that can take up to 3 business days.