Rating Index

Pros

Access to extensive research tools and resources, including 20 free research subscriptions and premium trials.

Customizable trading platform with advanced features suitable for active traders, including over 120 technical indicators.

Variety of account types available, including traditional and Roth IRAs, as well as custodial and trust accounts.

Cons

High account minimum of $2,500, which may deter new investors or those with limited funds.

Commission structure for stocks and ETFs, charging $0.01 per share with a $1 minimum, stands out negatively in an industry moving towards commission-free trading.

Monthly inactivity fee of $15 for accounts under $25,000, which may penalize less active investors.

Zacks Trade broker Accounts

Zacks Trade Account Type

Zacks Trade offers a variety of account types to cater to different investor needs, including:

Individual and Joint Brokerage Accounts: Suitable for individual investors or multiple investors who want to share an account.
Custodial Accounts: Designed for minors, managed by an adult until the minor reaches the age of majority.
Trust Accounts: For individuals looking to manage their assets through a trust.
Retirement Accounts: Including Traditional IRAs, Roth IRAs, and Rollover IRAs, allowing tax-advantaged retirement savings.
Business Accounts: Options for corporations, partnerships, and limited liability companies.
Margin Accounts: Available with a minimum balance, allowing investors to borrow funds to trade.
Portfolio Margin Accounts: For larger portfolios requiring a minimum of $110,000 in net liquidation value.

The minimum investment to open an account is $2,500, which is higher than many competitors.

Zacks Trade Broker Account Opening Process

To open an account with Zacks Trade, follow these steps:

Visit the Zacks Trade Website: Navigate to the Zacks Trade homepage.
Click on "Open an Account": This option is prominently displayed on the website.
Complete the Application Form: Fill in your personal details, including your name, email address, and phone number.
Select Account Type: Choose the account type that best suits your trading needs from the available options.
Verification Process: Provide identification and residency proof. You may need to answer questions regarding your trading experience and financial situation.
Review and Submit: After completing the application, review all details and submit your application.
Funding Your Account: Once approved, log in to your account and deposit funds. The minimum funding requirement is $2,500.