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Zacks Trade Review

Zacks Trade is an online broker committed to assisting investors and traders to make a profit. This assisted brokerage service comes at no extra charges thus making Zacks Trade worth paying attention to.

The platform is also noted to offer penny per share trades which makes trading on it look juicy. A lot of data and information have been researched to give this Zacks Trade’s review so that you may have a better understanding and stats about the company. You can also go through the chart below to help you in the process of decision making.

Popularity

Zacks Trade no doubt is at its infancy stage but at the current rate at which Zacks Trade is growing, there is a huge potential that the upward trend would significantly increase the popularity of Zacks trade over the next few years. This is because Zacks trade is gaining more recognition and acceptance in the highly competitive trading market.

They presently have a follower of about 328 people on Twitter. The exact figures of how many followers it has on Facebook are not given but it is quite obvious that they presently don’t have many followers generally. This shows that Zacks trade has is yet to be well-known on mainstream media.

However, more analysis of statics shows that Zacks Trade will become a preferred option for quite a variety of trading for traders and investors. For instance, the firm’s trading resources is so extensive, that it’s definitely a catch for both novice and experienced traders alike. Since a lot of people are trying out trading, this has a high probability of attracting a significant number of beginners to the platform, boosting its popularity among traders. 

However, generally speaking, Zacks Trades can become more attractive to traders in years to come, because they provide free access to trading information and other customer friendly services that can boost their market presence and increase their popularity.

QueryAnswerReference URLDate
Number of users (approximate)––26 Aug 2020
Website traffic (estimated)N/Ahttps://www.similarweb.com/website/zackstrade.com/26 Aug 2020
# results on web9.7mhttps://www.google.com/ 26 Aug 2020
Search volume Google400https://searchvolume.io26 Aug 2020
Twitter followers328https://twitter.com/zackstrade26 Aug 2020
FB followersNot publichttps://www.facebook.com/ZacksTrade/26 Aug 2020
How popular on mainstream media?LowBenzinga, MoneyCheck, NerdWallet26 Aug 2020
Negative media?None–26 Aug 2020
Notable awards––26 Aug 2020

User Rating

The present rating on social media platforms and online review sites are quite few. Statics shows that the site has a 43% positive user rating, and rates about 7 on Trustpilot but 0 on SiteJabber.

Some of the reasons for these low ratings are the complaints on slow registration process and too many detailed questions that is been asked. However, this trend is like to change soon as there are also compliments like, the ease of use and the company’s average fees.

However, you shouldn’t make your decisions solely based on just reviews because, although, their general rating data available is low, the overall average rating is 3.65/5 based on less than 50 reviews.

QueryAnswerReference URLDate
# users rated on user platforms7 on TrustPilot, 0 on SiteJabberhttps://www.trustpilot.com/review/zackstrade.com
https://www.sitejabber.com/reviews/zackstrade.com
26 Aug 2020
Percentage of positive reviews out of user reviews43%https://www.trustpilot.com/review/zackstrade.com
https://www.sitejabber.com/reviews/zackstrade.com
26 Aug 2020
Common complimentsEase of usage and low feeshttps://www.trustpilot.com/review/zackstrade.com
https://www.sitejabber.com/reviews/zackstrade.com
26 Aug 2020
Common complaintsRegistering slow and too many details askedhttps://www.trustpilot.com/review/zackstrade.com
https://www.sitejabber.com/reviews/zackstrade.com
26 Aug 2020
Positive feedback on Twitter?Close to no interaction on Twitterhttps://twitter.com/zackstrade26 Aug 2020
Negative feedback on Twitter?Close to no interaction on Twitterhttps://twitter.com/zackstrade26 Aug 2020
App rating (summary)An average rating of 3.65 / 5 from almost 50 reviewshttps://play.google.com/store/apps/details?id=handytrader.app
https://apps.apple.com/us/app/handy-trader/id429530128
26 Aug 2020

Background Information

Zacks Trade is an offshoot of what was created about 40years ago by Len Zacks together with his brother, Ben Zack’s when he founded Zacks Investment Research to assist investors to increase portfolio performance by using the patterns in Estimate Revisions.

This step began around 1978, when Len Zacks published documented and published quite an influential paper that announced his investment research approach as an innovative one.  This was actually what birthed the Zacks investment Research (ZIR). The investment firm is based in Chicago for about 30years and it is from it that the broker services of Zacks group was birthed.

As of now, in North America, ZIR is holding position as the second largest independent research company and the total assets of Zacks companies are more than $5 billion.

Company public/privatePrivatehttps://www.zackstrade.com/about-us/
Revenue Data––
CEO and bioLen Zacks – Alongside its brother, Ben Zacks, he founded Zacks Investment Research more than 40 years ago to help individual investors use the patterns in Estimate Revisions to improve their portfolio performance.https://www.zackstrade.com/about-us/
Number of employees––
Notable investors (private companies)––

Security

Zacks Trade have been noted to have a good security protocol that is expected of online trading platforms. They have the standard security measure that guarantees that each trader has their own personal password and username with a security code device that generates random numbers that must be used every time you are to log in.

Zacks Trade offers additional security by using 128-bit SSL encryption to ensure security in the connection present between Zacks Trade and your computer. Zacks Trade Pro users can also allow only choice IP addresses to access their account.

QueryAnswerReference URL
HTTPS CertificateYeshttps://www.zackstrade.com/
2FA ?Yeshttps://www.zackstrade.com/faq/trading/platforms-faq/
Device monitoring?Yeshttps://www.zackstrade.com/account-protection/
New device extra security?Yeshttps://www.zackstrade.com/account-protection/

Fees & Offering

Zacks Trades have bigger commission and an impressively fair offerings than their competitors. However, when you consider the several competitive offers by competitive trading platforms, you may come to the conclusion that Zacks Trade doesn’t favor investors that are beginners who will have to come with a minimum investment of $2500.

It is also advisable that you do a lot of careful research on the fees and offerings of Zacks Trade as each of their platforms has their own commission and fees that apply. A few of the fees that you should come across in your research are: fixed income fees, margin fees and also their mutual fund fees.

QueryAnswerReference URL
Account minimum$2,500https://www.zackstrade.com/commissions-fees/
Account fixed feesNonehttps://www.zackstrade.com/commissions-fees/
Fractional shares?––
Margin costsVarieshttps://www.zackstrade.com/wp-content/uploads/2020/08/Zacks-Trade-Pricing-Guide-August-2020.pdf
ETF buying fees$0.01 per sharehttps://www.zackstrade.com/commissions-fees/
Stock buying fees$0.01 per sharehttps://www.zackstrade.com/commissions-fees/
Option buying fees$1 for First Contract+ $0.75 per additionalhttps://www.zackstrade.com/commissions-fees/
Short selling fees––
Futures buying fees––
Future options buying fees––
Cryptocurrency fees––
Fixed income fees0.025% * Face Value + $3 per bondhttps://www.zackstrade.com/commissions-fees/
Mutual funds fees$27.50https://www.zackstrade.com/commissions-fees/

Trading App

The information on Zacks trade’s app is not that much as there are just about 50 reviews available when you combine both reviews on Apple store and Google Play Store. This low presence makes it difficult to come up with a conclusion using the reviews.

However, there are three trading platforms available on Zacks Trade for all customers which comes freely.  This trading platforms offers a lot of powerful trading tools that will help you to analyze the market well, make your trades and generally be in charge of your account anywhere.

The platforms include the Zacks Trade Pro, the Web-based Traders Option and the Client Portal Option. Zacks Trade Pro allows you to customize your trading layout design to meet your needs. You are also allowed to do custom charting with a lot of technical indicators which comes with an option for Strategy Lab. This really makes it easy for you to know if a trade will be profitable or not.

The Web-based Zacks Trader Option is quite a lower and more adapted version of the Zacks Trade Pro platform and can allow you to stream market data while also enjoying interactive charts and other trading tools.

The Client Portal Option on Zacks helps in making simple trades by allowing accounts balances and documents to be accessed leveraging on their mobile app option called the Handy Trader.

All of these account for the common positive comments in the review that the app is a pretty good one with all the stocks listed. However, there is a potential of improving the review if more features are added.

QueryAnswerReference URL
Android app # installs10K+https://play.google.com/store/apps/details?id=handytrader.app
Android app # reviews44https://play.google.com/store/apps/details?id=handytrader.app
iPhone app # reviews5https://apps.apple.com/us/app/handy-trader/id429530128
Android app rating4.3 / 5https://play.google.com/store/apps/details?id=handytrader.app
iPhone app rating3 / 5https://apps.apple.com/us/app/handy-trader/id429530128
Common compliments on appPretty good app and has all the stocks listedhttps://play.google.com/store/apps/details?id=handytrader.app
https://apps.apple.com/us/app/handy-trader/id429530128
Common complaints on appA lot of features need to be addedhttps://play.google.com/store/apps/details?id=handytrader.app
https://apps.apple.com/us/app/handy-trader/id429530128
Weighted average app rating3.65 / 5https://play.google.com/store/apps/details?id=handytrader.app
https://apps.apple.com/us/app/handy-trader/id429530128

Final conclusions:

Zacks Trade is an upcoming trading platform and as such, it still needs to do a lot of work to be more attractive to novice investors especially because of the high fees. Also, options for cryptocurrency trading and fractional shares would also need to be included for investors looking for cheap, quick and safe trades. This is necessary if the company wants to cash in on the recent wave of cryptocurrency.

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