Pros and cons and who should create an account

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general evaluation

Do you want a suitable Zero for you?

TradeZero is an extension

Online Mediation

It offers a wide range of tools and platforms for active traders and day traders in the US and abroad. The brokerage mainly offers stocks, ETFs, and options, and has four different platforms – Trade Pro, Trade Web, Trade Free, and Trade Mobile – that users can take advantage of.

Additionally, it offers commission-free and short-selling trading tools, and advanced users may appreciate its direct order routing features and premium services.

TradeZero vs Zacks Trade

If you are an active trader or a day trader, both TradeZero and Zacks Trade are solid options. However, TradeZero is the best choice for day traders who want access to features such as direct order routing and short selling locators.

Zacks Trade is also a good option for active traders, but offers fewer platforms than TradeZero. However, it has an edge over TradeZero when it comes to choosing an investment. It offers a wide range of investment options and account types.

TradeZero vs. TradeStation

Both TradeZero and TradeStation are great options for advanced traders and DIY traders who want to rely on the latest software and tools while exchanging securities.

Fees vary between platforms, though. In addition, TradeStation offers a wider offer for investments. The platform allows you to exchange stocks, ETFs, options, futures, futures options, mutual funds, cryptocurrencies, and IPOs. On the other hand, TradeZero only allows stocks, ETFs, and options.

However, TradeZero offers more trading platforms and also allows users with at least $30k to direct orders themselves.

Ways to invest with TradeZero

Stocks, ETFs, and Options

TradeZero offers investment to both US and international clients. US customers can invest through TradeZero America Inc. , while international clients will have access to TradeZero International. TradeZero America offers four different platforms: Trade Pro, Trade Web, Trade Free, and Trade Mobile. ZeroPro and ZeroWeb platforms cost $59 per month, but ZeroFree and ZeroMobile are both free.

One of the features that distinguishes TradeZero is the TZ locator. This tool helps traders acquire stock shares for short selling, making it an ideal resource for short sellers. By short selling, traders borrow securities and sell them to other investors at market value, with the ultimate hope that they can buy back the securities at a lower price than they originally borrowed. Note, however, that the platform does not allow users to short stock less than $1.

When it comes to costs, the fees you incur (if any) while trading largely depend on the exchange and the types of orders you use. For example, you will be able to get free online stock trades if: (a) the stock is trading on NYSE, Nasdaq, or AMEX and it is greater than $1, (b) the order you are placing is a market order or limit order, and ( c) It trades between 7 AM and 8 PM EST.

When it comes to options trading, you will be responsible for the following fees:

• Per contract: $0.25
• Options Clearing Corporation (OCC) fee: $0.02 per contract; 55 USD
• Options Regulatory Fee (ORF): $0.02135
• Exercise or set options: $0.00

Although we mentioned the rules for accessing free online stock trades, you will incur fees for trading stocks and options if you are trading after hours (4am-7am), exchanging stocks for less than $1 each, or trading OTC/ Rosy. Paid orders range from $0.003 per share to $7.95 per trade (see more about the differences between free and paid orders here).

direct guidance

With direct routing, you have the ability to choose where to direct and carry out your commands. With many popular online brokerages, investors cannot make that choice. Brokerages decide where to direct orders, and many accept PFOF in return.

TradeZero allows you to route your order from 4am to 8pm. EST. Additionally, you may be eligible for rebates, depending on the order execution (see more here).

You will need to have at least $30,000 in your account to use direct routing.

You want Zero Platinum

Investors with $50,000 or more in their accounts can take advantage of this premium service. It offers the following perks:

• Free subscription to professional trading: Platinum users also get automatic access to the Trade Pro platform for free. This bundle also includes ZeroPro, ZeroWeb, and ZeroMobile.
• Discounted sites: Investors get a 7.5% discount on the posted prices of the sites (or stocks available for short sale).
• Link to personal account: TradeZero connects you with a Series 7 registered representative to assist you with all investment related matters.
• Priority feature requests: If TradeZero doesn’t have all the features you are looking for, you can already submit feature requests with their technology team. The platform says it is giving Platinum users priority access to beta versions of upcoming software and features.

TradeZero Platinum and other services of the platform are backed by 24/7 customer service support. TradeZero offers 24/7 phone support (Mon-Fri) and live chat.

TradeZero: Is it trustworthy?

TradeZero does not have a BBB profile at the moment. The Better Business Bureau rates companies based on how much they believe in business interactions with customers.

Its ratings also take into account the type of business, time spent in business, customer complaint history, licensing and government procedures, and advertising issues. But the office also assures its users that the ratings do not guarantee reliability or performance. Therefore, it is equally important to do your research before creating an account.

However, in 2022, the Securities and Exchange Commission (SEC) indicted TradeZero America Inc. and its co-founder Daniel Pipitone mislead customers by saying they did not restrict purchases of meme stock when in fact they did, according to a press release from the SEC. . The SEC report claims that in January 2021, TradeZero suspended trading on three popular “Mim Stocks” for a period of 10 minutes.

During early 2021, many other online brokers also used restrictions on trading on highly volatile stocks. Trad Zero did not confirm or deny the allegations. TradeZero has approved a cease and desist order, a $100,000 fine, and a $250,000 fine on Pipitone. It also agreed to appoint an independent compliance advisor.

TradeZero – Frequently Asked Questions (FAQ)

What is the minimum investment in TradeZero?

You will need at least $2,500 to create an account with TradeZero. Additionally, you can only maintain your access to the platform as long as your account balance is at least $250.

Do you want a good zero broker?

It depends on what you value in the investment platform. TradeZero offers many outstanding perks, including stock and options trading, multiple trading platforms, direct routing features, 24/7 customer support, premium account options, and much more.

In addition, you can choose between free and paid orders, and the platform allows trading for extended hours (for example, you can trade from 4 AM to 8 PM EST).

Can US citizens use TradeZero?

yes. US citizens can access TradeZero through its US website, while international traders can take advantage of TradeZero International.