Where do I start?
To open an account, visit zackstrade.com and click on the Open an Account button on the top right-hand side to start the application.
What is the funding minimum?
We recommend a minimum amount of $2,500 for a cash account; however you are able to fund with less. For margin accounts, the required minimum to maintain is $2,000.
Can Zacks Trade open accounts for non-US citizens and/or non-US residents?
Zacks Trade allows citizens and residents of many countries to open an account. Acceptable countries of residency are presented on the second page of the application.
I am from Canada or Japan. Can I open an account?
If you are a citizen of Canada or Japan residing in an acceptable country of residency, you may open an account. At the present time, we are unable to open accounts for residents of Canada or Japan due to Canadian & Japanese securities regulations and laws.
What products can I trade at Zacks Trade?
Stocks (including Penny stocks and OTC stocks), Options, Bonds, ETFs, Bonds, Mutual Funds, and Forex (only for currency exchange). Currently, we do not support Futures, Commodities, or Forex (for purposes besides currency exchange).
Is my account insured?
Accounts at Zacks Trade are protected by the Securities Investor Protection Corporation (“SIPC”) for a maximum coverage of $500,000 (with a cash sub-limit of $250,000) and under our clearing firm’s excess SIPC policy with certain underwriters at Lloyd’s of London for up to an additional $30 million (with a cash sub-limit of $900,000) subject to an aggregate limit of $150 million.
Does Zacks Trade charge inactivity and/or maintenance fees?
We do not charge inactivity fees or maintenance fees. We also do not have any IRA Custodial fees.
Is there a credit check as part of the Account Opening Process?
No credit check is performed when opening a cash or margin account. In the case of a margin account, even though you are technically borrowing, the loan is secured by the securities held in your account which have been partially paid for in cash.