Check the background of Zacks Trade on FINRA's BrokerCheck.
1. The tiers which interest is based upon may change from time to time without prior notification to customers. Such adjustments are done periodically to adjust for changes in currency rates. Zacks Trade uses a blended rate based on the tiers above. For example, for a margin balance over 1,000,000 USD, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc.
2Zacks Trade's margin rate starts at 3.60% compared to Charles Schwab (rate starting at 8.325%), E*Trade (rate starting at 8.95%), Fidelity (rate starting at 8.325%), TD Ameritrade (rate starting at 9.50%) and Vanguard (rate starting at 8.50%). Zacks Trade commissions for stocks start at $0.01 per share with a $1.00 minimum. Competitor margin rates obtained from published websites as of 08/03/2020 are believed to be accurate but not guaranteed. Some of the brokers may reduce margin interest rates depending on account activity or margin debit balances. Comparisons do not include competitor discounts or promotions.