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. ZacksTrade 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.
2. Zacks Trade's margin rate starts at 5.91% compared to Charles Schwab (rate starting at 9.825%), E*Trade (rate starting at 11%), Fidelity (rate starting at 9.825%), TD Ameritrade (rate starting at 10.75%) and Vanguard (rate starting at 9.75%). Zacks Trade commissions for stocks start at $0.01 per share with a $3.00 minimum and start lower compared to Charles Schwab ($4.95 per trade), E*TRADE ($6.95 per trade), Fidelity ($4.95 per trade), TD Ameritrade ($6.95 per trade) and Vanguard ($7 for first 25 trades, subsequent $20). Zacks Trade commissions for options start at $3.00 for your first contract plus $0.75 any additional contract and are lower compared to Charles Schwab ($4.95 base + $0.65 per contract), E*TRADE ($6.95 base + $0.75 per contract), Fidelity ($4.95 base + $0.65 per contract), TD Ameritrade ($6.95 base + $0.75 per contract) and Vanguard ($7 base + $1.00 per contract). Competitor margin rates and commission data obtained from published websites as of 3/25/2019 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.