ZacksTrade is a platform through which you can trade all kinds of Forex financial instruments. This is an international company serving hundreds of thousands of customers from different regions of the world. ZacksTrade is a company division that specializes in providing trading services for individuals. The company was founded in 1978 by Len Zacks. The main profile of the company is the provision of analytical materials, forecasting, and research of financial markets. The company is based in the United States of America.
As a customer of this broker, the user gets access to an extended list of forecast data and analytics. This is a key advantage of Zacks Trade.
What commission and fees are charged by the broker
When choosing a company, it is important to pay attention to the amount of commission charged. In this case, the commission is charged for trading for 1 cent of the US dollar per 1 stock participating in the transaction. For the stocks of less than one dollar value, the commission is charged at 1% of the transaction amount. For other assets, the commission is floating and depends on the volatility of the positions.
Additional charges are not charged for the replenishment of an account and the withdrawing of funds. But the commission can be established using payment.
As a customer, you can request the opening orders through a personal manager (by phone). This is a free service.
Direct access to financial markets
The peculiarity of the company is the provision of direct access to financial markets. Routing is possible on such exchanges as NYSE, IEX, VWAP, and BEX. The management is carried out through a trading platform or a personal cabinet. The main target audience of the fx broker is traders, who trade long-term assets or intraday options. Scalping, hedging is not available here. And the commission on transactions can level any potential profit for short-term transactions since the fee is calculated based on trading volume.
It is possible to trade with the forex broker through the browser version of ZacksTrader platforms. Unfortunately, it will be unusual for many participants in financial markets. For example, the application of usual analytics and forecasting tools on the chart is impossible; there is no ability to add graphical tools. Instead of this, complex mathematical calculations based on internal algorithms are available. They allow assessing the markets, volatility to build their forecasts.
Special attention was given to the ZacksTrade Pro desktop program for PC. It is multifunctional. But its user interface leaves much to be desired. The design can be called outdated. Any blocks, their location, and content cannot be changed. Therefore, the integration of the needs of the user is absent here. But, unlike the browser version, the desktop program is notable for good functionality. It has over 50 tools for analysis that are not even represented in popular Metatrader 4 and Metatrader 5.
For mobile devices, it is possible to download a special version ZacksTrade for Android and iOS. This application differs little in terms of its functionality and interfaces from the popular Metatrader Mobile.
The most useful analytics tools available through ZacksTrade trading platforms:
• Bond scanner;
• Level quotes;
• The volume of volatility;
• Volume indicators.
Based on the built-in tools, it is possible to determine the levels of oversold and overbought, look for transaction entry points and exit points from them.
The company does not offer extensive investment programs. Therefore, the company is focused mainly on traders, who trade independently.
The minimum deposit is $ 2,500. If you wish, you can replenish your account and not trade at all, just keep your funds on the balance. For this, no commission is charged, but deposit bonuses are not charged also. Unlike many European brokers, the financial company ZacksTrade does not conduct any promotional programs that do not accrue bonuses to new customers.
For opening an account, you can be a citizen of any country. The company has clients from more than 150 countries in the world. To open the account, a lightweight verification is held.