TradeZero is a regulated broker based in the Bahamas and offers ETF’s, stocks, warrants and options. They have a US division as well, based in Brooklyn, that serves clients strictly from the US. For the purpose of this review, we will be looking at TradeZero International. As you can tell from their name, they offer zero commission on certain stocks. They offer a highly customizable trading platform and the PDT rule does not apply.
|Nationalities||US clients have access via us.tradezero.co|
|Is a corporate Account Possible?|
|Sign Up process||Fast|
|Funding options||Bank transfer only|
|Max leverage||6 to 1
|Forex: Spot Trading||NO|
Regulation and Trust
TradeZero is a listed company and regulated with the Securities Commission of the Bahamas. They have insurance through the Argenta Group.
Commissions & Fees
TradeZero offers free trades, but there are a few requirements that need to be met in order to benefit from this perk. Firstly, the stocks must be traded on NYSE, AMEX or NASDAQ with a stock price greater than $1. The order limit must be over 200 shares and must not create an immediate match. If you buy less than 200 shares, a flat fee of $0.99 is charged.
Whilst TradeZero does not charge for the use of ZeroFree or ZeroMobile (if you have an active Web or Pro account) they do charge for the use of ZeroWeb Level 2 and ZeroPro. ZeroWeb Level 2 will cost you $59 per month, however, if you trade 80,000 shares per month, then it’s free. Likewise, ZeroPro will cost you $79 per month or free if you trade 100,000 shares per month. TradeZero does not charge an inactivity fee.
TradeZero is on several social media platforms, offers a blog, and has a newsletter. They have just over a thousand followers on Facebook, 20.3k followers on Twitter, 960 followers on Instagram and 38 videos available on YouTube. TradeZero offers clients a Hero Advantage if they refer a friend and they end up opening an account. The bonus ranges between $20 and $100 depending on the deposit amount.
If you are an active Trader you’ll love ZeroPro. The option to add, remove and move windows is a great feature. ZeroWeb also has great usability features such as having customizable and flexible hotkeys. Although their mobile application is basic, the simplicity benefits less-experienced traders.
Another great feature that TradeZero offers is the ability to place their account on hold or switch to the ZeroFree platform in order to not incur any platform fees when taking a trading break. This switch must happen before 4 pm on the last business day of the month.
There are four platforms to choose from when trading with TradeZero: ZeroPro, ZeroWeb, ZeroFree and ZeroMobile. ZeroPro is suitable for more active traders looking for a platform with speed and advanced features. ZeroFree is more suited towards beginner traders with access to only 2 windows and the option to add on Level 2 for $25 per month and add Options trading for $25 a month. Their mobile platform is available to download on both the Apple App Store and the Google Play store. Their android version has been downloaded over 1000 times and received a 2.1-star rating.
Functionality and Tools
ZeroPro provides the most features for active traders. It allows you to gain access to advanced charting with over 70 indicators, a real-time news feed, custom watch lists and Level 2 data. It also features customizable windows and you can save multiple layouts. ZeroWeb is similar to the Pro account and offers charts, watch lists and a portfolio window to monitor all your open and closed positions. You do not have the option to set alerts or use the stock screener on the Web platform. ZeroFee is a free web-based trading platform built for MAC and Windows. This is a basic platform with optional add-ons. ZeroMobile is great for on-the-go trading and links to ZeroPro, ZeroWeb and ZeroFree. Charts with indicators available.
TradeZero offers a demo account in order to trade the stock market without the risk of losing any real money. The demo provides data that is 15 minutes delayed.
TradeZero offer a phone support option that is available from 8am until 6pm eastern time. They also have the option to make use of their 24/7 Live Chat. A FAQ page is also available with a small selection of answers.
TradeZero offers a great experience for day traders or those who can take advantage of their zero commission offering. They have several platforms to choose from that suit beginner to advanced traders. However, those platforms do come at a price which adds up when you work out the yearly cost.