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Zacks Trade Review
Zacks Trade is a Chicago brokerage running on Interactive Brokers technology since 1978, but the SEC fined its parent 240,000 dollars in 2017 over weak information controls.
Min Deposit
$250
Spreads From
$0.01 per share, $1 minimum commission per trade
Max Leverage
Set by Interactive Brokers margin rules, not published as a fixed ratio
Platforms
3
Pros
- Stock and ETF trades cost just 0.01 dollars a share with a 1 dollar minimum
- Clears trades through Interactive Brokers, giving access to over 90 global markets
- Account minimum was cut from 2,500 dollars to 250 dollars in late 2024
- Operating under the same ownership since 1978, one of the older US brokerages
Cons
- SEC fined the firm 240,000 dollars in 2017 over weak insider information controls
- FINRA separately fined the firm 65,000 dollars for the same underlying failures
- FINRA BrokerCheck lists eight regulatory disclosures against the firm in total
- Shares a CEO with its research affiliate, the same conflict cited in the SEC case
Zacks Trade is a brand of LBMZ Securities, Inc., registered with the SEC since 1978 and formerly named Zacks and Company. It is a fully disclosed introducing broker that clears trades through Interactive Brokers LLC, so clients use IB's trading engine with Zacks Trade research and support layered on top.
Stocks and ETFs cost 0.01 dollars a share with a 1 dollar minimum, and the account minimum was cut from 2,500 dollars to 250 dollars in late 2024. Clients reach over 90 markets worldwide on Interactive Brokers style platforms, alongside research from the wider Zacks family of companies.
In 2017 the SEC fined LBMZ 240,000 dollars, and FINRA separately fined it 65,000 dollars, after finding weak controls let information flow between its investment banking arm and an affiliated research unit, Zacks Small Cap Research, between 2013 and 2015. The firm carries eight regulatory disclosures on its FINRA record in total.
Min. Deposit
USD 250
Max Leverage
Set by Interactive Brokers margin rules, not published as a fixed ratio
Spreads From
$0.01 per share, $1 minimum commission per trade
Platforms
Regulators
Platforms
- FINRA (USA)
- SEC (USA)
- SIPC
