Firstrade or ZacksTrade – which is better for UK traders 2024? Compare Firstrade and ZacksTrade in this detailed breakdown of their platforms, features and fees.
Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage. It is also quick and easy to open a new account.
Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.
Pros
SIPC member
Low OTC fees
Crypto trading
Premarket trading
Accepts US traders
No minimum deposit
Commission-free investing
Regulated by SEC and FINRA
Multiple customer support options
Access to education, research, and tools
Stop limit and trailing stop orders supported
Mobile app with advanced features and analysis
Demo account
20+ account denominations
Comprehensive research and data
Customizable proprietary trading platform and mobile app
Regulated by FINRA with access to the Securities Investor Protection Corporation
Cons
No copy trading
Some withdrawal fees
No 24/7 customer support
No forex or futures trading
No demo/paper trading account
Visa Credit/debit card deposits and withdrawals not accepted
No MT4 or MT5 platform integration
High minimum requirement of $2,500
No forex, commodities or futures trading
Withdrawal fees apply if removing funds more than once per month
Shortcomings regarding platform loading times and technical glitches
Awards
Best for ETF & Active Investor Commission & Fees - 2019
Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps.
Clients can trade a modest handful of cryptos including Bitcoin, Ethereum, and Litecoin. Real-time quotes are available and fees are low. Commissions also drop if you trade digital currencies in high volumes.