Firstrade or ZacksTrade – which is better for UK traders 2026? Compare Firstrade and ZacksTrade in this detailed breakdown of their platforms, features and fees.
Firstrade, based in the US, operates as a discount broker-dealer and is authorised by the SEC. The firm is a member of both FINRA and SIPC. Firstrade Securities stands out as a leading online brokerage, offering enticing welcome bonuses, robust tools and apps, and commission-free trading. Opening a new account is straightforward and efficient.
Zacks Trade, a US broker under FINRA regulation, provides trading services for stocks, ETFs, cryptocurrencies, bonds, and more via a bespoke terminal. Targeting active traders, it offers competitive fees across most assets. Additionally, clients benefit from an app and extensive market data access.
Pros
In 2025, Firstrade Invest 3.0 will introduce an enhanced platform featuring a streamlined interface and quicker order entry, catering to active traders in areas such as watchlists and options chains.
Improved trading conditions now include overnight trading and the option to purchase fractional shares.
Among the initial brokers to integrate AI-driven analysis via FirstradeGPT.
Ideal broker for cost-aware traders, offering competitive low fees on OTC trades.
A reputable US-regulated broker and SIPC member
The option to execute trades by phone with a broker, without extra costs beyond the standard penny-per-share fee, is rare among discount brokers. Most rivals do not offer this service or apply a significant surcharge, thus distinguishing Zacks Trade in this respect.
Zacks Trade still imposes commissions dropped by most rivals, but it compensates with lower borrowing costs. With margin rates starting at 8.83%, it's cheaper than major brokers, appealing to those holding overnight leveraged positions. While small balances see slight savings, larger margin accounts benefit significantly over a year.
Many brokers at this level provide just basic charts and a news ticker. Zacks Trade offers much more—standard accounts include over 20 complimentary research subscriptions and the choice of 80 additional paid services from Morningstar, Dow Jones, Seeking Alpha, and Thomson Reuters.
Cons
Firstrade prioritises stocks over forex, restricting opportunities for portfolio diversification.
Over 90% of the options assessed lack a demo trading account.
Customer support requires improvement after testing revealed the absence of 24/7 assistance.
Deposits and withdrawals via Visa credit or debit cards are not available.
The account-opening procedure is entirely digital but excessively complex; verification can exceed a week. Numerous document steps and a preliminary experience assessment render this one of the most tedious onboarding processes in retail brokerage, especially as competitors expedite this to hours.
Most brokers have eliminated fees on stock and ETF trades, highlighting Zacks Trade's penny-per-share charge. This fee is trivial for occasional traders. However, a 10,000-share transaction incurs a $100 commission. With widespread zero-commission options, justifying such fees is challenging.
Traders lack access to forex, cryptocurrencies, commodities, or futures—significant gaps for multi-asset traders. Since the infrastructure is via Interactive Brokers, supporting these, it seems more like an imposed restriction than a true platform constraint.
Awards
Best for ETF & Active Investor Commission & Fees - 2019
Engage in trading across a wide range of top cryptocurrencies with minimal fees and all-day access. Traders can begin speculating on popular tokens such as Bitcoin with as little as £1. Additionally, clients can purchase cryptocurrencies instantly through a few simple steps.
Clients can trade a select few cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Real-time quotes are provided, and the fees are competitive. If trading volumes are significant, commissions further decrease.
