Introducing the TradeZero Review
TradeZero is the investment industry’s answer to expensive brokerage and trading fees. This real-time streaming trading platform offers commission-free transactions on desktop and mobile. It is a virtual broker that aims to make trading easier and more efficient.
There are three different TradeZero platforms, as well as the fourth which unlocks free mobile trading. While not all options are free, this brokerage can more than stand up to the big players.
Keep reading our TradeZero review to learn more about how this platform could be the perfect choice for beginners.
What is TradeZero?
|Product Name :||TradeZero|
|Contribution||$ 0 / $ 59 / $ 79 per month|
|Customer service||Live web chat, email, phone support|
|Promotions||ZeroPro 30-day free trial|
TradeZero was founded by Daniel Pipitone in 2014. This New York-based broker has been run by an entrepreneur who has specialized in startups in the financial services industry for 20 years. Although the company claims to be based in New York City, its headquarters are based in the Bahamas.
While this shouldn’t bother most investors, this fully licensed US virtual broker is changing the way newbies can invest. The transactions are truly commission-free and there are multiple platforms for all skill levels.
TradeZero aims to strengthen the wave of new investors entering the market for the first time.
Our review on TradeZero cannot say enough about the value of this platform. The richness of features makes it an easy to use platform. Unlike its competitors, it frees itself from the complexities imposed by other platforms and allows you to get started quickly.
Negotiation without commission
Almost all transactions on TradeZero are free. As long as your order limit is over $ 1 and the symbol is trading on the NYSE, NASDAQ, or AMEX, you will never pay a dime to complete your trade. This is true commission free trading and there are no hidden fees built into it elsewhere, such as administration fees.
Trading fees can add up quickly, so eliminating them is a great way to improve your profitability.
An interesting feature is the ability to trade on margin. Margin accounts with a minimum of $ 600 can trade up to $ 1,000 on margin. This means that the platform is very attractive for experienced day traders.
Although we do not recommend margin trading for beginners, the presence of this option allows short term traders to maximize their earnings.
Pre- and post-market negotiation
TradeZero offers traders the opportunity to take advantage of pre and post trade trading sessions. Stocks and options may be traded from 4 a.m. EST to 8 p.m. EST. The absence of these restrictions makes it easier to take advantage of trends based on out-of-hours news cycles.
Total daily auto sales loss
Loss mitigation tools are a fundamental tool in any investor’s arsenal. TradeZero offers the Daily Total Automatic Sell Loss feature which allows traders to set a stop-loss between 9:30 a.m. and 4:00 p.m. EST.
If the market worsens, TradeZero will automatically sell your positions to you to limit your losses and avoid a catastrophe.
Trade on the go with ZeroMobile. This completely free application is open to all members regardless of their membership level.
From the app, you can trade and monitor your account. On top of that, you can research symbols, find crucial market data, and connect with the latest market news.
There are three platforms (plus ZeroMobile) to trade with. Each comes with its own set of features. Here they are in detail:
- ZeroFree ($ 0 per month) – The starter platform including keyboard shortcuts, real-time graphics and personalized watchlists.
- ZeroWeb ($ 59 per month) – Offers dynamic tick-for-tick updates, customizable layouts, point-and-click to swap, and more advanced keyboard shortcuts.
- ZeroPro ($ 79 per month) – Contains the most advanced charting and trading options, as well as all the features available in the other packages.
The big jump in costs is significant. Truth be told, there are other free platforms with these same paid features. ZeroWeb and ZeroPro are best reserved for day traders due to their real-time trading features.
Here are the answers to some of the most common questions people have about TradeZero and how it works.
Can I test TradeZero first?
Yes, they do offer a free desktop demo account. However, it takes 3-5 days to be approved and there is no demo account available for the mobile app.
What is the minimum deposit?
For US investors, the minimum deposit to open a cash account is $ 250. These limits are higher for international investors.
Is TradeZero safe to use?
TradeZero holds all the necessary licenses in the Bahamas which makes it safe and secure. However, investors should be aware that it is unlicensed by leading US regulations, such as the SEC.
This lack of protection from US regulatory authorities may not satisfy more conservative investors.
Is TradeZero Right For You?
Our TradeZero review finds it to be the perfect platform for two groups of investors: beginners and day traders. Its round-the-clock support and the simplicity of the platform make it possible to get up and running and start trading in minutes.
Where it falls is its position in the Bahamas and the lack of regulatory approval in the United States. For this reason, some investors may not feel comfortable leaving large amounts on the platform.
Create an account with TradeZero and try the ZeroPro 30-day free trial now.