TradeZero Review

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Contributor, Benzinga
Updated: November 16, 2021
TradeZero
Best For
  • Scalping
securely through TradeZero's website
1 Minute Review

TradeZero is an online broker and free stock trading platform that provides everything you need to successfully share and trade, including round-the-clock customer support. TradeZero provides four different trading state-of-the-art software programs with its services, a locator for sourcing shares for shorting, commission-free trades, and real-time streaming, to name a few of the features promoted on their website. The software is a unique and (potentially) affordable option for anyone interested in stock trading.

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Best For
  • Traders seeking high transparency and mobility in a stock trading program
  • Those attracted to commission-free trades
  • Those seeking a free version of a high-quality trading program
Pros
  • 24/7 live customer support
  • Uses ZeroWeb technology, a powerful level 2 online platform with direct market access
  • Mobile app allows users to access stocks and trade in real-time while on the go
Cons
  • Enforces Pattern Day Trading restrictions (accounts need to maintain a daily equity balance of at least $25k)
  • Mobile app could offer more features

TradeZero Ratings at a Glance

Pricing
Customer Service
Mobile App
User Experience
User Benefits
Security
Overall Rating

Winner of Benzinga's 2021 FinTech Awards for Best Broker for Short Selling.

TradeZero is a broker dealer based in New York, and aims to provide stock and options trading services through a full suite of trading platforms. With features such as commission-free trading, real-time streaming on desktop and mobile platforms and a range of other comprehensive software options, TradeZero is the virtual broker that makes trading easy and efficient.

Users can choose from 1 of 3 TradeZero platforms: ZeroFree (free real-time trading option), ZeroWeb, or ZeroPro, which are different tiers that offer specific features. With any of the three tiers, ZeroMobile is automatically included. 

TradeZero Pricing


TradeZero sets itself apart by offering commission-free trading.

It also offers 4 unique trading platforms that deliver the speed and functionality that active traders need. These include:

  • ZeroFree costs $0 per month
  • ZeroWeb costs $59 per month.
  • ZeroPro costs $59 per month

ZeroMobile is included with any of the above plans, and is a free add-on. 

In addition, all orders with TradeZero are either free or paid. Free orders, of course, include $0 free limit orders, but the symbol must trade on NYSE, AMEX, or NASDAQ and be greater than $1.

img_60db617be8090

*Table provided from TradeZero website.

Paid orders cost $.003 per share:

  • OTCBB and PINK sheets must be greater than $.10
  • Securities trading less than $1
  • Securities not traded on the NYSE, AMEX, or NASDAQ
  • Trading between 4 a.m. EST and 7 a.m. EST.
img_60db617db61e3

*Table provided from TradeZero website.

Additional paid options are available for those seeking more customized plans.

TradeZero charges an inactivity fee of $5.00 for quarterly maintenance for accounts with a balance under $100 that do not hold securities, and did not have any trading activity in the previous quarter. However, new accounts and accounts with no balance will not be charged.

Given how convenient TradeZero’s terms are, both of the paid software options and free software features are more than satisfactory for those who either anticipate frequent trades, or want to use the software with fewer features in exchange for more share flexibility. 

TradeZero Customer Service


TradeZero offers 24/7 customer service via live webchat. Users of any software tier will always have access to quick and convenient support. Other options for reaching TradeZero customer support include phone (+1-877-4-TRADE-0) from 8 a.m. to 5 p.m. EST, Monday through Friday, as well as email (support@tradezero.us). 

TradeZero Mobile App

The TradeZero mobile app is available for both Android and iPhone, and offers instant market data in real-time for users on the go. Access to the app is automatic for users of any of the three TradeZero tiers, and allows:

  • Trading and locating stocks in real-time
  • Viewing real-time news
  • Options trading (coming soon)
  • Charting with indicators.

Overall, the TradeZero mobile app is only somewhat functional for what it does, offering limited features. It’s also not ideal for Pro members that the app extends the same number of features for those taking advantage of the free software as it does for paying users. This isn’t a good deal for Pro members paying a high monthly fee for additional TradeZero services.

TradeZero User Experience


There are over 1,000 reviews for the TradeZero software on TrustPilot, with the platform earning an overall rating of 4.7/5 (equating to an “excellent” delineation). Among the favorable feedback includes consistent praise of the program’s usability and customer service. 

However, some users did cite instances of technical difficulties and software bugs, which were promptly cleaned up with the help of the support team. Some users also noted that the UI could undergo some improvement to make it more aesthetically attractive. 

TradeZero User Benefits


TradeZero earns a perfect rating when it comes to performance. The software provides a solid, reputable, easily-navigable platform for traders to stay on top of market trends and, well, trade. It’s a good option for both experienced and new stock traders alike.

TradeZero Security

The TradeZero website asserts the following in its Privacy Policy:

“We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. 

If you have any questions about security, contact TradeZero at support@tradezero.us. In addition, no security breaches were reported among users who reviewed TradeZero on TrustPilot.

TradeZero Overall Rating


Overall, TradeZero is a solid stock brokerage platform for traders of all experience levels. Its strong points include tight security, unparalleled (live) customer support, and user benefits, particularly for those enrolled in the ZeroWeb or ZeroPro plans. 

However, the program loses points for fairly basic mobile capability, which offers the same functions for pro and free members alike. Pricing is also on the high side for paid plans.

TradeZero
Best For
  • Scalping
securely through TradeZero's website

TradeZero vs Competitors


TradeZero is one of several online brokers that aim to perform the same function: giving users the ability to trade with as few restrictions and as much autonomy as possible. A few of the program’s competitors include:

  • eToro
  • IC Markets
  • xtb online trading.

Among these platforms, TradeZero stands out for its unparalleled customer support, but loses points in most other areas. When stacked against its competitors, it has the lowest number of available instruments, 0 Forex pairs, no cryptocurrency capability, no commodities offered, and only 100 stocks offered. TradeZero performed most poorly in all of these categories compared with competing software. 

TradeZero Tutorial

The TradeZero website offers the following tutorial on placing free stock trades.

Frequently Asked Questions

Q
Can U.S. citizens use TradeZero?
A

Yes, U.S. citizens can use TradeZero. Those interested should visit Tradezero for more information.

Q
Is TradeZero safe?
A

The majority of users found the platform to be successful for their trading goals, and the site is encrypted with SSL protection for the security of their users. 

User Reviews

Layla

How do you use this product to boost your finances?

They system freezes multiple times per day causing you to lose money. They charge outrageous fees. I believe they have belief of a gangster mindset and should be shut down

Javid

How do you use this product to boost your finances?

They are criminals

Anthony Salazar

How do you use this product to boost your finances?

Close your position without telling you lost 27,000$ Without me even knowing they closed my position. Then locked my account so I couldn’t do anything

Davide

How do you use this product to boost your finances?

Dishonest money grabbers

Sasha Morrissette

How do you use this product to boost your finances?

I don’t.

Ahmed Goweily

How do you use this product to boost your finances?

Trading.

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