TradeZero Broker Review 2018: How It Matches Up
Trade Zero is an online broker that is headquartered in Nassau, Bahamas and focuses on provided broker services to active traders who are looking for cheap commissions.
Since they are outside of the states they don’t have to comply with the SEC regulations for pattern day traders and can supply more buying power than normal without the high requirements for day traders in the states. I found their site to be easy to navigate with all the information you need just a click away and not hidden like some other brokers.
Their customer service was middle of the road with and didn’t answer every time I called. However, when they did answer they were nice and professional and were able to help me with my questions. I also liked that they have a live chat feature in case you just have a quick question.
**Keep in mind that they do not allow US citizens to open accounts with them.**
Commissions & Fees
Trade Zero’s claim to fame is that they offer free limit orders if the order goes unmatched for more than one second and its for 200 shares or more. It also has to trade on a major exchange like the NYSE, AMEX or NASDAQ and have a value of more than $1.
This is the first I have heard of an offer like this and I found it to be pretty interesting, but I’m not sure how likely an order will go unmatched and if they’re just using this as marketing ploy.
For marketable orders there is a flat fee of $0.005 per share with orders less than 200 shares being a flat fee of $0.99. So for a thousand shares you will pay $5.00 and for 100 shares you will pay $0.99.
Platform & Tools
Looking at their software they had a couple different choices with the main two being their web-based platform called ZeroWeb and their main trading platform called ZeroPro (both with direct market access). The web-based platform comes with all your standard features and can run on any connected device such as computers, laptops, tablets or phones.
What I liked about it the most was it has hotkey capabilities and direct market access. These are key features for active traders. I found it to be more powerful than other web-based browsers I’ve tried and was surprisingly quick.
Their flagship trading platform ZeroPro is powerful and full of rich graphics with advanced order entry and hotkey capabilities. It also features Level 2, time and sales, real-time news feed and direct market access. You can check it out for free by signing up for their demo. I found it to have all the features and tools you need to trade actively and definitely recommend it if you’re shopping around for brokers.
Even though they are headquartered overseas, I still recommend checking out Trade Zero as they offer some great tools and excellent commission rates. I know it seems a little sketchy that they are offshore but there are other brokers like SureTrader that have been doing it for a while.
They provide a service to traders who can’t fulfill the equity needs for the patter day trading rules in the states by allowing traders to day trade on margin with much less equity requirement. If interested in checking them out you check their site out at this link.
Broker Rebate Program
Click on the image below to see how you can save on your Warrior Trading education through the special rebate program we’ve started with TradeZero!
As always if you have any questions or comments regarding Trade Zero, please leave us a message below!