Key Takeaways

• FINRA sets a $2,000 minimum equity requirement for margin trading, so small accounts may day trade more actively.
• Brokers can phase in the change until October 20, 2027, so confirm timing with Zacks Trade.
• Zacks Trade requires a $250 deposit to open an account.

For almost 25 years, the $25,000 pattern day trader rule made choosing a broker feel like a math problem. In this updated review, I’ll break down what the PDT rule change may mean for Zacks Trade customers, as well as its fees, platforms, and tools.

Summary

If you’ve been using Zacks Investment Research to find potential trades, it’s time to check out Zacks the broker. More commonly known as Zacks Trade, it’s the brokerage arm of the security research firm.

The brokerage house offers a lot of trading services that may be absent at your current broker. So it’s definitely worth having a look at. 

Brief Overview

Headquartered in Chicago, Zacks Trade caters to investors all over the world. Residents of many foreign countries can open an account and trade U.S. and foreign securities. Canada and Japan are a few countries that aren’t eligible.

Everyone else, keep reading.

Services Offered

Zacks Trade clients can buy and sell:

• Equities
• Options
• ETFs
• Bonds
• Mutual funds

Missing in action are futures, currencies, precious metals, and cryptocurrencies. Zacks does offer foreign currency exchange, but not forex trading.

Besides accounts for professionals, institutions, and hedge funds, Zacks Trade also offers margin accounts.

Day Trading

Because Zacks Trade is headquartered in the United States, day traders are subject to FINRA’s new intraday margin rule, which took effect on June 4, 2026, replacing the $25,000 minimum. 

Your broker now monitors your equity relative to the risk you carry during the day, rather than counting trades. Brokers can phase in the change until October 20, 2027, so confirm with Zacks Trade how it applies to you.

In return for staying within the rules, Zacks Trade delivers:

• Direct access to market venues
• Short locate features
• Level 2 quotes

Leverage

Zacks Trade offers 2:1 overnight leverage in a regular brokerage account. This assumes it has at least $2,000 in assets. Initial maintenance margin is 4:1. Some stocks may have less leverage.

At Zacks Trade, the special memorandum account (SMA) must be positive at least 10 minutes before the market closes. Otherwise, positions are subject to liquidation.

For short positions, the broker has a 30% maintenance requirement. This assumes the stock price is above $16.67. The requirement goes up if the stock price goes down.

Zacks Trade also offers something called Portfolio Margin. You get 6:1 leverage if you can deposit at least $110,000 in your account. You have to maintain at least $100,000 in the account to keep the leverage on steroids.

How Much Money Do You Need To Day Trade With Zacks Trade?

The New Math: Intraday Margin Standards Instead of $25,000

FINRA’s investor guidance confirms there’s no longer a $25,000 requirement for day trading. What remains is the standard $2,000 minimum equity for any margin account, which was already in place before the change. 

That may open the door for beginners who were priced out by the old threshold, though intraday margin requirements still apply, and some brokers may keep enforcing the old limits until they finish phasing in the new rules by October 20, 2027. For more, see my guide on how much money you need to day trade. 

What Zacks Trade Customers Should Keep in Mind

Before you fund an account, keep these points in mind:

• Deposit versus equity. The $250 deposit opens the account, but margin day trading may require $2,000 in equity.

• Commissions add up. A penny-per-share price with a $1 minimum can quickly eat into a small account.

Small Accounts Still Carry Real Risk

A lower minimum doesn’t make trading easier. Research on 3.7 billion Taiwan Stock Exchange trades found that predictably profitable traders accounted for less than 3% of day traders on average. That’s why I recommend practicing with a trading simulator first.

Commissions, Fees, and Account Requirements

Zacks Trade requires a $250 deposit to open an account. There are no inactivity fees or low-balance charges, though. The broker is one of the few we know of to charge for withdrawals.

A wire is $10, a check is $4, and an ACH is $4. Zacks Trade customers do get 1 withdrawal per month for free.

The broker’s commission on options trades is 75¢ per contract with a surcharge of 25¢ for the first contract. There are no fees for assignments or exercises, a great policy.

Trades of stocks and funds priced above $1 are a penny per share with a $1 minimum commission. For stocks and funds below $1, the charge is 1% of trade value with a $1 minimum.

Although Zacks Trade’s equity commission may look a little pricey compared to $0 brokers, its margin schedule is very impressive.

When we get to foreign stocks, it’s a different picture altogether. Margin rates in other currencies are usually higher, and commissions are too:

Zacks Trade imposes no surcharges on broker-assisted trades, a rare policy in this industry.

The Bottom Line: A Lower Barrier, the Same Discipline

Although the PDT rule has changed, Zacks Trade offers many great resources for day traders. Its software is on a very high level, and we really like the broker’s global services. Futures, crypto, and forex traders will have to look elsewhere, though.

With the $25,000 hurdle out of the way, the real question is whether you’re prepared to day trade. I’d keep my size small, protect my long-term savings, and treat this as a skill I’m building.

FAQs

Does Zacks Trade still require $25,000 to day trade?

No. FINRA’s intraday margin rule removed the $25,000 minimum equity requirement as of June 4, 2026. Because brokers can phase in the change, confirm your account’s status with Zacks Trade.

What is the minimum deposit at Zacks Trade?

Zacks Trade requires a $250 deposit to open an account. Margin trading generally calls for at least $2,000 in equity.

Can I day trade with $2,000 at Zacks Trade?

Potentially. A $2,000 margin account may meet the regulatory minimum, but commissions and position sizing can limit how actively you trade.

Is day trading with a small account risky?

Yes. Most day traders lose money, so consider practicing in a simulator first.

Sources:

FINRA Adopts New Intraday Margin Standards | FINRA

Understanding the New Intraday Margin Requirements | FINRA

Learning Fast or Slow? | Social Science Research Network

Zacks Trade Review 2026: Pros, Cons and How It Compares | Nerd Wallet