Review of TradeZero International
TradeZero has one office in America, one in Canada, and one in the Bahamas. This third location does not have pattern-day trading requirements, but there are several conditions. Here are the details:
Insurance and Regulations
TradeZero Bahamas is not based in the United States or Canada. Its primary office is in Nassau, so it is under the oversight of the Bahamas’ securities regulators. This means the SEC or FINRA are not involved.
SIPC coverage is also unavailable. TradeZero Bahamas has coverage through Lloyd’s of London and Bahamas First General.
Account Opening
A trading account with TradeZero in the Bahamas can be opened online at the correct website: tradezero.co, instead of tradezero.us or us.tradezero.co, which belong to the American divisions. It’s fairly straightforward.
But here is where the warnings appear: Americans, green card holders, U.S. permanent residents, and Canadians are not permitted to open accounts. Even Bahamian citizens are disqualified. They will just be redirected to the American or Canadian divisions (the Canadian website is at tradezero.ca). Accounts at either branch must follow each country’s pattern-day trading rules.
TradeZero Available Countries
The list of countries where TradeZero is available:
United States, India, China, United Kingdom, Canada, Australia, Thailand, South Africa, Singapore,
Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia,
Spain, Poland, and more. Another option is the U.S. broker Zackstrade, which supports nearly every country.
Asset Classes
TradeZero customers can trade these products:
- Warrants
- Stocks
- Exchange-traded funds
- Option contracts
There are no additional assets right now. TradeZero intends to offer cryptocurrency trading in the future, but it is currently not offered.
Day Trading
4 stars
The Bahamian branch of TradeZero is appealing because it does not have any pattern day-trading rules, except for a $500 minimum account value.
Direct-access routing. Multiple software platforms have a routing menu.
Shorting. TradeZero clients can short securities, and the firm has a new patent-pending feature that allows them to sell unused short locates.
Level II quotes. Provided at no cost for major exchanges.
Routing fees and rebates. Unfortunately, only TradeZero America supports maker-taker fees.
Margin Trading
TradeZero Bahamas provides day traders with up to 6:1 leverage, requiring at least $2,500 in equity. Accounts below that value get 4:1 leverage. If an account falls under $500, only cash trades are allowed. Accounts above $500 must be at 2:1 leverage by 3:55 pm, EST.
Stocks under $1 cannot be shorted, and stocks under $0.10 cannot be bought or shorted. Stocks under $3 only allow cash trades.
TradeZero Bahamas charges 8% on any margin debit carried overnight.
TradeZero International Pricing
True to its name, TradeZero charges $0 for certain orders. These are limit orders of at least 200 shares on main U.S. exchanges that instantly match, and the stock must be at least $1 per share.
Trades that do not match those rules cost 0.5¢ per share.
Orders for fewer than 200 shares pay a $0.99 flat fee plus the per-share commission.
Option trades cost 59¢ per contract, while exercises and assignments cost $35.
TradeZero charges $59 per month for ZeroPro or ZeroWeb, its top platforms. We'll examine them next.
ZeroPro
At the highest level is ZeroPro, the broker’s main trading platform with many helpful tools, such as:
- Full-screen charting with accessories like indicators (more than 70 of them) and drawing tools
- Color-coded Level 2 data
- Advanced order ticket with conditional orders, discrete sell short button, and more
- Watchlist that updates in real-time
- Market movers (for example, NYSE Most Active)
- Hot keys
- Time & sales data (also color coded)
- Options trading window
- High Low Ticker (window shows securities hitting 52-week high and low spots)
Pro runs on Windows 7 or newer but does not work on Mac.
ZeroWeb
One tier below is ZeroWeb. Unlike Pro, it is not a standalone desktop program. Instead, it runs in a browser. The perk is that ZeroWeb can run on Mac (using Firefox or Chrome, but not Safari).
Even though ZeroWeb is browser-based, it still offers many of Pro’s major features, like hot keys, Level 2 data, charts, watchlists, and more. However, some tools are missing, such as alerts and a stock screener. Another major drawback is that ZeroWeb cannot place option trades.
While TradeZero has a mobile app, ZeroWeb also works on tablets and smartphones.
ZeroFree
Another lower tier is ZeroFree. This is an HTML5 platform that runs in a browser window. As the name suggests, it is free. But adding hot keys costs $15 per month.
ZeroFree supports only one Level 2 window at a time, while the other two platforms permit multiple Level 2 windows. It also limits charting windows to two at once, whereas ZeroPro can display as many as 10 simultaneously.
ZeroMobile
Lastly is the mobile app. Like ZeroFree, it costs nothing to use, but it has the fewest features. Missing items include alerts, a screener, market movers, and Level 2 quotes. You also cannot trade options.
Even with these limitations, there are some positives to the mobile app, including:
- Locate tool for hard-to-borrow stocks
- Trades and positions sync with other TradeZero platforms
- Compatible with both Apple and Android devices (phones and tablets)
- Watchlist
- News articles from Benzinga
- Charting with volume and OHLC data
Other Services
Extended Hours Trading: TradeZero users can trade before the session opens and after it closes.
Dividend Reinvesting: TradeZero does not offer DRIP.
Fractional Shares: Currently, only whole shares can be traded.
Cash Management Features: There are no debit cards or checks.
Initial Public Offerings: Also not available.
Individual Retirement Accounts: There are no IRAs at all.
Recommendations
Mutual Funds: As stated, TradeZero does not support mutual funds. Firstrade does, and it offers thousands of them.
Small Accounts: Since TradeZero applies fees on certain trades, we recommend Firstrade.
Long-Term Investors and Retirement Savers: Opening one or more accounts at Zackstrade is a better plan.
Beginning Investors: We do not recommend TradeZero for novices. A managed account at Firstrade is a better choice.
Active ETF and Stock Trading: Active equity traders can do well at TradeZero, especially with ZeroPro.
Comparison
Compared to other brokers in the Caribbean, TradeZero is highly competitive. For example, Capital Markets Elite Group does not provide ETF or options trading. And SureTrader recently closed down, leaving F1Trade with no insurance.
However, if we compare TradeZero to Zackstrade, the story changes. Zackstrade provides mutual funds, IRAs, no platform fees, lower margin rates, and access to most global markets—unlike TradeZero.
TradeZero International Review Summary
While TradeZero in the Bahamas avoids America’s PDT rule, it may not offer the best value for every trader. With a limited range of investments, we are not overly impressed.
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Updated on 3/17/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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