Review of TradeZero US
Day traders and other seasoned traders in the United States seeking advanced software, strong services, and the lowest commissions should seriously consider TradeZero. Even though this brokerage isn’t very famous yet, it may be soon.
TradeZero U.S. Pricing and Minimum Deposit
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 |
| Options | $0.59 per contract |
| Mutual funds | not offered |
| Treasury Bills, Notes, Municipal and Agency Bonds, Zeros & Strips | not offered |
| Investments | stocks, options, ETFs |
| Minimum deposit to open account | $2,500 for cash account, $2,500 for margin account |
Investment Choices
TradeZero only provides self-directed brokerage accounts. There are no financial-planning or managed services. In its self-directed accounts, these products can be traded:
- Equities (including OTC, but no foreign shares)
- Options
- ETFs
Right now, there are no other products, which might disappoint some active traders who want to trade futures or forex.
TradeZero plans to offer cryptocurrency trading and is collecting e-mail addresses for a waitlist. The company promises a separate crypto trading platform, though no release date has been announced.
Day Trading
TradeZero focuses on day trading, so let’s examine that immediately.
Shorting. Securities can be shorted inside a TradeZero account. The broker provides a short locate tool that shows the cost to short the stock and the number of available shares.
Level II quotes. Multiple platforms at TradeZero have Level II quotes.
Direct-access routing. This is also offered, but accounts using it must keep at least $30,000 in equity.
Routing fees and rebates. TradeZero America is one of the few brokers that uses maker-taker pricing. Although it’s not available on OTC or pre-market trades, it still gives traders a way to earn rebates.
Although American accounts must hold $25,000 in equity to day trade often, TradeZero has a sister branch in the Bahamas that can avoid this requirement.
TradeZero Margin Rate
Margin trading is, of course, available at TradeZero. The broker has dropped the usual tiered interest schedule in favor of one flat rate. It’s currently 9.25%, which is fine, especially for smaller margin balances.
Stocks priced below $3 are not marginable, and those under $2.50 require $2.50 per share on short positions.
TradeZero has a margin calculator on its website that displays the initial overnight margin for entered ticker symbols on both long and short positions.
ZeroPro
TradeZero has three computer platforms plus one mobile app. ZeroPro is the most advanced of these. It has a lot of power for serious trading. Some key features:
- Full-screen charting with more than 70 technical studies
- Ability to show multiple charts at once using several windows
- Color-coded Level II data
- Trade ticket with separate buttons for short selling and buying to cover
- Various order types (including conditional orders) and time-in-force options
- News stories (not videos) from sources like CNBC
- Time & sales data
- Short locate tool with color-coded accept and cancel options
- Customizable alerts
- Real-time watchlist
- Lists of most active stocks
The main drawback of ZeroPro is its monthly fee (discussed in the pricing section) and its lack of streaming video news.
ZeroWeb
ZeroPro is installed on a desktop. If you’d rather not use downloaded software, you can go with ZeroWeb, which runs in a browser. It shares many of ZeroPro’s functions (like Level II windows, alerts, and news feeds).
ZeroWeb also has hotkeys that can be customized. The settings window can be accessed in the Preferences menu.
ZeroFree
One step down is ZeroFree, a simple platform that runs inside a web browser. Even though it’s basic, it still provides adjustable hotkeys, Level II data, a short locate tool, time & sales information, and real-time quotes. The design of some tools is different here, but many of the same functions exist.
The same order ticket is on ZeroFree, which means there are separate short-selling buttons. Here, the ticket is at the top in a horizontal layout.
The watchlist on Free has a ticker field above it to add symbols quickly. A red x removes items. Other windows, like Level II, charting, and the short locate box, have similar setups.
ZeroMobile
TradeZero’s mobile app works on phones and tablets. It offers some useful features that some brokers’ apps don’t have. For example, the TradeZero app includes a short locate tool to find available stocks for shorting. Many day trading brokers don’t provide this on their apps.
Other functions on ZeroMobile include charting with OHLC data, news feeds, past earnings, a watchlist, your open positions, and more.
Other Software
There is no app for smartwatches at TradeZero. The broker’s website can be used for tasks like ACH transfers and viewing day-trading details.
TradeZero Fees and Minimums
U.S.-based TradeZero accounts don’t pay commissions for trading stocks on the NYSE, AMEX, or NASDAQ as long as shares are $1 or higher.
Options trades also have no base charge, but there is a $0.25 fee per contract. Automatic exercises and assignments are free, while manual exercises cost $35.
Shares below $1 (penny stocks) and OTC stocks cost 0.5¢ per share. There’s a $0.99 minimum and a $7.95 maximum.
Trades on the major exchanges made from 4:00 am to 7:00 am incur a 0.3¢ per-share surcharge.
There is no required deposit to open an account, but TradeZero requires $2,500 for access to any trading platform.
Regarding software fees, ZeroPro or ZeroWeb each cost $59 a month (the subscription includes both). Level II quotes are part of that cost, but OTC quotes aren’t. Those cost $5 a month for OTC Level I or $15 for OTC Level II.
ZeroFree and ZeroMobile don’t have monthly fees, but customers still need a $2,500 deposit before they can use either one.
Customer Support
TradeZero’s website features a chat widget available 24/7. During market hours, you’ll reach a real person; otherwise, it’s a bot. In our experience, answers are accurate. There’s also a tool on the site for uploading files.
Phone support is offered from 8:00 am until 5:00 pm, EST, on weekdays. You can also send an e-mail to support@tradezero.us.
TradeZero has no branch offices, so the above methods are the only ways to contact them.
Miscellaneous Services
Initial Public Offerings: TradeZero does not provide IPO access.
Extended Hours Trading: Both pre-market and after-hours sessions are offered.
DRIP Availability: As a day-trading oriented broker, TradeZero doesn’t have a dividend reinvestment service.
Fractional Shares: Not supported.
Cash Management Features: There are no checks or debit cards. The site does support wires and ACH transfers.
Individual Retirement Accounts: One major drawback is that TradeZero does not offer IRAs, so day trading must be done in taxable accounts, likely creating a long 1099-B come tax season.
Recommendations
Active ETF and Stock Trading: For high-volume equity traders, TradeZero with the ZeroPro platform could be acceptable.
Individual Retirement Accounts: With no IRAs or other retirement plans, TradeZero isn’t an option. We suggest Charles Schwab, which offers IRAs, self-employed 401k plans, custodial accounts, 529 accounts, financial planning, a robo service, annuities, insurance, and more.
Beginners: TradeZero is built for skilled short-term traders, so newcomers may find it confusing.
Robinhood is easier to use and more beginner-friendly.
Mutual Funds: TradeZero has none.
Firstrade offers thousands, and no transaction fees.
Small Accounts: Because TradeZero requires $2,500, we cannot recommend it.
Charles Schwab is preferable, with no minimums, fractional-share trading, and a desktop platform with bracket orders. It also displays margin requirements for individual stocks.
TradeZero U.S. Review Summary
TradeZero is one of the few brokerages that still charges for platforms, and the monthly rate is fairly high. Even worse, it insists on a large deposit to use any software. Without IRAs, the overall value for day trading here is questionable.
Updated on 10/6/2025.
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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