My Review on Trade Zero

[appplejack003 2]

https://www.tradezero.co

 

When I started day trading 6 months ago I opened an margin account a broker (in Canada) who charges about $10 for a round-trip execution.

Having a rather small-sized account this was somewhat of a threat in the long run for a new trader who needs to learn the rope.

Also their data package and charting were being sluggish not to mention poor hotkey executions. The most disappoint thing, however, was that I'd have to call them before the market hours to locate shares for shorting. They have shorts available for a lot of the well-known stocks like apple,IBM,coca cola but there were also a lot of stocks that they don't have shares available for shorting and they'd have to borrow them from other brokers.

 

I started looking around and at that time I belonged to another chatroom and I got a recommendation for Trade Zero.

I've read some reviews before I decided to open an account there and also asked their support team some questions.

Unfortunately, this broker is not available for US residents.

 

Pros:

 

1.If you put a limit order (for minimum of 200 shares) and you don't remove the liquidity from the market, they commission is practically zero.

You might get some tiny fees which is a beyond the scope of my knowledge but overall, it can only cost few pennies per trade.

2.Up to 6:1 margin if your account balance is above $2500USD. 4:1 margin for accounts under $2500 and 1:1 for accounts under $500.

3.Short shares are easy to borrow with execution

4.Nice platform (it never crashed or froze on me).

 

Cons:

1.The customer support team sometimes don't seem to know all the details of the operation and they take some time to answer your questions. But overall they have a good support team.

2.Brokerage is located in the Bahamas and for some people this can be a deal breaker (not for me).

3.Wiring cost is rather high. ($30 inbound and $75 outbound)

4.You must keep paying for their platform every month as long as you have an account with them (which is not really suitable unless you are an active trader.)

 

Being an active trader, I found that the pros outweigh the cons significantly and executions are fast.

If you think you're getting chewed up by commissions, consider opening an account with them.

I don't regret switching over.

[TradingKiwi 0]

I've just created my brokerage account with Tradezero, I was wondering how you found the wiring process? I obviously need to wire my starting capital and then I'll need to be wiring money out once I reach the point whereby I am profitable enough to make a living etc. I was just curious about your experience with them?

[Erwann 13]

Hello,

Thanks for the review. Seems to be a nice alternative to DAS.

Do you have marketable limit orders with Tradezero please?

[Pvigneault 1]

I just wanted to point out that a journaling/analysis software called Edgewonk now supports TradeZero .csv statement import for faster journaling. Also, both TradeZero and Edgewonk have free trials.