TradeZero Review

Active traders and short sellers

SCB FINRA SIPC CIRO AFM

Founded 2015 · Bahamas

Why investors choose this broker

Commission-free limit orders on eligible U.S. stocks
Strong short-selling tools with integrated stock locate feature
Extended trading hours 4 AM to 8 PM ET
Up to 6:1 intraday leverage for international accounts; 4:1 intraday for TradeZero America

Review summary

TradeZero is an active-trading broker founded in 2015 offering commission-free limit orders, direct market access, short-selling tools, and 16-hour extended trading hours.

Pros

Commission-free limit orders on eligible U.S. stocks
Strong short-selling tools with integrated stock locate feature
Extended trading hours 4 AM to 8 PM ET
Up to 6:1 intraday leverage for international accounts; 4:1 intraday for TradeZero America
Free paper trading account with $1,000,000 in virtual funds
No inactivity fee
24/7 live customer support
Multiple platform options including free ZeroFree tier

Cons

ZeroPro subscription costs $59 per month
Outgoing wire fee of $50 per transaction
No forex, futures, crypto, or bonds offered
Minimum deposit of $2,500 for U.S. accounts
Short locate fees add cost for active short sellers
International clients lack SIPC protection
Market orders and sub-200-share orders incur per-share fee

Company background

TradeZero was founded in 2015 by Daniel Pipitone and John Muscatella and is headquartered in Nassau, Bahamas. The company operates multiple regulated entities: TradeZero International serves international clients, TradeZero America launched in April 2019 as a FINRA-registered U.S. broker-dealer, TradeZero Canada holds a CIRO registration, and TradeZero Europe operates under AFM oversight in the Netherlands. The broker focuses on active equity trading and has received Benzinga Fintech Awards recognition for short selling and paper trading.

Fees and pricing

TradeZero offers commission-free limit orders on NYSE, AMEX, and NASDAQ-listed stocks priced above $1 per share when the order is for 200 or more shares and does not create an immediate match. Orders outside these criteria - including market orders and orders for fewer than 200 shares - are charged $0.005 per share with a $0.99 minimum. OTC and penny stocks are charged $0.005 per share with a $0.99 minimum and a $7.95 maximum.

Options carry no commission but a $0.42 per contract fee applies, capped at $20 per order. Index options carry an additional $0.65 per contract. Manual exercise costs $35. ZeroPro and ZeroWeb together cost $59 per month; ZeroFree and ZeroMobile are free. Margin interest runs at 9% annually. Outgoing ACH costs $5 and outgoing wire transfers cost $50. There is no standard inactivity fee.

Regulation and safety

TradeZero International holds a Securities Commission of the Bahamas (SCB) license (SIA-F151). TradeZero America is a FINRA member and SIPC participant, providing U.S. clients protection up to $500,000 per account ($250,000 for cash). TradeZero Canada is registered with CIRO, and TradeZero Europe is regulated by the AFM. Client funds are held in segregated accounts at Tier 1 banks. International clients using the Bahamas entity do not have SIPC coverage.

Platform experience

TradeZero offers four trading environments. ZeroPro is a feature-rich desktop application with Level 2 market data, hotkeys, and over 80 technical indicators. ZeroWeb is the browser equivalent of ZeroPro. ZeroFree is a no-cost streaming platform for entry-level traders. ZeroMobile provides iOS and Android access at no charge. All platforms support the full 4 AM to 8 PM ET extended session. A paper trading account funded with $1,000,000 in virtual funds is available for practice, and a patented short-stock locator with credit-back capability supports active short sellers.

Pros and cons

TradeZero's strengths include commission-free limit orders for eligible trades, 16-hour extended trading hours, strong short-selling tools, up to 6:1 intraday leverage on international accounts (4:1 for TradeZero America), a free paper trading account, and 24/7 live support. The main drawbacks are the $59 monthly ZeroPro fee, a $50 outgoing wire fee, the absence of forex, futures, and crypto, a $2,500 minimum deposit for U.S. accounts, and no SIPC coverage for international clients.

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Trading fees & commissions

TradeZero offers commission-free limit orders on U.S. listed stocks priced above $1 when orders meet size criteria; market orders and smaller orders cost $0.005 per share with a $0.99 minimum. Options carry no commission but a $0.42 per contract fee applies (capped at $20 per order), and the ZeroPro platform subscription is $59 per month.

Fees

Item	Fee
Margin	9% annual interest on debit balances
Account	No account opening fee; minimum deposit $2,500 for U.S. clients
Deposit	Incoming ACH and wire: $0
Options	Commission: $0; options contract fee: $0.42 per contract (capped at $20 per order); index options: additional $0.65 per contract; manual exercise: $35
Platform	ZeroFree and ZeroMobile: $0; ZeroPro: $59/month
Inactivity	No inactivity fee; up to $5 per quarter for accounts under $100 with no securities and no trading activity
Withdrawal	Outgoing ACH: $5; outgoing wire: $50

Trading platform & features

Platforms

ZeroPro
ZeroWeb
ZeroFree
ZeroMobile
iOS app
Android app

Regulation and investor protection

TradeZero operates through multiple regulated entities: TradeZero International is licensed by the Securities Commission of the Bahamas (SCB), TradeZero America is registered with FINRA and is a SIPC member, TradeZero Canada is registered with CIRO, and TradeZero Europe is regulated by the AFM in the Netherlands. U.S. clients at TradeZero America receive SIPC protection up to $500,000 ($250,000 for cash).

Broker FAQs

Is TradeZero safe?

TradeZero operates through regulated entities in multiple jurisdictions. TradeZero America is a FINRA member and SIPC participant, providing U.S. clients with protection up to $500,000 per account. Client funds are held in segregated accounts at Tier 1 banks.

Is TradeZero a scam?

No. TradeZero operates through licensed entities including TradeZero America, which is FINRA-registered and SIPC-insured, and TradeZero International, which is licensed by the Securities Commission of the Bahamas.

Is TradeZero regulated and by whom?

Yes. TradeZero International is regulated by the Securities Commission of the Bahamas (SCB). TradeZero America is registered with FINRA and is a SIPC member. TradeZero Canada is registered with CIRO, and TradeZero Europe is regulated by the AFM in the Netherlands.

Does TradeZero keep client funds in segregated accounts?

Yes. TradeZero states that client funds are held in segregated accounts at Tier 1 banks, separate from company funds.

What happens to my money if TradeZero goes bankrupt?

U.S. clients at TradeZero America are covered by SIPC up to $500,000 per account ($250,000 for cash). International clients using the Bahamas entity do not have SIPC protection, though funds are held in segregated accounts at Tier 1 banks.

What products does TradeZero offer?

TradeZero offers U.S. stocks, ETFs, options, and margin trading. It does not offer forex, futures, cryptocurrencies, bonds, or mutual funds.

Does TradeZero offer ETFs?

Yes. TradeZero lists ETFs as a tradable product and applies the same commission schedule as stocks, including commission-free limit orders on eligible ETF trades.

Does TradeZero offer options trading?

Yes. TradeZero offers equity options with $0 commission per contract, subject to a $0.42 per contract fee capped at $20 per order. Index options carry an additional $0.65 per contract.

Does TradeZero offer short selling?

Yes. TradeZero is known for its short-selling capabilities, including a patented stock locator with a credit-back feature for accessing hard-to-borrow shares. Short locate fees apply and vary by security.

What does TradeZero charge for stock trades?

Limit orders on NYSE, AMEX, or NASDAQ stocks priced above $1 for 200 or more shares are commission-free. Other orders are charged $0.005 per share with a $0.99 minimum. OTC and penny stocks are charged $0.005 per share with a $0.99 minimum and a $7.95 maximum.

What does TradeZero charge for options trades?

TradeZero charges $0 commission per contract. An options contract fee of $0.42 per contract applies, capped at $20 per order. Index options carry an additional $0.65 per contract.

Is there a withdrawal fee at TradeZero?

Outgoing ACH transfers cost $5. Outgoing wire transfers cost $50. Incoming deposits via ACH or wire are free.

Does TradeZero charge an inactivity fee?

TradeZero does not charge a standard inactivity fee. Accounts with balances under $100 that hold no securities and had no trading activity in the prior quarter may be charged up to $5 per quarter as an unqualified account fee.

How much does ZeroPro cost?

ZeroPro, TradeZero's feature-rich desktop platform, costs $59 per month. This subscription also includes access to ZeroWeb. ZeroFree and ZeroMobile are available at no charge.

Does TradeZero have a demo account?

Yes. TradeZero offers a paper trading account funded with $1,000,000 in virtual funds, available at no cost to registered users.

Does TradeZero have a mobile app?

Yes. TradeZero offers ZeroMobile for iOS and Android at no additional charge. The mobile app provides access to trading but has a more limited feature set than ZeroPro or ZeroWeb.

Is TradeZero good for beginners?

TradeZero offers a free paper trading account and a no-cost ZeroFree platform, which provide accessible entry points. However, the $2,500 minimum deposit for U.S. accounts, platform subscription costs for advanced tools, and focus on active trading features make it less suited to typical beginners.

Is TradeZero good for long-term investing?

TradeZero is primarily designed for active traders. It does not offer bonds, mutual funds, fractional shares, or retirement accounts, which limits its suitability for long-term buy-and-hold investors.

Bottom line

TradeZero suits users who want commission-free limit order trading, strong short-selling tools, extended trading hours, and direct market access for active U.S. equity and options trading. It may not suit users who want a broader product range including forex, futures, or crypto, or those seeking a platform designed for long-term investing or beginners with limited capital.

TradeZero

Active traders and short sellers

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Your capital is at risk. Other fees apply.