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Zacks Trade review

Founded 2013 (Zacks Trade); entity LBMZ Securities 1978HQ Chicago, Illinois, USAPlatforms Web, Desktop, Mobile

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No integration. QuantWheel cannot read accounts at Zacks Trade, so you cannot use it with QuantWheel.

Fee per contract
$1 first / $0.75 additional
to open a contract
Exercise and assignment
Free
no fee per event
Approval
Not published
Margin rate
8.83%
on a $50,000 balance
Countries
Not published

What you can trade

From the options agreement

  • 0DTE (Not published)
  • Index options (SPX) (Not published)
  • Options on futures (Not published)
  • Spreads in an IRA (Not published)
  • Portfolio margin
  • Paper trading (Not published)
  • 24/7 support, not offered

PlatformsWeb, Desktop, Mobile

Cost to open

Per-contract fee only

One cash-secured put1 contract
$1
Ten-lot iron condor40 contracts
$40
Twenty covered calls20 contracts
$20
One turn of the wheelput assigned, call exercised, 2 contracts
$2

Exchange fees and per-order minimums are extra where the fee schedule has them.

What Zacks Trade costs for the way you trade

A year of fees from Zacks Trade's published prices, checked 7 and 8 October 2026.

How you trade
8
1
$1.20
Zacks Trade standard price$1.40 a trade, 1.2% of your premium
$134 a year
Among 21 brokers open to residents of the United StatesLowest is Firstrade at $3.67 a year, plus small regulatory fees it does not publish
14th on the fees it publishes

Not counted because Zacks Trade does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price.

Compare every broker for this pattern

QuantWheel

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No integration. QuantWheel cannot read accounts at Zacks Trade, so you cannot use it with QuantWheel.

Connect Zacks Trade

Fees explained

What each line of the fee schedule means for an options order

Zacks Trade

$1 first / $0.75 additional, charged on each leg. A ten-lot iron condor is 40 contracts, so $40 to open, and the same again if you close it before expiry. Exchange fees and per-order minimums are extra where the fee schedule has them.

No fee per event. An assigned put or an exercised call costs nothing beyond the per-contract fee. Cost to open

The broker does not publish its highest options level. It does not publish whether spreads are allowed in an IRA. Portfolio margin is offered.

Not published.

What changed at Zacks Trade

Every fee, term and policy we track, with the day it moved

No change recorded since the last check. A change to a fee or a rule appears here on the day we record it.

Questions people ask

Answered from the documents above

Zacks Trade

No; QuantWheel cannot read accounts at Zacks Trade. Connect Zacks Trade

$1 first / $0.75 additional, and no fee per exercise or assignment, from the fee schedule checked 8 October 2026. Exchange fees are extra. Compare fees across brokers

It does not publish whether 0DTE trading is allowed. It does not publish whether index options such as SPX are offered. Brokers for 0DTE

Zacks Trade does not publish which countries it accepts. Ask Zacks Trade before you open an account. Brokers by country

Facts from Zacks Trade's own fee schedule and options agreement, checked 8 October 2026.