Does TradeZero carry insurance to protect customer securities and funds from loss?
Yes, TradeZero Canada is a member of the Canadian Investor Protection Fund (CIPF), which provides protection to clients of member firms against the loss of up to $1 million in missing property, including securities and cash, due to member insolvency. Therefore, in the unlikely event that TradeZero Canada were to become insolvent, your investments with us would be covered by CIPF up to the coverage limit. Please see https://www.cipf.ca/cipf-coverage/about-cipf-coverage for more information. Additionally, TradeZero Canada maintains clearing accounts which hold client securities and cash with one or more United States broker dealers that are member firms of the Securities Investor Protection Corporation (“SIPC”). In the event that one these SIPC member firms is placed in United States Securities Investor Protection Act liquidation, TradeZero Canada’s customers may be eligible for SIPC protection against the loss of securities and cash on a pass-through basis. Please see: https://www.sipc.org/for-investors/investor-faqs.
Who is TradeZero?
TradeZero Canada (TZC), along with its global affiliates, provides clients with direct market access trading to US Marketplaces. TZC offers a full suite of online trading platforms, and commission free stock trading*.
TradeZero Canada is a Member Firm of Investment Industry Regulatory Organization of Canada (IIROC) and a Member of Canadian Investor Protection Fund (CIPF).
*Please refer to pricing page for further details. Conditions may apply. Other fees and regulatory charges may apply.
How can I always pay $0 in commission with my trades?
It doesn’t matter if you are long or short, as long as you use a limit order to execute away from the market, and the stock is trading at $1 or higher in share price.
What firms are used to locate stock?
Vision, Convergex, and others.
If TradeZero is directing my trade, will I still get the best possible execution price?
As TradeZero offers US market access and clears through a US clearing firm, TradeZero is subject to Reg NMS. This basically states that firms are obligated to provide investors with executions at the best possible price. To read more about Reg NMS on Wikipedia, click here.
Who is the clearing firm?
Vision Financial Markets. Vision is a US based clearing firm registered with FINRA and the Securities and Exchange Commission. http://www.vfmarkets.com/
How does TradeZero profit from free limit orders?
The TradeZero smart router will route the non-matched orders to market centers that provide payment for order flow or rebates. These market centers include ARCA, EDGX, BATS, NSDQ and others.
How does TradeZero make money if it offers $0 commission?
Rebates are paid for order flow by various market centers including EDGX, ARCA, and NASDAQ.
Does TradeZero charge any routing fees?
No, all fees are either $.005 per share or free. There are no additional routing fees.
What are the client support options?
Phone support is available from 7am to 5pm ET. Web chat is available 24 x 7.
Does the demo provide real time data?
The free demo provides streaming 15 minute delayed data. Demo executions DO NOT in any way reflect live trading executions. They should not be used as a metric for how live trading works or executes in any way.
Are accounts accepted from outside Canada?
In order to open an account with TradeZero Canada, you must be a resident of Canada with a valid Social Insurance Number. US Citizens or Green Card Holders may open accounts with TradeZero America, Inc., a broker dealer regulated by U.S. Securities and Exchange Commission and member of FINRA.
If you are a legal resident of a country that is other than Canada or USA, you may be able to open accounts with TradeZero International, a licensed broker dealer regulated with the Securities Commission of the Bahamas.
How is the short list?
The short list is extensive and derived from multiple pools of easy to borrow lists, including Vision and Convergex. Hard to borrow shares can also be located for a fee.
Can I trade on the TSX?
No. Trading Canadian listed securities on any markets is not currently available.
How much is needed to open a new account?
Accounts can be funded with as little as $500 USD
How are clients able to see what stocks are shortable?
The short list is imported daily onto the trading platform. If the stock is permissioned to be shorted, the platforms will show a green S next to the symbol box. The entire short list is also posted on the client online portal.
I do not have experience trading, but I am curious and I want to learn, can you help?
TradeZero has education partners that can help you with learning how to trade. TradeZero can also provide you a real-time demonstration.
What are the short locate fees?
The fees are quoted per share. The rate is determined by the difficulty to borrow the stock on that day.
How can I become a TradeZero affiliate?
At TradeZero our door is always open to new relationships. Please contact us if you would like to be part of the TradeZero team. We offer all our affiliates unlimited earnings potential. Learn more by clicking here. Get started today and become one of our trusted partners
What is the maximum leverage I can trade with TradeZero Canada?
Up to 3 to 1 during regular trading sessions between 4 a.m. - 4 p.m.
Can I hold more than 2 to 1 equity after 4PM?
All levered accounts cannot hold more than 2 to 1 leverage going into the 3:45PM Eastern Time Close. TradeZero Canada reserves the right at it's discretion, to sell or cover any account that has exceeded this threshold, by the 4PM Eastern Time close. All Levered accounts are limited to only 2 to 1 in the after-hours session.
Can you set a daily loss limit on my account?
Yes, we have risk tools and can enable a daily loss limit to your trading account. Please note that daily loss limits only apply to normal market hours. Sellouts will not occur in premarket and after hours sessions. This daily loss limit does not 100% guarantee against any loss. Clients should still be monitoring their trading accounts actively. Orders such as Stop Loss order should also be used when trading.
How can I fund my account?
You may fund your accounts using bank wire transfer. Please note that the name appearing in the bank account from where the funds are transferred must be the same as what is on file with us. Third Party Funding is not accepted.
When does my buying power update for the new trading day?
7am Eastern Time.
Do you offer Pre and Post market trading?
Yes, Pre-market trading begins at 4 am Eastern Time, and Post-market trading ends at 8 pm Eastern Time.
Can I freeze or put my account on hold so I do not pay software fees?
Yes, Your account can be placed on hold or switched to our ZeroFREE platform so you do not incur any software fees when taking time away from trading. Please make sure you make such request before 4PM on the last business day of the month.
Do I need funds in my account to select my trading software?
Accounts must have a minimum balance of $200 USD.
Are there any restrictions or rules for trading?
Stocks interlisted in Canadian and the US market cannot be traded.
Stocks below $1 USD cannot be shorted
Cash accounts and accounts with less than $500 USD cannot short sell
Stocks below $2 USD are trading in cash only
Stocks less than $0.10 USD cannot be traded
Accounts will be fully sold out if they reach 15% equity or $99 USD in total equity remaining
All of the above is at the discretion of TradeZero Canada and can and will be adjusted based on real time market and account conditions.
What are the minimum specifications for running ZeroPro?
Win7 SP1+ (no Mac)
.Net Framework 4.6.2+
How does TradeZero handle options contracts on the expiration date?
To minimize risk we may close option positions in the last 2 hours of trading on the day of expiration.
Can you use the platform on Mac OSX?
Yes, ZeroWeb and ZeroFREE can be used on a Mac via Google Chrome and or Mozilla FireFox, please do not use it with Safari. ZeroPro version would require Windows emulation, Parallel PC to run on Mac.