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Is TradeZero a Scam? Is TradeZero Safe and Legit? TradeZero Review.
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Is TradeZero a Scam?
Considering opening a brokerage account with TradeZero and curious about its reliability and security? We've researched thoroughly and here’s what you need to know.
Who owns TradeZero?
Founded in 2019, TradeZero America is owned by Daniel Pipitone, co-founded with John Muscatella. It’s an online broker-dealer offering commission-free trading, similar to Firstrade. Initially, TradeZero started in 2015 as TradeZero Inc., an offshore broker in the Bahamas, serving non-U.S. citizens.
Both entities are privately held, with key officers listed on FINRA’s BrokerCheck.
Background
TradeZero aims to provide a professional trading service with features surpassing those of basic commission-free platforms like Robinhood. It offers four distinct trading software options, including ZeroPro and ZeroMobile, and markets features such as 24/7 customer service and up to 6-to-1 leverage.
Is TradeZero legitimate?
TradeZero America is SEC registered and operates under FINRA regulation. No disclosures have been filed with FINRA, which supports its credibility. TradeZero Inc. is regulated by the Securities Commission of the Bahamas.
Top TradeZero competitors for U.S. investors
Is TradeZero secure/insured?
Both TradeZero America and TradeZero Inc. are members of SIPC, providing up to $250k coverage per account. Contact TradeZero directly for specifics on digital security practices.
Is TradeZero accredited by the Better Business Bureau?
TradeZero is not BBB accredited and has no BBB profile, which is neutral and does not indicate any negative or positive reputation.
Wrapping up: Is TradeZero a Scam?
TradeZero is a legitimate brokerage. It is a newer broker but offers insured and secure services comparable to more established brokers. If you’re an active trader seeking a low-cost platform, TradeZero could be worth considering, particularly TradeZero America for U.S. citizens.
Top TradeZero competitors for Non-U.S. investors
Updated on 7/5/2024.
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