No, You Don't Have to Pay TradeZero Fees - Here's How
If you’d like to learn how to reduce and waive , you’re in the perfect spot. TradeZero is a prominent stock trading software that allows you to trade and locate stocks in a real-time market.
You can also access direct markets from any device. But wiring money in and out of your TradeZero account can be expensive since the trading broker is unregulated by the government.
DoNotPay can help you reduce those hefty TradeZero fees and transactional charges by appealing a waiver and pleading the case on your behalf. We can work with any merchant to help you reduce any transactional fees. Best of all, it’s fast and easy to accomplish.
How Much Does TradeZero Charge per Transaction?
vary based on the type of trade. We’ve broken down their charges here, but remember that these costs are subject to change.
Traditionally, TradeZero offers some equity orders commission-free.
- The offer only applies if your order is an unmatched limit order.
- Your stock must also trade at $1.00 on major trading platforms such as NYSE.
- Other orders with a $0.99 minimum incur a cost of $0.005 per share. These orders cost $20 while trading with a live agent.
- Wiring in and out of your account for non-Bahamian residents gets higher charges than resident traders.
- Trading NYSE, AMEX or NASDAQ from 4:00 AM EST to 7:00 AM EST (Buy 100 IBM 118.00 @ 6:00 AM EST) costs $0.003 per $0.30 share.
The following types of fees incur a commission of $7.95:
- OTC / Pink Sheets: $7.95 per trade, up to a maximum of 250,000 shares per trade (Buy 200,000 FNMA $0.80)
- Trading NYSE/AMEX below $1.00 Buy 5,000 NBY 0.50
- Trading NASDAQ below $1.00 Buy 10,000 SHIP 0.90
What Fees Does TradeZero Charge?
1. Withdrawal Fees
TradeZero charges withdrawal fees depending on your selected method of withdrawal. You can withdraw through credit cards, debit cards, or bank transfers. Rules on how you can withdraw your funds are dictated by your trading broker.
You might incur extra conversion charges while withdrawing. The conversion charges depend on base currency, receiving currency, and your payment provider.
2. Commission Fees
Commission fees are charged by brokers for facilitating the buying and selling of financial assets on your account. Commission fees are determined by the level of your reading account, type, and financial asset type.
You incur the commission fees if a broker cancels an order, fulfills your order, or modifies the order on your behalf.
Does TradeZero Have Any Hidden Fees?
TradeZero has been championed as one of the most prominent platforms to offer 100% free non-marketable limit orders. The offer, however, applies to unmatched limit orders. The orders must also trade at $1.00 on major trading platforms like NYSE.
TradeZero does not regulate the withdrawal and commission fees you incur. Instead, they are regulated by your trading broker and can be quite expensive for you. You pay even more for your transactions if you do not reside in Bahrian.
If your account has a balance under $100, did not trade during the previous year, and does not hold security, you will be charged up to a $5.00 quarterly Unqualified Account Fee.
How to Avoid or Reduce TradeZero Fees on Your Own
|Using a Zero Fee Broker||Zero-fee brokers are not entirely free. However, these brokers sell retail trades to marketplace makers "off-alternate," allowing marketplace makers to avoid the costs.
Zero-fee brokers make money by lending their customers' deposits to margin traders and earning interest. Hence, they’re not legally obligated.
|Using a Fixed Price Broker||A fixed-price broker helps reduce fees for you if you are engaged in large orders. The brokers will earn the same commission no matter their trade size.|
|Evaluating Trades on Your Own||Your broker might have the best offers, but you could still lose money.
Evaluate the fees before trading and only go for the order that facilitates your money ranges.
Choose the best risk/reward ratio to cover the fees comfortably. This strategy will help you avoid over-trading, thereby reducing your loss margins.
How to Avoid TradeZero Fees With the Help of DoNotPay
DoNotPay is an excellent, automated way to waive and reduce your TradeZero fees without struggling.
Here's how you can use DoNotPay to appeal fees:
1. Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
2. Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
3. Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
Why Use DoNotPay to Avoid TradeZero Fees?
DoNotPay is an automated platform to simplify your legal and day-to-day issues. The Fight and Waive Fees product allows you to with just a click of a button. The process is smooth, fast, and reliable.
Some other fees DoNotPay can help you manage include:
- eBay fees
- Coinbase fees
- Robinhood fees
- PayPal seller fees
- Spirit Airlines baggage fees
- HOA fees
- Etsy fees
- Chase checking account fees
- Shopify fees
But that’s not all you can do with the app.
DoNotPay Can Help You With Other Services
DoNotPay is the first robot lawyer that works with private companies and government entities to do more than reduce your trading fees. We simplify your tedious paperwork, save you time lining up in offices, and bring the service right to you just by a click of a button.
Sign up on our website and enjoy the following services and more:
- Acquire a clean credit report
- Cancel any service and subscription
- Sue for breach of contract
- Appeal for a banned account
- Apply for chargebacks and refunds
Try it today and see all the ways you can save money with DoNotPay.