Phoenix Markets
Zacks Trade
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Overview
Phoenix Markets was founded in 2013 and is headquartered in Cyprus, while Zacks Trade was established in 2008 and is based in United States. Phoenix Markets holds licences including Cyprus Securities and Exchange Commission (CySEC), while Zacks Trade is regulated by Unregulated among others. Phoenix Markets serves 10,000+ clients worldwide; Zacks Trade has 10,000+. The minimum deposit is $500 at Phoenix Markets and $2500 at Zacks Trade.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| Min. Deposit | $500 | $2500 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 2013 | 2008 |
| Country | Cyprus | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Phoenix Markets and Zacks Trade, directly affecting your bottom line as a trader. Zacks Trade has a lower barrier to entry with a minimum deposit of $2500 (vs $500 at Phoenix Markets). Neither broker charges withdrawal fees. Zacks Trade charges deposit fees; Phoenix Markets does not. Overall, Phoenix Markets scores higher on fees in our assessment.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| Min. Deposit | $500 | $2500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Phoenix Markets offers MT4, MT5, cTrader, while Zacks Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,mac,Android.iPhone/iPad | Android,iPhone/iPad,Tablet |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Phoenix Markets and Zacks Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Zacks Trade scores higher overall in education and research.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Phoenix Markets accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Zacks Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Phoenix Markets and Zacks Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Phoenix Markets | Zacks Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |