Table of Contents
Established in 1985, Firstrade is an experienced, award-winning online broker that provides investors with access to the U.S. markets for trading stocks, ETFs, options, mutual funds, and more. They offer a range of trading accounts, trading platforms for multiple digital devices, and innovative trading tools based on the latest technologies. Their trading fees start from $0, with no hidden fees, and they have fast execution speed — 0.068 seconds on average, according to them.
Firstrade Platforms & Tools
Firstrade provides a number of ways for investors to access their accounts and manage their trading via web and mobile applications, and these trading platforms are available in English, Traditional Chinese, and Simplified Chinese. The Firstrade Online Dashboard is one of the most convenient ways to place, manage, and close orders with this broker. Another trading platform from this broker is the Firstrade Navigator, which lets you manage your account and trade from one screen. There is also the Firstrade Mobile Trading App for iOS and Android devices for people who want to trade on the go, as well as broker-assisted trading where you contact a representative to help you place trades.
The broker also provides a comprehensive collection of trading tools, including Streaming Watchlist, Stock Reports, Advanced Screeners, Fund Commentary, Periodic Investment Program, Market Heatmap, Options Wizard, Fundamental Data, and more.
Firstrade Research & Education
The broker has a dedicated education center with a huge collection of educational materials. Their educational resources include trading guides that cover different markets, trading videos that consist of analysts’ discussions on different trading topics and assets, and a trading glossary that covers the most commonly used trading terminologies.
Firstrade Trading Accounts
Firstrade offers different account types, such as the following:
- Regular Investing Account: Individual or joint brokerage account for regular investors.
- IRA Retirement Account: Used to plan and save for retirement.
- International Accounts: For non-residents of the US
- Business Accounts: For corporations, partnerships, and other registered businesses.
- ESA Education Planning Account: Previously known as Education IRA, the account is for those who wish to the education of a designated beneficiary.
- Custodial Account: For minors, until they reach the legal age of adulthood
- Cash Management Account: It enables clients to consolidate banking and brokerage services in one account.
Firstrade Account Funding
Firstrade accepts wire transfers, ACH, and check for account funding and withdrawals. There is no minimum amount for depositing funds, but there is a $30 domestic wire fee or a $50 international wire fee. Bank transfers may take a few days to clear. Third-party payments are not accepted.
Firstrade Customer Service
The broker has a customer support center that can help you get answers to general and technical questions. You can reach them through online chat, phone, and email. They can also be reached via social media channels like Facebook and Twitter.
Firstrade is a brokerage brand operated by Firstrade Securities Inc., a US-based firm. So, it is regulated by the U.S. Securities and Exchange Commission (SEC), which usually requires all brokers to publicly report their quarterly routing of customers’ orders. Also, Firstrade Securities is a member of the Financial Industry Regulatory Authority — a private corporation that acts as a self-regulatory organization and ensures trust between financial firms and their investors. It is also a member of the Securities Investors Protection Corporation (SIPC) — a federally mandated, non-profit organization of US-registered broker-dealers.
Firstrade Review Summary
Firstrade is a popular online broker that is based in the US, with a wide range of tradable assets, flexible trading platform, innovative trading tools, competitive trading fees, and a variety of account types. But they do not offer forex, CFD, or crypto trading.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.