Firstrade Review

Firstrade Logo

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 Review - Advantages
Firstrade Review – Advantages

Firstrade Review Introduction

In this Firstrade review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including Firstrade.

Firstrade Platforms & Tools

Firstrade Review - Trading Platforms
Firstrade Review – Trading Platforms

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.

Firstrade Review - Mobile Trading App
Firstrade Review – Mobile Trading App

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 Review - Video Commentary
Firstrade Review – Video Commentary

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 Regulation

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.

It is worth mentioning that some of the trading products and services in this Firstrade review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Firstrade broker website which you can visit by using the link below.

Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

Firstrade

6.8

Spreads

6.0/10

Liquidity

6.0/10

Commissions

7.0/10

Support

7.0/10

Regulation

8.0/10

Features

  • Comprehensive market research
  • Competitive trading fees
  • Many helpful trading tools
  • More than 35 years of experience