Firstrade is an innovator in commission free investment, which is one of the reasons it is considered one of the best discount brokers we have reviewed. Keep on this Firstrade Review to explore.
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What is Firstrade?
The company started as First Flushing Securities back in 1985. By 1997, the company was renamed Firstrade Securities. It launched Firstrade.com as one of the first online trading platforms.
Firstrade Review – The best Free stock trades broker
Along with investment products, Firstrade provides computers, tools and educational resources. It also includes proprietary trading technology as well as an intuitive user interface. In addition, Firstrade doesn’t require a minimum initial deposit. This is one of the better platforms for both self-directed investors and new and small investors.
Firstrade is best for:
- Beginning investors.
- Mutual fund investors.
- Options traders.
- Free commissions.
- Native Chinese speakers.
Firstrade Review – Why should choose Firstrade?
Here are some reasons that you can consider before trying Firstrade’s service.
Firstrade was a pioneer in trading free commissions on stocks, options and ETFs before the brokerage price war in late 2019 that made $0 trade the industry standards. Prior to that, Firstrade was also the only commission free broker offering retirement accounts.
Free trades on all mutual funds
Most brokers have a choice of mutual funds with no transaction fees, but then charge anywhere from $5 to $49.99 to buy or sell stock of non-listed funds. Not Firstrade. Unique to the brokers we reviewed, Firstrade doesn’t charge a transaction fee for any of the thousands of mutual funds it provides.
Firstrade has three trading platforms, including desktop platform, Options Wizard and Firstrade Navigator.
Firstrade Navigator allows you to view your positions and balances and trade all your accounts on one screen, with drop-and-drag customization information related to markets, charts and tracking.
Chinese language options
Native Chinese speakers will appreciate that Firstrade’s platform is available in traditional and simplified Chinese.
Firstrade has launched a mobile app, including intuitive swipe actions, a consolidated portfolio dashboard and upgraded research with advanced charting capabilities.
The app syncs instantly with desktop platforms and users can transact, transfer money between accounts, view order history and create watchlists to keep track of trading opportunities. The app is available on both Android and iOS.
For some international investors
In addition to the United States, Firstrade also accepts customers from Japan, Korea, China, Hong Kong, Macao, Taiwan, Singapore, New Zealand and Mexico.
Note: International investors must provide foreign tax ID number and passport information to open an account.
Trade faster, smater with Firstrade app
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Firstrade pros and cons
- Firstrade provides free stocks, ETFs, mutual funds and options trading.
- Non-transaction fees are also low.
- The research is high quality and includes lots of tools, including trading ideas and detailed fundamental data.
- There are good quality educational tools, from educational videos to webinars.
- It doesn’t offer credit/debit cards and electronic wallets as money transfers.
- The product portfolio includes the US market only.
- Customer service is only 24/5 and no live chat is provided.
If you are looking for an easy-to-use, low-cost, comprehensive, all-round easy-to-use broker, you will find Firstrade very suitable. And, for Chinese-speaking investors, Firstrade is the winner.
Well, if you want to know more about their services, you can go to their website – www.firstrade.com or click the link below.