Firstrade offers investment and retirement accounts for US-based and international investors. Firstrade provides commission-free trading on everything, including stocks, ETFs, options, and more. The brokerage also provides customer service and online trading for Chinese-speaking investors.
With free commissions on trades — including all mutual funds — and a $0 account minimum, Firstrade is among NerdWallet's top picks for discount brokers.
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Firstrade at a glance.
| Account minimum | $0 |
|---|---|
| Commission-free ETFs | All ETFs are commission-free. |
However, unlike many of the other $0 commission brokers, Firstrade is still an adequate choice for active stock and options traders looking for streamlined order entry, featuring advanced option spread trading and rock bottom costs.
Firstrade is considered safe because it has a long track record and is overseen by top-tier regulators. We selected Firstrade as Best IRA broker for 2021, based on an in-depth analysis of 70+ online brokers that included testing their live accounts.
Day Trading Buying Power for equity securities will be four (4) times the NYSE excess as of the close of business on the previous day, and the "time and tick" method of calculating Day Trading is acceptable.
Firstrade offers special services such as Chinese (Simplified and Traditional) online trading sites and Chinese (Mandarin and Cantonese) toll-free phone help.
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Firstrade Securities.
| Lower costs, higher standards. | |
|---|---|
| Type | Privately held company |
| Founded | 1985 |
| Founder | John Liu |
| Headquarters | Flushing, New York, United States |
You can withdraw funds from your account in one of three ways.
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Mobile App
The short answer is yes. The long answer is that it depends on the strategy you plan to utilize and the broker you want to use. Technically, you can trade with a start capital of only $100 if your broker allows. However, it will never be successful if your strategy is not carefully calculated.
Firstrade makes money primarily from interest generated on its credit balances and margin balances, similar to how a bank makes interest on deposits and mortgage income. Firstrade also receives income through routing venues and shares execution income.
Although Firstrade doesn't offer direct cryptocurrency trading, there are nevertheless multiple ways to gain exposure to Bitcoin and other digital currencies with a Firstrade account.
If you want to know more about Firstrade fees, check out the fee chapter of our Firstrade review. The average transfer times for the different methods are: Wire transfer: 2-3 days. Credit / debit card and online wallets: instant or a few hours.
Firstrade OTC Stocks Cost
Firstrade charges $0 (yes, zero) commission to trade penny stocks. ... It is now completely free to buy regular stocks, penny stocks, OTCBB stocks, and pink sheet stocks. On the sell side, the broker passes on regulatory/exchange fees; although these are very small.
In order to trade options, we require investors to submit an Option Application & Agreement. A completed application can be uploaded to Customer Service-Form Center-Upload Form; or emailed to [email protected].
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