Company Summary
| Aspect | Information |
| Registered Country/Area | United States |
| Founded Year | 1985 |
| Company Name | Firstrade |
| Regulation | Not Regulated |
| Demo Account | Not Specified |
| Minimum Deposit | Not Specified |
| Maximum Leverage | Not Specified |
| Spreads | Not Specified |
| Trading Platforms | Web and Mobile Trader |
| Customer Support | Cals, Email, and Feedback Form. |
Introduction
Firstrade is a US-based trading platform known for its diverse investment products and reliable trading experience. The platform offers traders commission-free trading and efficient transaction processes that make it easier for beginners and experienced traders.
This review will discuss the platform’s features including global assets, account types, security measures, and customer support. It will help you get a comprehensive understanding of the platform for proving its legitimacy.
Firstrade Overview
Firstrade is an established trading platform that provides traders with the best trading opportunities in the global market. The platform offers assets like stocks, mutual funds, options, and ETFs. The platform is designed with a user-centric approach offering zero commission on the trades making it easier to trade and invest.
However, the platform lacks regulatory and fee information which makes it a concern for many investors. This raises the question of the reliability of the platform.
Trading Instruments
At Firstrade, traders get access to multiple trading products. These help traders invest in the global market which enhances their portfolio. The top products are:
Stocks/ETFs
The platform allows you to trade over-the-counter, NYSE, or AMEX-listed stocks. You can invest in penny to large-cap stocks depending on your budget and needs.
Options
The platform provides zero commission and zero contract fees for options trading. Traders get access to advanced analytical tools and strategies like a butterfly, in your trading journey.
Mutual Funds
Firstrade offers over 11000 mutual funds to invest in the global market. The platform provides tools like advanced screeners, fund commentary, and investment programs. All of this helps you grow and make better investments.
Deposits and Withdrawals
The platform does not provide any information regarding deposits and withdrawals. The platform has multiple payment methods including ACH, wire, and account transfers along with checks. The platform does not incur any charges during the deposit and withdrawal at Firstrade.
The transaction is done in less than 3 business days making it quick and efficient for the traders.
Account Types
There are multiple trading accounts that you can open on the platform. All these accounts are created with the needs of investors in mind. The two major account types that you get are :
Brokerage Account
These accounts are perfect for investing individually or with someone else. You can open a joint brokerage account to grow together. The joint account is for traders looking to invest together as a family.
Retirement Account
These accounts are perfect for trades to save taxes and save for the future. These retirement accounts are like future planning done in three different accounts Traditional, Roth, or Rollover Retirement Account.
