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Firstrade Securities Review
Firstrade Securities is a commission free US broker founded in 1985. It offers stocks, options, ETFs, mutual funds, and bonds, but not forex or CFDs.
Min Deposit
$0
Spreads From
Commission-free
Max Leverage
Not applicable, no leveraged forex or CFD product offered
Platforms
3
Pros
- FINRA member since 1985, one of the older US discount brokers around
- Zero commission on US stocks, ETFs, options, and mutual funds
- No minimum deposit is needed to open a brokerage account
- Site and support are offered in English and two Chinese scripts
Cons
- No forex or CFD trading, so this is not built for currency traders
- Mainly serves the US market, unlike dedicated global forex brokers
- No published spread or leverage figures exist since none are offered
Firstrade Securities is a US discount broker that John Liu started in 1985. It is based in Flushing, New York, and its broker dealer entity is FINRA member Firstrade Securities Inc, CRD number 16843, also registered with the SEC and covered by SIPC.
Firstrade charges zero commission on US stocks, ETFs, options, and mutual funds. There is no minimum deposit to open an account. Firstrade does not offer leveraged forex or CFD products, so pip spreads and leverage ratios do not apply here the way they do at a true forex broker.
The firm currently rebates up to 250 dollars in fees when you transfer an existing account over from another broker, plus a smaller wire fee rebate. Its own site supports English, Simplified Chinese, and Traditional Chinese, fitting its long history serving Chinese American investors.
Min. Deposit
USD 0
Max Leverage
Not applicable, no leveraged forex or CFD product offered
Spreads From
Not applicable, commission free stock and ETF trades, no forex spread
Platforms
Regulators
Platforms
- FINRA (USA)
- SEC (USA)
- SIPC
