Firstrade promotion offers, bonuses, incentives for opening new brokerage or retirement account. Promo codes for transfer fee reimbursement.

Firstrade Promotion

$0 commissions + up to $200 in transfer fee rebates.

Open Firstrade Account


Is Firstrade Free To Use?

Is Firstrade really offers free commissions to all cuatomers? We get this question a lot. Many of our website visitors are looking for a catch. But there is no catch. Firstrade brokerage account is really free to open, use and to trade stocks, ETF's, options and mutual funds.

To open an account at Firstrade you don't need to deposit any money. You can just have it with $0 balance and use without any charges.

If you are wondering how the broker makes money, it's actually easy to answer. They offer you to borrow their money (margin borrowing) and they charge an interest on this loan. They also make money off your uninvested cash.


FirstTrade Review


Mobile App

One feature we really like on the Firstrade app is Touch ID, available on iPhones. Missing from the app is video news, market news of any kind, mutual fund trading, and mobile check deposit.

Retirement Accounts

At Firstrade customers have an availability to open a wide range IRA accounts (i.e. Roth, SIMPLE, SEP, and Rollover retirement accounts). Managing the IRA follows the same commission schedule as with standard stock trading and users can close down their IRA free of charge. Mutual funds are also available on Firstrade from Allianz, BlackRock, Fidelity, and more.

Cash Management

Firstrade offers an optional investment checking account for no charge. Here, users can invest directly from the same account they make debit or check purchases from. This account requires a minimum deposit of $25k and will charge the users 3% for all OUS transactions.

Disadvantages

Firstrade offers no customer support during on weekends or after hours which makes it difficult to address issues during these times. Managed accounts and investment advice is absent on Firstrade altogether. The absence of a desktop application is also a bummer but, as stated previously, the excellent online platform almost makes up for this.

Mutual funds offered through Firstrade are skimpy and therefore do not compete well with others. Firstrade charges for no-load products which is a large con as most others, such as TD Ameritrade, do not. Finally, when it comes to options chains, Firstrade offers very few pre-defined strategies whereas TradeStation offers strategies such as butterflies, strangles, and collars.

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Firstrade Promotion reviewed by TopRatedFirms.com. Rating: 4.5