Top $0 commission investment account. Best online brokerage company for FREE stocks, ETFs, and mutual funds trading.

Commissions and Investments

InvestmentsCommissions
Stocks and ETFs $0
Stocks, ETFs, and mutual funds broker assisted $19.95
Options $0
Mutual funds $0
Treasury Bills, Notes, Municipal and Agency Bonds, Zeros & Strips net yield basis
CDs $30 for primary market CDs, net yield basis for secondary market CDs

Firstrade Overview

Firstrade is the cheapest brokerage firm offering a wide range of investment services. With rock bottom (free) stocks and ETFs pricing, and $0 mutual funds commissions, Firstrade offers impossible to beat value for many investors.

Firstrade Pricing, Fees, and Account Minimums

Catering to investors on a budget, Firstrade’s brokerage account has no minimum opening deposit, no monthly fees, and no minimum balance requirement. Customers have access to more than 8,000 mutual funds, along with the ability to trade stocks, options, ETF’s, fixed-income securities, and CD’s. Unlike TD Ameritrade and TradeStation, Firstrade has no futures or forex offerings.

The price for trading stocks and ETF’s is $0, placing the broker in the lowest-range cost category. Options are an extra $0 per contract. Another category where the company stands out is in mutual funds pricing - these are also free to trade. Most of the other $0-commission brokers (M1 Finance, Robinhood, WeBull) don't offer investing in mutual funds at all.

Bonds are sold on a net yield basis, which means that Firstrade is compensated through a markup or markdown.

Margin debits under $10,000 currently cost 9.75%.

Firstrade Promotion

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

Trading Tools

Although Firstrade does offer trading with a live broker, the cheapest option is trading on-line. The web site is well-designed and easy to navigate. A convenient trade ticket at the bottom of the web browser makes trading simple and easy. The lack of a more sophisticated trading platform is a disappointment, but something to be expected when costs are so low - no other $0-commission broker offers it.


Firstrade


Firstrade IRA Fees

Firstrade offers IRA’s that carry no annual fee, no setup fee, no inactivity fee, and have no initial deposit or on-going balance requirement. There is, however, a $50 termination fee, and converting an IRA from one type to another carries a $25 charge.

The Good

With free trades and no account fees, Firstrade is an incredible value compared to most other brokers such as Vanguard or E*Trade.

Unlike its main competitors, the broker offers mutual funds and bonds investing.

Firstrade has the best trading tools and website among free brokerage firms.

The Bad

Firstrade lacks sophisticated trading platform that some more expensive rivals now offer.

Unlike Charles Schwab or TD Ameritrade, Firstrade has no nationwide brick-and-mortar branches, which some investors might prefer for extra investment guidance.

Best Free Broker Recap

Firstrade offers excellent brokerage services to customers who need the cheapest pricing. We rated them "The Best $0 Commission Broker" in 2019 and 2018.

Firstrade Promotion

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

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Best Free Broker reviewed by TopRatedFirms.com on . Rating: 5