Firstrade Review

Updated Friday, August 2, 2013
firstrade logo
Ranking: 12 / 17   Score: 36.50
Understand our Ranking Methodology

 
Average User Rating:
3.4 Stars (254 votes)
Rate This Broker:
Web PlatformCommissions & Fees
Stock Trading:BStock Trades:$6.95
Options Trading:COption Trades:$6.95 + $0.75/cnt
Charts:COption Ex. & Ass.:$16.95 + $0.00/cnt
Research Tools:AMutual Funds:Click for Options
Advanced PlatformsMargin Rates:5.000% - 7.750%
No Advanced PlatformAcct Maintenance Fees:Click for Info
Stock Trading:n/aAcct Transfer Fees:Click for Info
Options Trading:n/aCommission Free ETFs:Yes
Charts:n/aDiscounts Available:Click for Offers
Research Tools:n/aOther Features
Mobile PlatformsDRIPs:Yes
iPhone App:CExtended Hrs. Trading:Yes
iPad App:NoWeekly Options:Yes
Android App:NoStock Order Types:Click for Info
Mobile Website:Yes (no review)Clearing Firm:Click for Info
Tax Reporting:Click for Options
Mint.com Compatible:Yes
Wikinvest Compatible:No
HelloWallet Compatible:No
SigFig Compatible:No

Company Background:

First Flushing Securities was founded by John C. Liu in 1985 in Flushing, New York. The company launched its online trading website in 1997. A year later, the company changed its name to Firstrade and moved its online trading website to Firstrade.com.

Firstrade is privately held and headquartered in Flushing, New York. Its founder, John C. Liu, is the CEO. Its clearing firm is Apex Clearing

Review Summary:

Firstrade is in a weird position where it is not as cheap as the deep discount brokers and is not as advanced technology wise as the high end brokers. This makes it hard to recommend to service for either crowd. The previously horrible website was redesigned in 2011 and is now at least respectable. The stock trading platform and research tools in particular are good. Firstrade offers an iPhone app that is a bit lacking in overall features and functionality. Commissions are low but not quite as low as the deepest of discount brokers. Commission free ETFs, extended hours trading and a dividend reinvestment plan are all nice features.

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