Overview
Firstrade Securities Inc. is a US-based online discount brokerage founded in 1985 by John Liu. Headquartered in Flushing, New York, Firstrade has served self-directed investors for nearly four decades, offering commission-free trading across stocks, ETFs, options, and mutual funds. The company is one of the first brokers to offer completely free options trading with no per-contract fees.
Firstrade is regulated by the SEC and FINRA and is a member of SIPC. The brokerage is known for its simplicity, multilingual support (English, Chinese, Mandarin), and appeal to international investors, particularly those from Asian markets who want to invest in US securities.
Firstrade differentiates itself with zero commissions across all product types, a straightforward user interface, and no account minimums. While it lacks the advanced charting tools of larger competitors, it serves as an accessible entry point for investors seeking low-cost US market access.
Key Features
- Commission-free everything: $0 for stocks, ETFs, options (no per-contract fee), and mutual funds
- No account minimum: Open and maintain an account with $0
- Options trading: Free multi-leg options with no per-contract fees
- Multilingual support: English and Chinese interface and customer service
- Over 11,000 mutual funds: No-transaction-fee mutual fund selection
- Retirement accounts: IRA, Roth IRA, SEP IRA, rollover IRA
- International accounts: Available for non-US residents in select countries
- DRIP: Automatic dividend reinvestment program
Supported Markets
| Market Type | Details | |-------------|---------| | Stocks | US stocks on NYSE, NASDAQ, AMEX | | ETFs | Commission-free ETF trading | | Options | US equity options, free multi-leg | | Mutual Funds | 11,000+ funds, many NTF | | Bonds | US Treasury and corporate bonds |
Fee Structure
| Type | Fee | |------|-----| | US Stocks & ETFs | $0 | | Options | $0 (no per-contract fee) | | Mutual Funds (NTF) | $0 | | Mutual Funds (transaction) | $0 | | Account minimum | $0 | | Wire transfer (outgoing) | $25 | | Account transfer (outgoing) | $75 |
Platforms & Interfaces
- Firstrade Web: Browser-based trading and account management
- Firstrade Mobile: iOS and Android apps
- Firstrade Navigator: Options chain and analysis tool
- Real-time quotes: Free Level 1 streaming quotes
Regulation
- SEC / FINRA (United States)
- SIPC member — up to $500,000 protection
- Apex Clearing serves as clearing firm
Getting Started
- Open an account at firstrade.com — individual, joint, IRA, or international
- Complete identity verification with SSN or international ID
- Fund via ACH, wire transfer, or account transfer ($0 minimum)
- Start trading stocks, ETFs, or options commission-free