Firstrade securities review





Firsttrade.com review 2010



Firstrade review 2010: few fees but expensive to trade stocks at or under $2 and make trades with over 5,000 shares

Firstrade Commissions and Investments Offered (2010)


  • Stocks and ETFs: $6.95; for stocks at or under $2 and trades over 5,000 shares, add 1/2 cent per share for the entire order
  • Options: $6.95 plus $0.75 per contract for market and limit orders
  • Mutual funds: $9.95 no-load funds, $0 load funds
  • Bonds: net yield basis
  • CDs: $30 for primary market CDs, net yield basis for secondary market CDs
  • Investment products: stocks, options, mutual funds, bonds, CDs, ETFs
  • Minimum to open account: $0

Firstrade Trading Tools Review

Firstrade Securities review

Firstrade.com trading tools are not impressive. They are clearly behind the curve when comparing to competition.


Firstrade Account Pros/Advantages

  • $0 minimum to open account
  • 10,000 mutual funds and fixed income investments to choose from
  • No inactivity or account maintenance fees
  • No annual, setup or termination fees for IRA accounts
  • Free dividend reinvestment


Firstrade Account Cons/Disadvantages

  • Expensive commissions for stocks under $2 or orders of over 5,000
  • Customer service complains
  • Limited trading tools
  • Short Term Redemption Fee of $19.95 will be applied to redemptions of no-load fund shares held less than 180 days


Firstrade Securities Review Summary


Firstrades' $6.95 flat rate per trade for stocks and ETFs commission is not bad. However, with 0.5 cent per share surcharge for stocks under $2 or orders of over 5,000, penny stock and large-size trades are very expensive.

Firstrade has an impressive selection of mutual funds to invest in and very good commissions for buying/selling mutual funds. Customers will be charged $19.95 fee if mutual fund is held for less than 180 days.

Firstrade has no IRA setup and maintenance fees, no volume requirements and no inactivity or account maintenance fees. The firm also offers free dividend reinvestment.

Firstrade is a pretty good brokerage company but there are more attractively priced and higher rated online stock brokers to consider.


Firstrade Promotional Code: none right now


First trade review 2010


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