Deposit Cash Into Firstrade
Highlights:
• You can fund a Firstrade brokerage account in different ways.
• You can deposit cash using a paper check, wire transfer, or ACH transfer.
• You can also move securities into your Firstrade account using ACATS or DTC.
If you have a self-directed Firstrade account and want to add funds, there are a few options. Some are faster than others, so check the details below.
Getting Ready
Log into the Firstrade website (not the mobile app) and place your mouse over the Service tab at the top. In the drop-down menu, click on “Fund Your Account.”
The next page has details on how to deposit money. There’s a short video if you want to watch instead of read. The page also explains how to link your bank account, which is needed for some deposit types. There is other information there, so look it over if you plan to use a certain method later.
Submitting a Deposit Request
To send a deposit request online, hover over the Accounts tab in the menu and pick “Deposit/Transfer.” This will open the online form where you complete your deposit (except for the DTC option explained later).
Firstrade Promotion
Visit Firstrade Website
Deposit Cash into Firstrade by ACH
The first method is Automated Clearing House (ACH). If you have a U.S. checking or savings account, you can transfer money to your Firstrade brokerage account. Just choose “Electronic Funds (ACH)” on the form and enter the details, including the amount. Submit the deposit after you check it.
If your bank account isn’t linked yet, you can do it from the transfer form. Look for the blue “Bank Profile Setting” link. Only custodial, joint, and individual accounts can set this up online. Other account types need to use the paper form.
Some accounts can’t use ACH deposits. These are Coverdell Education Savings Accounts, SEP and SIMPLE IRAs, and investment club accounts.
ACH is the most common deposit method, but there is one downside: you must wait five business days before you can use the money to trade.
Deposit Cash by Wire
Money sent by wire can be used as soon as Firstrade gets it. Usually, Firstrade receives wires on the same day, so this is a good option if you need funds quickly. On the same transfer page, pick the wire option to see the wire instructions you’ll need to give your bank. You can also download them as a PDF.
Paper Check
If you want to deposit with a paper check, Firstrade lets you mail in checks. The mobile app doesn’t have mobile check deposit. Write the check to Firstrade Securities and include your account number (and IRA contribution year, if needed) on the memo line. You can’t use third-party checks, money orders, checks older than three months, double-endorsed checks, or checks from foreign banks.
Money added by check is available for trading five business days after the deposit.
ACATS
You can also move securities into your Firstrade brokerage account. One way is the Automated Customer Account Transfer Service (ACATS), which moves cash and securities. Start by going to the transfer page on Firstrade’s site. Look for the Account Transfer tab. Clicking it gives you steps for an online ACATS request, which might take up to two weeks.
The Firstrade mobile app also has an ACATS form. Tap the Account icon in the lower right, then choose “Transfer to Firstrade” and follow the steps.
To finish an ACATS, you need the account number from your old firm. Both brokerage and managed accounts can be transferred to Firstrade. But Firstrade does not accept some assets, such as over-the-counter (OTC) stocks.
Fees
Firstrade does not charge fees for deposits. But the bank or company sending the money might charge a fee. For example, sending DTC, ACATS, or wire transfers often has costs. Firstrade may cover these fees in some cases.
Firstrade Review
Read detailed review of Firstrade account »
Updated on 10/13/2025.
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 25 years, and has a background in both applied math and programming.
|