Firstrade

Accounts for Non-U.S. Residents at TD Ameritrade, Scottrade, Etrade, Fidelity, Vanguard, Charles Schwab, and Ally Invest.



U.S. Brokers For Non-U.S. Residents


Because of laws and regulations introduced in the recent years it became increasingly difficult for U.S. brokerage firms to maintain international investors who are non-U.S. citizens or residents. Because of that Etrade, Fidelity, Vanguard, Charles Schwab, Scottrade, TD Ameritrade and other brokerage companies dropped international investors who were already their clients and they don't accept new account applications from non-U.S. residents.

Fortunately, there is a U.S. brokerage firm that welcomes international investors - Firstrade. If you are a citizen of one of the following countries - Australia, Belgium, China, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, South Korea, Mexico, New Zealand, Poland, Singapore, Spain, Taiwan, United Kingdom (Great Britain) - then click here and continue reading Firstrade Review below.

Citizens of all other countries learn about ZacksTrade »


Firstrade Overview


Firstrade is one of the very few U.S. brokerage firms that offer accounts to non-U.S. citizens. They recently lowered their pricing and now provide the lowest flat-rate commissions on stock and ETF trading - $0 per trade. This makes them the top broker for international investors looking for an American brokerage firm.


Firstrade Pricing


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

Investments stocks, options, mutual funds, bonds, CDs, ETFs
Firstrade minimum deposit to open account $0
FeesFirstrade fees
Promotion linkFirstrade promotions


Firstrade Advantages


  • FREE stocks, mutual funds, and ETF trading commissions
  • $0 minimum to open an account
  • 11,000 mutual funds and fixed income investments to choose from
  • No account maintenance or inactivity fees
  • No annual or setup fees for IRA accounts
  • Free dividend reinvestment plan (DRIP)
  • Easy to use, clean website


Mutual and Exchange-traded Funds


Firstrade gives it clients 700 ETF’s from iShares, Vanguard, and PowerShares that are commission-free. Traders are required to purchase at least 10 shares, and the shares must be held a minimum of one month.

The broker has more than 8,000 mutual funds for its clients, some of which come with no transaction fee. Load funds always have no transaction fee. No-load funds that do have a transaction fee are also $0 to trade.

A $19.95 fee is applied to redemptions of fund shares that are held less than 3 months. Furthermore, fund redemptions under $500 are charged a $19.95 fee, unless the entire value of the fund is under $500.


Research and Education Tools


Firstrade pulls data from Morningstar, and offers Morningstar reports for some securities. There are no other third-party reports available besides Morningstar publications.

Firstrade does have some decent educational resources. The broker offers its clients several important learning tools on a page of their website called Education Center. Here investors will find videos and articles on a variety of securities topics, such as ETF basics and how to use a stop loss order. The broker also provides market news from Zacks and Benzinga.

The brokerage firm provides its customers with some useful tools on retirement and education planning. On the web site, clients can find important information on education savings accounts and IRA's.


Promotions


Customers who deposit at least $0.01 will receive $100 in commission credits. A deposit of $500 will qualify for $500 worth of commission-free trading, while making a deposit of $5,000 is good for $1,000 in commission credits. The promotion link is $0 commissions + up to $200 in transfer fee rebates.


Customer Service


Firstrade representative can be reached by phone, fax, an on-line chat system, e-mail, or snail mail. Regrettably, chat and phone service are only available during the weekday.


Website and Trading Tools


Firstrade’s web site is user friendly and easy to navigate. Traders can place orders for a variety of securities using the standard web browser. At the bottom of the browser is a handy trade ticket called the Quick Bar where users can swiftly trade stocks, ETF's, and options. The Quick Bar displays vital information, such as the day's volume and the last trade price. Option chain information is also available using the Quick Bar.

Firstrade has a proprietary streaming quote service called X-Stream, although most buttons simply take the user back to the web site.


International brokerage account


Mobile Platform


Firstrade offers mobile apps for Android and Apple. The interface is intuitive and simple to use. Traders can call customer service, place a stock or option order, and look over position and account data.


Best online broker for international clients


Firstrade Summary


Firstrade delivers reliable securities trading at low cost that international investors will find attractive. Stock and option traders will do especially well here.


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All Other Countries Residents


If you are an international investor from one of these countries - Argentina, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Brazil, Brunei Darussalam, Bulgaria, Canada, Cayman Islands, Chile, Colombia, Comoros, Costa Rica, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Dominican Republic, Estonia, Finland, Greece, Hungary, Iceland, India, Indonesia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Monaco, Mongolia, Netherlands, New Zealand, Norway, Oman, Pakistan, Palau, Panama, Paraguay, Peru, Philippines, Portugal, Puerto Rico, Qatar, Romania, Russian Federation, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Thailand, Turkey, Ukraine, United Arab Emirates, Vietnam - then go to ZacksTrade ».