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Firstrade Fees and Commissions Schedule, Brokerage Account Cost


2018 Firstrade fees schedule, commissions, broker stock trading cost, charges, online investing account pricing, and cash sweep rates. Firstrade hidden fees.



Firstrade Commissions


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
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*For trades where the stock price is under $1.00, there is a surcharge of 1/2 cent per share for the entire order.



Firstrade Margin Rates


Debit Balance Margin Interest Rates
above $1,000,000 5.25%
$500,000 - $999,999 6.00%
$250,000 - $499,999 7.75%
$100,000 - $249,999 8.00%
$50,000 - $99,999 8.50%
$25,000 - $49,999 9.00%
$10,000 - $24,999 9.25%
$0 - $9,999 9.50%

Firstrade's Base Rate (FBR) is 7.50%. Margin rates are subject to change without notice.



Firstrade Credit Sweep Interest


Firstrade pays interest each day your account has a free credit balance as long as interest accrued is at least $1 per month.


Cash Balance Rate
< $25,000 0.01%
$25,000+ 0.01%

Firstrade reserves the right to amend our credit interest policy from time to time in response to changes in prevailing interest rates and other factors.




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Firstrade Hidden Fees


Firstrade promises "No Hidden Fees" on its website. Nevertheless, there are a few areas where charges will be assessed. Traders should definitely be aware of the following costs.

Firstrade charges $19.95 for redemptions of mutual funds if they are held less than 3 months. Also, selling less than $500 of a mutual fund carries another $19.95 charge. The broker does make an exception if the entire value of the fund is under $500.

Secondary market CD's at Firstrade carry commissions on a net yield basis. This simply means that Firstrade adds a markup or markdown to the price of the instrument. Because it's included in the price of the certificate of deposit, it's not seen by the buyer or seller. However, primary market CD's cost $30.

Using a living, breathing agent to complete a trade over the phone costs an additional $13 at Firstrade for stocks, ETF's, and options. The broker assesses an extra $10 if the security is a no-load mutual fund.

ADR holders at Firstrade must pay a custody fee of 1¢ to 5¢ per share. This amount is deducted from any dividend the security pays. If there is no distribution from the ADR, the amount is debited from the account.

Firstrade has a bothersome IRA fee for conversions and recharacterizations. It is $25. Anytime a Traditional account is changed to a Roth, there will be a charge. A recharacterization occurs when a converted Roth is switched back to a Traditional, or if a contribution has to be moved from a Roth to a Traditional account. Closing an IRA also costs $50.

Option exercises and assignments are typically charged at the firm's regular commission. Fidelity, for example, does this. Firstrade, however, charges an additional $8 above its standard $6.95 commission.

Checks and a debit card are available at Firstrade, but they do come with fees. Check writing carries a $20 annual fee, while a debit card costs $35 per year. Other brokerage houses don't charge anything for cash management tools.



Charges That Firstrade Does Not Impose


Using a live broker to place a trade over the phone for a mutual fund with a load is exempt from the broker's usual surcharge for the broker-assisted trade.

Firstrade does not charge any accounts fees, such as inactivity, maintenance, or annual charges. Several other brokers do have such fees. WellsTrade and Vanguard have account fees, for example.



Firstrade Monthly Fee


Firstrade does not charge monthly fees.



Firstrade Other Fees


Third Party Distribution Notification $20
DTC Delivery (per security) $50
ACAT Transfer Out $75
Partial ACAT Transfer Out $55
IRA Annual Fee, IRA Account Set-up Fee, IRA Maintenance Fee FREE
IRA Roth Conversion & Recharacterization Processing Fee FREE
IRA Termination Fee FREE
Foreign Security Transfer Fee $75
Foreign Free Receives/Delivers $75
ADRs Custody Fee $0.01~0.05/share
Mailgrams / NYSE Extensions (per item) $25
Sell-Out / Buy-In Notices $25
Sell-Out / Buy-In Notices $25



Broker-Assisted Orders


Stocks/ETFs$19.95
Options$19.95 + $0.65 / contract
Load FundsNo Charge
No-Load Funds$19.95



Firstrade Review and Website Link


Read full Firstrade Review.

Firstrade incentive: $0 commissions + up to $200 in transfer fee rebates.

Firstrade fees are as of 2018 and are subject to change. For the most recent information on Firstrade fees go to their website:

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Firstrade Fees reviewed by Brokerage-Review.com. Rating: 4.5