Founded in 1985, Firstrade is headquartered in New York City and is an online broker with a deep discount that offers shares and options worth $0. Firstrade`s emphasis on supporting Chinese Americans is an exceptional attribute. About Firstrade SecuritiesFirstrade is a leading online brokerage that offers 100% commission-free stock, options, ETF and investment funds exchanges via its mobile app and web platform. It offers a full range of investment products and instruments to help self-guided investors take control of their financial future. Since its inception in 1985, Firstrade has been committed to providing our customers with quality and quality services. With the combination of proprietary commercial technology, a highly intuitive user interface, exceptional customer service and mobility applications, Firstrade is a complete solution to meet all your investment needs. Whether you are a new investor or an active trader, at Firstrade, we are committed to excellence and put the investor first. For the fifth year in a row, Firstrade received 4.5 out of five stars for the ease of use of the site and obtained until StockBrokers.com 2018 Online Broker Review 4.5 stars for commissions and fees. Member FINRA/SIPC since 1985. For more information, see www.firstrade.com. NEW YORK, May 29, 2019 /PRNewswire/ — Firstrade, a first-class online brokerage firm, has launched a fully redesigned trading app that allows investors to directly access a full line of investment products from their smartphones. The Firstrade app has been designed and rebuilt for new and experienced investors and virtually replicating the functionality of its investment platform, while design is fun to work with faster access to news, graphics and trading tools.
The company began in 1985 as First Flushing Securities. In 1997, the company was renamed Firstrade Securities. He launched Firstrade.com as one of the first online trading platforms. What these services do not offer is any form of account management, such as a robo advisor or a traditional full-service broker. Just a warning!! I just transferred our three IRA accounts to Firstrade, and I loved it all at first – a decent interface, commission prices, a nice option from magicians with good suggestions on trades. However, I was informed fairly quickly that the brokerage could not work with stocks that were below $0.10, I had three positions worth about $700. I was told that I could do something where they would sell them, and that I would have a penny for each position. Or I could send them back to the original accounts, have them sold, and then send them back in cash to Firstrade. Not much, and make a pain.
Then, when I tried to sell one of the “foreign” securities (5 letters that ended in “F”), I transferred 10 foreign positions in total), I was told that they could not do it to speak to a representative. Well, she said that in fact you couldn`t make foreign sales online, but you could make a phone order with a commission of $75 (and you can`t buy those foreign securities at all). There is no information on the site (she could not find any) that says that under $0.10 or foreign securities were not allowed. She said that she was going to tell her superior that I thought we had to be aware of these restrictions before we could transfer these kinds of securities into the brokerage.