Overview
Firstrade is a US discount broker that's been around since 1985. It's aimed at self-directed investors and options traders who mostly want low costs, and it also takes a lot of international clients who want access to US markets. Firstrade Securities Inc. is registered with the SEC as a broker-dealer and is a member of FINRA and SIPC, with Apex Clearing holding client assets.
Accounts and costs
You can open an individual or joint brokerage account, a range of IRAs (Traditional, Roth, Rollover, SEP and SIMPLE), custodial accounts or an international account. None of them has a minimum or an inactivity fee. Online trades in stocks, ETFs, mutual funds and options are $0, and options have no per-contract fee either, which is where Firstrade stands out. You'll still pay small regulatory fees, $19.95 if you place a trade through a broker, and margin interest if you borrow.
Platforms and markets
Firstrade runs its own web, desktop and mobile platforms, with OptionsWizard for options analysis and research from Morningstar, Zacks, Briefing.com and OptionsPlay. There's no TradingView or MetaTrader link. You can trade US-listed stocks including OTC names, 2,200+ ETFs, over 11,000 mutual funds, options, bonds and CDs. Extended hours run 7am to 8pm ET, with an overnight session from 8pm to 4am. Everything is US-listed; there are no foreign exchanges.
Money in and out
US clients fund by free ACH from a US bank account in their own name, by wire or by check. International clients usually wire money in. ACH withdrawals are free, outgoing wires cost $25, and moving your whole account out costs $75 ($55 for a partial transfer). Accounts are covered by SIPC up to $500,000 plus excess insurance up to $37.5 million per customer.
Good
- $0 commissions on stocks, ETFs, mutual funds and options
- No per-contract fees on options, which is rare
- No account minimum and no inactivity fee
- Overnight and extended-hours trading
- Accepts international clients, with support in English, Mandarin and Cantonese
Watch for
- US markets only, no international exchanges
- No TradingView or MetaTrader connection
- Outgoing wires cost $25 and full transfers out cost $75
- Broker-assisted trades cost $19.95
- Customer feedback on support and withdrawals is weak
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Individual or joint brokerage | None | $0 commission on stocks, ETFs, mutual funds and options, with $0 options contract fees | — |
| IRA (Traditional, Roth, Rollover, SEP, SIMPLE) | None | Same $0 commissions, no account maintenance fees | — |
| International account | None | $0 commission per online trade, no account maintenance fee | — |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Investor protection: SIPC up to $500,000 (including $250,000 cash), plus excess cover through Apex Clearing up to $37.5 million per customer
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer
- Minimum deposit
- None
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
Firstrade has very few customer reviews for a broker of its age, and the ones that exist are mostly negative. It sits at 1.7 on Trustpilot from only about 50 reviews, and its BBB complaint pages carry withdrawal disputes. Reddit is more mixed: long-time and international investors like the zero fees and simple app, while others say service has slipped. With so small a sample, treat the scores as a signal of where complaints land rather than a full picture.
What traders like
No commissions. The most common praise, especially from options traders, is $0 trades and no options contract fees.
Access for non-US investors. Several Reddit and Trustpilot users outside the US say it is one of the few US brokers that will take them, and some report withdrawals arriving within a couple of days.
Simple platform. Some older investors on Reddit prefer its plain interface to the bigger brokers.
Common complaints
Withdrawals held up. Several Trustpilot, BBB and Reddit posters describe transfers out rejected or delayed for days or weeks while Firstrade asked for more ID or bank documents, including an IRA transfer stuck for over three weeks.
Hard to reach support. A recurring theme is emails and calls that go unanswered, especially once a problem starts.
Trading restrictions without notice. A Reddit thread complains that Firstrade stopped new trades in stocks under $2 and some ADRs with little warning.
Platform glitches. Some reviewers mention account values not displaying correctly and funds locked for a day as a result.
Transfer fees. Reviewers and comparison sites note the $75 full and $55 partial outgoing transfer fees.
Recently
No dated trader reviews from the last 90 days turned up in our evidence.
Where this comes from
Trustpilot: the main review page, a small pool of reviews.
BBB: complaints filed with the Better Business Bureau.
ConsumerAffairs: customer reviews.
Reddit: a thread on trading restrictions and support.
Verified reviews
Reviews from traders who've connected an account at Firstrade to Chartnaut, so you know they actually traded there. Opening soon.