Choosing an online stock broker is not always easy. There are many online brokerage platforms available today, and most of them offer $0 stock and ETF trade commissions. So how Firstrade securities broker make a different from another best online stock broker?
Firstrade has been serving investors since 1985 and launched Firstrade.com in 1997. Today, it offers commission-free trading on stocks, ETFs, options, and mutual funds, along with fixed-income investments and retirement accounts that makes more suitable for beginner investor.
One feature that gets particular attention is its $0 options commission and $0 options contract fee. Firstrade also has no account minimum and no inactivity fee for its standard brokerage accounts. So even you don’t have a single penny in the Firstrade securities then still you can access and use it well.
But low fees alone do not make a online broker right for everyone. Let’s look at Firstrade in detail.
In this Firstrade review 2026, we take a closer look at Firstrade’s fees, investment options, trading platform, options trading, mutual funds, account types, safety features, customer support, and international accounts.
Firstrade at a Glance
Firstrade Review: Quick Overview
| Feature | Firstrade |
|---|---|
| Founded | 1985 |
| Online platform launched | 1997 |
| Stock commissions | $0 |
| ETF commissions | $0 |
| Options commission | $0 |
| Options contract fee | $0 |
| Mutual fund commissions | $0 for online trades |
| Account minimum | $0 |
| Inactivity fee | $0 |
| IRA annual fee | $0 |
| Investment choices | Stocks, ETFs, options, mutual funds, bonds, CDs |
| Mutual funds | 11,000+ |
| Mobile app | iOS and Android |
| Extended-hours trading | Available |
| Overnight trading | Available |
| SIPC member | Yes |
| FINRA member | Yes |
| International accounts | Available in eligible countries |
| Best known for | Low-cost investing and options trading |
Firstrade states that it offers stocks, ETFs, options, mutual funds and fixed-income products, with no minimum deposit and no inactivity fee.
What Is Firstrade?
Firstrade is an online stock brokerage platform that allows investors to buy and sell different types of investments through its website and mobile applications.
The company was originally founded in 1985 as First Flushing Securities. In 1997, it launched Firstrade.com as an online broker platform.
Today, Firstrade offers several major investment products, including:
- Stocks
- ETFs
- Options
- Mutual funds
- Treasury securities
- Corporate bonds
- Municipal bonds
- CDs
- Traditional IRAs
- Roth IRAs
- Rollover IRAs
The company is also a member of FINRA and SIPC.
Firstrade is mainly designed for self-directed investors. In other words, you decide what to buy and sell rather than having a portfolio manager make those decisions for you.
Is Firstrade Legit?
Yes. Firstrade Securities Inc. is an established U.S. brokerage trading platform that has been operating since 1985. Firstrade identifies itself as a FINRA/SIPC member, and FINRA’s BrokerCheck database lists Firstrade Securities Inc. under CRD #16843.
Firstrade also uses Apex Clearing Corporation as its clearing firm. That does not mean investments are guaranteed to make money. Like any online brokerage account, investments held through Firstrade can lose value.
The important point is that Firstrade is not a newly created online trading platforms. It has a long operating history and is subject to the regulatory framework applicable to U.S. broker-dealers.
Is Firstrade Safe?
Firstrade provides several layers of account protection. So you don’t worry about so much.
According to Firstrade, customer securities online brokerage accounts are protected by SIPC up to $500,000, including up to $250,000 for cash. Firstrade also says its clearing firm, Apex Clearing, has additional insurance that can provide coverage beyond SIPC limits, subject to the policy’s terms and limits.
Firstrade also says its accounts use security measures including encryption, firewalls and two-factor authentication However, there is an important difference between account protection and investment protection.
SIPC protection does not protect you from normal market losses.
For example, if you purchase a stock for $10,000 and its market value falls to $7,000, SIPC does not make up the $3,000 difference.
Firstrade Fees and Commissions
One of Firstrade’s biggest attractions is its simple pricing structure that attract to beginners investor.
Firstrade’s main online trading fees
| Investment | Online Trading Cost |
|---|---|
| Stocks | $0 |
| ETFs | $0 |
| Options | $0 |
| Options contract fee | $0 |
| Mutual funds | $0 |
| Account minimum | $0 |
| Inactivity fee | $0 |
| IRA annual fee | $0 |
Firstrade currently advertises $0 commissions on stocks, ETFs, options and mutual funds, along with $0 options contract fees. There are still other fees that investors should understand.
For example, Firstrade lists a $25 outgoing domestic or foreign wire transfer fee, a $75 full ACAT transfer-out fee, and a $55 partial ACAT transfer-out fee.
Broker-assisted orders can also carry fees. So don’t assume that every possible transaction is free simply because online stock trading is $0.
Firstrade Options Trading
Options trading is one of Firstrade’s most notable features.
Firstrade advertises: $0 free commission trade + $0 option contract fee. It also states that it does not charge exchange, exercise or assignment fees for options trades.
For example, if you place an options trade involving 10 contracts, Firstrade’s advertised commission and contract fee are both $0. This can make a significant difference for investors who trade options frequently However, options trading are much more complicated than buying regular stocks or ETFs.
In options trading, you can lose your money quickly and can involve substantial risk. Investors should understand the strategy they are using before trading them.
Firstrade Options Builder
Firstrade has also added tools aimed at helping options traders understand potential strategies.
In November 2025, Firstrade announced Options Builder, which includes a Strategy Lab designed to help investors explore strategies and visualize potential outcomes and risk/reward trade-offs. This is useful because options can become complicated very quickly.
Instead of looking only at an option chain, investors can use analytical tools to better understand how different strategies may behave. Still, an analytical tool does not remove the risk of options trading.
What Can You Invest In With Firstrade?
Firstrade offers a broad selection of investment products to invest. Here are the list of investment products that you can trade.
1. Stocks
You can trade stocks listed on major U.S. exchanges, including NYSE and Nasdaq, as well as eligible OTC securities.
Online stock trades are commission-free. This makes Firstrade suitable for investors who primarily want to build a portfolio of individual companies.
2. ETFs
Firstrade offers access to a large selection of exchange traded funds. The company currently advertises more than 2,200 ETFs available through its platform. ETFs can be useful for investors who want diversification without buying dozens or hundreds of individual stocks.
3. Mutual Funds
Mutual funds are another area where Firstrade stands out. The company says investors can choose from more than 11,000 mutual funds. Firstrade also advertises $0 online mutual fund trading.
However, investors still need to pay attention to the fund’s own expenses, loads or other costs. A $0 brokerage commission does not mean the underlying mutual fund has zero expenses.
4. Bonds and Fixed Income
Firstrade also offers fixed-income investments.
These include:
- Treasury bills
- Treasury notes
- Treasury bonds
- Municipal bonds
- Corporate bonds
- Agency bonds
- CDs
Some fixed-income products are priced on a net-yield basis, meaning Firstrade may act as principal and the security can include a markup or markdown.
Firstrade Fractional Shares
Fractional investing can be useful when an investor wants to buy part of a share rather than an entire share. Firstrade highlights fractional shares among its investing features, allowing investors to start investing with smaller amounts in eligible securities.
This can be particularly useful for investors who want to invest regularly without waiting until they have enough money to purchase a full share. Availability can vary by security, so investors should check Firstrade’s current fractional-share rules before placing an order.
Firstrade Trading Platform
Firstrade offers both web-based and mobile trading. The company launched its updated Invest 3.0 web experience in 2025, expanding its trading and portfolio-management capabilities.
The platform provides access to:
- Watchlists
- Stock research
- Market news
- Stock screeners
- Options chains
- Portfolio tracking
- Trading
- Account funding
- Order management
Firstrade also offers research from providers including Morningstar, Briefing.com, Zacks and Benzinga.
Firstrade Mobile App
Firstrade has mobile applications for both iOS and Android.
The mobile app allows users to:
- Check account balances
- Monitor positions
- Create watchlists
- Research stocks
- Place stock orders
- Place options orders
- Fund accounts
- Manage positions
Firstrade says the mobile app also includes features such as Face ID and fingerprint authentication on supported devices. For investors who prefer managing their portfolio from a phone, this can be convenient.
Extended-Hours and Overnight Trading
Firstrade offers trading outside regular market hours.
Its brokerage page currently lists extended-hours trading from 7 a.m. to 8 p.m. ET Monday through Friday, along with overnight sessions from 8 p.m. to 4 a.m. ET Sunday through Friday.
Extended-hours and overnight trading can provide more flexibility around earnings announcements and major market news But trading outside regular hours can also involve lower liquidity and wider bid-ask spreads.
Investors should understand those risks before using extended-hours sessions.
Firstrade Retirement Accounts
Firstrade offers several retirement account options.
These include:
- Traditional IRA
- Roth IRA
- Rollover IRA
Firstrade currently advertises $0 IRA setup, annual and maintenance fees. This can be useful for investors who want to manage retirement investments alongside a regular brokerage account.
Firstrade International Accounts
Firstrade is not limited to U.S. residents.
The company offers international brokerage accounts to eligible investors in certain countries and regions. Firstrade says international users can access stocks, options, ETFs, mutual funds, bonds and CDs.
The company also says international customers can access customer service in:
- English
- Mandarin
- Cantonese
and its platform is available in English, Traditional Chinese and Simplified Chinese However, international availability depends on the investor’s country and applicable laws.
Firstrade specifically warns that international users are responsible for complying with the laws and tax rules that apply to them. If you live outside the United States, check eligibility directly with Firstrade before planning to open an account.
Firstrade Margin Trading
Firstrade also offers margin accounts. Margin allows investors to borrow money against eligible securities in their brokerage account.
This can increase buying power, but it also increases risk. Firstrade’s published margin schedule currently shows rates ranging from 8.00% to 12.00%, depending on the amount borrowed, with rates subject to change.
For example, Firstrade currently lists a 12.00% effective rate for balances below $25,000 and an 8.00% rate for balances above $1 million. Margin rates can change, so investors should check the current rate before borrowing.
Firstrade Dividend Reinvestment
Firstrade offers a dividend reinvestment program, commonly called DRIP. Instead of receiving dividends as cash, investors can choose to reinvest eligible dividends. Firstrade lists its dividend reinvestment program as free.
For long-term investors, automatically reinvesting dividends can make portfolio management easier.
Firstrade Securities Lending
Firstrade also has a Securities Lending Income Program.
Under this program, eligible fully paid shares may be lent out, and customers can receive income from the lending arrangement. Firstrade says income accrues daily and is credited monthly.
Investors should read the program terms carefully before participating because securities lending has its own risks and conditions.
Firstrade Research Tools
Research is an important part of choosing an online broker.
Firstrade provides access to research and market information from several providers, including:
- Morningstar
- Zacks
- Benzinga
- Briefing.com
- PR Newswire
It also provides screeners, watchlists, market news and stock research tools. For a self-directed investor, having these tools in one account can reduce the need to use several different websites.
Firstrade Customer Service
Firstrade provides customer support through phone and email. Its international platform specifically advertises customer service in English, Mandarin and Cantonese.
Firstrade lists U.S. customer service hours as Monday through Friday, 8 a.m. to 6 p.m. Eastern Time on its margin page.
Customer support availability can be particularly important for international investors who may have questions about account documents, transfers or tax forms.
Firstrade Pros and Cons
Firstrade Can Be Best For?
Firstrade may be worth researching if you are:
- A long-term stock investor
- If you primarily buy stocks and ETFs and hold them for years, the $0 online trading commission and lack of account minimum can be useful.
- An options trader
- The $0 options commission and $0 contract fee are particularly notable.
- A mutual fund investor
- Investors looking for a large mutual fund selection may find Firstrade interesting because it offers access to more than 11,000 mutual funds.
- An international investor
- Eligible investors outside the United States can apply for international accounts.
- A self-directed investor
- Firstrade is designed around investors who want to make their own investment decisions.
Who Should Not Choose Firstrade?
Firstrade may not be the right type of platform if you are looking for:
- A fully managed investment portfolio
- A human financial advisor managing your investments
- Automated investment management
- A broker focused primarily on professional institutional trading
- A platform where every possible service is free
The right broker depends on what you actually need.
Firstrade vs Fidelity
Firstrade and Fidelity both offer commission-free online stock and ETF trading.
One major difference is options pricing.
Firstrade advertises $0 options contract fees, while its comparison page lists Fidelity at $0 commission plus $0.65 per contract. Fidelity, however, offers a broader ecosystem of financial services.
The better comparison depends on whether you prioritize options pricing, mutual funds, retirement services, research, banking features or other services.
Firstrade vs Charles Schwab
Both brokers offer $0 online stock and ETF commissions.
Firstrade’s options pricing is one of its notable differences, with $0 contract fees advertised by Firstrade. Its own January 2026 comparison lists Charles Schwab at $0.65 per options contract.
Charles Schwab may appeal to investors looking for a larger full-service financial ecosystem, while Firstrade focuses heavily on low-cost self-directed investing.
Firstrade vs E*TRADE
Firstrade and E*TRADE both offer $0 online stock and ETF commissions.
Firstrade’s current comparison lists E*TRADE at $0.65 per options contract, compared with Firstrade’s $0 contract fee.
Again, pricing is only one part of the decision. Investors should also compare platforms, research, customer support, investment choices and account features.
How to Open a Firstrade Account
Opening an account starts on Firstrade’s official website.
For eligible international customers, Firstrade currently advertises a two-step online account-opening process.
Generally, you should be prepared to provide information such as:
- Your personal information
- Identification documents
- Tax information
- Employment information
- Financial information
- Investment experience
The exact requirements can depend on the account type and whether you are a U.S. or international customer.
Does Firstrade Have a Minimum Deposit?
For standard brokerage accounts, Firstrade currently advertises no minimum deposit. This means you don’t need to deposit a large amount of money just to open the account.
That can be useful for beginners who want to start investing with a smaller amount.
Is Firstrade Good for Beginners?
Firstrade can be considered by beginners who want a self-directed brokerage account with no account minimum and $0 online commissions.
The platform also provides educational resources and research tools However, beginners should remember that Firstrade does not remove the risks of investing.
A new investor may want to start with diversified investments and learn how different asset classes work before moving into more complex products such as options or margin.
Is Firstrade Good for Long-Term Investing?
Firstrade can be useful for long-term investors who want to build their own portfolio.
The platform provides:
- Stocks
- ETFs
- Mutual funds
- Bonds
- Retirement accounts
- Dividend reinvestment
- Fractional investing features
- Research tools
The absence of an account minimum and online trading commissions can also make regular investing easier.
Still, long-term performance depends on the investments selected, not simply on the brokerage platform.
Is Firstrade Good for Options Trading?
Firstrade’s pricing is particularly notable for options traders.
It currently advertises: $0 Free commission trade and $0 option contract fee.
and no exchange, exercise or assignment fees for options trades. Firstrade has also introduced options-focused tools such as Options Builder But options can involve significant losses, particularly when leverage is involved.
A low trading fee should never be the only reason to trade options.
Firstrade Review: Our Methodology
For this Firstrade review, we looked at the areas that matter most when evaluating an online brokerage:
- Trading fees
- Account minimums
- Investment selection
- Options pricing
- Mutual funds
- Retirement accounts
- Trading platforms
- Mobile app
- Research tools
- International availability
- Account protection
- Customer support
- Margin rates
- Additional account fees
We also checked Firstrade’s current official pricing, account, international, platform and security information rather than relying only on older reviews.
Brokerage fees and features can change, so investors should verify the current terms before opening an account.
Final Thoughts: Firstrade Review 2026
Firstrade has been around for decades, but it continues to compete in the modern online brokerage market by focusing heavily on low-cost investing.
Its biggest attractions include $0 online stock and ETF commissions, $0 options commissions, $0 options contract fees, no account minimum, no inactivity fee, a large mutual fund selection, retirement accounts and international account availability for eligible investors.
The platform also offers research tools, mobile trading, extended-hours trading and newer options tools. At the same time, investors should look beyond the $0 headline.
Margin borrowing has interest costs, certain account services have fees, and investments themselves can lose money. Firstrade is primarily designed for self-directed investors rather than people looking for a fully managed portfolio.
Overall, Firstrade is an online brokerage worth researching if your priorities include low trading costs, options pricing, mutual funds, self-directed investing and international account access where available.
Before opening an account, compare Firstrade with other brokers based on the investments and services you actually plan to use.
Firstrade Review FAQs
Is Firstrade legitimate?
Yes. Firstrade Securities Inc. is an established brokerage founded in 1985 and identifies itself as a FINRA/SIPC member.
Is Firstrade safe?
Firstrade is a SIPC member, with SIPC protection of up to $500,000 per customer, including up to $250,000 for cash, subject to SIPC rules. Firstrade also states that additional insurance is available through its clearing firm.
Does Firstrade charge commissions?
Firstrade currently advertises $0 online commissions for stocks, ETFs, options and mutual funds.
Does Firstrade charge an options contract fee?
Firstrade currently advertises $0 options contract fees.
Does Firstrade have a minimum deposit?
Firstrade currently advertises no minimum deposit for its standard brokerage account.
Does Firstrade offer international accounts?
Yes. Firstrade accepts applications from eligible international investors in certain countries and regions. Availability depends on location and applicable laws.
Does Firstrade offer IRAs?
Yes. Firstrade offers Traditional, Roth and Rollover IRAs and currently lists $0 IRA setup, annual and maintenance fees.
Does Firstrade offer fractional shares?
Yes, Firstrade offers fractional-share investing for eligible securities. Availability can vary.
Can you trade options on Firstrade?
Yes. Firstrade offers options trading and currently advertises $0 commission and $0 contract fees.
Does Firstrade have a mobile app?
Yes. Firstrade offers mobile applications for iOS and Android.
Does Firstrade offer margin trading?
Yes. Firstrade offers margin accounts, with interest rates depending on the amount borrowed. Its published rates are subject to change.
Dipendra Sah is the founder of Legends Investor and he is passionate about financial education and long term investing. He shares practical guides, market insights, and investment resources designed to help readers become more informed and confident investors.
