Summary: The research and education resources at Firstrade are helpful in putting you on the right track with your investments. Resources available are good but not as extensive as some industry competitors.
The education section at Firstrade includes guides to all supported types of investments as well as general education about the markets. Resources include written guides and videos.
Research tools include market news, screeners, alerts, and a streaming watchlist. You can also access analyst research and reports including reports from Morningstar.
The basics are certainly covered, but available reports are not as widespread as some larger competitors.
Trading experience
Summary: Firstrade is best for newer traders and passive investors. Active traders who want a suite of advanced features and a desktop application may want to look elsewhere.
Firstrade is a good choice for many investors. The brokerage is very strong on pricing and supports a wide variety of account types and securities.
Its technology lags behind some competitors. Some active traders and those who want a high tech experience may not be satisfied with the web trading experience. However, it should meet the needs of most new and passive investors.
FAQ
Yes, Firstrade is regulated by the SEC, FINRA, and SIPC.
- Where is Firstrade based?
Flushing, New York
- How does Firstrade make money?
Firstrade primarily makes money from interest on your uninvested cash, margin interest, and some fees for less common activity.
- How do I deposit in a Firstrade account?
You can add funds to a Firstrade account with an electronic funds transfer (ACH) or by mailing a check.
- What is the minimum deposit for Firstrade?
There is no minimum deposit.
- How do I withdraw money from Firstrade?
You can withdraw via ACH, wire transfer, or a paper check request.
- How do I open an account with Firstrade?
The easiest way to open an account is at the Firstrade website.
- Does Firstrade support MetaTrader?
No
