Firstrade Account Types

Firstrade offers a variety of account types to cater to different investment needs. The available accounts include:

• Regular Investing Account: A standard brokerage account for buying and selling securities.
• IRA Retirement Accounts: This includes Traditional IRA, Roth IRA, SEP IRA, and SIMPLE IRA, which offer tax advantages for retirement savings.
• International Accounts: Designed for non-U.S. residents to trade on U.S. markets.
• ESA Education Planning Account: Specifically for saving for educational expenses.
• Custodial Accounts: Accounts managed by an adult on behalf of a minor until they reach legal age.
• Firstrade Cash Management Account: A cash management solution that provides features like check-writing and debit card access.

All Firstrade accounts have no minimum deposit requirement, allowing investors to start trading without a significant initial investment.

Firstrade Broker Account Opening Process

Opening an account with Firstrade is straightforward and can be completed in a few easy steps:

• Visit the Firstrade Website: Navigate to the homepage and click on the "Open an Account" button.
• Complete the Registration Form: Fill out the online application with your personal information, including contact details and financial background.
• Provide Country of Residence: If applicable, indicate your country of citizenship and residency.
• Upload Identification: Submit a copy of your passport or other identification documents.
• Identity Verification: Provide personal information such as your name, date of birth, and address for verification purposes.
• Additional Information: Share details about your annual income, net worth, and trading experience.
• Set Up User ID: Create a username and password for your account.
• E-Signature and Agreement: Provide an electronic signature and agree to the terms and conditions to finalize your application.

Once your information is verified, you will receive a confirmation email, and you can start trading immediately. Firstrade does not offer a demo account, so new traders should be aware of this before opening a live account.