Firsttrade Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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It was not great. I gave this rating based only on the staff I dealt with. I think your company policies are very hard to deal with and now that I am finally done with this whole trial I will never again use or recommend your company to any of my friends. I will again say how wonderful your staff is. I pity them for having to work with such restrictions on their ability to help customers.
In 2025, Firstrade continues to position itself as a competitive player in the online brokerage space, particularly appealing to cost-conscious investors looking for zero-commission trading options. The platform shines with its commission-free trades on stocks, ETFs, and options, making it an attractive choice for both novice and experienced traders. However, it faces challenges in terms of advanced trading tools and a limited range of tradable assets.
Note: It's important to recognize that Firstrade operates under different regulatory entities depending on the region, which can affect user experience and available features. This review aims to provide a fair and accurate assessment based on multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 9 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Experience | 7 |
| Trustworthiness | 8 |
| User Experience | 7 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding the broker's offerings.
Founded in 1985, Firstrade began its journey as First Flushing Securities in Queens, New York, primarily serving the local community. Over the years, it has expanded its services to include a user-friendly online trading platform, offering access to various asset classes, including stocks, ETFs, options, and mutual funds. The brokerage is regulated by the SEC and is a member of FINRA and SIPC, ensuring a secure trading environment for its users.
Regulated Geographical Areas: Firstrade is primarily regulated in the United States, catering to both domestic and international clients from nearly 30 countries, including China, Singapore, and the UK.
Deposit/Withdrawal Currencies: The platform supports USD for deposits and withdrawals, and it offers various funding methods, including ACH transfers and wire transfers.
Minimum Deposit: Firstrade has no minimum deposit requirement, making it accessible for new investors looking to start with small amounts.
Bonuses/Promotions: The broker offers various promotions, including a welcome bonus for new accounts and rebates for transferred accounts, which can enhance the user experience.
Tradable Asset Classes: Firstrade provides a wide range of tradable assets, including stocks, ETFs, options, mutual funds, and fixed-income securities. However, it lacks offerings in forex, futures, and cryptocurrencies, which may deter some traders.
Costs (Spreads, Fees, Commissions): The cost structure at Firstrade is highly competitive, with $0 commissions on stock, ETF, and options trades, including no per-contract fees for options. However, there are fees associated with broker-assisted trades and account transfers.
Leverage: Firstrade offers margin trading with specific requirements, allowing traders to amplify their positions, but the margin rates are higher compared to industry standards.
Allowed Trading Platforms: Firstrade features a proprietary trading platform, the Firstrade Navigator, which is designed for both web and mobile use. It also includes the Options Wizard for advanced options trading.
Restricted Areas: While Firstrade accepts international clients, it does not offer services in certain countries, such as Cuba and North Korea.
Available Customer Service Languages: Firstrade offers customer support in English, Mandarin, and Cantonese, making it a suitable choice for Chinese-speaking investors.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 9 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Experience | 7 |
| Trustworthiness | 8 |
| User Experience | 7 |
Account Conditions: Firstrade excels in providing flexible account options with no minimum deposit requirements. This accessibility is a significant advantage for new investors.
Tools and Resources: While the platform offers basic tools for trading and research, it lacks some advanced features found in competing brokers, which may disappoint active traders.
Customer Service and Support: Customer service operates Monday through Friday, 8 AM to 6 PM ET. While support is generally responsive, the absence of 24/7 service can be a drawback for international clients.
Trading Experience: The trading experience is generally smooth, especially for beginners, but advanced traders may find the platform lacking in sophisticated trading tools.
Trustworthiness: Firstrade is regulated by reputable bodies, which adds to its credibility. The brokerage has a solid track record and offers SIPC protection for client accounts.
User Experience: The user interface is clean and intuitive, making it easy for users to navigate through the platform. However, some users have reported issues with the mobile app's functionality.
In conclusion, the Firstrade 2025 review highlights its strengths in offering a low-cost trading environment with robust educational resources, particularly for options trading. However, the limitations in asset classes and advanced trading tools indicate that it may not be the best fit for all investors, particularly those seeking a more comprehensive trading experience.
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