Firstrade is an established FINRA regulated online broker that opened in 1985.
Owned and operated by Firstrade Securities, Inc., they are officially located at: 30-50 Whitestone Expressway, Suite A301, Flushing, New York 11354. Contact phone number is Toll Free: 800-869-8800, and Fax number is: 718-961-3919. Customer support email address is: [email protected].
Official Brokers Website: https://www.firstrade.com/.
The current promotion for new clients until May 18th 2022 is 2 Free Stocks. See details on the brokers website.
Firstrade Brokers Review
Investors at Firstrade are given access to their web based trading platform, along with mobile apps for Android & iOS. In May 2019, they launched a brand new mobile trading app. Available assets to trade include: Stocks, ETFs, Options, Fixed Income (Bonds) and thousands of Mutual Funds. Dividend Reinvestment Plans (DRIP) are available for free.
An interesting aspect of this broker is that their website is available in Taiwanese and Mandarin. Customer support is available in English, Cantonese and Mandarin.
Five account types are available: Individual Account / Joint Account, Custodial Accounts, Traditional IRA, ROTH IRA and Rollover IRA. You can fund your new trading account with ACH, Check, Wire Transfer or you can Transfer from another financial institution.
Starting in May 2022, Firstrade began offering Crypto Currency trading. They offer 37 popular Crypto coins, including of course Bitcoin, Ethereum and Dogecoin. You do not need to create a wallet to store your crypto since they are are stored as part of the services in one or more omnibus Hosted Wallets with Apex Crypto Cryptocurrencies.
Is Firstrade a Legit Broker?
Yes, Firstrade is legal broker in the United States, registered with FINRA and holding SEC license number 34632, see here. Since they are member of the Securities Investor Protection Corporation (“SIPC”), investors accounts are protected for up to $500,000.
When trading Crypto, you will be using Firstrade Crypto LLC, which offers cryptocurrency execution and custody service that is provided by Apex Crypto LLC (NMLS ID 1828849).
The best way for you to know if your Stock / Options / Crypto broker is not a scam, is by checking their regulatory status. When you see that they are regulated by FINRA, and a member of SIPC, you can be sure that they are a legitimate broker.
You have many Stock Brokers to compare between and choose from online. Make sure you always verify that the broker you are investing with is licensed and regulated!
The reason smart investors choose to use a regulated broker instead of a scam broker, is because they are interested in trading, and not worrying about a broker processing their withdrawal. With the increased popularity of Crypto Currencies like Bitcoin and Ripple, many new scams are targeting Americans, read more.