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ONLINE INTERNATIONAL BROKER AND $0 ACCOUNT MINIMUM

HOW TO OPEN A FIRSTRADE ACCOUNT AND HOW TO BUY STOCKS ON THE INTERNATIONAL MARKET

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FIRSTRADE REVIEW 2021: PROS, CONS, FEES & ALTERNATIVES

Firstrade was founded in 1985. After achieving steady growth in the field, the company decided to enter the internet world because of the great opportunity of servicing a broader audience. Firstrade.com was launched in 1997 joining only a few online stockbrokers on the web. Firstrade is a true pioneer in the industry. 

 

Firstrade is a leading online brokerage firm that provides online and mobile trading of Stocks/ETFs, Options, Mutual Funds, Fixed Income products, and more. The company offers $0 stocks and options trades and is best known for its easy-to-use website, alongside its Chinese language services.

 

Firstrade offers Morningstar research and a variety of tools to help investors succeed in the market. Firstrade is a member of FINRA/SIPC and is known for giving excellent customer services to its clients. Overall, this platform is for investors looking for a low cost, well-balanced, and all-around easy-to-use online broker. Also, great for Chinese-speaking investors. 



EDUCATION AND RESEARCH

Firstrade users have access to a free educational center that provides fundamental material on stocks, options, ETFs, Mutual Funds, and Fixed Income. The broker also provides educational videos, Archived Webinars, and biweekly educational seminars to help options Newbies.

 

Clients also have access to free research from Morningstar, Benzinga, Zacks, and Briefing.com. These platforms offer news and reports for market trends from great reliable sources. As an Investor or trader, you can customize your charts, and charting is available on the browser and mobile app. With the trade tool options, you can analyze spreads to real-time data. 

 

IS FIRSTRADE GLOBAL

Yes. If you are not a U.S. citizen or permanent resident you can sign up with Firstrade and open an international investment account. They support major countries such as China, United Kingdom, Germany, Italy, Belgium, France, Japan, India, and much more. You can go here and open an account if your country is on the list of supported regions.   



FIRSTRADE FEES

Firstrade is one of the best brokers that don’t charge an account maintenance fee and have no minimum deposit. The company offers a $0 commission on stock, ETF, mutual fund, and options trades. This makes Firstrade competitive amongst low-cost online brokers and a great choice for beginners. Firstrade does charge a fee for deposit and withdrawal.    


FIRSTRADE SECURITY

At Firstrade your account information is protected by encrypted technology, and its servers are enabled with Secure Sockets Layer (SSL) technology to prevent unauthorized parties from viewing and accessing your personal data. Firstrade also provides its users with authentication (PIN) as a layer of security and safety for account access.


Firstrade guaranteed to cover its online users 100% of any losses if an unauthorized activity is conducted on their account. This, however, though is subjected to terms and conditions. Firstrade has laid out many precautions for users to minimize the risk of fraudulent activities and for users to remain eligible for this guaranteed coverage.


FIRSTRADE MOBILE APP

Firstrade’s mobile app is one of the most unique additions to the platform. Available for both iOS and Android devices in English, Mandarin, and Cantonese. The App is user-friendly with great search functions, and you can only trade stocks, ETFs, and options on the app. Mutual funds and bonds are available on the web trading platform. 

 


HOW DOES FIRSTRADE COMPARES TO ALTERNATIVE ONLINE BROKERS

Account minimum is $0 and 0% fees. 

Investment options 

Stocks, ETFs, options, mutual funds, treasury bills, notes, bonds, IRA, IPOs and CDs

Account minimum is $0 ($25,000 or $250,000 for managed accounts) and 0% (0.65% to 0.90% for managed accounts) fees. 

Investment options 

Stocks, ETFs, options, mutual funds, cryptocurrency, futures, forex, bonds, IRA, and IPOs.

Account minimum is $0 and 0%  fees. 

Investment options 

Stocks, ETFs, options, mutual funds, cryptocurrency, futures, forex, bonds, and IPOs.





FIRSTRADE PROs & CONs

Now let us look at the Pros & Cons of Firstrade. 

Pros 

  • $0 Commission on all trades;
  • Chinese language options;
  • User friendly platform for beginners;
  • Free access to Morningstar trading reports and other news in both English and Chinese; and 
  • Secure mobile app with great trading features

 

Cons 

  • Customer service is not available 24/7;
  • No live chat available;
  • Cannot trade futures or forex on the platform; and 
  • You can only trade on the US markets. 

 

FIRSTRADE CONCLUSION

Firstrade is one of the most affordable and discounted online brokerages in the world that provides international investors the opportunity to invest in the US stock market. The online brokerage allows you to trade all the investment options for free, and this applies to both US-based and international investors. The company is fully regulated, and you can trade on both mobile and web from anywhere in the world. 

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