What is Firstrade?
Firstrade is an online brokerage firm that offers a platform for trading stocks, ETFs, options, and mutual funds with a focus on providing low-cost trading options.
When Did It Start Operating?
Firstrade was founded in 1985, making it one of the longer-standing brokerage firms in the industry.
Where Is Its Headquarters?
Firstrade is headquartered in New York, USA.
In Which Countries Is It Restricted?
Firstrade primarily serves clients in the United States and may have restrictions for residents in other countries due to regulatory compliance.
Advantages:
- Commission-Free Trading: Offers commission-free trading on stocks, ETFs, and options.
- User-Friendly Platform: The trading platform is designed to be easy to navigate, appealing to both beginners and experienced traders.
- Educational Resources: Provides a variety of educational tools and resources for traders.
Disadvantages:
- Limited Advanced Features: May lack some advanced trading tools compared to other brokerage firms.
- No Cryptocurrency Trading: As of now, Firstrade does not offer cryptocurrency trading options.
Which Instruments Can I Trade?
Firstrade allows trading in:
- Stocks
- Exchange-Traded Funds (ETFs)
- Options
- Mutual Funds
What Is the Trading Fee?
Firstrade does not charge commissions for trading stocks and ETFs. There may be small fees for options trades, but these are typically lower than industry standards.
Does It Allow Scalping?
Yes, Firstrade allows scalping, although traders should ensure they are aware of any specific guidelines or rules associated with this trading style.
Is There a Trading Platform?
Yes, Firstrade offers its own trading platform along with a mobile app, providing users with flexibility in trading.
Is Margin Trading Available?
Yes, Firstrade provides margin trading options, allowing traders to leverage their positions. However, margin requirements will vary based on the specific securities being traded.
