Firstrade Review 2012


Firstrade Commissions


  • $6.95 per stock/etf trade
  • Options: $6.95 plus $0.75 per contract for market and limit orders
  • Mutual funds: $9.95 no-load funds, $0 load funds
  • Bonds: net yield basis
  • CDs: $30 for primary market CDs, net yield basis for secondary market CDs


Firstrade Important Fees and Surcharges


  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $0


Firstrade Pros


  • $0 minimum to open account
  • 10,000 mutual funds and fixed income investments
  • No inactivity or account maintenance fees
  • No annual, setup or termination fees for IRA accounts
  • Free dividend reinvestment


Firstrade Cons


  • Surcharge of 1/2 cent per share for stocks under $2 or orders of over 5,000 shares
  • Customer service complains
  • Paper-heavy registration and service setup process
  • Short Term Redemption Fee of $19.95 will be applied to redemptions of no-load fund shares held less than 180 days


Firstrade Account Types


  • General Investing Account
  • Individual
  • Joint WROS
  • Custodial

  • Asset Management Account
  • Firstrade Smart Account

  • Retirement & Educational Accounts
  • Traditional, SEP & Rollover IRA
  • Roth IRA
  • SIMPLE IRA
  • Coverdell ESA

  • Internatonal Accounts
  • Foreign Account


Firstrade Brokerage Review


Firstrades' $6.95 flat rate per trade commission is not bad but with 1/2 cent per share surcharge for stocks under $2 or orders of over 5,000 these trades could become very expensive. Minimum to open cash account is $0.

Firstrade has an impressive choice of mutual funds to invest in. But remember about of $19.95 fee if you hold mutual fund for less than 180 days.


Current Promotional Code


Firstrade - 250 trades + up to $100 in transfer fees reimbursed



Firstrade Reviewed by Savings-Secrets.com on . Rating: 3
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