Firstrade is an online discount stock broker. They have been in business since the 1980s and offer a wide variety of financial products including stocks, bonds, ETFs, mutual funds, options and retirement accounts. Since they are an online broker they are able to offer very competitive rates for their services. This pricing structure, along with an active community of users, allows Firstrade to be among the leaders in financial products and services.
It is very easy to get started with Firstrade. Opening an account is quick and painless. They do not require any minimum deposit to open an account and there aren't any minimums to keep your account open. Best of all, they do not charge any inactivity fees! You can open an account make a trade or two and then ignore it for awhile without a penalty. Many brokers charge for the privilege of having an account with them and require large opening deposits. If you already have a stock account at another institution they will pay any transfer fees to move your holdings to Firstrade. They make it easy to get started in the world of trading stocks by eliminating these two potential headaches.
Firstrade offers stock trades at $6.95 per trade. This price point puts them well below their nearest competitors, E*Trade and Ameritrade. Price is only the first component of trading stocks though and Firstrade has the back end covered also. Speed of transaction is the other half of the stock trading equation. Firstrade offers a three second execution guarantee, so a user can be confident that any trade will be executed within that time frame. The timing of a trade is important and Firstrade has made this a non-issue with their guarantee.
The offerings at Firstrade go beyond basic stock trading. They offer over 11,000 mutual funds for your portfolio and a long list of bonds and CDs to help diversify your investments. If you are looking for a retirement plan they offer no fee IRAs. These plans do not have any setup, maintenance or termination fees. The elimination of fees allows your money to work harder toward your retirement, instead of paying useless overhead.
There is also research available directly from S&P. With Firstrade you get direct access to Standard and Poor's Stock Reports and Five Star Recommendations. There are also live updates from Marketwatch and Valueline.
All of your stocks and investments are tracked in real time within your account. This feature allows you to see what all of your holdings are worth at any given time. You can easily check profit and loss instantly and in real time. Firstrade also has level 1 and level 2 streaming quotes to aid in building your watch list.
Firstrade is a great option for anyone looking for an online discount broker. They offer low cost trades, real time quotes and fast trade execution. They do not have the advanced research capabilities of some larger stock brokers, but if you are able to do your own research then they are an excellent broker choice.
DISCLOSURE OF MATERIAL CONNECTION:The Contributor has no connection to nor was paid by the brand or product described in this content.
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