Firstrade
Securities was established in New York with the name of First Flushing Securities
in 1985. Founded by John C, it is one of the best discount brokerages which offer
investors with range of products to choose from. There are no minimum deposit
requirements by the company which makes its better option for beginners. Company
first offered online brokerage service in 1997 and its services have been revised
five times over this period of time.
Firstrade
trading accounts has two different types of trading accounts, investment and
retirement. Investment accounts include Individual, Joint, Custodian, Investment
Club, etc, and Retirement accounts include various types of IRA accounts, Money
Purchase Plan, Profit Sharing, etc.
Firstrade
trading platform has variety of products and services for investors so they
may choose from stocks, ETFs, Certificate Deposits, Bonds, mutual funds, fixed
income securities, options, dividend investment plans and margin investment, which
ever suits investor’s need. Investor has a facility to trade online or through
mobile device or use Firstrade
online broker as a medium.
Company has lowest commission charges on stocks and options
when compared to other discount brokerages. Firstrade
securities products charge $6.95 per trade on trade of stocks and
options through online market orders and limit orders. Fixed income securities
excluding CDs of primary market are charged their yield as commission whereas
CDs are charged $30 per trade. Mutual
funds have zero commission for no transactional and load funds, however no-load
funds are charged &9.95. There is zero commission for trade of 10 ETFs with
10 shares.
Company also specializes in techy apps which allow investors
to keep track of twenty stocks at one time. Firstrade
securities services provides time saving facilities like real-time
quotes, real-time technical analysis, etc. mobile applications are also
available for android and iOS users who wants to trade via mobile.
According to Firstrade
securities review, it is rated among best online brokerages by many
publications in the industry. Firstrade was named “best deal” by the SmartMoney
Magazine in 2005. It is also named as “top clean-hands firm” and “clear winner
in the mutual funds category” by the Finance Magazine.
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