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Firstrade Promotion Code

By on October 16, 2012

If you’re going to open a new account with Firstrade, make sure you claim the Firstrade promotion code listed below!

Latest Firstrade Promo Code

[Valid In 2012]:

Click below to claim promotion code


Basic Firstrade Review:

If you’re looking for a discount online broker account that has been around for many years, Firstrade may be an option for you. They opened for business in 1985 and grew along with the online technology they offer. In 2011, the website underwent some much needed updates to lesson the paper registration that had been required previously.

Firstrade Accounnt Features

This broker offers an education section on their website to help new users understand everything about trading including investment strategies, tax guides, a glossary of investment terms, and margin loans. The investment guides section of the website offers guides to stock investments, fixed income, options, mutual funds, exchange trade funds. Many of the online tools available are clearly behind some of the other online brokers, but for stability and longevity of a broker, it it definitely not a bad choice.

Firstrade offers mobile trading but currently only has an iPhone app with no apps for other popular phones such as Blackberry and Android, which is a big drawback for many traders drawn to the mobile platform.

The broker does have a large selection of mutual funds compared to many other online discount brokers. However, if the mutual fund is held for under 180 days, you’ll be assessed a $19.95 fee. There is an impressive 10,000 in mutual funds along with fixed income investments that account holders can choose from annually.

Firstrade Fees

There is a $0 minimum to open an account, which is very appealing to those that may just be getting started with their investment portfolio. The broker will not assess an inactivity fee and there are no annual maintenance fees on the accounts. IRA accounts do not have set up, annual, or termination fees of any kind. ETFs and stocks are a flat rate of $6.95 and there are more than 5,000 stocks that are less than $2 but these also have 1/2 cent per share, which can add up fast. For $6.95 options, there is a per contract fee of $.75 cents and mutual fund no load funds are $9.95. Other fees include $2 to mail account statements and $1 for mailed confirmations, so it is advisable to sign up to receive these via the e-statements, which is free.

Have you used Firstrade before? Add your own Firstrade review and rating here.

 

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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