FIRSTRADE REVIEW 📈 $0 Commission And $0 Minimum Brokerage!

TL;DR

Firsttrade is an old but revamped brokerage account that offers commission-free trading, a variety of account options, phone support, international accounts, dividend reinvestment, and extended trading hours.

Transcript

• So in this video today, we are going to be doing a review of the Firsttrade Investing Platform. Now, if you guys are not familiar with who I am, I have my YouTube channel over here, Ryan Scribner, and I also have a personal finance and investing blog known as Investing Simple and I spend dozens of hours every single week researching different inv... Read More

Key Insights

• 🥶 Firsttrade is an old brokerage account that has adapted to the trend of commission-free trading.
• 🧡 They offer a wide range of account options, including retirement accounts and custodial accounts.
• 👻 Firsttrade allows trading of various assets, such as stocks, ETFs, options, mutual funds, and fixed-income investments.
• 🥶 The platform provides phone support, which is rare among free investing platforms.
• 😚 They have international accounts available for investors from close to two dozen countries.
• 👻 Firsttrade offers dividend reinvestment, allowing investors to earn compound interest.
• 😀 The trading platform may currently be outdated, but recent app releases suggest updates are being made.

Questions & Answers

Q: What sets Firsttrade apart from other free investing platforms?

Firsttrade differentiates itself by offering a variety of account options, including retirement and custodial accounts, and international accounts for investors outside of the U.S. They also provide phone support and allow trading of various assets.

Q: Does Firsttrade offer dividend reinvestment?

Yes, Firsttrade offers dividend reinvestment for stocks, allowing compound interest to accumulate. This feature is not commonly available on other free investing platforms.

Q: Is the trading platform of Firsttrade outdated?

While the online trading platform of Firsttrade may be outdated, they have recently released new trading apps for iOS and Android, indicating a move towards a more modern and cutting-edge design.

Q: Can I open a Firsttrade account with minimal funds?

Yes, Firsttrade has no minimum account balance requirement, allowing investors to open an account with as little as $5 if they want to test it out.

Summary & Key Takeaways

• Firsttrade is one of the oldest online discount brokers, but they recently transitioned to a commission-free model, offering zero-dollar trades with no minimum account balance.

• Unlike other free investing platforms, Firsttrade offers a range of account options, including retirement accounts, Roth IRA, custodial accounts, and trust accounts.

• Firsttrade allows trading of stocks, ETFs, options, mutual funds, and fixed-income investments, all commission-free. They also provide phone support and international accounts for investors from other countries.