Is Firstrade a Safe and Trustworthy Broker

Firstrade has been in business since 2002, which is a significant milestone in the financial industry.

Firstrade is a registered brokerage firm with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA), which are two major regulatory bodies in the US.

Firstrade has a minimum account balance requirement of $0, making it accessible to investors with limited capital.

Firstrade offers a range of investment products, including stocks, options, ETFs, mutual funds, and bonds.

Firstrade is a U.S.-based discount brokerage firm that has been around since 1985.

It's regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which means it's a legitimate brokerage firm.

Firstrade offers commission-free trading and user-friendly platforms, making it a great option for investors of all levels.

The firm caters to a wide range of investors, from beginners to seasoned traders, so you can find a platform that suits your needs.

Firstrade has been in business for over 35 years, which suggests a level of stability and experience in the industry.

Firstrade is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which provides protection for investors in case of brokerage failures.

Firstrade utilizes industry-standard security measures to safeguard your personal and financial information.

Firstrade's commitment to regulatory compliance and user security is evident, making it a reliable choice for investors concerned about safeguarding their assets.

Firstrade's security measures include encryption and two-factor authentication to ensure the security of its platform.

Firstrade offers protection for accounts up to $500,000 (including $250,000 for cash claims).

The firm's regulatory bodies provide protection for investors in case of brokerage failures or other unforeseen circumstances.

Firstrade is a legitimate brokerage firm that is regulated by FINRA and SIPC.

Here are the regulatory bodies that provide protection for Firstrade investors:

Firstrade's membership in these regulatory bodies provides peace of mind for investors, knowing that their assets are protected in case of unforeseen circumstances.

Firstrade's safety record has raised some red flags. Very negative reviews from users have been reported across various platforms.

Scamadviser, a review website, has given Firstrade 1.5 out of 5 stars based on 2 reviews. MyWOT, another review website, has given Firstrade 4.3 out of 5 stars based on 2 reviews, but this is likely an error as it contradicts the overall negative trend.

However, Trustpilot has a more accurate representation of Firstrade's reputation, with an average rating of 1.7 out of 5 stars based on 39 reviews. Sitejabber also reflects a negative view, with an average rating of 1.8 out of 5 stars based on 2 reviews.

These low ratings suggest that users have had a poor experience with Firstrade, and it's worth considering the potential risks before using their services.