Firstrade
Overview
Firstrade Securities is a veteran discount broker that has successfully pivoted to the modern "zero-fee" era. While less famous than Robinhood or Schwab, it is a hidden gem for active options traders and international investors. It is one of the very few brokers to offer $0 contract fees on options trading (most charge $0.65). In 2026, it remains a leader for the Asian market, offering 24/7 support in Traditional and Simplified Chinese and expanded 20/5 overnight trading.
Key Specifications
| Account Minimum | $0 |
|---|---|
| Stock & ETF Trade Fee | $0 (Includes 1,200+ securities for 20/5 Overnight Trading) |
| Options Fee | $0.00 commission & $0.00 contract fees (Truly free) |
| Mutual Fund Fees | $0 (For all 11,000+ mutual funds, no load or transaction fees) |
| Fractional Shares | Yes (Newly added in 2026 for major S&P 500 stocks) |
| IRA Match | 3% match on new contributions (Limited time 2026 promo) |
Trading Platforms
1. Firstrade Mobile App (Invest 3.0)
The mobile app is now powered by the 3.0 engine, featuring a "Quick Trade" floating button that lets you execute orders from any screen. It allows for complex multi-leg option orders directly from the phone. A key feature is the Options Wizard, which provides instant feedback on the likelihood of success for any strategy before you click buy.
2. Firstrade Invest 3.0 (Web)
The 2026 web platform is a major leap forward, offering a professional-grade "Navigator" view and integrated **OptionsPlay**. It includes visual analytics that translate complex Greek data into plain English "Strategy Checklists," making it a favorite for intermediate traders who want to graduate from basic stocks to advanced income strategies.
Investment Features
- International Access: Accepts accounts from over 25 countries (including India, Taiwan, and much of Europe), offering a rare gateway for non-US residents to trade US markets with SIPC protection.
- OptionsPlay: Free access to premium signals and "Covered Call Income" reports that typically cost $500/year as a standalone subscription.
- Overnight Trading: In late 2025, Firstrade launched 20/5 trading, allowing users to trade 1,200+ popular stocks and ETFs from 8:00 PM to 4:00 AM ET.
- Securities Lending: Earn passive income on stocks you already own. Firstrade shares the interest with you when short sellers borrow your shares.
Account Types
Firstrade offers a comprehensive list of account types:
- Individual & Joint Taxable
- Traditional, Roth, & Rollover IRAs (with 3% Match)
- SEP-IRA & SIMPLE IRA
- Custodial Accounts (UTMA/UGMA)
- Coverdell ESA (Education Savings)
- Business / Corporate Accounts