Firstrade is a US discount brokerage founded in 1985 and headquartered in Flushing, Queens, New York. Known for its strong appeal to Chinese-speaking and international investors, Firstrade offers $0 commission on stocks, ETFs, options (including no per-contract fee), and mutual funds, paired with multilingual platforms and support. Its combination of zero commissions and accessibility for non-US-resident clients in eligible countries has made it a popular gateway to US markets for global retail investors.
About Firstrade
Founded by Robert Lin, Firstrade built its reputation by serving immigrant and overseas investors seeking low-cost access to US equities. The broker provides stocks, ETFs, options, mutual funds, and fixed income through web and mobile platforms available in English and Chinese. Regulated by the SEC and FINRA with SIPC protection, Firstrade differentiates itself with fully commission-free options trading — including no per-contract charge — which is rare among US brokers.
Key Facts
| Item | Details |
|---|---|
| Founded | 1985 |
| HQ | Flushing, New York, USA |
| Regulation | SEC / FINRA / SIPC |
| Products | Stocks, ETFs, options, mutual funds, bonds |
| Platforms | Web, mobile (English & Chinese) |
| Stock/ETF commission | $0 |
| Options | $0 + $0 per contract |
| Audience | International & Chinese-speaking investors |
Key Features
Truly Free Options
Firstrade charges $0 commission and $0 per-contract fees on options, one of the most aggressive options pricing models in the US market — a notable edge for active options traders who would otherwise pay $0.50–$0.65 per contract elsewhere.
Multilingual Access
With platforms and customer service in English and Chinese, Firstrade is especially accessible to Chinese-speaking and overseas investors, and it accepts clients from many countries, making it a practical bridge to US-listed stocks and ETFs.
No-Transaction-Fee Funds
The broker offers a large selection of no-transaction-fee mutual funds and commission-free ETFs, supporting cost-efficient long-term investing alongside active trading.
Fee Structure
| Service | Fee |
|---|---|
| US stocks & ETFs | $0 commission |
| Options | $0 + $0 per contract |
| Mutual funds | Many no-transaction-fee |
| Account/inactivity fee | None |
| Broker-assisted trades | Service fee applies |
Pros & Cons
Pros
- $0 options with no per-contract fee
- $0 stock and ETF commissions
- English & Chinese multilingual support
- Accessible to many international investors
- No account or inactivity fees
Cons
- US markets only — no global exchanges
- Basic platform vs pro-grade rivals
- No futures or direct crypto trading
- Limited research and analytics tools
Summary
Firstrade is a cost-leading US discount broker that stands out for fully commission-free options and strong accessibility to international and Chinese-speaking investors. Its $0 pricing across stocks, ETFs, and options makes it a compelling low-cost gateway to US markets, though its platform and research are more basic than pro-grade competitors. For overseas investors and cost-conscious options traders seeking simple US access, Firstrade is a standout value.