Firstrade Review
Firstrade Review
Although some online brokerages try to charm you with whistles and bells, Firstrade provides a straight down to business, cut and dry approach to online stock and options trading. By providing a very lenient system of fees it has becomes one of the least expensive brokers on the web. The drop in service and available resources from other more expensive online brokerages is apparent but not detrimental.
Firstrade is a great opportunity for new investors to start learning the ins and outs of online investing. They simply charge a flat fee of $ 6.95 per transaction with an additional $.75 per option contract. Additionally there are no minimum balance requirements. This allows the new investor to experience the intricacies of the market without risking a more funds than would be prudent or overextending themselves from other investments to meet minimal balance requirements. Commissions are also waived on mutual funds held for over 180 days. The website is easy to navigate and is unlikely to spawn any problems for casual or serious investors.
Firstrade offers a number of useful investments tools. This includes the X-stream which allows you to monitor up to 20 of your favorite stocks, streaming financial news, streaming portfolio updates and investment planning tools. Investors are further provided with access to a knowledge center that provides tax tips, investment guides and a recommended reading list. For the convenience of investors all transaction information is compatible with both Quicken and Microsoft Money.
The tools of Firstrade are not as robust as those provide at other sides. There is very little in terms of webcasts, multimedia educational material and there is no support for cell phone access to accounts which just seems out of date.
The main problem with Firstrade is that broker assisted orders are the astronomical price of $26.95 and touchtone phone orders cost $ 16.95. The high cost of getting direct assistance with your order is compounded by the weak array of financial tools available as compared to other online brokers. Although customer support is available via telephone email or live chute, they lack 24 hour support.
For the first time investor, this website offers a great opportunity. The low fees and the lack of a minimum balance requirement put less pressure on novice investors and opens up the world of option trading to those that might not have had the resources to beforehand. However, many other services offer a more extensive array of investment tools and support. Is The Payday Loan Lender In Your City Legitimate? Tips For Losing Man Breasts Quickly Improving Your Facial Skin With A Nice Face Cream How to Attract Women on Facebook Kids Pottery Wheels: The Focus Factor How to Improve Your Diet through Yoga with Weights ? Visit Tuscany Villas To Make Your Holidays Memorable. Go Ahead, MakeMyTrip Coupon For A Memorable Holiday Architectural Design, Outsourcing Architectural Drafting Services Wedding Loans-nothing Would Stop You From Celebrating Deafness can be cured through treatment Buy Sleepwear To Enjoy Sound Sleep Like Never Before Staffordshire Bull Terriers - Misunderstood?