Firstrade
firstrade.com
US discount broker with $0 commissions on stocks, ETFs, options and mutual funds, no per-contract options fee and no exercise or assignment fee.
What it is
Firstrade is a US online broker for individual, joint and retirement accounts (traditional, Roth and rollover IRAs), and it also opens accounts for international clients. Stocks and ETFs trade on NYSE, Nasdaq, NYSE American and OTC markets, alongside options, more than 11,000 mutual funds, bonds and CDs, and fractional shares for most stocks and ETFs.
Its main draw for options traders is cost: stock, ETF and options trades are commission-free and there is no per-contract fee. Exercise and assignment are also free, and there is no account minimum or inactivity fee. Regulatory pass-through fees such as the SEC fee on sales and the options regulatory fee still apply, as at every broker.
Trading runs on a web platform, iOS and Android apps and a desktop platform. Research comes from Morningstar, Zacks, Briefing.com and OptionsPlay, and the OptionsWizard tool adds options analytics. Extended hours run from 7 a.m. to 8 p.m. Eastern for NYSE and Nasdaq stocks and ETFs, with an overnight session for more than 1,200 of them, limit orders only.
Costs to check before opening an account: margin rates start at 12.25% on balances under $25,000, broker-assisted trades cost $19.95, and moving your account out costs $75 for a full transfer.
Key features
- Commission-free options
- $0 commission and $0 per contract on options trades, with no exercise or assignment fee.
- Mutual funds
- More than 11,000 mutual funds with no transaction fee; short-term redemptions within 90 days cost $19.95.
- Extended and overnight hours
- Trading from 7 a.m. to 8 p.m. Eastern on NYSE and Nasdaq stocks and ETFs, plus an overnight session from 8 p.m. to 4 a.m. for 1,200+ symbols. Limit orders only.
- Third-party research
- Reports and data from Morningstar, Zacks, Briefing.com and OptionsPlay, with daily trade ideas and an IPO browser.
- OptionsWizard
- An options analytics tool built into the platform for analysing chains and strategies.
- Fractional shares
- Buy parts of shares in most stocks and ETFs; fractional positions cannot be moved out by ACAT and are sold on transfer.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Stocks and ETFs | $0 | Per online trade, including extended and overnight hours |
| Options | $0 | No commission, no per-contract fee, no exercise or assignment fee |
| Mutual funds | $0 | All fund types online; $19.95 for redemptions held under 90 days or under $500 |
| Broker-assisted trade | $19.95 | Options add $0.50 per contract |
| Margin | 12.25% to 8.25% | By debit balance; 12.25% under $25,000, based on an 11% base rate |
SEC fees on sales and the $0.02 per contract options regulatory fee are passed through. Treasuries, municipal and agency bonds trade on a net-yield basis; new-issue CDs cost $30. Transferring out costs $55 for a partial and $75 for a full ACAT transfer.
Checked September 25, 2026 on firstrade.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- No per-contract options fee, which adds up for multi-leg and high-volume options traders
- No account minimum and no inactivity fee
- Broad product range, including over 11,000 mutual funds and bonds
- Overnight trading on more than 1,200 stocks and ETFs
Limitations
- Margin rates are high on small balances: 12.25% under $25,000
- Transferring an account out costs $75 (full) or $55 (partial)
- Extended and overnight sessions take limit orders only, and options trade only in regular hours
- Broker-assisted trades cost $19.95
Good fit for
- Options traders who want to avoid per-contract fees
- Buy-and-hold investors who want mutual funds and IRAs without commissions
- Traders who want overnight access to popular stocks and ETFs
Look elsewhere if
- Active margin traders with small accounts, who will pay a higher rate than at some competitors
- Futures or crypto traders, since the site does not list either product
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Firstrade questions
Does Firstrade charge options contract fees?
No. Online options trades are $0 commission and $0 per contract, and exercise and assignment are free. Regulatory fees such as the $0.02 per contract ORF still apply.
Is there a minimum to open a Firstrade account?
No. Firstrade lists no account minimum and no inactivity fee.
What are Firstrade's margin rates?
With the 11% base rate, rates run from 12.25% on balances under $25,000 down to 8.25% above $1 million.
Does Firstrade offer extended-hours trading?
Yes, from 7 a.m. to 8 p.m. Eastern for NYSE and Nasdaq stocks and ETFs, plus an overnight session for more than 1,200 symbols. Only limit orders are accepted.
How much does it cost to leave Firstrade?
A full ACAT transfer out costs $75 and a partial transfer $55.
Written from Firstrade's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: firstrade.com, firstrade.com/content/en-us/pricing, firstrade.com/content/en-us/pricing/otherfees, firstrade.com/trading/pricing/margin-rates, firstrade.com/trading/extended-hours, help.firstrade.info/en/articles/9260059-what-is-the-acat-transfer-fee.