Firstrade Review 2025
Everything free: stocks, options, mutual funds. Limited-time 3% IRA match. Basic platform but hard to beat on cost.
⏰ Limited Time: 3% IRA Match
January 21 - April 15, 2025: Get 3% match on IRA contributions via ACH, wire, or check. Standard vesting applies.
The Bottom Line
Firstrade pioneered free options trading and continues to offer $0 on everything—including mutual funds (where competitors charge $49+). The limited-time 3% IRA match adds temporary appeal.
The platform is basic and the brand is less known, but for pure cost savings, Firstrade delivers.
What Firstrade Does Best
Free Everything
$0 stocks, $0 options, $0 mutual funds. While others charge $49.95 for mutual fund trades, Firstrade charges nothing.
$250 Transfer Rebate
Firstrade reimburses up to $250 in transfer fees from your old broker—higher than most competitors.
Limited-Time IRA Match
During tax season (Jan 21 - Apr 15), Firstrade offers 3% IRA matching—matching Robinhood's rate temporarily.
Where Firstrade Falls Short
Basic Platform
The website and app are functional but dated. Limited charting, basic research.
Less Established
Smaller company than Fidelity or Schwab. Less brand recognition, fewer resources.
High Margin Rates
Around 12%—among the highest. Don't use margin here.
Who Should Use Firstrade
- Mutual fund traders wanting $0 transaction fees
- Options traders wanting completely free options
- Cost-focused investors who prioritize savings over features
Who Should Look Elsewhere
- Margin users: Rates are too high
- Those wanting advanced tools: Use Fidelity or Schwab
- Brand-conscious investors: Bigger names offer similar pricing
The Verdict
Firstrade is a solid choice for mutual fund investors (truly $0 trades) or anyone maximizing cost savings. The limited-time IRA match adds appeal. For most investors, Fidelity offers better value overall.