FirstradeReviews of firstrade.com

So far i have had very few issues . I have not tried to withdraw funds but every question i have asked has been answered right away. I dont agree with all their policies but they have been very honest and forthcoming with documentation. Site seems easy to use

I initiated ACAT out to transfer my positions to IKBR. They have rejected twice in 2 weeks. First rejection was about tax id mismatch between Firstrade and IBKR. I told that I am a nonresident international investor and do not have a US tax id. How could tax ids mismatch while I am not having one? That's ridiculous. The second rejection had no reason at all. I have filed a complaint with both SEC and FINRA.

I wanted to open a small account and practice a new options strategy w/o incurring a bunch of fees. That is what started me on Firstrade. I was willing to learn a new UI to do this. After opening and easily funding my account, I ran into the issue of not being cleared for the strategy (credit spreads). I called their customer service to find out why, because my TDA account lets me sell credit spreads. While the customer rep wasn’t outright rude, he was very abrupt and sounded angry. It was an easily solved issue (they did eventually approve me) but their customer service felt so off, I just decided to do this strategy in my TDA account. I initiated an ACH request to get my funds transferred back to my bank account. I figured it would take 5-10 business days and kinda forgot about it. Well, 3 weeks later I realized they hadn’t transferred my money and actually rejected the ACH. Why? Because they wanted a copy of my identification AND bank statement to release my money. The same bank account that the funds came from. They didn’t need these items to take my money, but they need them to give me my money back?? After talking to their customer service, and being told someone would contact me, I just decided to send them these things to get my money. Now, yes I sent them my ID and only the front page of my bank statement but I was told by their customer service rep that that would be fine. Apparently not. They need to see my whole bank statement to send me MY money. Ridiculous. It’s been 2 months and I’m still trying to get my money transferred back. This company is a scam.

Wire funds back is $35 and they said can not send money back to my 3rd country account. awful customer sevice

Dont recommend, terrible customer service . Get no help when it come to international accounts

Excellent and I have 3 brokers FT is my favorite one been customer for 10 years

Absoluty worthless. Can't trade anything low, can't transfer out, can't close your account. What good is this crap! And their fees are not cheap like they claim. Also they like to change their rules on trading fairly frequently. I'll never use then again and wouldn't suggest them to my worst enemy. JUNK

If I could give zero stars I would. Firstrade locked my account and I have been trying for weeks to transfer to another brokerage due to their poor service. The transfer keeps being rejected and they can't tell me why. I have spent numerous hours on the phone to no avail. Eventually I got my other brokerage firm to help me out with the transfer. AVOID FIRSTRADE LIKE THE PLAGUE. THESE PEOPLE ARE UNPROFESSIONAL AND CLUELESS. You'd swear that it is a Mom and Pop business that they're running.