FirstTrade is our top pick for its range of investment products, low-cost trading, educational resources and beginner-friendly trading platform.
Why We Like It
There’s a lot to like about FirstTrade. There’s no minimum fee to open a FirstTrade account, so you can start investing with just a few dollars. When it comes to what you can invest in, you have plenty to choose from, including fractional or whole shares in stocks, exchange-traded funds (ETFs), mutual funds, crypto and options.
We also like that you won’t be bogged down with fees: FirstTrade doesn’t charge commissions or fees on most of its asset types. This includes no options contract fees, which is rare among top brokers. For fees that you might face, they tend to be lower than those of other brokers.
As for FirstTrade’s mobile app, it’s available on both iOS and Android and features a trading platform that’s intuitive and easy for beginner investors to adopt. You can view historical charts and company news, track price changes, set up screeners, access stock analysis and get AI-powered research.
Another standout FirstTrade offering is its educational material. You can access a library of articles covering common investment topics, a selection of beginner guides on different asset types and regular webinars that explore trading strategies as well as market discussion. If you need to reach customer service, you can do so via phone or email.
What We Don’t Like
We deducted points from FirstTrade for its lack of certain features, including a trade simulator and human or robo-advisory services. If you’re hoping to practice trading with a simulator, or get assistance from an advisor as you begin investing, you’re better off looking elsewhere.
Additionally, though FirstTrade delivers market insights via third-party firms, it doesn’t provide in-house research. It also doesn’t support forex or futures trading. And though you’ll be able to access customer support through several channels, you won’t be able to use web chat to reach a representative.
Who It’s Best For
FirstTrade is best for beginner investors who want to pay low fees across a range of securities, and don’t need access to advisory services or paper trading.