The Review
Firstrade is the quiet overachiever of the brokerage world. While Robinhood gets the headlines, Firstrade has been offering commission-free trading on stocks, ETFs, options, and mutual funds since 2018 — and charges nothing for options contracts either. Zero commissions, zero per-contract fees, zero account minimums.
The platform is particularly popular with options traders because the zero per-contract fee saves significant money on multi-leg strategies. A 10-contract iron condor that costs $6.50 at Schwab costs nothing at Firstrade. For active options traders, this adds up to thousands saved per year.
Firstrade has been operating since 1985, making it one of the oldest online brokerages. The platform is no-frills — the interface is functional but not pretty. The mobile app has improved but still lags behind Robinhood and Webull in design. What you get is reliable execution, a broad product selection, and the lowest cost structure in the industry.
Why It Ranks #29
The lowest-cost options brokerage available. Zero commissions and zero per-contract fees on options make Firstrade the mathematically optimal choice for active options traders. Nearly 40 years of reliable operation.
Key Stats
1985
Founded
$0
Options Contract Fee
11,000+
Mutual Funds
$0
Account Minimum
Key Features
Fun Facts
Frequently Asked Questions
What is Firstrade?
Firstrade is the quiet overachiever of the brokerage world. While Robinhood gets the headlines, Firstrade has been offering commission-free trading on stocks, ETFs, options, and mutual funds since 2018 — and charges nothing for options contracts either. Zero commissions, zero per-contract fees, zero account minimums.
How much does Firstrade cost?
Firstrade pricing: Free | $0 options contracts | $0 mutual fund trades. It is best for Cost-Conscious Options Traders.
Why is Firstrade ranked #29?
The lowest-cost options brokerage available. Zero commissions and zero per-contract fees on options make Firstrade the mathematically optimal choice for active options traders. Nearly 40 years of reliable operation.
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