BankFiesta.com

John Liu; the current President of Firstrade Securities established the firm in 1985. Headquartered in Flushing, New York, it is a privately-owned discount retail brokerage firm. Firstrade was among the early few to launch an online trading platform and has since been a pioneer in this field. Over the years, the company has won many accolades for its innovative services and aggressive pricing.

Firstrade has been a market player for brokerage services for over 23 years. It was the “most affordable” discount broker in 2004 when it superseded heavyweights like Scottrade and Wall Street Access in the Discount Brokers “Commissions and Fees” category. Firstrade also had the second best average phone hold time for all brokerages in the U.S. Firstrade got a special mention in the August 2005 SmartMoney Magazines Annual Basic Broker Comparison Survey for its aggressive pricing. A “best deal” title comes from its aggressive $6.95 commission’s offer (on limit orders).

In July 2006, Kiplinger's Personal Finance magazine adjudged Firstrade as the “clear winner” in mutual-funds space for its excellent offerings in this category. The unmistakable record for the fewest regulatory complaints, bagged Firstrade the accolade for the "top clean-hands firm". Highest standards at lowest possible costs; is Firstrade’s motto.

Firstrade offers its customers a plethora of services that are difficult to match. Increasing competition and a host of third party equity research and market research data providers have led a discount broker like Firstrade to offer research materials and market news. Other value added services of Firstrade have elevated its product offering to that of a regular full service broker. The array of extensive services includes almost every aspect of a full value online trading account.

Investors can perform buy and sell transactions for options, mutual-funds, equity, exchange traded funds and bonds through the online trading platform. Securities listed on the AMEX, the NASDAQ Stock Market, NYSE and the Over-the-Counter (OTC) markets are also covered. Firstrade also provides business services like trading and factoring services in Certificate of Deposits, Federal Bonds, fixed income securities such as Municipal or Corporate Bonds and Agency Bonds.

Firstrade guarantees 3 seconds execution time, top class security, an insurance cover of up to $150 million, a single portal access to 400 fund houses and over 10,000 mutual funds. Their account offers the standard real-time portfolio trackers and other monitoring services, all these services at the lowest commission in the market. Another feature is no commitment for maintaining a minimum balance, which is considered a value add for novice investors who wish to start small.

Firstrade is the only portal that caters to traditional and simplified Chinese users. Users have an option to download the transaction information directly to Microsoft Money or Quicken files for accessing offline and for records. Online tools offer equity research by Standard and Poor's, X-Stream applications options for watching live news feeds etc. The portal hosts an active blog, a newsletter along with 24hours online customer support. The customer service is available on telephone, online or live chat. However, they do not offer all service for 24 hour support.

The company offers its clients knowledge and adequate information so as to help them make the right investment decisions. In order to hand-hold novice users and provide a demonstration of their services, Firstrade has a designed an information center. There is an interactive flash tutorial available online. This enables a hands-on training for those who might want to get a feel of the application before using the actual system.

The company caters to investment needs of individuals, international investors, businesses and trusts etc. There are investment accounts for customized requirements like retirement, education savings and insurance.

One of the services on the portal allows the user to customize the home page and the applications based on his or her experience and comfort level. It has something for every investor. Be it serious traders or first timers.

The Firstrade information center offers a glossary of financial terms, an extensive FAQs section. It also provides information about investment vehicles, tips on tax implications and tips to manage tax liabilities. An online bookstore on the company website offers the best reading material and additional information.

Overall, Firstrade has consistently been in the news for its high levels of service, varied product offerings and low cost to the investor.