Firstrade Avaliações 47

I have been using firstrade for 3 years and I have to close account due to compliance reason of my new job.

I wired out all my fund and some of it is missing. My bank have no fees charged for remittance and firstrade denied any responsibility from their side. I'm now missing some of my funds. Never going back to Firstrade.

Have used the broker more than a year as a international costumer, almost never had issues. Very professional and good broker. Did withdraw money 2 times without any issues, did receive my Money within 2 days. That’s better than my local broker. Highly recommend. Don’t understand all these negative reviews!

I send all the requested documentation, send the documentation again, and they won't let me withdraw my funds.

I moved into a new home, provided the documentation as requested, and they deny my address change.

I send more documentation, speak to the same customer rep twice, Mr. C, regarding the matter and was told the docs were not enough.

SEC, here I come!

Today, 27 Jan 2022, at about 02:40 pm US Eastern, the Positions page of Firstrade stopped updating. As a result it is not possible to see the current value of any of the positions. As you can imagine this is an important factor when deciding whether or not to buy or sell shares.

Any broker has these basic functions it has to get right:
1. Show the current and correct value of the cash position, any other open position and the total value
2. During trading hours show the above using updated market quotes.

This has now been going on for over 30 minutes without Firstrade acknowledging it on their web site. I sent several emails marked as "URGENT - BUT" in the subject line and included screenshots to illustrate the problem. The only response I have is an automated reply stating the actual reply will take 1 or 2 business days.

This is the first time in 4 years this has happened. As other reviewers noted, a few days ago the cash balance was not correct on that day. Firstrade acknowledged that in the form of a notice on the web site. The issue was resolved the next day.

It looks as if software updates are rolled out without sufficient quality practices in place.

In summary: Firstrade is certainly suitable for investments where it is not important to have continously updated quotes, i.e., long-term investments where it doesn't really matter whether you check positions frequently. However, Firstrade is not suitable for other investments or trades such as leveraged ETFs, options or future. I'd judge the risk being too high because of the quality issues in their systems.

My account is missing money this morning. They claimed having technical issues, I want to wait till tomorrow to see if they fix the problem. Company of this kind cannot be trusted.

My funds are being locked for the whole day since pre-market hour as this company claims they are encountering issue to display the actual account value of some customers correctly. But the fact is the money in my account has currently disappeared and I have been unable to invest anything the whole day! I doubt where this company has taken their customers' funds to...
No action is done so far and no response from their CS.
Traders shouldn't use this company anymore. Imagine you can't sell or buy when you need / want to!

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.

I deposited money to my Firstrade account. When I tried to withdraw my money they refused to allow me to withdraw! I called and they refused to allow me to withdraw. I asked to speak with the manager but they refused to allow me to speak with the manager.

I have an account here for 2 years. They locked my trading and I cannot transfer my money out. I called them everyday for two weeks. The customer services never know what happens and how to help me out, one of the guy is even really rude and takes it is not of his business. So bad. and I tried talk to the manager, the manager never answered. Avoid this company if you want your money safe. I am still be locked for my account for no reason. If there is a zero rating, I am sure going to give them a zero, ridiculous.

Tried depositing from 2 different banks. Every time it fails and I lose money. Last time the transaction got lost and I didnt get any helpful answer from them. Very poor suppprt they reply with silly answers after a week. This service is just a big scam. I never recommend anyone to use it. Stay away from it!

Cannot fund my account. Contact customer service 5 days ago and still waiting... already considering closing my account all together.

Zero response time to emails and almost impossible to reach a customer service rep.

Firstrade offered free trades at a time when other brokers were charging about $5 per trade. Back then I would put up with long phone wait times to get free trades. But now every broker offers free trades, and Firstrade's service has gone down, not up. Twice today I waited on the phone for over 30 minutes, only to have the system hang up on me. Not good when you have a problem that needs a human solution.