Firstrade Securities
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| Firstrade Securities Inc. | |
| Type | Private |
|---|---|
| Founded | Flushing, New York (1985) |
| Headquarters | Flushing, New York, USA |
| Key people | John C. Liu, CEO |
| Industry | Brokerages |
| Products | Stock Brokerage |
| Website | www.firstrade.com |
Firstrade Securities or 第一理財 is a privately-owned discount retail brokerage firm headquartered in Flushing, New York. It was founded in 1985 by John C. Liu. Investors can buy and sell stocks, bonds, options, mutual funds, on Firstrade's website, www.firstrade.com, which launched in 1997. Firstrade advertises that both market orders and limit orders can be traded for a reasonably low commission fee. The company slogan is "Low cost, Higher standards."
In the 2004 rankings of Discount Brokers Firstrade outranked such firms as Scottrade, Brown & Co. and Wall Street Access. In the category of Commissions and Fees, Firstrade outperforms all others such as TD Waterhouse, Ameritrade, Scottrade, Harrisdirect, and Muriel Siebert. And the category of average phone hold time saw Firstrade in the top two for shortest wait time for all brokerages ranked.[1]
In August 2005, SmartMoney Magazine included Firstrade in their Annual Basic Broker Comparison Survey Chart and made the following comment: "With fewer than 60,000 customer accounts, Firstrade is the smallest brokerage in our survey, but it offered the best deal: $6.95 commissions on limit orders."[2]
In July 2006, Firstrade was reviewed in Kiplinger's Personal Finance magazine. In the magazine's review of the online brokerage industry, Firstrade Securities was named the "clear winner" in the mutual fund category, and the "top clean-hands firm" with the least regulatory complaints.[3] Some of Firstrade's competitors include Scottrade, E*Trade and TD Ameritrade.
Firstrade's website can be accessed in both Traditional and Simplified Chinese.
[edit] References
- ^ TMCNET Article http://www.tmcnet.com/usubmit/2004/aug/1063298.htm
- ^ SmartMoney Magazine Broker Survey:Hook the Right Broker http://www.smartmoney.com/brokers/index.cfm?story=2005-intro&pgnum=3
- ^ June 2006 Firstrade Newsletter http://freetime.firstrade.com/en_us/newsletter0606.php
[edit] External links
- Firstrade Home Page
- Firstrade Monthly Newsletter in English or Chinese
