Firstrade: $250 In Transfer Fee Rebates When You Switch

Firstrade is offering up to $250 in transfer fee rebates for traders that use the switching service. Traders must transfer at least $2,500 and keep the account open for 12 months.

Trading promotions are not be suitable for all traders, they can encourage overtrading, often include strict withdrawal restrictions, and are prohibited in certain jurisdictions. Read the terms and conditions carefully.

How To Switch

The switching service takes several minute to complete. Clients need to select the broker they want to transfer funds from and enter their existing account number. Firstrade will then manage the transfer, which typically takes three to four working days.

Traders must open a Firstrade account before initiating the transfer. Clients should make the transfer request one working day after opening an account.

Firstrade does not accept OTC-listed penny stocks or positions with a price per stock of less than $0.10, including any foreign securities listed in the OTC market.

Fee Rebate Conditions

Firstrade will cover fees up to $250 if the client uses the Automated Customer Account Transfer Service (ACATS). Traders must complete a Full Account Transfer of at least $2,500.

Mutual funds and fixed income products do not qualify. The fee rebate also only applies to transfers charged by the broker you are transferring funds from.

To claim the transfer rebate, clients must submit a copy of their most recent statement from the original broker with details of the transfer fee. Firstrade must receive the submission within 60 days of the transfer. The firm will then credit qualifying accounts within 30 days.

The offer applies to standard investment accounts and IRAs (Traditional IRA, Rollover IRA, and Roth IRA). If the client’s assets fall below the $2,500 threshold as a result of withdrawals or outgoing transfers, then Firstrade may rescind the transfer rebate.

About Firstrade

Firstrade is a well-known discount broker, headquartered in New York and established in 1985. The company is regulated by the SEC and also registered with FINRA/SIPC.

Thousands of instruments are available spanning stocks, options, ETFs, mutual funds and cryptocurrencies. Stocks, options and mutual funds are available with zero commissions and there is no minimum deposit. Brokerage-assisted stock and options orders cost $19.95 plus $0.50 per contract.

Three browser-based platforms are available to account holders; WebTrader, Firstrade Navigator and Options Wizard. An Apple and Android-compatible mobile app is also available, with custom watchlists, an intuitive portfolio dashboard, and stock research pages.