Introduction
With the rise of online trading platforms, it’s becoming essential to choose a legitimate and reliable broker. In this article, we’ll explore whether First Trade is a trustworthy trading platform or not. We’ll look at its features, regulations, fees, and customer support to help you make an informed decision.
What is First Trade?
First Trade is an online brokerage firm that offers investment services to traders worldwide. The company was founded in 2000 and has since been providing its clients with access to various financial markets through its platform. First Trade offers stocks, ETFs, options, and mutual funds trading.
Regulation
First Trade is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These regulatory bodies ensure that the broker complies with the rules and regulations set forth by the government. In addition, First Trade is a member of the Securities Investor Protection Corporation (SIPC), which protects customers’ securities and cash up to $500,000 in case of broker-dealer insolvency.
Features
First Trade offers a user-friendly platform that allows traders to trade various financial instruments. The platform has advanced charting tools, research tools, and a customizable dashboard. Moreover, the platform is available on desktop, mobile, and tablet devices, enabling traders to trade on the go.
Trading Fees
First Trade charges $0 commission fees for stocks, ETFs, and options trading. Moreover, it doesn’t charge any account maintenance or inactivity fees. However, it charges $3.95 per trade for mutual funds trading.
Customer Support
First Trade offers various customer support channels, including phone, email, and live chat. The support team is available 24/7, and the response time is relatively fast. Moreover, the broker has a comprehensive knowledge base that covers various topics, including account opening, trading, and funding.
Is First Trade Legit?
Based on the above analysis, we can conclude that First Trade is a legitimate and trustworthy trading platform. The broker is regulated by reputable regulatory bodies, offers competitive fees, and has excellent customer support. Moreover, it has been in the industry for over two decades, which is a testament to its reliability and stability.
Conclusion
In conclusion, if you’re looking for a reliable and trustworthy online trading platform, First Trade is an excellent choice. Its user-friendly platform, competitive fees, and excellent customer support make it an ideal platform for both novice and experienced traders. However, before investing your money, it’s always recommended to conduct thorough research and seek professional advice.
