Firstrade Reduces Trade Commissions to $2.95
NEW YORK, Sept. 19, 2017 /PRNewswire/ -- Firstrade announced today that the company will reduce its standard online equity and ETF trade commissions from $4.95 to $2.95. It's a reduction of approximately 40%. The company also lowered the price of options trades from $0.65 to $0.50 per contract, a reduction of over 23%.
The new price structure will make Firstrade the lowest fee provider among all the major online trading firms.
Talking about why Firstrade has decided to make such a move, Chief Executive Officer John Liu says, "Fees should never be a concern when people make investment decisions. That's why we work hard to provide our customers with outstanding service at an affordable price. To achieve this goal, we've leveraged technology to help streamline and automate our internal processes in order to lower our operational costs. We are happy to pass on this savings to our clients and offer them more value for less."
The new commission pricing will take effect on September 19, 2017. Firstrade continues to offer no fee IRAs, low margin rates and no minimum deposit or inactivity fees. Firstrade has launched other commission reduction campaigns, like offering 12 commission-free ETFs. The firm also offers extended hours trading from 8:00am ET to 8:00pm ET.
Firstrade has earned a 4.5 star rating from Stockbrokers.com for "Ease of Use" and has been selected as one of the top 10 online stock brokers by Kiplinger.
"Our mission is to empower people by helping them invest smarter, and this has been our guiding principle since day one of Firstrade," continued Mr. Liu. "People are investing for their future, and their brokerage should help them reduce invest cost. I'm glad that with our new low fee, Firstrade is further able to deliver value to our customers."
About Firstrade Securities
Firstrade is a leading online brokerage offering a full line of investment products and tools to help self-directed investors take control of their financial future. Since its founding in 1985, Firstrade has worked to provide high value and quality services to our customers. Combining proprietary trading technology, a highly intuitive user interface, outstanding customer service and mobility applications, Firstrade is a comprehensive solution for all of your investing needs. Whether you are a new investor or active trader, at Firstrade, we are committed to excellence, and putting the investor first. For more information, visit www.firstrade.com. Member FINRA/SIPC.
Media Contact: Louise Chen
Tel: (718) 269-1400 ext. 7758
Email: louise.chen@firstrade.com
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SOURCE Firstrade Securities
