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Firstrade / Refusing to give my money back!

1 United States Review updated:

Firstrade made an unauthorized withdrawal from my checking account. It seems to me that they ARE HAVING LIQUIDITY PROBLEMS. While I investigated the withdrawal, i tried to transfer the money back into my checking account. Firstrade's policies clearly state that ACH deposits are available for withdrawal after 7 days (or 10 days I don't recall from top of my mind). However, Firstrade refused to give the money back for more than two months.

When I asked Firstrade to send me a copy of their policies, they send me back an email confirming that the money should be available after 7/10 days (that was the actual text of the policy). But then ignoring their own message they stated that the policy was to witheld deposits for 2 months.

After I complained with FINRA and the SEC was money was returned promptly (by the deadline stated by FINRA)...

Morale of the story: stay away from FIRSTRADE. It seems that they are about to go under.

More Firstrade Complaints & Reviews

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  • Ja
      20th of Oct, 2007
    0 Votes

    You not switch to Where you can trade stocks for free?

  • Sh
      17th of Apr, 2017
    0 Votes

    I have met this same situation and wanna to complain with FINRA.

  • Ah
      16th of Aug, 2018
    0 Votes
    Firstrade - Access to money
    San Jose
    United States

    BIG SCAM! Once I deposited the money they are refusing to let the money out claiming my bank account is forzen. I assured them my bank account is not frozen. got a letter form the bank and statement i used it daily. Still no access to my funds. Don't do my mistake save your self the headache and avoid them like a plague.

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