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1.0 3 Reviews

Firstrade Complaints Summary

0 Resolved
3 Unresolved
Our verdict: Engaging with Firstrade at a 0% resolution rate requires careful navigation. Deep-dive into detailed customer experiences to uncover systemic issues. Critically assess their service descriptions against actual user feedback. When interacting, document every detail, as comprehensive records are vital in such scenarios. Exploring alternatives and understanding your consumer rights are crucial steps. If necessary, be prepared to seek external advice or intervention. In challenging service landscapes, informed decision-making and proactive steps are essential for protecting your interests.
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Firstrade reviews & complaints 3

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Newest Firstrade reviews & complaints

ComplaintsBoard
U
4:39 am EDT

Firstrade Bottom of the Barrel!

Having dealt with brokers for many years these guys are the absolute bottom of the barrel. Unusual fees, exceptions buried in the fine print, and customer service which becomes adversarial as soon as they realize you won't stop asking questions.

Terrible, terrible experience. Counting the days until I am free to leave without being penalized.

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George40
, US
Jun 05, 2018 3:03 pm EDT

Firstrade refused to honor the $200 cash bonus offers for myself and my wife. Firstrade delayed sending the transfer requests to Capital One for two weeks (I know because I called Capital One), then by the time the securities had transferred, they said the 30 days had expired. I filled out all required forms as soon as they were requested/available.

ComplaintsBoard
J
12:00 am EDT

Firstrade Bait and switch!

The first thing anyone should check out when evaluating an online broker is their transfer out fee. For instance, Firstrade lured tons of customers into creating accounts with its free no-load mutual fund trades. Then they changed the policy and charge people $50 per account to leave. Classic bait and switch. No matter how reasonable their current prices, how can anyone trust them not to do the same type of thing in the future? Not illegal, just unethical. Take a pass!

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U
Unhappy with Firstrade
, US
Apr 15, 2016 4:40 am EDT

Sounds par for the course.

ComplaintsBoard
B
12:00 am EDT

Firstrade Refusing to give my money back!

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.

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A
Ahmad El
, US
Aug 16, 2018 2:49 am EDT

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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Sherry Xie
, US
Apr 17, 2017 10:29 pm EDT

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

J
J
jack_hco
Minneapolis, US
Oct 20, 2007 12:37 pm EDT

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

Is Firstrade legit?

Our verdict: Through its investigations, Complaints Board highlights Firstrade with moderate legitimacy concerns, advising potential users to proceed with caution. The advice underscores the importance of meticulous review of Firstrade's practices before engagement.

Firstrade earns 36% level of Trustworthiness

Moderate Trust Alert: Complaints board rates Firstrade at 36%. Read reviews and beware of negative issues before engaging.

Firstrade protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.

Customers should be cautious when purchasing products from this company, as scammers often use similar items to defraud unsuspecting individuals.

We found that the website Firstrade is based in a high-risk country and appears to be selling well-known brands at unusually low prices. This could be a sign of potential fraud or counterfeit products.

We conducted a search on social media and found several negative reviews related to Firstrade. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.

However ComplaintsBoard has detected that:

  • We found clear and detailed contact information for Firstrade. The company provides a physical address, 5 phone numbers, and 2 emails, as well as 4 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.
  • A long registered date for firstrade.com can be seen as a positive aspect for Firstrade as it indicates a commitment to maintaining the website and its domain name for a long period of time. It also suggests that the company is organized and has taken steps to secure its online presence.
  • The age of Firstrade's domain suggests that they have had sufficient time to establish a reputation as a reliable source of information and services. This can provide reassurance to potential customers seeking quality products or services.
  • Firstrade.com has a valid SSL certificate, while Scammers can obtain a valid SSL certificate by using fake information or by using a stolen or hijacked domain. In some cases, they may even use a certificate issued to another legitimate website.
  • We looked up Firstrade and found that the website is receiving a high amount of traffic. This could be a sign of a popular and trustworthy website, but it is still important to exercise caution and verify the legitimacy of the site before sharing any personal or financial information
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Contact Firstrade customer service

Phone numbers

+1 800 869 8800 +1 (718) 961-6600 More phone numbers

Website

www.firstrade.com

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