Firstrade

Firstrade offers commission-free mutual fund trading in addition to free stock and options trading, which is a benefit no other broker can match. Options traders will value the broker's lack of contract fees, which is also uncommon among brokers. Additionally, Firstrade added 38 cryptocurrencies to its platform so far.

In addition to a highly regarded mobile app for iOS and Android, Firstrade offers three trading platforms, including a desktop platform, Options Wizard, and Firstrade Navigator. Firstrade does not charge a per-contract fee for trading options. Professional investors might be unhappy that Firstrade doesn't offer trading in forex, futures, or futures options to go along with its extremely low options trade pricing. However, retirement retirees have plenty of possibilities to use Firstrade to create and manage their portfolios.

Before $0 trades became the industry norm, Firstrade was a pioneer in commission-free trading for stocks, options, and ETFs. Prior to that, only Firstrade offered retirement accounts as a commission-free broker (unlike the original free-trade brokerage, Robinhood, which offers only taxable brokerage accounts).

Pros:

• Commission-free stock, ETF, and options trades.
• $0 contract fee on options trades.
• All mutual funds are commission-free.
• Chinese language options.
• Large selection of cryptocurrencies.

Cons:

• No 24/7 customer support.

Founded: 1985

Total assets: US$4 billion (2019)

Website: https://www.firstrade.com/

NerdWallet rating: 4.7/5.0