No, Firstrade does not offer a Demo Account that simulates live trading conditions. Traders will unfortunately not have access to the same functions, features, and options that they normally would on a live trading account.
Firstrade at a glance
| 🔍 Broker's Name | Firstrade |
| 📍 Headquartered | New York |
| 📅 Year Founded | 1985 |
| 🏛 Regulating Authorities | the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) |
| 🌐 Countries not accepted for trade | Most countries accepted |
| ☪️️ Islamic Account (Swap Free) | No |
| 📒 Demo Account | Yes |
| 📒 Institutional Accounts | No |
| 💻 Managed Accounts | Yes |
| 📊 Maximum Leverage | Margin of 6% |
| 💳 Minimum Deposit | No Minimum Deposit |
| 💳 Deposit Options | ACH, Cheque, Bank Wire Transfer |
| 💳 Withdrawal Options | ACH, Cheque, Bank Wire Transfer |
| 💻Platform Types | Firstrade proprietary platform |
| 📲 OS Compatibility | PC and Mac OS, mobile for Android and IOS |
| 📊 Tradable Assets | Stocks Options ETFs Mutual Funds Bonds/CDs/Fixed Incomes Margin Investing Dividend Reinvestment (DRIP) Securities Lending Income Program |
| 🌐 Languages Supported | English, Traditional Chinese and Simplified Chinese |
| ☎ Customer Service Hours | 24 hours a day/ 5 days a week |
Min Deposit
USD 0
Regulators
SEC, FINRA
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Firstrade Demo Account below.
Firstrade Demo Account Types Revealed – A Key 8 Point Quick Overview
- ✅Firstrade at a glance
- ✅Firstrade Overview
- ✅How to set up a Firstrade Demo Account – Step by Step
- Demo Account Features
- Firstrade Pros and Cons
- Firstrade Customer Reviews
- Conclusion
- Frequently Asked Questions
Here is an overview of the Firstrade Demo Account as well as the features that are offered.
Firstrade Overview
Firstrade is a US-based brokerage and investment firm that has a long operational history dating back to its establishment in 1985. Firstrade is a secure and well-regulated broker which is overseen by such reputable organizations as The Securities and Exchange Commission, Financial Industry Regulatory Authority, and Securities Investor Protection Corporation.
Clients of Firstrade also have the added benefit of working with a stock exchange-listed company. All companies listed in the U.S stock market are highly regulated by the Securities and Exchange Commission. Most of the operating and financial documents are also available to the public.
Firstrade offers a variety of investment products including stocks, options, ETFs mutual funds, and bonds. The variety provides investors the flexibility to select the products of their choosing based on their financial needs. In addition, investors are also allowed to execute special orders depending on the market condition as well as the risk tolerance and trading style of each investor.
Costs are relatively low for self-directed online trades. There are no minimum stock trading requirements on the number of shares per trade. You can have as little as one share per trade. Firstrade offers a comprehensive array of online broker tools, market insights, and stock analysis reports that help you make sound decisions in building your investment portfolio.
These reports are provided by the world’s most authoritative financial companies, such as Morningstar, Briefing.com, Zacks, Benzinga, and PR Newswire. You can trade online or on mobile devices with our low commission of $0 per trade. Firstrade is an excellent choice for experienced traders seeking portfolio diversification. Beginner traders may find the broker’s offering daunting, particularly with a lack of educational tools
How to set up a Firstrade Demo Account – Step by Step
Firstrade does not offer a free demo account, unlike most other brokers in the industry. This is likely because Firstrade positions itself more towards experienced and institutional traders who are more au fait with trading in general. However, this lack of a demo account can be seen as a significant drawback to new traders who may need to first test out the broker’s offering before deciding to sign up for a real account.
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money. If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
Demo Account Features
Firstrade does not offer a demo account to new traders. This means that traders will have to sign up for a live account and risk their own funds in order to test out the broker’s features. Traders can choose to close an account at any time.
| 🌐 Demo Account | Not currently offered |
Accounts from Firstrade offer various features that include the ability to monitor daily balance changes, a customizable interface, the ability to quickly access realized gains and losses, quick account history checks, and substantial account protection.
Firstrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Comprehensive live trading accounts | No demo account available |
| Well-regulated broker |
Firstrade Customer Reviews
Firstrade has a large selection of commodities
Firstrade has a large selection of commodities in its asset list. If you’re into commodities trade, this brokerage firm is a great choice! – Ben
Firstrade is good
I have used the broker for more than a year as an international customer, and almost never had issues. Very professional and a good broker. Did withdraw money 2 times without any issues, and did receive my money within 2 days. That’s better than my local broker. Highly recommend. -Hatta
Sign up for bonus shares
I enjoy the opportunity given by forex brokers to earn an income or gain rewards through sign-up bonuses, and great offerings with shares! – Dennis
Min Deposit
USD 0
Regulators
SEC, FINRA
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
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Conclusion
Overall, With proprietary trading technology, an intuitive user interface, customer service, and mobile applications, Firstrade offers a comprehensive solution for beginner and advanced traders. Firstrade is a member of FINRA/SIPC and one of the biggest discount US stockbrokers regulated by top-tier regulators.
It offers free stock, ETF, mutual funds, and options trading. It does not charge inactivity and account fees and there are a lot of quality research and educational tools you can use. A drawback is that it does not provide credit/debit cards and electronic wallets for transferring money. Traders can only trade on the US market.
Frequently Asked Questions
Can traders from South Africa open a Firstrade demo account?
Firstrade does not offer traders the option of a demo account.
Is Firstrade a good option for beginner traders?
Firstrade offers traders educational tools although no demo accounts are on offer, therefore can be seen as a good option for traders.
Is the Firstrade demo account the same as a real account?
Firstrade does not offer a demo account to traders.
For how long is the Firstrade demo account valid?
A demo account is not available from Firstrade. Traders will have to open a live account directly to assess the broker’s features and trading conditions.
How does Firstrade make money?
Firstrade makes money through interest generated on margin and credit balances.
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