Does Firstrade charge for OTC trades?

No. Firstrade charges $0 on OTC trades — including OTCQX, OTCQB, Pink Current, and Pink Limited tiers. Restrictions: limit orders only, $0.10 minimum price, and no OTC transfers in.

Does Firstrade have 24-hour trading?

Yes. Firstrade launched 24-hour trading on April 7, 2025, covering approximately 1,200 stocks and ETFs via the Blue Ocean ATS. Limit orders only.

Does Firstrade offer futures?

No. Firstrade does not offer futures or futures options. For futures, look at Interactive Brokers, TradeStation, Schwab (thinkorswim), or Webull.

How big is the Firstrade mutual fund selection?

11,000+ mutual funds, all commission-free. The catalog is competitive with Fidelity's NTF roster, though Fidelity is unique in offering zero-expense-ratio index funds.

Firstrade review

4.0 / 5

Last reviewed May 13, 2026

Visit Firstrade

Best for OTC and penny-stock buyers who want $0 commissions, plus mainstream mutual-fund and 24/5 access. Smaller platform and research footprint than the big four, but the price floor is uncontested.

$0 OTC commission
$0 options
11,000+ mutual funds
1,200+ 24/5 stocks
38+ crypto coins

At a glance

Founded: 1985
Minimum deposit: $0
Regulators: SEC · FINRA · SIPC

Strengths and weaknesses

Strengths

$0 commissions on stocks, ETFs, options — including OTC and penny stocks
Full OTC tier access: OTCQX, OTCQB, Pink Current, Pink Limited
1,200+ stocks and ETFs eligible for 24-hour trading (launched April 2025)
11,000+ mutual funds — commission-free buying
38+ crypto coins via Firstrade Crypto
FirstradeGPT (FinChat) AI assistant integrated
Fractional shares from $5 minimum across ~4,000 tickers
IRA accounts with $0 fees
Customer service offered in multiple Asian languages

Weaknesses

No futures or forex
Smaller broker — limited brand recognition and research budget vs. full-service incumbents
Margin rate 12.75% on debits under $25K
No fractional on transfers in — OTC names cannot be transferred in
OTC orders limit-only with $0.10 minimum price requirement
Platform is functional but less polished than thinkorswim or Power E*TRADE
Customer service phone hours during US business hours only

Best for

Sub-ratings

Commissions & fees: 5.0
Platforms & tools: 3.5
Mobile app: 4.0
Research: 3.5
Education: 3.5
Customer service: 3.6
Range of investments: 3.8
Active trading: 3.6

Pricing & fees

Full fee schedule

Category	Item	Price	Notes
Stocks & ETFs	US stock / ETF commission	$0	—
Stocks & ETFs	OTC commission	$0	Best-in-class pricing; some order-type and minimum-price restrictions
Options	Options base + per-contract	$0 + $0	—
Mutual funds	Mutual funds	$0	11,000+ funds commission-free
Crypto	Crypto trading	Commission-free; spread varies	38+ coins via Firstrade Crypto
Margin	Margin rate (< $25K)	12.75%	—
Cash sweep	Cash sweep APY	~3.50%	—
Account & service fees	Outbound ACAT	$75	—

PFOF: Accepts payment for order flow on equities; accepts PFOF on options.

Margin rates vs. peers

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

Cash sweep

Default cash sweep

3.50%(Firstrade cash sweep)

As of May 13, 2026

Asset coverage

US stocks
Yes
OTC / Pink Sheets / OTCQX / OTCQB
$0 commission; limit orders only; $0.10 minimum price; no transfers in
Yes
Fractional shares
From $5 minimum; ~4,000 tickers
Yes
Options
$0 base + $0 per contract
Yes
Mutual funds
11,000+ commission-free
Yes
ETFs
Yes
US Treasuries
Yes
Corporate / muni bonds
Yes
Forex
No
Futures
No
Crypto (direct)
38+ coins via Firstrade Crypto
Yes
International stocks (US app)
No
Pre-market trading
Yes
After-hours trading
Yes
24-hour overnight equity trading
1,200+ symbols via Blue Ocean ATS (launched April 2025)
Yes

Platforms & tools

Platform deep-dive

Web
Firstrade WebTrader
- Browser-based trading and account management
- FirstradeGPT (FinChat) AI assistant
- Integrated mutual fund and ETF screeners
Desktop
Firstrade Navigator
- Active trader platform
- Charting with technical studies
- Multi-leg options
Mobile
Firstrade Mobile
- Full options chain
- Mobile check deposit
- Mutual fund trading

Key capabilities at a glance

Commission: $0
Fractional shares: Yes
~4,000+ tickers, ≥ $5
Extended hours: Yes
Overnight (24/5): Yes
~1,200 eligible · Launched April 7, 2025; ~1,200 stocks/ETFs
Options: $0
OTC access: 4/5 full, 1/5 limited
Short locate: limited

OTC market access by tier

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Firstrade’s coverage:

OTCQXFull
OTCQBFull
Pink CurrentFull
Pink LimitedFull
Grey MarketLimited

Awards & recognition

2026 Best for OTC Trading — StockBrokers.com

Recent changes

Apr 7, 2025product
24-hour trading launched on ~1,200 stocks and ETFs
2025product
FirstradeGPT (FinChat) AI assistant rolled out

Frequently asked

Does Firstrade charge for OTC trades?: No. Firstrade charges $0 on OTC trades — including OTCQX, OTCQB, Pink Current, and Pink Limited tiers. Restrictions: limit orders only, $0.10 minimum price, and no OTC transfers in.
Does Firstrade have 24-hour trading?: Yes. Firstrade launched 24-hour trading on April 7, 2025, covering approximately 1,200 stocks and ETFs via the Blue Ocean ATS. Limit orders only.
Does Firstrade offer futures?: No. Firstrade does not offer futures or futures options. For futures, look at Interactive Brokers, TradeStation, Schwab (thinkorswim), or Webull.
How big is the Firstrade mutual fund selection?: 11,000+ mutual funds, all commission-free. The catalog is competitive with Fidelity's NTF roster, though Fidelity is unique in offering zero-expense-ratio index funds.