Experiences - Firstrade Referral Credits for Five Free Trades

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

If you need a referral to earn 5 commission free trades at firstrade, you may send an email with your FIRST and LAST NAME plus email id to firegetters@gmail.com [firegetters at gmail dot com]. We'll send you a referral.

We have a post on the referral program from Firstrade Brokerage. Fortunately our readers have requested quite a few Firstrade referrals from us. In that light, we would like to share our experience about the referral program.

In Feb 2006, after spending considerable time in research for finding a suitable broker, we found that Firstrade fitted our bill quite well. We shall post a detailed article on how we researched for our online brokerage firm later. Consequently, we opened a brokerage account with Firstrade through a referral. After opening and funding our brokerage account, we emailed Firstrade's customer service regarding our free trades. They requested us to send them the email id (used by our referrer wrt his / her Firstrade brokerage a/c) and name of our referrer. Firstrade verifies each promotion or referral manually, there is no automated system of referral verification ! After providing the requisite information, we received an email from their customer service (within 2-3 business days) notifying us that the referral was valid and we were entitled to five free trades within a period of one month of opening our account with a minimum initial deposit of $1000.

However it is to be noted that regular commission is charged at the time of the trade, but Firstrade promises to give us a credit for the eligible trades within eight weeks. We hope to get our credit of $6.95 * 5 = $34.75 by the end of June this year. Hopefully this credit process is automated and will spare us the effort of emailing their customer service for crediting the above money to our brokerage account ! So far we have been extremely pleased with Firstrade's service regarding our brokerage transactions and zero dollar transaction fees for no-load mutual funds. It is to be noted that they have more than 9000 mutual funds to choose from!

Related Posts