Firstrade Promo Code for 2022

Firstrade 2 free stocks promotion to open new account and 1 free stock friend referral bonus program.

Firstrade Promo Code

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Firstrade Promo Code Details

To draw in new clients, Firstrade is running a “Join now, get two free stocks” promo. This type of promotion is common among discount brokers, e.g. Robinhood and moomoo also offer free stock(s) to attract new customers.

It promises the possibility of owning shares such as Apple, Boeing, Advanced Micro Devices (AMD), and more. The current promo period runs through August 31, 2022, but it’s likely that they extend it.

The promotion has two components:

- First, you’ll receive one free stock for simply opening an account

- Second, you’ll receive an additional free stock for making a deposit or transfer of $100 or more within 30 days of account approval

But what exactly does “free stock” mean? Well, we read the fine print, so you don’t have to.

Firstrade Promotion code

Firstrade claims that the stocks are “selected randomly and determined by an algorithm,” and that the value can range from $3 and $200. The stocks are determined based on the most popular stocks traded on Firstrade, i.e. according to the prior quarter’s trading volume.

Your chances of getting two free stocks is 100%, or guaranteed, if you open an account and make a deposit of $100 or more within 30 days of account approval.

Your chances that the stock you receive is Apple, Boeing, or AMD is a mere 1%, on the other hand, so don’t hold your breath.

Firstrade Friend Referral Program

Firstrade’s friend referral program operates under similar principles as the account opening promotion, in that the stocks are selected in the same fashion and you have the same odds of getting one of the three aforementioned stocks.

Firstrade Friend Referral

How the program works is a simple three-step process:

- First, refer friends by logging into your account and going to “Customer Service” then “Free Stocks” to find your referral link.

- Second, simply share this with any friends or family you wish.

- Third, receive your free stock each time a friend opens a Firstrade account (on the condition their application receives approval).

You can also check the status of your referrals to see how many of your friends end up signing up. It’s also possible to do all of this from the mobile app. Simply tap the account icon, then tap “Get free stocks” and follow the same instructions as above.

Investors should also know that every account can only have up to $500 in stocks, so there is an upside to how much free stock you can collect. For the friend referral program, though, your friends will still get a free stock even though you won’t once you’ve surpassed the threshold.

Other Firstrade Promotions/Rewards

Firstrade also offers fee rebates for account transfers and wire transfers.

1. They offer up to $200 in transfer fee rebates when you switch from another broker
2. They offer a $25 transfer fee rebate when you wire funds from your bank

Firstrade 2 Free Stocks

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Overview of Firstrade

Firstrade is far from one of the most popular broker dealers out there. Nonetheless, it’s been operating as a low-cost broker for more than thirty-five years! Perhaps due to its low advertising budget, this no-frills broker offers solid value compared to many other discount brokers around.

Firstrade has been approved by the SEC since 1985 and is registered with FINRA (Long Island District, CRD# 16843).

As part of the competitive online discount brokerage market, Firstrade is one of many broker-dealers to offer incentives to attract new clientele. This article will discuss their two main promotions.

Firstrade Pros and Cons

But is Firstrade a good broker-dealer? Overall, the answer is yes. Apart from their frequent promotions, Firstrade offers numerous advantages to investors, including the following:

- Free stock, ETF, and options trading
- $0 contract fee for options trades
- All mutual funds offered are commission free
- Chinese language options
- On the downside, Firstrade has some limitations, such as
- Limited product offerings (no forex, futures, or crypto)
- Limited customer support (no 24/7 customer support)

Firstrade Free Stocks Wrapping Up

Competition is so strong among broker-dealers that many are giving away perks such as free stocks or other incentives. If you’re looking to set up a new account, it makes sense to consider taking advantage of these types of bonuses.

Overall, Firstrade has decent promotions that may persuade you to set up an account with them. In any case, they’re an established broker-dealer and a solid choice for people looking for commission-free trading.