Firstrade has just announced that they will cover up to $25 of wire transfer fees. All you need to do is to wire transfer of $10,000 or more. If you experience any wire transfer fees, you will be eligible for a rebate of $25.
Customers can claim this offer up to three times a month, with each up to $25 per transaction. This results in up to $75 savings when funding up your Firstrade account. All you need to do, in case you were charged wire transfer fees, is to apply through their website within 30 days of the transfer. Firstrade credit rebates to your account.
If you have not heard of Firstrade before, they have an interesting offering:
- Commission-free trading of stocks, ETFs, options, and mutual funds
- Fixed-income products like bonds
- Automatic dividends reinvesting in a variety of stocks and ETFs, including ADR stocks and bonds ETFs
- Access to free authoritative research reports such as Morningstar
- When your assets reach $25,000, you may be eligible for a Cash Management Account and receive a VISA Debit card that you can use for withdrawals and purchases around the world
- Two-factor authentication (2FA)
- Even when you live outside of North America (especially in Europe), this is one of only a few brokers that provide access to American ETFs
Is Firstrade rebate for wire transfer fees worth it?
You need to wire transfer at least $10,000 to be eligible for up to a $25 rebate. It means that it is 0.25% of the sent money. Of course, it is far from ideal to be at a loss of 0.25% before even investing. However, it should not be your only motivation. You need to invest bigger sums to be eligible and be affected by wire transfer fees to make any use of this Firstrade offering. All in all wire Transfers are the fastest and most secure method for transferring funds to Firstrade and are immediately available for trading upon receipt.