finops:
  model: Commission-Free Brokerage / Aggregator-Based API Access
  description: >-
    Firstrade operates a zero-commission brokerage model — there are no trading
    fees for stocks, ETFs, options, or most mutual funds. Firstrade does not
    offer a paid developer API tier or a direct-access data subscription.
    Programmatic account data access is available only through Plaid, which
    has its own separate developer pricing. Firstrade generates revenue through
    payment for order flow, margin interest, securities lending, and ancillary
    service fees.
  costStructure:
    - tier: Stock and ETF Trades
      cost: $0 per trade
      conditions: Self-directed orders placed through web or mobile platforms.
    - tier: Options Trades
      cost: $0 commission, $0 per contract
      conditions: Self-directed options orders. Regulatory fees still apply.
    - tier: Mutual Funds
      cost: $0 (load and no-load NTF funds)
      conditions: >-
        Free for NTF (no transaction fee) funds. Redemptions of mutual fund
        shares held less than 90 days incur a $19.95 short-term redemption fee.
        Redemptions under $500 face a $19.95 fee unless the fund total is below $500.
    - tier: Broker-Assisted Orders
      cost: $19.95 per order (stocks/ETFs); $19.95 + $0.50/contract (options)
      conditions: Orders placed with the assistance of a Firstrade broker representative.
    - tier: Primary Market CDs
      cost: $30 per transaction
      conditions: New-issue certificates of deposit purchased in the primary market.
    - tier: SEC Transaction Fee
      cost: $0.00002060 per dollar ($20.60 per million dollars)
      conditions: Applied to eligible sell transactions as of April 6, 2026.
    - tier: Options Regulatory Fee (ORF)
      cost: $0.02375 per contract
      conditions: Aggregate ORF rate as of January 2, 2026. Applied to option trades.
    - tier: Domestic Wire Transfer (Withdrawal)
      cost: $25 per withdrawal
      conditions: Outbound wire transfers. ACH withdrawals are free.
    - tier: Full Account Transfer Out (ACAT)
      cost: $75
      conditions: Full outgoing ACAT transfer to another brokerage.
    - tier: Short Borrow Fee
      cost: Variable
      conditions: Rate depends on market supply and demand for the borrowed security.
    - tier: API Access via Plaid
      cost: Governed by Plaid's pricing (separate from Firstrade)
      conditions: >-
        Firstrade itself does not charge for API access. Developers must sign up
        with Plaid and pay per Plaid's Launch, Scale, or Enterprise plan tiers to
        access Firstrade account data programmatically.
  notes: >-
    Firstrade does not publish a formal API monetization strategy or developer
    pricing page. All fees above are brokerage service fees for end-customers,
    not API consumption fees. For institutional or high-volume data access,
    contact Firstrade at 1-800-869-8800.
  url: https://www.firstrade.com/trading/pricing