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Anonymous
Wondering if anyone has tried either or both, please do share your experience with FirsTrade and TDA!
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Lin Yun Heng
08 Dec 2020
Senior Analyst at Delphi
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Jonathan Chia Guangrong
07 Dec 2020
SOC at Local FI
Have not tried Firstrade, so won't be able to comment on this platform.
For TD, I've been using it on and off for 7 years and quite a fair bit more recently since I'm trading the full market session now.
Really good platform, straightforward to use and I'd say it's beginner friendly for both desktop and mobile apps. Great charting tools as well and you can create your own charting scripts if you are inclined (or import someone else's).
Not sure about Firstrade, but TD does have an office here. So it may be easier to get hold of someone if you need support. Only issue now is the backlog of account applications since they revamped their fee structure in August.
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I have been an advocate of Firstrade for the entire year now. Can attest that it has the following:
Wire transfer via Stan Chart/DBS/POSB have $0 remittance fee charges, and will be in the Firstrade account in 1 day (or less)
FREE Morningstar Premium for ALL US Stocks/ETFs
Free Options Trading/Stocks Trading with no commissions fee
Sleek UI on their phone and tablet app, I was mindblown when I used it. Need to use them yourself you will be amazed.
Trade execution is almost 0 seconds. Again a mindblowing feature (makes SG brokers look like a joke/dinosaur)
Got option for you to opt for Margin account, which is where they earn their revenue. Use CASH ACCOUNT if you want to use everything for free.
Customer Service reply speed is extremely quick. Been using their service since March 2020.
I wrote an article here about Firstrade and you may want to find out more here
There is no other broker that even comes close. I can attest this myself because I personally tried both brokers you mentioned and found Firstrade to be the best for US stocks.
TD on the other hand, has a painful and long sign-up process which really disappoints me because it had so much potential. It took nearly 5 months to sign up even after completing the MAS knowledge quiz, and also the platform is pretty clunky and not suitable for most beginners, hence making Firstrade a much superior option.