Investing Simple Logo
Get Started on Robinhood With 1 Free Stock!
Robinhood is offering new users 1 free stock worth between $3 and $225 when you open an account and fund it with any amount of money.
Written by Cari Scribner on May 3, 2021
FTC Disclosure

How To Close Your Firstrade Account

Firstrade is a solid online investing broker offering zero commissions on stocks, ETFs, options and mutual funds. There are no minimum deposits or any other hidden fees. Designers built Firstrade for beginning investors looking for an easy-to-navigate app.

Firstrade has free options contracts with zero assignment fees for options trades. The platform doesn’t charge trading fees on any of the thousands of mutual funds it offers. It is also available to international traders.

firstrade platform for option traders

In a 2020 review on, Firstrade earned 5 stars for ease of use.  If you have questions and need immediate answers, the platform has licensed customer service reps ready to help via phone, live chat, or email.

Although it is a good platform, the time may come when you want to do something else with your cash, which means you will need to close your Firstrade account. You have a few options for doing this. They are all simple and convenient.

How To Close Your Firstrade Account

The first step in closing your account is to empty out your balance. You can withdraw funds by going to Accounts>Deposit/Transfer, and enter a check, ACH transfer or wire transfer request.

Once your account balance is at $0, choose from one of the following options:

  • Contact the broker and request that your account be closed. A representative can be reached over the phone Monday through Friday from 8:00 am to 6:00 pm, EST, at 1-800-869-8800.
  • Send an email to [email protected]  requesting they close your account.
  • Fax your request to (718) 961-3919.
  • Put your request in the mail to Firstrade Securities Inc., 30-50 Whitestone Expwy. Suite A301 Flushing, NY.

Transferring Account To Another Broker

Firstrade's website has a form for transferring an account from another broker. However, if you want to transfer a Firstrade account to another firm like Robinhood or M1 finance, you will need to contact that broker and start the move with them.


There are certain circumstances that will call for closing your Firstrade account, and you can do this by calling the broker, emailing, faxing or sending a letter in the mail. You could also move your money to another online investing platform. This option may be wiser than taking it out to use as cash or putting it into a traditional bank where interest may be minimal.

Best Free Stock Promotions

Robinhood Logo1 Free Stock (Up To $225)Download
Webull Logo2 Free Stocks (Up To $1,850)Download
Firstrade trading platform2 Free Stocks (Up To $400)Download
M1 Finance Robo AdvisorGet $30 When You Deposit $1,000Download
Acorns LogoFree $10 BonusDownload
SoFi Robo Advisor1 Free Stock Up To $1,000Download

Firstrade featured image
Article written by Cari Scribner
Cari Scribner is a career journalist with 20 year’s experience writing for newspapers and magazines. Now a freelance writer, she is also a published fiction writer with more than 15 short stories in literary mags. She recently completed a novel that is on the desk for consideration at two publishing houses. She lives with her two small dogs, Miloh and Lucy, in Upstate NY.

Platform Reviews

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
© Copyright 2018 - 2020 Investing Simple LLC. All Rights Reserved. Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Developed by Stallion Cognitive
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
Copy link
Powered by Social Snap