Introduction

Firstrade Securities.com is an online stock brokerage firm based in New York. They offer trading in U.S. stocks, ETFs, options, and related investment services. On the surface, they appear to have much of what you’d expect: licensing in many U.S. jurisdictions, membership in standard investor protection schemes, a public online presence, app access, and promotional claims of low or zero commissions in certain areas. But many users have raised serious concerns about how Firstrade handles withdrawals, customer service, transparency, and regulatory compliance. Below are the main issues and “red flags” grouped by theme, followed by a summary of weigh-ins.

Major Complaints & User-Reported Issues

1. Withdrawal Difficulties and Money Being Held Back

   A large number of user reviews complain that Firstrade delays, blocks, or refuses to process withdrawals. Users say that although they have “settled funds” or account balances, when they try to move money out to their bank, they hit roadblocks: requests for identity verification, banking documents, sometimes even three-way calls with their bank. In some cases, people report waiting weeks to a month or more before funds are released.

   The complaints often follow the pattern:

   • Deposit money → trade or hold securities → request withdrawal

   • Firstrade demands extra documentation (often beyond what was submitted already)

   • Funds remain “locked” or partially withheld, sometimes without clear explanation or timeline

   Multiple users on customer review sites and forums claim that Firstrade either makes it very hard or very slow for them to withdraw their own money.

2. Customer Service Problems

   The theme of “bad customer service” comes up repeatedly. Examples include:

   • Long response times to email or app messages

   • Phone agents who are unhelpful or inconsistent, sometimes giving generic or contradictory responses

   • Allegations that once there is a dispute (especially over withdrawals), the “back office” becomes difficult to reach or evasive

   One recurring pattern: before depositing, everything looks smooth; after deposit or when wanting a withdrawal, things become frustrating.

3. Regulatory & Licensing Confusion

   While Firstrade Securities.com claims they are licensed in all U.S. states and verifiable via U.S. broker-registries, some external regulators (in other countries) treat them as unlicensed for certain types of activities, especially if the platform is marketed abroad. There are reports of “unlicensed entities” in some jurisdictions referencing Firstrade Securities.com or platforms using a name similar to Firstrade Securities.com. Whether this is due to marketing or improper local compliance is not always clear, but such situations lead users (especially international ones) to doubt legitimacy.

4. Impersonation, Fake Sites, and Phishing Risks

   Firstrade Securities.com themselves issue alerts that impostors are using very similar domain names, fake apps, cloned websites, or social media accounts pretending to be Firstrade, often soliciting deposits or personal information. This means there’s a risk of phishing or falling victim to fraudulent clones, not necessarily malfeasance by Firstrade itself — but complicating trust. Users sometimes aren’t clear whether they’re dealing with the genuine Firstrade or an impersonator.

5. Regulator Fines & Violations

   There have been documented regulatory issues: for example, Firstrade was fined for violations related to how it handled communications about crypto assets — specifically, failing to clearly disclose when the assets were being offered via an affiliate (which was not itself registered) instead of via Firstrade directly. These types of failures to clearly label the nature of offerings raise concerns about transparency.

6. User Experience & Platform Stability

   Some complaints revolve around technical glitches, errors, and platform limitations. Examples include:

   • App or website outages or delays that can prevent trades or account access

   • Bugs in order display or order execution

   • Confusing user interfaces, particularly for less-common trades (OTC, options, etc.)

   • Slow processing of international wire transfers or high fees for non-U.S. bank transfers

7. Trust & Reputation

   On sites where users leave reviews (Trustpilot, BBB, forums like Reddit), Firstrade Securities.com ratings tend to be low, with many negative comments. Some users describe experiences suggesting they feel misled, treated unfairly, or left with limited recourse when problems arise. Again, many complaints focus on lack of transparency or slow resolution when funds are involved.

Contradictions & Mitigating Factors

To be fair, there are also statements from Firstrade and from some users that complicate a flat “scam” label. Here are factors in their defense:

• Firstrade Securities.com does provide certain regulatory disclosures, is a member of investor protection schemes (at least in the U.S.), and claims to have SIPC coverage. That means if you are using the real Firstrade, some protections are supposed to be in place.

• Some users praise their zero-commission trades, clean interface (for basic trades), and introductory simplicity — especially for those only investing in U.S. equities or ETFs, without complex options or cross-border dealings.

• In many disputes, Firstrade responds, offers to reverse certain fees, ask for additional documentation, etc., which suggests there is some functioning customer service (even if many find it unsatisfactory in speed or clarity).

• Some warnings of scams are from “impostor” domains, which means some of the worst experiences may stem from fraudsters pretending to be Firstrade, not Firstrade itself.

Key Red Flags to Watch Out For

For anyone considering using them (or any online brokerage), the following are major red flags based on user reports of Firstrade. If you see these, proceed with extreme caution.

• Requests for additional identity/bank documents beyond what you’ve already provided, especially after you’ve made deposits or trades and want to withdraw.

• Delays or cancellation of withdrawal requests without clear, immediate reasons.

• Customer service that cuts off communication or gives vague or inconsistent answers.

• Being asked to call third parties (banks, etc.) for verification in a way that seems unusual.

• Offers that seem too good (promises of high returns, low risk) especially from third-party apps or domains using the Firstrade name.

• Discrepancies in pricing, order execution, or user interface bugs that affect your transaction outcomes.

• Marketing or account opening via domains that are not clearly Firstrade.com, or mobile apps not from official app stores, etc.

What We Don’t Know / Unverified Claims

Before concluding anything definitive, here are some areas where claims are made but lack clarity or verification:

• Some reviews say “they outright stole my money,” but do not provide proof of fraud beyond disputes over fees, locked funds, or delays. Sometimes what a user calls “stealing” could be regulatory or compliance holds, though from the user perspective it feels the same.

• How many of the reported problems are due to Firstrade versus phishing or fraudulent clones. Because Firstrade has explicitly warned about impostors, there’s some chance some negative experiences are with fake sites.

• Whether all account holds, document requests, withdrawal delays are legitimate under regulatory rules (AML, KYC, bank verification, etc.), or whether they are used opportunistically to stall or restrict users.

• Some international users’ complaints are about service outside U.S. jurisdictions, which introduces other legal/regulatory complications.

Summing Up: Is Firstrade a Scam?

After reviewing both user complaints and Firstrade’s own disclosures, here’s what seems credible and what seems more uncertain:

So while there are many legitimate concerns, the evidence doesn’t currently support that everything Firstrade does is fraudulent in the criminal sense. It appears more accurate to describe it as a brokerage that many users believe to have serious trust, transparency, and service issues — which in some cases may border on what people would call “scam,” particularly when dealing with money they can’t access.

Conclusion: Report Firstrade Securities.com Ltd Scam to AZCANELIMITED.COM?

Based on all available data and warning signs, Firstrade Securities.com raises multiple red flags that strongly suggest it may be a scam. From its unregulated status to its anonymous ownership and unrealistic promises, this platform lacks the transparency and trustworthiness expected from a legitimate financial service provider.

REPORT THIS PLATFORM TO AZCANELIMITED.COM

If you’re thinking of investing through Firstrade Securities.com , extreme caution is advised.