When John Liu founded Firstrade in 1985, the brokerage landscape was starkly different from today’s digital-first, zero-commission environment. Back then, Liu saw a critical gap: “Financial services were often out of reach for many individuals,” he recalled. “I saw firsthand how high fees and a lack of investing education kept self-directed investors from building wealth in the markets.”
Celebrating over 40 years in business, Firstrade has grown from a small local brokerage into one of the top 10 retail brokerages in the U.S., as ranked by Fortune.
The company’s story began under the name First Flushing Securities, serving the investment needs of its Queens, New York community. Through steady, organic growth and an early recognition of the internet’s transformative potential, Firstrade became a pioneer in online trading by launching Firstrade.com in 1997, joining a select group of early online brokers.
From its origins as a small neighborhood firm, Firstrade’s mission was clear and ambitious, Liu said: “Provide accessible, affordable, and transparent brokerage services to everyone.”
However, launching a new firm in a space dominated by large, entrenched players came with its hurdles. “One of the earliest challenges was gaining trust,” Liu said. “As a new firm serving clients who had never invested before, and many of whom didn’t know where to start, it was critical to build credibility from day one.”
The competitive pressure pushed Firstrade to differentiate through “personalized service and low fees.” These early experiences shaped Liu’s leadership style, teaching him “the value of resilience, empathy, and long-term thinking.” Today, he emphasized leading “with those same principles, focusing on building trust, listening closely to clients’ needs, and never compromising on integrity.”
Innovation, Client Focus, and the Future of Investing
What stands out most to Liu as Firstrade’s greatest achievement is the generational trust they have cultivated. “We’ve had customers who opened their very first investment accounts with Firstrade decades ago, and now their children, and even grandchildren, are clients.” This continuity validates their mission to “serve investors with care, fairness, and innovation,” a mission that remains steadfast more than 40 years later.
In the late 1990s, Firstrade made a pivotal shift by embracing online trading early on. “We saw the internet’s potential to radically reduce the cost and friction of investing,” Liu explained. “For us, it wasn’t just about keeping up with technology, it was about expanding access.” Moving online allowed the firm to reach beyond its local roots and offer “lower commissions, faster execution, and more self-directed tools.” Liu acknowledged the transition was “a leap of faith,” but heavy investments in digital infrastructure and customer education paid off, enabling Firstrade to scale while staying true to its founding principles.
Firstrade’s innovations have consistently reflected its commitment to democratizing investing. Liu highlighted their pioneering move to offer “$0 commission trading across stocks, ETFs, options, and mutual funds, without hidden fees or gimmicks.” More recently, Firstrade introduced FirstradeGPT, “a first-of-its-kind AI investing assistant,” and partnered with industry leaders such as Trading Central and Optionsplay to provide “institutional-grade research on mobile and web trading platforms.” In addition, 24/7 customer support has been rolled out to meet the needs of a growing and diverse client base.
In a brokerage world transformed by fintech startups and shifting market expectations, Firstrade maintains its edge by “staying client-focused.” Liu contrasted this approach with competitors who chase “flashy features or aggressive growth tactics.” Instead, Firstrade emphasizes “delivering long-term value” through transparent pricing, robust tools, and reliable service. “Our independence allows us to move quickly and build features that serve our broad-range audiences without chasing trends,” Liu noted. This approach has helped Firstrade build a reputation as “one of the lowest-cost brokerages that clients can trust through changing market conditions.”
Younger investors bring different needs, and Firstrade is adapting accordingly. “We’ve embraced the shift by investing in mobile-first experiences, real-time insights, and AI-powered tools that younger investors expect,” Liu said. Yet, the company balances innovation with fundamentals: “We’ve also taken care not to lose sight of the basics, like education, reliability, and clarity.” The redesigned app aims to be “intuitive without being overly gamified,” supporting users from their “first trade to long-term portfolio building.” Liu underscored that today’s investors value “speed, autonomy, and financial empowerment,” and Firstrade is evolving to meet those expectations.
Staying by Investors’ Side
With the rise of overnight trading and extended market hours, Firstrade is positioned to be a constant partner for investors, he said. “We believe overnight investing expands access and inclusion by allowing investors to act on breaking news immediately,” Liu explained. Firstrade’s commitment is to be available “not just during Wall Street hours, but whenever opportunity strikes,” supported by new research tools and round-the-clock customer service. Their role, Liu said, is “to make sure investors are supported, informed, and empowered, regardless of when or where they trade.”
Artificial intelligence and automation are central to Firstrade’s future roadmap. “We’re actively integrating AI into our core experience, not just for automation but to truly enhance decision-making,” Liu shared. FirstradeGPT exemplifies this vision, combining natural language processing, market data, and investor education to provide “instant answers and actionable insights.” Behind the scenes, automation streamlines operations, reduces costs, and speeds up support. Liu believes AI will empower “both active traders and long-term investors to make smarter, more confident decisions.”
Drawing on decades of experience, Liu offered practical advice for fintech founders and financial leaders navigating a rapidly evolving industry: “Focus on trust and long-term relationships.” He warned against the pitfalls of chasing “growth metrics, viral features, or fundraising milestones” at the expense of user needs. “Users want to know you’re in it for them and not just for the hype cycle.” Transparency, attentive listening, and consistent delivery are key. “A sustainable fintech business is one that earns loyalty through every market cycle, every product update, and every customer interaction.”
