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Reflecting on my experience and rigorous due diligence as a trader, there are several notable risks and drawbacks I urge others to consider before trading with Firstrade. The most significant concern for me is the complete lack of regulation by any major financial authority. Although the company is based in the United States, Firstrade does not hold valid licenses from important bodies like the SEC or FINRA. This absence of regulatory oversight means there is limited recourse if any issues arise with account safety, fair business practices, or withdrawal of funds; this alone sets off serious alarm bells in my risk management approach. Additionally, Firstrade’s product range is fairly restrictive—they only offer access to U.S. stocks, ETFs, options, and mutual funds. There is no forex, no commodities, no cryptocurrencies, and the platform is essentially irrelevant for those seeking a global trading experience or diversification into asset classes outside the U.S. market. Another concern is the lack of a demo account, which is a setback for those wanting to test drive the platform before putting real capital at risk. While commission-free trades and low fees are attractive, in my experience, the security of my funds and the transparency of business practices must always take precedence. Furthermore, I noticed reports of serious withdrawal issues, and allegations of questionable withdrawal practices surfaced in user feedback. Even with some positive reviews, such warnings persuade me to be exceptionally cautious. For those considering Firstrade, I recommend exercising the highest degree of skepticism, principally due to the combination of unregulated status and user-reported problems. I believe it is wise to consider more established, fully regulated alternatives if long-term safety and reliability are your priority.