To qualify for Firstrade’s 0.1 Second Execution Guarantee, the orders must meet the following criteria:
- Market orders to buy, sell, or buy-to-cover stocks listed in the S&P 500® Index.
- Share quantities of 100 to 500 shares on orders entered between 9:45 a.m. and 3:59 p.m. ET. If the market opens late or close early, these times will be modified accordingly.
- Orders entered through Firstrade.com or acceptable wireless (mobile) devices.
- Execution speed is calculated beginning when your order is accepted and routed by Firstrade and ending when Firstrade receives an execution report from the market center showing your order was filled or showing you received a partial fill.
- The S&P 500® list of securities qualifying for this guarantee will be reviewed and updated quarterly.
- Nothing in this program affects, alters or revises the terms and conditions of the Customer Agreement, and the sole remedy (recourse) for failure to meet the 0.1 Second Execution Guarantee is a free commission.
Certain order types are not included in the 0.1 Second Execution Guarantee:
- Qualifying orders do not include short sales; canceled or changed orders; orders entered within 20 seconds on the same security on the same side of the market; sell orders for stocks in which the account has a short option position; extended hours orders; buy orders for stocks trading under $1.
- Market orders are day only; orders with qualifiers or conditions such as Limit, Stop, Stop Limit, Market on Close (MOC), All or None (AON), Fill or Kill (FOK), Do Not Reduce (DNR) are not eligible.
- Orders entered during fast market conditions, communication outages or delays, when the stock is trading in a locked, crossed, or halted market, or orders stopped for price improvement are ineligible.
- Orders entered during communication or other system interruptions at Firstrade or the market center where the order was routed for execution do not qualify.