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Firstrade Unveils AI Investment Tool to Help Retail Traders Stay Competitive

Firstrade, an online trading firm, has launched ‘FirstradeGPT’ a new research and analysis AI tool for investors looking to make faster and more informed financial decisions. 

FirstradeGPT is an AI tool trained on in-depth data on global equities and business-specific KPIs, providing Firstrade clients with access to AI-driven insights, research, in-depth analysis, and data visualisation enabling them to streamline their investment research and find their trade ideas faster.

Firstrade has become the first US broker-dealer to partner with FinChat.io, offering investors institutional-quality data that’s been verified by human equity analysts.

FirstradeGPT delivers important financial insights for self-directed investors looking to research or find investment ideas and compete with the pros. Firstrade users can now access advanced algorithms that analyse financial data, offer in-depth investment insights, as well as market analysis including analyst estimates.

Don Montanaro, president of Firstrade discusses FirstradeGPT launch
Don Montanaro, president of Firstrade

“AI will rapidly transform the entire investing landscape, and we believe investors will continue to leverage these advancements in their daily trading activities,” explained Don Montanaro, president of Firstrade. “Our team is excited to lead this adoption curve and will commit to expanding our resources and tools in this arena to further enable our customers to make better, faster, and more informed trading decisions.

“Our launch of FirstradeGPT underscores our commitment to enhancing AI services for retail traders, and we will relentlessly focus on delivering impactful AI technology in the months ahead.

“This technology is still new, but institutional traders are making use of it, so we feel responsible to arm Firstrade’s self-directed retail traders with a competitive capability as early as possible, even as the tech continues to rapidly evolve.”

Improving financial insights

FirstradeGPT boasts a number of features, including ‘Segments’ and ‘KPIs’ to break down a company’s revenue and performance in ways not available elsewhere. This includes specific prompts to extract detailed information about business segments, key performance indicators, and historical data.

While it doesn’t offer direct investment advice, the tool generates analyst estimates for stock prices, revenue, EPS, and other financial metrics, helping investors with one data-deduced view of the future as they anticipate market trends and make their own strategic investing and trading decisions.

Firstrade also designed the offering with beginners in mind. Its ‘Related Questions’ feature suggests additional queries that users might not have considered, enhancing and speeding up the research and trading idea discovery experience for both new and experienced investors. Learning progresses conversationally and accelerates intuitively.

To make complex data easier to understand, FirstradeGPT displays simple charts and graphs, making it easier to identify trends and compare companies at a glance.

By offering FirstradeGPT, Firstrade hopes to improve the customer experience, offering a cutting-edge tool hosting more interactive, insightful and tailored financial discussions.

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