Opening a Firstrade Account from Taiwan: Documents, W-8BEN, Approval Time and Your First Deposit

Taiwan residents can open an international account with Firstrade. According to Firstrade, Taiwan is on the list of 27 countries and regions eligible for international accounts, provided you are not a U.S. citizen or permanent resident and do not have a U.S. Social Security number or tax ID. I use Firstrade myself: I moved my employer’s RSU shares into it earlier and wrote up the process in “Transferring RSU shares to Firstrade.”

The short answer, based on Firstrade’s official pages as checked on 23 October 2026: opening a Firstrade account is done entirely online. You need a valid passport (photo page and signature page), you complete the W-8BEN and enter your foreign tax identification number (FTIN) during the application, approval takes 1 to 2 business days after you submit, and there is no minimum deposit. Once the account is open, you fund it with a USD wire from a bank in Taiwan. The sender’s name must match the account name exactly, and the wire memo must include your 8-digit account number and full name in English. Firstrade charges nothing for incoming wires but does not accept money sent through online transfer services such as Wise.

This post is based on Firstrade’s official pages as checked on 23 October 2026. Account requirements, fees and procedures may change, so check Firstrade’s current information before applying. This post is general information only. It is not investment, tax or legal advice, and it does not recommend any particular broker or stock.

Can Taiwan residents open a Firstrade international account?

Yes. Firstrade’s help article “What information do I need to apply for an international account” lists the requirements:

• Status: not a U.S. citizen or permanent resident, with no Social Security number (SSN) or U.S. tax ID.
• Residence: you must live in one of the 27 countries and regions Firstrade accepts. Taiwan is on the list, as are Hong Kong, Japan, Singapore and the UK, among others.
• Account type: international clients can only open individual accounts, not joint accounts (account types available).
• Minimum deposit: international accounts have no minimum deposit requirement, but you need available funds in the account before placing an order (minimum balance).

Firstrade’s Chinese international account page also says it offers Mandarin and Cantonese customer service, and the trading platform has a Traditional Chinese version. For how Firstrade compares with IBKR and Schwab International on requirements and fees, see “Firstrade vs IBKR vs Schwab International.”

Documents you need to open a Firstrade account

Sources: information needed for an international account, can other ID replace a passport, ID requirements, where to find your FTIN.

No passport, or an expired one

Firstrade puts it plainly: an international account requires a copy of a valid passport, and no other ID can replace it. If your passport is about to expire or already has, renew it before you apply.

When you need proof of address

Only when your mailing address and permanent residential address are in different countries. Firstrade’s Chinese help article says “not in the same country,” while the English version says the mailing and permanent addresses are “different.” Firstrade does not list which documents it accepts as proof of address. If your two addresses differ, you can ask customer service before applying.

How to open a Firstrade account: the online application

Firstrade’s Chinese website splits opening an international account into two steps: complete the online application, then fund the account. The online application goes roughly like this:

1. Go to the international account application: on Firstrade’s account opening page, click the link for non-U.S. citizens and non-U.S. permanent residents to reach the international application, then choose a language (Traditional Chinese is available).

2. Verify your email or phone: the application lets you receive a verification code by email or text message. Enter it to continue.

3. Fill in your personal and tax information: complete the form with your personal details, residential address, foreign tax identification number (FTIN) and so on.

4. Upload photos of your passport: Firstrade says you upload photos of a valid passport during the application, including the photo page and signature page, and the photos must be clear.

5. Complete the W-8BEN and sign the account documents: the application documents for a Firstrade international account include the W-8BEN, which you complete as part of the online application before submitting it.

6. Wait for approval: Firstrade’s Chinese international account page says no paper documents are needed after you submit the application online, and approval takes 1 to 2 business days.

The Chinese-language support channels listed at the bottom of the application page are the overseas line 1-718-888-2158 and Chinese@firstrade.com (checked 23 October 2026).

W-8BEN and your foreign tax identification number (FTIN)

The W-8BEN is an IRS form that non-U.S. persons use to certify to a broker that they are not U.S. persons (IRS). The application documents for a Firstrade international account include the W-8BEN, so you complete it when you open the account.

Firstrade’s help article “What do I need to know about the W-8 BEN form” covers a few key points:

• Validity: a W-8BEN without a U.S. tax ID is valid from the signing date until the last day of the third calendar year, usually about three years. It becomes invalid when your information changes and the form is no longer correct.
• Reminder before expiry: when it is about to expire, Firstrade sends an email asking you to resubmit, and you can also check its status in your account settings.
• If it expires: 30% is withheld from dividends and interest, 24% backup withholding is applied to the gross proceeds of securities sales, and the account’s trading privileges are restricted (what happens when the W-8 BEN expires). Firstrade says the broker cannot reverse or refund backup withholding; you have to claim it from the IRS yourself (do I need to file a U.S. income tax return).
• How to update it: on the website, go to My Account → Profile → Account Status and choose to update; in the app, go to Me → Account Settings → W8ben. Online updates are usually processed within 2 to 3 business days (how to update your W-8BEN).

The FTIN is a required field for international accounts. Firstrade says most countries and regions use the number on your national ID card (where to find your FTIN), and a missing FTIN is one of the reasons an account gets stuck in pending.

Even with a W-8BEN on file, Taiwan residents still have 30% withheld from U.S. stock dividends. For why, and for the exempt portion of bond ETF dividends, see “30% U.S. dividend withholding tax.” Non-U.S. persons receive Form 1042-S as their tax form, which Firstrade says is usually issued by 15 March (W-8BEN and 1042-S).

How long approval takes, and what to do if the account stays pending

Firstrade’s Chinese international account page says approval takes 1 to 2 business days after you submit the application online; the English page also says 1 to 2 business days.

If the account keeps showing as pending, Firstrade lists three common reasons (why does my international account still show pending):

1. The passport signature page is missing.
2. The passport photo is unclear and needs to be retaken.
3. The FTIN was not filled in.

You can check all three before you submit.

Your first deposit: wiring money from Taiwan to Firstrade

Taiwan bank accounts cannot use ACH

ACH is a free U.S. bank transfer, but it requires a 9-digit U.S. bank routing number (ABA). Firstrade says most banks outside the U.S. do not have this number, so they cannot set up ACH, and it recommends a wire transfer instead; only people with a U.S. bank account can use ACH (can I set up ACH with a bank in my country). In practice, funding from Taiwan means sending a USD wire at your bank’s branch or through online banking.

Wire details and rules

Firstrade’s help article “Wiring funds from an overseas financial institution” lists the wire details: the receiving bank is BMO Bank N.A. (SWIFT: HATRUS44), the beneficiary is Apex Clearing Corporation, and the beneficiary account number and address are as shown on the official page. Before you send the wire:

• Convert to USD first: Firstrade strongly recommends converting your local currency to USD before wiring.
• Wire memo: write “For Further Credit to: Firstrade” followed by your 8-digit Firstrade account number and the account’s full name in English.
• Matching names: the sender’s name must match the Firstrade account name exactly; third-party wires are not accepted.
• No online transfer services: money sent through Wise, Revolut, PayPal, Western Union, Remitly’s Passbook, CurrencyFair and similar services is not accepted.
• Fees: Firstrade charges nothing for incoming wires, but the sending bank and intermediary banks may charge fees, so the amount that arrives may be less than what you sent (wire fees).

How long it takes to arrive

Firstrade says funds are available as soon as they are received. As for timing, the Chinese international account page says wires take 1 to 2 business days, while another help article says international wires usually arrive within 1 to 3 business days (ACH and wire processing times).

For what Taiwan banks charge to wire money to a U.S. broker, intermediary bank deductions and how much to send at once to make it worthwhile, see “The real cost of wiring money from Taiwan to a U.S. broker.”

Firstrade’s new-account bonus

If you are about to open a Firstrade account: this bonus is only for new accounts opened through a referral link, and both cash you deposit and assets you transfer in after opening count toward the thresholds below. Firstrade’s refer-a-friend program gives new clients an account-opening bonus: open a new account through a referral link and fund it with cash or transferred-in assets within 30 days of approval, with a net deposit of at least US$10,000. The bonus depends on the amount:

• Paid after a year: after 30 days the projected amount appears on the rewards dashboard; it is credited only after the net deposit stays at US$10,000 or more for one year, and withdrawals during that year may reduce it or cancel it.
• Who cannot take part: residents of mainland China, Hong Kong, Macau, Spain, Portugal, Japan, Denmark, Israel and Poland; tax-advantaged accounts and entity accounts are also excluded.
• Combines with fee rebates: if you fund by wire or ACATS, Firstrade’s wire fee rebate (up to US$25) and transfer fee rebate (up to US$250) apply separately.

(Firstrade refer-a-friend page and terms, checked 28 October 2026)

To open an account: open a Firstrade account through the referral link.

Fees, withdrawals and transferring shares in after you open the account

For how Firstrade compares with IBKR and Schwab on interest, withdrawals and product range, see “Firstrade vs IBKR vs Schwab International.”

Withdrawing to Taiwan

Firstrade recommends that international accounts withdraw by wire, at US$25 per wire (international account withdrawals). Firstrade says outgoing wire requests submitted before 12 p.m. U.S. Eastern Time usually reach the receiving bank the same day, and those submitted later are processed the next business day (ACH and wire processing times). Taiwan banks also charge a fee to receive incoming USD wires; for the total cost including intermediary banks and currency conversion, see “The cost of withdrawing from an overseas broker to Taiwan.”

Transferring in RSUs or shares from another broker

If you would rather not wire money, you can transfer shares straight into Firstrade. To move shares from an employer stock plan account, you request a DTC transfer on the sending side and enter the receiving details Firstrade provides (transferring assets from a stock plan account). My full steps and timeline for moving Google RSUs from Morgan Stanley to Firstrade are in “Transferring RSU shares to Firstrade.”

Also worth knowing before you open: inheritance and U.S. estate tax

U.S. brokers commonly use TOD (Transfer on Death) so account holders can name beneficiaries in advance, but Firstrade’s TOD form only says it is not available to residents of every region; it does not say whether non-U.S. residents can. If you cannot use it, your family will have to go through probate to receive the assets after the account holder dies, and if the U.S.-situs assets exceed US$60,000, they will also have to deal with U.S. estate tax.

For how the threshold works and which documents your family will need, see “The US$60,000 U.S. estate tax threshold explained.”