The default accounting method for all sell orders is FIFO (“First-In, First-Out”) This means that Firstrade will match the oldest lot (or first purchased lot) to the sell order when determining gain/loss for that sale. This includes orders that are partially filled and orders that do not include the entire position.
To change the default method to LIFO (“Last-In, First-Out”) for all future sell orders, please email us your request. The change typically takes effect after 1 business day.
Please be aware that when LIFO is the default method, the trade will appear as FIFO on the trade day but will correctly display on the following business day.