The best alternatives to Firstrade are
- Fidelity - US stockbroker
- E-Trade - US stockbroker
- Charles Schwab - US discount broker
- Ally Invest - US stockbroker
Let's see in a bit more detail how the Firstrade alternatives compare to Firstrade and each other:
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| Overall score | 4.5 | 4.9 | 4.8 | 4.8 | 4.6 |
| Fees score | 5.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| Account opening score | 4.0 | 3.0 | 4.0 | 5.0 | 4.0 |
| Deposit and withdrawal score | 2.0 | 4.0 | 2.0 | 2.0 | 2.0 |
| Web platform score | 4.0 | 5.0 | 4.0 | 4.0 | 4.0 |
| Markets and products score | 3.0 | 4.0 | 3.0 | 3.0 | 3.0 |
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Firstrade? There are many areas based on which Firstrade can be compared with others. When we say a given online broker is a good alternative to Firstrade we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Firstrade alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Firstrade is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
- Fidelity is recommended for investors and traders looking for solid research and great trading platforms
- E-Trade is recommended for investors and traders looking for solid research and a great mobile trading platform
- Charles Schwab is recommended for investors and traders looking for solid research, low fees and great customer service
- Ally Invest is recommended for investors and traders looking for low fees and focusing on the us market
Important factors of finding Firstrade alternatives
So far Brokerchooser has reviewed 57 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Firstrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Firstrade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Firstrade alternative.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Firstrade, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Firstrade alternative is a must.
Now let's dive into the details of how Firstrade and its alternatives perform in the most important areas!
Firstrade alternatives
Firstrade
Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name of First Flushing Securities.
Firstrade is considered safe because it has a long track record and is regulated by top-tier regulators.
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| Pros | Cons |
|---|---|
| • Free stock, ETF, fund, and options trading | • No credit/debit cards and electronic wallets for money transfer |
| • Solid research tools | • You can trade only on US markets |
| • Quality educational tools | • No live chat and 24/7 availability |
Fees
Firstrade has low fees. It offers free stock, ETF, funds, and options trading. The non-trading fees are low too. However, the margin rates are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High margin rates |
| • Low non-trading fees | |
| • Free stock, ETF, fund and options trading |
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| UK stock | - | $10.8 | - | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
The account opening is fully digital and user-friendly. Firstrade is available for US and some non-US customers. On the flip side during the test we experienced a slower account opening, that took almost 3 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow account verification |
| • No minimum deposit | |
| • Low minimum deposit |
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $500 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1-3 days |
Learn more about Firstrade minimum deposit here.
Deposit and withdrawal
We liked a lot Firstrade's user-friendly deposit and withdrawal process. There is no deposit fee and transferring money is easy. At the same time, there is still room for improvement. You can use only bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High outgoing wire transfer fee |
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
During our testing, we found Firstrade's web platform is simple and easy to use. If you are a beginner, then you can easily navigate it. On the negative side, it lacks a two-step login and the customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| Web platform score | 4.0 | 5.0 | 4.0 | 4.0 | 4.0 |
| Mobile platform score | 3.0 | 5.0 | 5.0 | 4.0 | 3.0 |
| Desktop platform score | - | 4.0 | - | 4.0 | - |
Learn more about Firstrade's web trading platform in the detailed Firstrade review.
Markets and products
Firstrade offers a good variety of asset classes, from stocks to options. However, the offered products cover only the US market and you cannot trade with futures or forex.
| Firstrade | Fidelity | E-Trade | Charles Schwab | Ally Invest | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | No | No | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | No | Yes | Yes | No |
| CFD | No | No | No | No | No |
| Crypto | No | No | No | No | No |
Verdict
Firstrade is one of the biggest discount US stockbrokers regulated by top-tier regulators.
It offers free stock, ETF, mutual funds, and options trading. It doesn't charge inactivity and account fees and there are a lot of quality research and educational tools you can use.
To provide an unbiased picture we have to mention some drawbacks though. Firstrade doesn't provide credit/debit cards and electronic wallets for transferring money. Are you interested only in U.S. market products? If yes, then you will be delighted. Otherwise, you might find insufficient that the product portfolio covers only the US market. The customer service is only 24/5 and you can't contact them via live chat.
As there are low fees and no inactivity fee is charged, feel free to try Firstrade.
| Firstrade | |
|---|---|
| Summary | Firstrade is a US discount broker regulated by the top-tier SEC and FINRA. |
| Fees score | 5.0 |
| Recommended for | Beginners and investors looking for zero-commission trading, focusing on the US market |
Firstrade alternatives
Fidelity
Fidelity US stockbroker, founded in 1946. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Fidelity is considered safe because it has a long track record and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research and great trading platforms
| Pros | Cons |
|---|---|
| • Solid research tools | • Not fully digital account opening |
| • Great web trading platform | • High mutual fund fees |
| • US and international stocks | • Financing rates are high |
Fees
Fidelity has low trading fees and low non-trading fees. There are no commissions for stock trading which is great. On the negative side, fees for some mutual funds and financing rates can be high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High financing rate |
| • Free stock and ETF trading | • Higher fees for non-free mutual funds |
| • Some mutual funds are free |
| Fidelity | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | $22.1 | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at Fidelity is easy and fast, but not fully digital. The application had to be mailed with the relevant ID's photocopy.
| Pros | Cons |
|---|---|
| • No minimum deposit | • Not fully digital |
| • Low minimum deposit | |
| • User-friendly |
| Fidelity | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Fidelity minimum deposit, this overview will help you.
Deposit and withdrawal
Fidelity offers an exceptionally wide range of base currencies. Credit/debit cards are not accepted and the wire withdrawals are charged.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • $10 for outgoing wire transfers |
| • Several account base currencies |
| Fidelity | Firstrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Fidelity's web platform is easy to use, has a lot of order types, and provides a two-step authentication. On the negative side, the web trading platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Fidelity | Firstrade | |
|---|---|---|
| Web platform score | 5.0 | 4.0 |
| Mobile platform score | 5.0 | 3.0 |
| Desktop platform score | 4.0 | - |
Learn more about Fidelity's web trading platform in the detailed Fidelity review.
Markets and products
Fidelity offers a lot of asset classes, from stocks to options. There are international stocks too, not just US stocks. Forex and futures are missing.
| Fidelity | Firstrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Fidelity is one of the biggest US stockbrokers regulated by top-tier regulators.
Fidelity's research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The web trading platform is easy to use and offers advanced order types. The product offer covers international stock exchanges besides the US market, not common among the US brokers.
Fidelity has some drawbacks though. The account is not fully digital, fees for mutual funds are quite high, also financing rate.
As the research tools are great, the web trading platform is user-friendly, and no inactivity fee is charged, feel free to try Fidelity.
| Fidelity | |
|---|---|
| Summary | Fidelity is a US stockbroker. It is regulated by top-tier authorities the SEC and FINRA. |
| Fees score | 4.0 |
| Recommended for | Investors and traders looking for solid research and great trading platforms |
Want to stay in the loop?
Sign up to get notifications about new Brokerchooser articles right into your mailbox.
Firstrade alternatives
E-Trade
E-Trade is a US-based stockbroker founded in 1982. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
E-Trade is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is regulated by top-tier, US regulators.
Recommended for investors and traders looking for solid research and a great mobile trading platform
| Pros | Cons |
|---|---|
| • Low trading fees (free stock and ETF trading) | • Only US markets covered |
| • User-friendly mobile trading platform | • Slow account verification |
| • Great research tools | • No forex |
Fees
E-Trade offers free stock, ETF trading. Some mutual funds and bonds are also free. The non-trading fees are low. On the negative side, the fees for non-free mutual funds are high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • Higher fees for non-free mutual funds |
| • Free stock and ETF trading | |
| • Some mutual funds and bonds are free |
| E-Trade | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening is fully digital and user-friendly for US clients. On the flip side, the account verification process was slow.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow |
| • User-friendly |
| E-Trade | Firstrade | |
|---|---|---|
| Minimum deposit | $500 | $0 |
| Time to open account | >3 days | 1-3 days |
If you are interested more in E-Trade minimum deposit, this overview will help you.
Deposit and withdrawal
E-Trade charges no deposit fees and transferring money is user-friendly. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • $25 fee for wire transfer withdrawal |
| E-Trade | Firstrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
E-Trade has a great web-based user-friendly trading platform with a clear fee report. On the negative side, there is no two-step login and cannot be customized.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Good search function |
| E-Trade | Firstrade | |
|---|---|---|
| Web platform score | 4.0 | 4.0 |
| Mobile platform score | 5.0 | 3.0 |
| Desktop platform score | - | - |
Learn more about E-Trade's web trading platform in the detailed E-Trade review.
Markets and products
At E-Trade, you can trade with a lot of asset classes, from stocks to futures. On the other hand, there is US market only and you can't trade with forex.
| E-Trade | Firstrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
E-Trade is one of the biggest US stockbrokers regulated by top-tier regulators.
At the end of 2019, riding the commission-free trading trend in the USA E-Trade introduced zero commission on stock and ETF trades. E-Trade's research functions are high-quality and channel a lot of tools, including trading ideas, and strategy builders as well. We liked the easy handling and the personalizable features of the mobile trading platform.
It has some drawbacks though. E-Trade doesn't provide credit/debit cards and electronic wallets for money transfers and the product portfolio covers only US markets. In addition, the account verification process is slow.
As the trading fees are generally low, the research tools are great and no inactivity fee is charged, feel free to try E-Trade.
| E-Trade | |
|---|---|
| Summary | E-Trade is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background. |
| Fees score | 4.0 |
| Recommended for | Investors and traders looking for solid research and a great mobile trading platform |
Firstrade alternatives
Charles Schwab
Charles Schwab was founded in 1971 and it is a US discount broker listed on the New York Stock Exchange.
It is regulated by several top-tier financial authorities, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Financial Conduct Authority (FCA).
Recommended for investors and traders looking for solid research, low fees and great customer service
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High fees for some mutual funds |
| • Outstanding research | • Product selection covers only the US market |
| • Great customer service | • Not well-structured educational platform |
Fees
Charles Schwab offers free stock and ETF trading, while some mutual funds and bonds are also free. Non-trading fees are also low. On the negative side, the fees for some mutual funds are quite high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High fees for non-free mutual funds |
| • Free stock and ETF trading | |
| • Some mutual funds and bonds are free |
| Charles Schwab | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. If you open an account outside the US, there is a $25,000 minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | • For non-US clients $25,000 minimum deposit |
| • Fully digital | |
| • No minimum deposit |
| Charles Schwab | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Charles Schwab minimum deposit, this overview will help you.
Deposit and withdrawal
Transferring money is easy and user-friendly at Charles Schwab and there is no deposit fee. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • High fee for wire (bank transfer) withdrawals |
| • User-friendly |
| Charles Schwab | Firstrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Charles Schwab offers a good web-based trading platform with a clean design. On the flip side, there is no two-step (safer) login and the platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | |
| • Order confirmation |
| Charles Schwab | Firstrade | |
|---|---|---|
| Web platform score | 4.0 | 4.0 |
| Mobile platform score | 4.0 | 3.0 |
| Desktop platform score | 4.0 | - |
Learn more about Charles Schwab's web trading platform in the detailed Charles Schwab review.
Markets and products
At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. Unfortunately, the product portfolio covers only US exchanges.
| Charles Schwab | Firstrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.
Reflecting the wave of introducing commission-free trading at the end of 2019, Charles Schwab charges no commission for stock and ETF trades. Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It charges high fees for some mutual funds and the product portfolio covers only US markets. Lastly, the educational platform is not well-structured.
As the trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try it.
| Charles Schwab | |
|---|---|
| Summary | Charles Schwab is a US discount broker, regulated by top-tier US authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and holds a banking license. |
| Fees score | 4.0 |
| Recommended for | Investors and traders looking for solid research, low fees and great customer service |
Firstrade alternatives
Ally Invest
Ally Invest is a US stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). Its parent company, Ally Financial Inc. dates back to 1911 as the former company, General Motors Acceptance Corporation (GMAC) was founded then. Ally Financial Inc. is listed on the New York Stock Exchange and has a banking subsidiary, called Ally Bank.
Ally Invest is considered safe because it has a long track record and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for low fees and focusing on the us market
| Pros | Cons |
|---|---|
| • Low trading and non-trading fees | • You can trade only on US markets |
| • Easy and fully digital account opening | • Forex trading is available through a separate account |
| • Great education | • High financing (margin) rates |
Fees
Ally Invest has low trading fees and low non-trading fees. It even charges zero base commission on stocks and ETFs. On the negative side, financing fees are quite high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High financing (margin) rates |
| • Low non-trading fees | |
| • Zero commission stock, ETF and options trading |
| Ally Invest | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening is fully digital and user-friendly. It also has no minimum deposit. On the other hand, the account verification takes ~3 business days which is slower than at some other brokers.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow account verification |
| • No minimum deposit | |
| • Low minimum deposit |
| Ally Invest | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Ally Invest minimum deposit, this overview will help you.
Deposit and withdrawal
Ally Invest doesn't charge deposit fee and transferring money is easy and user-friendly. On the other hand you can use only bank transfer, and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High outgoing wire transfer fee |
| • Free ACH withdrawal |
| Ally Invest | Firstrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Ally Invest's web trading platform is user-friendly, has a convenient search function. On the negative side, there is no two-step login and does not give a clear fee report.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good search function | • No two-step (safer) login |
| • Good customizability (for charts, workspace) |
| Ally Invest | Firstrade | |
|---|---|---|
| Web platform score | 4.0 | 4.0 |
| Mobile platform score | 3.0 | 3.0 |
| Desktop platform score | - | - |
Learn more about Ally Invest's web trading platform in the detailed Ally Invest review.
Markets and products
At Ally Invest you can trade with different asset classes, from stocks to options. On the negative side, the product selection covers only the US market. Forex trading is available only through a separate Ally Forex account.
| Ally Invest | Firstrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Ally Invest is one of the biggest US stockbrokers regulated by top-tier regulators.
Ally Invest has low trading and non-trading fees and offers a good product range in the US. The account opening is easy and fully digital. We also liked the quality of the educational tools.
It has some drawbacks though. You can trade only on US exchanges and margin rates are high. Forex trading is available only through a separate Ally Forex account provided by GAIN Capital (Forex.com).
As the trading fees are low and no inactivity fee is charged, feel free to try Ally Invest.
| Ally Invest | |
|---|---|
| Summary | Ally Invest is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and has a banking background. |
| Fees score | 4.0 |
| Recommended for | Investors and traders looking for low fees and focusing on the US market |
Firstrade alternatives
Bottom line
Based on our analysis, there are several good alternatives to Firstrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Firstrade | US discount broker | Beginners and investors looking for zero-commission trading, focusing on the US market |
| Fidelity | US stockbroker | Investors and traders looking for solid research and great trading platforms |
| E-Trade | US stockbroker | Investors and traders looking for solid research and a great mobile trading platform |
| Charles Schwab | US discount broker | Investors and traders looking for solid research, low fees and great customer service |
| Ally Invest | US stockbroker | Investors and traders looking for low fees and focusing on the US market |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
