The best alternatives to Firstrade are
- TradeStation - US stockbroker
- Interactive Brokers - International broker providing all asset classes
- TD Ameritrade - US-based stockbroker
- E*TRADE - US stockbroker
Let's see in a bit more detail how the Firstrade alternatives compare to Firstrade and each other:
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| Overall score | 4.5 stars | 4.7 stars | 4.9 stars | 4.9 stars | 4.7 stars |
| Fees score | 4.4 stars | 4.1 stars | 4.4 stars | 4.1 stars | 4.1 stars |
| Account opening score | 4.2 stars | 5.0 stars | 3.2 stars | 4.0 stars | 4.2 stars |
| Deposit and withdrawal score | 2.2 stars | 2.2 stars | 3.0 stars | 2.2 stars | 2.2 stars |
| Web platform score | 4.3 stars | 3.8 stars | 3.8 stars | 4.3 stars | 4.5 stars |
| Markets and products score | 3.2 stars | 3.2 stars | 5.0 stars | 3.9 stars | 2.9 stars |
| 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
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment
- TD Ameritrade is recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
- E*TRADE is recommended for investors and traders looking for solid research and a great mobile trading platform
Important factors of finding Firstrade alternatives
So far BrokerChooser has reviewed 102 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
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; transparently discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
|
• Great web and mobile trading platform
|
• Inconvenient deposit and withdrawal
|
|
• Low trading fees
|
• No forex trading
|
|
• High-quality research and education tools
|
• Mediocre customer service
|
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, there's an inactivity fee and only ACH is free for withdrawals.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Inactivity fee
|
|
• Low stock and ETF fees / Free stock trading
|
• WIthdrawal fee for bank wire transfers
|
|
• Free ACH withdrawals
|
|
| TradeStation | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| 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
TradeStation account opening is fully digital, user-friendly and fast. There are many account types, but USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• User-friendly
|
|
| TradeStation | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; while the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Deposit/withdrawal in cryptocurrencies
|
• High fee for wire withdrawal
|
|
• ACH withdrawal is free
|
|
| TradeStation | Firstrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
None |
|
• Two-step (safer) login
|
|
|
• Good search function
|
|
| TradeStation | Firstrade | |
|---|---|---|
| Web platform score | 3.8 stars | 4.3 stars |
| Mobile platform score | 4.8 stars | 3.8 stars |
| Desktop platform score | 2.3 stars | - |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| TradeStation | Firstrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly, with many great functions. TradeStation also charges low stock and ETF trading fees. On top of that, its education materials are well-structured and high quality.
On the other hand, deposit and withdrawal functions are not that convenient, as you can only use bank transfers. Among other negatives, there is no forex trading, and customer service has room for improvement.
As there is no minimum deposit, feel free to try TradeStation if you prefer trading on US markets.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
Firstrade alternatives
Interactive Brokers
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, has a long track record and publicly disclosed financials while being listed on a stock exchange; it all points towards IB being a safe service provider.
IB currently offers high interest on cash balances in several currencies for investors with assets over $10,000.
Interactive Brokers recently launched a new app for global stock trading: GlobalTrader is a simple platform where you can trade stocks and ETFs. If you are looking to trade only those two assets, GlobalTrader is the solution for you, since you will not get distracted with the other unnecessary information about other asset classes. In addition, you will have a more convenient time navigating through its simple user interface. It is also easier and quicker to create a GlobalTrader account than to create an Interactive Brokers account. Read our review of IBKR GlobalTrader
In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.
Recommended for traders looking for broad market access and a professional trading environment
| Pros | Cons |
|---|---|
|
• Low trading fees and high interest (up to 4.58% for USD) on cash balances
|
• Complicated account opening process
|
|
• Wide range of products
|
• Complex desktop trading platform
|
|
• Many great research tools
|
• Understaffed customer service
|
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. IB currently pays interest (up to 4.58% for USD) on cash balances if you have a $100k account (net asset value). For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
None |
|
• Free stock and ETF trading for US clients
|
|
|
• Low margin rates
|
|
| Interactive Brokers | Firstrade | |
|---|---|---|
| Apple benchmark fee | $2.3 | $0.3 |
| Vodafone benchmark fee | $8.2 | - |
| EURUSD benchmark fee | $14.8 | - |
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
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Not user-friendly
|
|
• No minimum deposit for most account types
|
|
| Interactive Brokers | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Several account base currencies
|
|
|
• First withdrawal free each month
|
|
| Interactive Brokers | Firstrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• User experience could be better
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Interactive Brokers | Firstrade | |
|---|---|---|
| Web platform score | 3.8 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 3.8 stars |
| Desktop platform score | 3.8 stars | - |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | Firstrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
Verdict
Interactive Brokers is one of the biggest US-based lowest spread brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools. IB currently also pays a high interest on cash balances in several currencies.
There are some drawbacks, however. We weren't satisfied with the quality of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.4 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
Firstrade alternatives
TD Ameritrade
If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.
Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| Pros | Cons |
|---|---|
|
• Low trading fees (free stock and ETF trading)
|
• You can trade only on US markets
|
|
• Superb desktop trading platform
|
• Accounts mostly limited to US residents
|
|
• Great customer support
|
• No credit/debit cards and electronic wallets for money transfer
|
Fees
TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for non-free funds and futures.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• High fund fees
|
|
• Low non-trading fees
|
|
|
• Free stocks and ETFs
|
|
| TD Ameritrade | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | $14.1 | - |
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
TD Ameritrade offers many different account types and there is no minimum deposit for US citizens.
| Pros | Cons |
|---|---|
|
• Fully digital
|
None |
|
• No minimum deposit
|
|
|
• Many account types
|
|
| TD Ameritrade | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in TD Ameritrade minimum deposit, this overview will help you.
Deposit and withdrawal
The account funding is user-friendly with no deposit fees; however, USD is the only available base currency and wire transfers incur a high fee.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• Only one account base currency
|
|
• User-friendly
|
• High withdrawal fee for wire transfers
|
| TD Ameritrade | Firstrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TD Ameritrade offers a good web trading platform with a clean design. On the flip side, the platform is not customizable.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Two-step (safer) login
|
|
|
• Good variety of order types
|
|
| TD Ameritrade | Firstrade | |
|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars |
| Mobile platform score | 4.8 stars | 3.8 stars |
| Desktop platform score | 4.5 stars | - |
Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.
Markets and products
You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
| TD Ameritrade | Firstrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
TD is one of the biggest US online brokers and it charges no commission on stock and ETF trades.
Research and education are outstanding, the thinkorswim desktop platform is one of the best on the market, and customer service is great.
There are a few drawbacks, most notably high margin rates, and the fact that credit/debit cards and electronic wallets are not accepted for money transfers. Furthermore, the product portfolio covers only US markets.
We definitely recommend giving TD a try, especially as their education tools include a demo account.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker regulated by top-tier authorities SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. The brokerage was acquired by Charles Schwab Corporation in 2020. Client account conversion is expected between April and September of 2023. |
| Fees score | 4.1 stars |
| Recommended for | Investors and traders looking for solid research and a well-equipped desktop trading platform |
Firstrade alternatives
E*TRADE
E*TRADE is a US-based stockbroker founded in 1982. It is regulated by top-tier financial authorities such as 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 overseen by top-tier US regulators.
In February 2020, E*TRADE was acquired by Morgan Stanley. To find out more about the motives behind the acquisition and about the wider market context, check out our article about the deal.
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, no forex
|
|
• User-friendly mobile trading platform
|
• Only bank transfer
|
|
• Great research tools
|
• No email or live chat
|
Fees
E*TRADE offers free stock and ETFs trades; some bonds and mutual funds are also free to trade. Non-trading fees are low. On the negative side, fees for mutual funds that aren't free are high.
| Pros | Cons |
|---|---|
|
• Free stock and ETF trading
|
• High fees for non-free mutual funds
|
|
• Some mutual funds and bonds are free
|
|
|
• Low non-trading fees
|
|
| E*TRADE | Firstrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| 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
Account opening at E*TRADE (only available for US clients) is fully digital and user-friendly, but the account verification process is slow.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow account verification
|
|
• No minimum deposit
|
|
|
• User-friendly
|
|
| E*TRADE | Firstrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 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 easy. On the negative side, you can only use bank transfer and there is a high fee for wire transfer withdrawals.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• User-friendly
|
• High 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, user-friendly web trading platform, offering a clear fee report. On the negative side, it cannot be customized.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| E*TRADE | Firstrade | |
|---|---|---|
| Web platform score | 4.5 stars | 4.3 stars |
| Mobile platform score | 4.5 stars | 3.8 stars |
| Desktop platform score | - | - |
Learn more about E*TRADE's web trading platform in the detailed E*TRADE review.
Markets and products
You can trade plenty of asset classes at E*TRADE from stocks to futures, but only on the US market; in addition, forex trading is not available.
| E*TRADE | Firstrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
E*TRADE is one of the biggest US stockbrokers and is regulated by top-tier authorities.
E*TRADE offers commission-free trading for stocks and ETFs. The research functions are of high quality and channel a lot of tools, including trading ideas and strategy builders. We liked the easy handling and the customizable features of the mobile trading platform.
E*TRADE has some drawbacks though. It doesn't accept credit/debit cards and electronic wallets for money transfers and its product portfolio covers only US markets. In addition, its customer service lacks email or live chat and is not available 24/7.
As trading fees are generally low, 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 SEC and FINRA. The company is listed on NASDAQ and has a banking background. |
| Fees score | 4.1 stars |
| Recommended for | Investors and traders looking for solid research and a great mobile trading platform |
Firstrade alternatives
Firstrade
Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name First Flushing Securities.
Firstrade is considered safe because it has a long track record and is overseen 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 or 24/7 availability
|
Fees
Firstrade has low fees. It offers free stock, ETF, funds, and options trading with low non-trading fees. However, margin rates are high.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• High margin rates
|
|
• Low non-trading fees
|
|
|
• Free stock, ETF, fund and options trading
|
|
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $1.0 | $0.0 | $0.0 |
| UK stock | - | - | $3.7 | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Account opening is fully digital and user-friendly, and is open to some international customers as well. On the flip side, the process was slow for us, taking almost 3 business days.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow account verification
|
|
• No minimum deposit
|
|
|
• Low minimum deposit
|
|
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1-3 days |
Learn more about Firstrade minimum deposit here.
Deposit and withdrawal
We liked 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 transfers and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• User-friendly
|
• Only one account base currency
|
|
|
• High outgoing wire transfer fee
|
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
Firstrade's web platform has a straightforward design, making it easy to use even for beginners. On the negative side, it lacks a two-step login and the customizability of the main sections is quite limited.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• No two-step (safer) login
|
|
• Clear fee report
|
|
|
• Good search function
|
|
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 3.8 stars | 3.8 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 4.8 stars | 3.5 stars | 4.8 stars | 4.5 stars |
| Desktop platform score | - | 2.3 stars | 3.8 stars | 4.5 stars | - |
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 products cover only the US market and you cannot trade futures or forex.
| Firstrade | TradeStation | Interactive Brokers | TD Ameritrade | E*TRADE | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | Yes | Yes | No |
| Funds | Yes | Yes | Yes | Yes | Yes |
| Bonds | Yes | Yes | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | Yes | Yes | Yes | Yes |
| CFDs | No | No | Yes | No | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
Firstrade is one of the biggest discount US stockbrokers and it is regulated by top-tier regulators.
Firstrade offers free stock, ETF, mutual funds and options trading. It doesn't charge inactivity and account fees, and there are lots of quality research and educational tools you can use.
Their services have some drawbacks, though. Firstrade doesn't accept credit/debit cards and electronic wallets for money transfer. The product portfolio covers only the US market. Customer service is only available 24/5 and you can't contact them via live chat.
As it has 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 | 4.4 stars |
| Recommended for | Beginners and investors looking for zero-commission trading, 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 |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
| Interactive Brokers | International broker providing all asset classes | Traders looking for broad market access and a professional trading environment |
| TD Ameritrade | US-based stockbroker | Investors and traders looking for solid research and a well-equipped desktop trading platform |
| E*TRADE | US stockbroker | Investors and traders looking for solid research and a great mobile trading platform |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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