Firstrade vs Interactive Brokers compared

Online brokers compared for fees, trading platforms, safety and more. See how Firstrade stacks up against Interactive Brokers!

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Brokers displayed might not be available in United States.

More alternatives to Firstrade and Interactive Brokers

Firstrade

Interactive Brokers

Firstrade

4.5

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Interactive Brokers

4.9

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Last update of data—Dec 2022

FirstradeInteractive Brokers

Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.

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.

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market.

Recommended for traders looking for broad market access and a professional trading environment.

Firstrade

Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market.

Interactive Brokers

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.

Recommended for traders looking for broad market access and a professional trading environment.

Firstrade's service is slightly weaker than Interactive Brokers's and a comparison of their fees shows that Firstrade's fees are similar to Interactive Brokers's.

Account opening takes somewhat less effort at Firstrade compared to Interactive Brokers, deposit and withdrawal processes are somewhat more complicated at Firstrade, while customer service quality is considerably lower than Interactive Brokers's.

Our experts rated the trading platform of Firstrade as being of the same quality as the platform of Interactive Brokers, found that clients have access to less markets and products with Firstrade, while Interactive Brokers provides somewhat lower-quality research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score

4.5

Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

Overall Score

4.9

Recommended for Traders looking for broad market access and a professional trading environment

Best online broker

Country of origin

USA

Country of origin

USA

Fees

Fees score

4.4

Fees score

4.5

Fees summary

Low trading and non-trading fees, free stock, ETF, fund and options trading

Fees summary

Low trading and non-trading fees, free stock and ETF trading for US customers

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score

2.2

Deposit and withdrawal score

3.0

Number of base currencies

Deposit type

Withdrawal type

Account opening

Account opening score

4.2

Account opening score

3.2

Account opening fully online

Minimum deposit

Time to open account

1-3 days

Time to open account

1-3 days

Required documents

Proof of identity: SSN / passport / national ID card / driver's license

Required documents

Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement

Trading platform

Web platform score

4.3

Web platform score

3.8

Mobile platform score

3.8

Mobile platform score

3.5

Desktop platform score

3.8

Markets and products

Markets and products score

3.2

Markets and products score

5.0

Stocks

Fractional shares

ETFs

Forex

Funds

Bonds

Options

Futures

Crypto

CFDs

CFD disclaimer

Disclaimer: 60.0% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Research, education

Research score

4.8

Research score

4.3

Charting quality

Great

Charting quality

Great

Education score

3.5

Education score

4.5

Demo account

Customer service

Customer service score

1.1

Customer service score

4.3

Phone

Live chat

24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

£85,000 or $500,000 (but only $250,000 for cash) in the UK depending on the assets you hold; $500,000 ($250,000) in the US; €20,000 (IB Ireland & Luxembourg) or €100,000 (IB Central Europe) in the EU, CAD 1 million in Canada; HKD 500,000 in Hong Kong

Banking background

Listed on stock exchange

Foundation date

1985

Foundation date

1977

Country of regulation

USA

Country of regulation

USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore

Firstrade

For detailed information and hands-on experience, read our review of this broker.

Read Review

Interactive Brokers

For detailed information and hands-on experience, read our review of this broker.

Read Review

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Brokers displayed might not be available in United States.

More alternatives to Firstrade and Interactive Brokers

Firstrade vs Interactive Brokers compared

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