Written by StockBrokers.com
In this head to head comparison of Charles Schwab vs Firstrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
Bottom line: Charles Schwab edges out Firstrade on sheer variety and guidance. Both brokers cover the core essentials—stocks, options, mutual funds, OTC stocks, margin, and fractional shares—but only Schwab adds forex and futures plus advisor services. That broader lineup helps explain why StockBrokers.com rates Schwab 4.5/5 for Range of Investments (#3 of 14) versus Firstrade’s 4/5 (#5 of 14). Neither broker supports cryptocurrency trading (0 coins at both).
In day‑to‑day investing, you’ll find the same mainstream tools at either firm: stock trading, options trading, mutual funds, OTC stocks, margin access, and the ability to buy fractional shares. Where they diverge is in specialized markets—Schwab offers both forex and futures, while Firstrade does not. Crypto isn’t available at either broker.
Account choices are similar for retirement savers, with both Charles Schwab and Firstrade providing Traditional and Roth IRA accounts. If you want professional guidance or managed help, Schwab stands out with advisor services, which Firstrade does not offer.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | Yes | Yes |
| OTC Stocks | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Options Trading | Yes | Yes |
| Futures Trading | Yes | No |
| Crypto Trading | No | No |
| Crypto Trading - Total Coins | 0 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026
Charles Schwab is the clear winner for trading platforms and tools: it earns 4.5 out of 5 stars and ranks #1 of 14 brokers at StockBrokers.com, while Firstrade scores 1 star and ranks #12. If you want strong platform choice, advanced charting, and practice features, Schwab fits better. Firstrade covers basic online trading but lacks desktop software and many pro features.
Platforms and workflow: Schwab offers downloadable platforms for both Windows and Mac plus a browser-based platform; Firstrade offers only a browser-based platform and no desktop downloads. Schwab also includes paper trading and a built-in trading journal; Firstrade offers neither. Watch lists are far more flexible at Schwab (up to 580 columns) versus Firstrade (50). Schwab lets you adjust open orders directly on a stock chart; Firstrade does not.
Charting and customization: Schwab supplies 374 technical indicators and 24 drawing tools versus Firstrade’s 102 indicators and 8 tools. Schwab lets you add notes, view historical trades, display corporate events, and set custom date ranges on charts; Firstrade lacks those options. Both brokers can show automated technical analysis (chart patterns), but only Schwab lets you save multiple chart profiles, edit an SMA study with 35 fields (versus 6 at Firstrade), and create custom studies.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | Yes | No |
| Desktop Platform (Mac) | Yes | No |
| Paper Trading | Yes | No |
| Watchlists - Total Fields | 580 | 50 |
| Charting - Indicators / Studies | 374 | 102 |
| Charting - Drawing Tools | 24 | 8 |
| Advanced Trading |
|
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Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026
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When it comes to investor education, Charles Schwab offers a wider learning center than Firstrade. Both brokers provide stock and options education, plus educational videos and webinars. However, Schwab adds ETF, mutual fund, and bond lessons, along with paper trading, quizzes, and tools to track your learning progress—features Firstrade does not offer. This makes Schwab more appealing for beginners who want a clear path, practice opportunities, and feedback, while Firstrade suits self-guided learners who only need basic stock and options content.
Ratings reflect that gap: Charles Schwab earns 5 stars for education and ranks #2 out of 14 brokers on StockBrokers.com. Firstrade receives 2.5 stars and ranks #13 out of 14. If you want a fuller curriculum with practice trading and progress tracking, choose Schwab. If you just want simple materials and already know what you’re looking for, Firstrade can cover the basics.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | No |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | No |
| Education (Fixed Income) | Yes | No |
| Videos | Yes | Yes |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2026
Bottom line: Charles Schwab leads this matchup for mobile stock trading. Schwab’s app earned 5 stars and a #1 ranking out of 14 brokers from StockBrokers.com, while the Firstrade app scored 4 stars and ranked #8. If you want the widest set of built-in tools, market media, and wearable support, Schwab is the clear pick. Firstrade remains a capable choice for everyday stock and options trading on the go.
Both the Charles Schwab app and the Firstrade app are available on iPhone and Android, and both support mobile options trading, streaming quotes, stock alerts, custom watch lists with customizable columns, landscape chart views, multiple chart time frames, and side‑by‑side stock comparisons on charts. Schwab supports mobile after‑hours trading; Firstrade’s mobile after‑hours trading availability isn’t confirmed here.
Schwab pulls ahead on extras: it offers an Apple Watch app, streaming live TV, videos on demand, and after‑hours charting, while Firstrade lacks those. Charting depth is also a differentiator—Schwab provides 373 technical studies versus 81 on Firstrade—giving active chart watchers far more indicators to work with.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | Yes | No |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | No |
| Charting - Technical Studies | 373 | 81 |
| Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2026
When choosing between Charles Schwab and Firstrade for your online brokerage needs, it's essential to consider the various fees and charges associated with each platform. Both brokers offer a $0 minimum deposit, making it easy for new investors to get started. They also provide commission-free trading on regular stock trades, catering to cost-conscious traders. However, differences arise in options trading costs, where Charles Schwab charges $0.65 per options contract, while Firstrade offers this service for free. Additionally, Charles Schwab generally provides more competitive rates for margin balances, especially for accounts under $100,000.
Diving deeper into their fee structures, neither Charles Schwab nor Firstrade charges annual fees or closure fees for IRA accounts, making them both excellent choices for retirement investors. However, a significant distinction appears in the fees for Account Transfers (ACAT). Charles Schwab charges $50 for a full transfer, whereas Firstrade's charge is $75. For partial account transfers, Charles Schwab does not impose any fee, contrasting with Firstrade's $55 charge. Both firms waive fees for options exercise and assignment, adding to their appeal for options traders.
Overall, both Charles Schwab and Firstrade provide appealing features for different types of investors, with their fee structures playing a crucial role in differentiating the two. Schwab's lower margin rates and no-fee partial transfers make it a formidable option for more active traders and those looking to manage their portfolios with greater flexibility. At the same time, Firstrade's commission-free options trading could appeal to those focused on options. Weighing these aspects will help investors decide which broker best suits their individual trading needs.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.00 |
| Options Exercise Fee | $0.00 | $0.00 |
| Options Assignment Fee | $0.00 | $0.00 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $0.00 |
Dive deeper: Best Free Trading Platforms for 2026
For day traders seeking an online broker, Charles Schwab offers a more comprehensive suite of tools compared to Firstrade. With Charles Schwab, traders can access streaming time and sales for stocks, streaming live TV, and direct market routing. They also have ladder trading capabilities, the option to use trading hotkeys for quick entries, and access to level 2 quotes. For those interested in strategy testing, Charles Schwab provides both basic and advanced backtesting options. Additionally, a short locator tool is available to check real-time share availability for short selling.
On the other hand, Firstrade lacks many of these advanced features crucial for active day trading. It does not provide streaming time and sales for stocks, direct market routing, or streaming live TV. Tools like ladder trading, trading hotkeys, and level 2 quotes are also absent. Traders looking to test strategies or view short share availability may find Firstrade limited, as it does not offer any backtesting or a short locator tool. Despite these differences, neither platform offers order liquidity rebates. Overall, Charles Schwab seems to cater more effectively to the needs of day traders.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Streaming Time & Sales | Yes | No |
| Streaming TV | Yes | No |
| Direct Market Routing - Equities | Yes | No |
| Level 2 Quotes - Stocks | Yes | No |
| Trade Ideas - Backtesting | Yes | No |
| Trade Ideas - Backtesting Adv | Yes | No |
| Short Locator | Yes | No |
Dive deeper: Best Day Trading Platforms of 2026 for Beginners and Active Traders
Charles Schwab takes the lead for market research: it’s rated 4.5/5 stars and ranked #2 of 14 brokers by StockBrokers.com, while Firstrade earns 4/5 stars and ranks #6. Both brokers cover the same ground across assets, but Schwab’s edge is its deeper library of downloadable stock reports (7 vs 1). If you want more analyst PDFs and a higher-ranked research experience, pick Schwab; if you just need the essentials, Firstrade gets the job done.
Both Charles Schwab and Firstrade offer research for stocks, ETFs, mutual funds, bonds, and Pink Sheets/OTCBB. Each platform includes screeners for stocks, ETFs, mutual funds, and bonds, plus portfolio allocation views by asset class to see how your holdings are spread out. You’ll also find stock insights powered by social media sentiment and Environmental, Social, and Governance (ESG) research on both. For reports, each broker provides downloadable PDFs for ETFs, while neither offers PDF reports for mutual funds.
The main difference is depth of stock reports: Schwab supplies seven downloadable stock research PDFs from multiple providers, while Firstrade offers one. That extra variety can help with idea generation and fact-checking without leaving the platform—likely a key reason for Schwab’s higher rating and rank. If your workflow leans on many third-party reports, go with Schwab; if you rely more on screeners and summaries, Firstrade will feel familiar and capable.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | Yes | Yes |
| Research - Mutual Funds | Yes | Yes |
| Screener - Mutual Funds | Yes | Yes |
| Research - Fixed Income | Yes | Yes |
| Screener - Fixed Income | Yes | Yes |
| Research |
|
|
When considering banking services from online brokers, Charles Schwab and Firstrade provide distinct offerings. Charles Schwab shines with its comprehensive banking capabilities, including both checking and savings accounts, along with debit and credit cards. They also offer mortgage loans and CDs, making them a versatile option for various financial needs. In contrast, Firstrade offers checking accounts and debit cards but lacks savings accounts and credit card options. While Firstrade doesn't support mortgage loans, it does offer CDs, providing a limited yet serviceable banking experience compared to Schwab's broader suite of financial products.
| Feature |
Charles Schwab
|
Firstrade
|
|---|---|---|
| Checking Accounts | Yes | Yes |
| Savings Accounts | Yes | No |
| Debit Cards | Yes | Yes |
| Credit Cards | Yes | No |
| Mortgage Loans | Yes | No |
| Brokerage CDs | Yes | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2026
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Charles Schwab is better than Firstrade. Charles Schwab finished with an overall score of 93.3%, while Firstrade finished with a score of 67.8%.
For most investors, the search for a great broker ends with Charles Schwab. Retaining the #1 Overall ranking in 2026, Schwab continues to set the industry standard. The broker uniquely balances scale with sophistication, offering both simplified mobile tools and the professional-grade thinkorswim platform. From buying a first fractional share to managing a multimillion-dollar estate, Schwab provides a platform tailored to every need, serving as the definitive operating system for modern wealth.
Both Charles Schwab and Firstrade do not offer cryptocurrency trading, with neither platform providing access to any crypto coins.
Dive deeper: Best Online Brokers for Crypto Trading in 2026
Both Charles Schwab and Firstrade offer traditional and Roth IRA accounts without charging any annual fees or closure fees, making them cost-effective options for retirement savings.
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0 of 5| Overall Rating | Charles Schwab | Firstrade | |
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| Review | Charles Schwab Review | Firstrade Review |
| Broker Screenshots | Charles Schwab | Firstrade | |
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| Trading Fees | Charles Schwab | Firstrade | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | $6.95 | $0.00 | |
| Mutual Fund Trade Fee | Varies | $0 | |
| Options (Per Contract) | $0.65 | $0.00 | |
| Futures (Per Contract) | $2.25 | (Not offered) | |
| Broker Assisted Trade Fee | $25 | $19.95 |
| Margin Rates | Charles Schwab | Firstrade | |
|---|---|---|---|
| Margin Rate Under $25,000 | 12.58% | 12.75% | |
| Margin Rate $25,000 to $49,999.99 | 12.08% | 12.50% | |
| Margin Rate $50,000 to $99,999.99 | 11.13% | 12.00% | |
| Margin Rate $100,000 to $249,999.99 | 11.08% | 11.50% | |
| Margin Rate $250,000 to $499,999.99 | 10.83% | 11.25% | |
| Margin Rate $500,000 to $999,999.99 | Varies | 9.35% | |
| Margin Rate Above $1,000,000 | Varies | 8.75% |
| Account Fees | Charles Schwab | Firstrade | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $0.00 | |
| IRA Closure Fee | $0.00 | $0.00 | |
| Account Transfer Out (Partial) | $0.00 | $55.00 | |
| Account Transfer Out (Full) | $50.00 | $75.00 | |
| Options Exercise Fee | $0.00 | $0.00 | |
| Options Assignment Fee | $0.00 | $0.00 |
| Investment Options | Charles Schwab | Firstrade | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | Yes | Yes | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | Yes | No | |
| Forex Trading | Yes | No | |
| Crypto Trading | No | No | |
| Crypto Trading - Total Coins | 0 | 0 | |
| Fixed Income (Treasurys) | Yes | Yes | |
| Fixed Income (Corporate Bonds) | Yes | Yes | |
| Fixed Income (Municipal Bonds) | Yes | Yes | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | Yes | No | |
| International Countries (Stocks) | 12 | 0 |
| Order Types | Charles Schwab | Firstrade | |
|---|---|---|---|
| Order Type - Market | Yes | Yes | |
| Order Type - Limit | Yes | Yes | |
| Order Type - After Hours | Yes | Yes | |
| Order Type - Stop | Yes | Yes | |
| Order Type - Trailing Stop | Yes | Yes | |
| Order Type - OCO | Yes | Yes | |
| Order Type - OTO | Yes | Yes | |
| Order Type - Broker Assisted | Yes | Yes |
| Beginners | Charles Schwab | Firstrade | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | No | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | No | |
| Education (Fixed Income) | Yes | No | |
| Education (Retirement) | Yes | Yes | |
| Retirement Calculator | Yes | Yes | |
| Investor Dictionary | Yes | Yes | |
| Paper Trading | Yes | No | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Progress Tracking | Yes | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Charles Schwab | Firstrade | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | Yes | No | |
| Trading - Stocks | Yes | Yes | |
| Trading - After-Hours | Yes | Yes | |
| Trading - Simple Options | Yes | Yes | |
| Trading - Complex Options | Yes | Yes | |
| Order Ticket RT Quotes | Yes | Yes | |
| Order Ticket SRT Quotes | Yes | Yes |
| Stock App Features | Charles Schwab | Firstrade | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | Yes | No | |
| Videos on Demand | Yes | No | |
| Stock Alerts | Yes | Yes | |
| Option Chains Viewable | Yes | Yes | |
| Watchlist (Real-time) | Yes | Yes | |
| Watchlist (Streaming) | Yes | Yes | |
| Mobile Watchlists - Create & Manage | Yes | Yes | |
| Mobile Watchlists - Column Customization | Yes | Yes |
| Stock App Charting | Charles Schwab | Firstrade | |
|---|---|---|---|
| Charting - After-Hours | Yes | No | |
| Charting - Can Turn Horizontally | Yes | Yes | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 373 | 81 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | Yes |
| Trading Platforms | Charles Schwab | Firstrade | |
|---|---|---|---|
| Active Trading Platform | thinkorswim | N/A | |
| Desktop Trading Platform | Yes | No | |
| Desktop Platform (Mac) | Yes | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | No | |
| Trade Journal | Yes | No | |
| Watchlists - Total Fields | 580 | 50 |
| Stock Chart Features | Charles Schwab | Firstrade | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | No | |
| Charting - Indicators / Studies | 374 | 102 | |
| Charting - Drawing Tools | 24 | 8 | |
| Charting - Notes | Yes | No | |
| Charting - Historical Trades | Yes | No | |
| Charting - Corporate Events | Yes | No | |
| Charting - Custom Date Range | Yes | No | |
| Charting - Custom Time Bars | Yes | No | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | No | |
| Trade Ideas - Technical Analysis | Yes | Yes | |
| Charting - Study Customizations | 35 | 6 | |
| Charting - Custom Studies | Yes | No |
| Day Trading | Charles Schwab | Firstrade | |
|---|---|---|---|
| Streaming Time & Sales | Yes | No | |
| Streaming TV | Yes | No | |
| Direct Market Routing - Equities | Yes | No | |
| Ladder Trading | Yes | No | |
| Trade Hot Keys | Yes | No | |
| Level 2 Quotes - Stocks | Yes | No | |
| Trade Ideas - Backtesting | Yes | No | |
| Trade Ideas - Backtesting Adv | Yes | No | |
| Short Locator | Yes | No | |
| Order Liquidity Rebates | No | No |
| Research Overview | Charles Schwab | Firstrade | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | Yes | Yes | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | Yes | Yes | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | Yes | |
| Screener - Mutual Funds | Yes | Yes | |
| Screener - Fixed Income | Yes | Yes | |
| Portfolio Asset Allocation | Yes | Yes |
| Stock Research | Charles Schwab | Firstrade | |
|---|---|---|---|
| Stock Research - PDF Reports | 7 | 1 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | Yes | Yes | |
| Stock Research - Social | Yes | Yes | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | Yes | Yes | |
| Stock Research - SEC Filings | Yes | Yes |
| ETF Research | Charles Schwab | Firstrade | |
|---|---|---|---|
| ETFs - Investment Objective | Yes | Yes | |
| ETF Fund Facts - Inception Date | Yes | Yes | |
| ETF Fund Facts - Expense Ratio | Yes | Yes | |
| ETF Fund Facts - Total Assets | Yes | Yes | |
| ETF Fund Facts - Total Holdings | Yes | Yes | |
| ETFs - Top 10 Holdings | Yes | Yes | |
| ETFs - Sector Exposure | Yes | Yes | |
| ETFs - Risk Analysis | Yes | Yes | |
| ETFs - Ratings | Yes | Yes | |
| ETFs - Morningstar StyleMap | Yes | Yes | |
| ETFs - PDF Reports | Yes | Yes |
| Mutual Fund Research | Charles Schwab | Firstrade | |
|---|---|---|---|
| Mutual Funds - Investment Objective | Yes | Yes | |
| Mutual Funds - Performance Chart | Yes | Yes | |
| Mutual Funds - Performance Analysis | Yes | Yes | |
| Mutual Funds - Prospectus | Yes | Yes | |
| Mutual Funds - 3rd Party Ratings | Yes | Yes | |
| Mutual Funds - Fees Breakdown | Yes | Yes | |
| Mutual Funds - Top 10 Holdings | Yes | Yes | |
| Mutual Funds - Asset Allocation | Yes | Yes | |
| Mutual Funds - Sector Allocation | Yes | Yes | |
| Mutual Funds - Country Allocation | Yes | Yes | |
| Mutual Funds - StyleMap | Yes | Yes |
| Options Trading | Charles Schwab | Firstrade | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | Charles Schwab | Firstrade | |
|---|---|---|---|
| Bank (Member FDIC) | Yes | No | |
| Checking Accounts | Yes | Yes | |
| Savings Accounts | Yes | No | |
| Credit Cards | Yes | No | |
| Debit Cards | Yes | Yes | |
| Mortgage Loans | Yes | No |
| Customer Service | Charles Schwab | Firstrade | |
|---|---|---|---|
| Phone Support (Prospective Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospective Customers) | No | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | No |
| Overall | Charles Schwab | Firstrade | |
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| Winner | check_circle | ||
| Review | Charles Schwab Review | Firstrade Review |
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