Charles Schwab vs Firstrade 2025
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.
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.
When comparing Charles Schwab and Firstrade, it's clear that both offer a wide array of investment options, though Charles Schwab slightly edges out with its more comprehensive range, earning it 5 stars and a #2 rank in Range of Investments by StockBrokers.com. Firstrade, while slightly behind with a 4.5-star rating and a #6 rank, remains a formidable choice for retail investors, particularly those focused solely on stocks, mutual funds, and other common investment types. Although neither platform offers cryptocurrency trading, Charles Schwab's additional offerings such as forex and futures trading, alongside advisor services, give it an advantage over Firstrade's more streamlined features.
For those interested in stock and margin trading, both Charles Schwab and Firstrade provide solid options, with capabilities for fractional shares and over-the-counter (OTC) stocks. Mutual fund enthusiasts and options traders will find extensive opportunities on both platforms. However, if you're looking to dive into futures or forex trading, Charles Schwab is the only choice among the two, as Firstrade does not support these investment types.
Retirement planning is made easy with both platforms offering traditional and Roth IRA accounts. However, when it comes to personalized investment advice, Charles Schwab stands apart by providing advisor services, a feature not available at Firstrade. As you consider your investing needs, whether it's broad diversification or just a simple, uncluttered investment experience, both brokers offer strong features, with the slight edge going to Charles Schwab for those needing a wider range of investment tools and services.
Feature |
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|
---|---|---|
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 |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When it comes to choosing a trading platform, Charles Schwab and Firstrade stand out in the brokerage sector with distinctive offerings tailored to different kinds of investors. Charles Schwab consistently earns high marks in industry rankings, securing the top position out of 14 brokers for its comprehensive trading platforms and tools. Alternatively, Firstrade, while user-friendly and accessible, comes in at a more modest rank of #11. This difference is reflected in customer ratings, with Charles Schwab's platform being rated 5 stars compared to Firstrade's 3-star rating. Whether you're a seasoned trader or just starting, your choice will largely depend on what features and tools you prioritize for your trading experience.
Charles Schwab's trading platform versatility is hard to overlook. It supports both Windows and Mac downloadable platforms, which means you can keep track of your investments even when offline. The browser-based platform is equally efficient, rivaling its desktop counterparts. Moreover, Schwab distinguishes itself with features that enhance trading precision and strategy, such as paper trading, a trading journal, and the flexibility to adjust open orders directly on stock charts. The sheer volume of watch list customization options—580 columns—further enhances its appeal to traders who value personalizing their trading dashboards.
Firstrade, by contrast, is more streamlined but lacks many of the advanced features that Charles Schwab users enjoy. With a focus on accessibility, Firstrade only offers a browser-based trading platform. While this might suit beginner investors looking for straightforward online access, advanced traders might find the feature set limiting. For instance, Firstrade does not support paper trading, trading journals, or advanced charting functionalities like adjusting open orders directly on charts or saving multiple chart profiles. Although Firstrade does provide essential charting tools, its offerings are basic and might not suffice for those seeking in-depth technical analysis capabilities.
Feature |
|
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | No |
Desktop Platform (Mac) | Yes | No |
Paper Trading | Yes | No |
Watch Lists - Total Fields | 580 | 50 |
Charting - Indicators / Studies | 374 | 102 |
Charting - Drawing Tools | 24 | 8 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
When it comes to investor education, Charles Schwab and Firstrade offer a range of resources, but there are noticeable differences in their scope and depth. Charles Schwab provides extensive educational materials covering stocks, ETFs, options, mutual funds, and bonds, giving beginners a well-rounded foundation. Schwab also supports its users with paper trading, educational videos, webinars, quizzes, and a feature to track learning progress. Meanwhile, Firstrade offers education on stocks and options along with videos and webinars but lacks coverage in ETFs, mutual funds, and bonds, which can limit the learning opportunities for users looking to deepen their financial knowledge in these areas.
In terms of user feedback and rankings, Charles Schwab stands out with a perfect 5-star rating for its educational offerings and holds the top spot among 14 brokers ranked by StockBrokers.com. Firstrade, while commendable, receives a 3.5-star rating and is ranked 12th. These metrics reflect the more comprehensive educational tools and supportive learning environment provided by Charles Schwab, making it a potentially more valuable resource for beginners eager to enhance their investing skills.
Feature |
|
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | No |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Fixed Income) | Yes | No |
Paper Trading | Yes | No |
Videos | Yes | Yes |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When choosing between Charles Schwab and Firstrade for stock trading apps, Charles Schwab stands out as the leader. With a top rating of 5 stars and a #1 ranking by StockBrokers.com among 14 brokers, Schwab offers a comprehensive suite of features that are hard to beat. It not only supports iPhone and Android apps but also offers an Apple Watch app, a feature Firstrade lacks. While both platforms provide mobile options trading and the ability to create custom watch lists, Schwab takes a step further by offering streaming live TV, videos on demand, and more than quadruple the number of technical studies for charting compared to Firstrade.
Both Charles Schwab and Firstrade cater to mobile traders by providing reliable apps on both iPhone and Android platforms. They allow users to engage in mobile options trading and create customizable watch lists with adjustable columns. However, Charles Schwab excels with additional features like streaming quotes, stock alerts, and the capacity to view charts in multiple time frames. Schwab’s app also supports mobile after-hours trading, a feature that remains uncertain for Firstrade, highlighting a crucial advantage for active traders.
The charting capabilities further distinguish Charles Schwab’s app from Firstrade’s offering. Schwab provides a robust 373 technical studies, significantly more than the 81 available on Firstrade. Both apps let users view charts in landscape mode and explore multiple time frames. However, Schwab uniquely offers stock comparison on charts, which enhances its analytical tools for investors. These elements underline why Charles Schwab consistently ranks higher, making it an excellent choice for traders seeking an enriched mobile trading experience.
Feature |
|
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | Yes | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | No | No |
Charting - Technical Studies | 373 | 81 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When choosing between Charles Schwab and Firstrade for your online brokerage needs, it’s important to consider both account fees and additional charges. Both platforms offer competitive features but differ when it comes to certain costs. Charles Schwab is notable for its low margin rates, especially for account balances between $25,000 and $99,999, making it an attractive choice for those who might require margin trading. On the other hand, Firstrade excels in offering free options trading, which can be a significant benefit for those frequently involved in options contracts. Each broker presents a unique set of advantages, tailored to different investment needs.
With a keen eye on stock trade executions, neither Charles Schwab nor Firstrade charge commissions on regular stock trades, offering affordable investing opportunities for their clients. Both platforms also require no minimum deposit or annual fees for IRA accounts, ensuring ease of accessibility for new investors. However, a closer look at options trading costs reveals that while Schwab charges $0.65 per contract, Firstrade offers this service for free, appealing to active options traders.
Beyond trade-related costs, margin rates display significant variance between the two brokers. Charles Schwab provides lower rates for most margin balance tiers compared to Firstrade, potentially lowering borrowing costs for investors engaging in margin trading. However, if account transfers are on your horizon, note that Schwab typically has lower or comparable fees, with no charge for partial transfers as opposed to Firstrade's $55 fee. In contrast, full account transfers are slightly higher with Firstrade, costing $75, while Charles Schwab charges $50, underscoring the importance of considering each broker's fee structure in relation to your specific trading strategies and requirements.
Feature |
|
|
---|---|---|
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 2025
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 |
|
|
---|---|---|
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 for 2025
When comparing the market research capabilities of Charles Schwab and Firstrade, both offer comprehensive options that cater to investors. However, Schwab takes the lead with a perfect five-star rating, ranking first out of 14 brokers according to StockBrokers.com. Firstrade, with a solid 4.5-star rating, ranks sixth, showcasing a commendable range of research features. Both platforms provide robust market research options including stock, ETF, mutual fund, and bond reviews, but Schwab edges out Firstrade with more extensive coverage and resources.
Both Charles Schwab and Firstrade excel in various research aspects, offering insights into stocks, ETFs, mutual funds, and bonds. They allow investors to assess portfolio allocation by asset class, analyze stocks using social media sentiment data, and access ESG (Environmental, Social, and Governance) research. However, Schwab surpasses Firstrade with seven downloadable PDF research reports for stocks compared to Firstrade's one, and offers PDF reports for mutual funds, which Firstrade does not. Both brokers provide PDF reports for ETFs and support stock, ETF, and bond screening for trade ideas.
Additionally, both platforms are equipped with mutual fund screening capabilities, yet Schwab presents a more extensive suite of research materials, significantly contributing to its higher ranking. The differences in research materials, particularly the breadth and depth of downloadable content, make Schwab a preferable choice for those seeking in-depth market analysis.
Feature |
|
|
---|---|---|
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 |
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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 |
|
|
---|---|---|
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 2025
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 99.2%, while Firstrade finished with a score of 81.8%.
With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.
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 2025
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.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Charles Schwab | Firstrade | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | Firstrade Review |
Broker Screenshots | Charles Schwab | Firstrade | |
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Broker Gallery (click to expand) |
Trading Fees | Charles Schwab | Firstrade | |
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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 | 13.575% | 13.75% | |
Margin Rate $25,000 to $49,999.99 | 13.075% | 13.50% | |
Margin Rate $50,000 to $99,999.99 | 12.125% | 13.00% | |
Margin Rate $100,000 to $249,999.99 | 12.075% | 12.50% | |
Margin Rate $250,000 to $499,999.99 | 11.825% | 12.50% | |
Margin Rate $500,000 to $999,999.99 | Varies | 12.50% | |
Margin Rate Above $1,000,000 | Varies | 12.50% |
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 | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | Yes | No | |
Videos on Demand | Yes | No | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | Yes |
Stock App Charting | Charles Schwab | Firstrade | |
---|---|---|---|
Charting - After-Hours | No | 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 | No |
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 | |
Watch Lists - 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 | No | |
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 (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | Yes | |
Live Chat (Prospect Customers) | No | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | Yes | No |
Overall | Charles Schwab | Firstrade | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | Firstrade Review |