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 comparing the trading platforms and tools of Charles Schwab and Firstrade, Charles Schwab stands out as the superior choice. It offers highly versatile and sophisticated tools, earning a 5-star rating, and is ranked #1 out of 14 brokers by StockBrokers.com. Firstrade, while still a viable option with a 3-star rating and a #11 ranking, does not match the extensive features provided by Charles Schwab's trading platforms.
Charles Schwab provides comprehensive platform access, including desktop applications for Windows and Mac, alongside a browser-based platform. This flexibility caters to traders who require versatile access points. In contrast, Firstrade only offers a browser-based platform, lacking desktop options. This difference may influence a trader's decision, particularly for those who prefer specialized desktop applications for intensive trading.
For traders seeking advanced tools, Charles Schwab offers an impressive array of features. With 374 technical indicators, the ability to adjust open orders directly on stock charts, save multiple chart profiles, and create custom studies, Schwab meets the needs of even the most demanding traders. In comparison, Firstrade's offerings are limited with 102 technical indicators, fewer drawing tools, and basic functionalities. The absence of features like paper trading and advanced chart customization options may deter traders looking for a more enriched trading experience.
Feature |
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|
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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 it comes to choosing the right stock trading app, Charles Schwab and Firstrade both present compelling options for investors, yet they cater to slightly different needs. Charles Schwab stands out with a perfect 5-star rating and ranks as the number one trading app according to StockBrokers.com, making it a top choice for those who prioritize comprehensive features and accessibility. Meanwhile, Firstrade, with its respectable 4.5-star rating and ranking at number nine, offers a user-friendly app suitable for cost-conscious investors. Both apps provide iPhone and Android support, but Schwab pulls ahead with its Apple Watch app and additional features like streaming live TV and videos on demand, which Firstrade does not offer.
Analyzing specific capabilities, Charles Schwab offers an exceptional range of features, including mobile after-hours trading, streaming quotes, and customizable watchlists—features also supported by Firstrade. However, Schwab enriches the user experience further with after-hours charting and the ability to display stock comparisons on charts. Additionally, Schwab provides a significantly higher number of technical studies for charting, 373 compared to Firstrade's 81, allowing more in-depth technical analysis for users inclined towards detailed data assessments.
Both Charles Schwab and Firstrade enable mobile options trading and stock alerts, ensuring that users can efficiently manage their investments on the go. The capability to view charts in landscape mode and analyze multiple time frames adds to the convenience of both platforms. Ultimately, the choice between these two apps depends on the user's requirements; Schwab's extensive features make it ideal for active traders seeking a versatile platform, whereas Firstrade presents a solid, straightforward option for those prioritizing simplicity and cost-effectiveness.
Feature |
|
|
---|---|---|
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 2025
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 |
|
|
---|---|---|
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 of 2025 for Beginners and Active Traders
For investors prioritizing market research, both Charles Schwab and Firstrade deliver a comprehensive array of tools and insights. Charles Schwab slightly edges out with a wider selection of downloadable PDF reports and overall market research features, earning a top rating of 5 stars and securing the #1 spot in StockBrokers.com's ranking of 14 brokers for market research. Firstrade, while highly competitive with a 4.5-star rating, ranks #6 and offers fewer downloadable stock research reports but still provides a thorough set of options for the informed investor.
When it comes to the scope of research, both brokers cover a broad spectrum of asset classes, including stocks, ETFs, mutual funds, bonds, and even Pink Sheets/OTCBB. Each also offers portfolio allocation views by asset class and incorporates social media sentiment data, reflecting their commitment to providing modern and comprehensive market insights. ESG research is available from both platforms, catering to investors who consider Environmental, Social, and Governance factors in their decision-making.
Tools for generating trade ideas include robust screeners for stocks, ETFs, mutual funds, and bonds available on both platforms. Though Schwab offers more in-depth resources with seven downloadable stock research reports compared to Firstrade's one, both platforms enhance investors' abilities to make informed decisions with their respective research capabilities. This comparison underscores that both brokers are well-equipped to support a diverse range of investment strategies, with Charles Schwab having a slight advantage in the depth of its offerings.
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 | 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 | |
---|---|---|---|
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 | 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 | |
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 | 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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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 |