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Charles Schwab vs Firstrade 2025

StockBrokers.com

Written by StockBrokers.com

September 17, 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.

Charles Schwab
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5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Firstrade
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Range of investments

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 Charles Schwab logoCharles Schwab
Firstrade logoFirstrade
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Range of Investments 5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market

Trading platforms and tools

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 Charles Schwab logoCharles Schwab
Firstrade logoFirstrade
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Paper Trading info Yes No
Watch Lists - Total Fields info 580 50
Charting - Indicators / Studies info 374 102
Charting - Drawing Tools info 24 8
Platforms & Tools 5/5 Stars 3/5 Stars

Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025

Featured Offers


5/5 Stars

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Beginners and education

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 Charles Schwab logoCharles Schwab
Firstrade logoFirstrade
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes No
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes Yes
Education 5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

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 Charles Schwab logoCharles Schwab
Firstrade logoFirstrade
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Stock Alerts info Yes Yes
Charting - After-Hours info Yes No
Charting - Technical Studies info 373 81
Mobile Trading Apps 5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

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 logoCharles Schwab
Firstrade logoFirstrade
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 $0.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $0.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

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 logoCharles Schwab
Firstrade logoFirstrade
Streaming Time & Sales info Yes No
Streaming TV info Yes No
Direct Market Routing - Equities info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders

Market Research

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 Charles Schwab logoCharles Schwab
Firstrade logoFirstrade
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Screener - Mutual Funds info Yes Yes
Research - Fixed Income info Yes Yes
Screener - Fixed Income info Yes Yes
Research 5/5 Stars 4.5/5 Stars

Banking

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 logoCharles Schwab
Firstrade logoFirstrade
Checking Accounts info Yes Yes
Savings Accounts info Yes No
Debit Cards info Yes Yes
Credit Cards info Yes No
Mortgage Loans info Yes No
Brokerage CDs info Yes Yes

Dive deeper: Best Brokerage Checking Accounts for 2025

Winner

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.

FAQs

Can you trade cryptocurrency with Charles Schwab or Firstrade?

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

Does Charles Schwab or Firstrade offer IRAs?

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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Compare

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Overall Rating Charles Schwab Firstrade
Overall 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Customer Service 4.5/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Winner check_circle
Review Charles Schwab Review Firstrade Review
Broker Screenshots Charles Schwab Firstrade
Broker Gallery (click to expand)
Trading Fees Charles Schwab Firstrade
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $6.95 $0.00
Mutual Fund Trade Fee info Varies $0
Options (Per Contract) info $0.65 $0.00
Futures (Per Contract) info $2.25 (Not offered)
Broker Assisted Trade Fee info $25 $19.95
Margin Rates Charles Schwab Firstrade
Margin Rate Under $25,000 info 12.58% 12.75%
Margin Rate $25,000 to $49,999.99 info 12.08% 12.50%
Margin Rate $50,000 to $99,999.99 info 11.13% 12.00%
Margin Rate $100,000 to $249,999.99 info 11.08% 11.50%
Margin Rate $250,000 to $499,999.99 info 10.83% 11.25%
Margin Rate $500,000 to $999,999.99 info Varies info 9.35%
Margin Rate Above $1,000,000 info Varies info 8.75%
Account Fees Charles Schwab Firstrade
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $0.00
Account Transfer Out (Partial) info $0.00 $55.00
Account Transfer Out (Full) info $50.00 $75.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
Investment Options Charles Schwab Firstrade
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes No
Forex Trading info Yes No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Fixed Income (Treasurys) info Yes Yes
Fixed Income (Corporate Bonds) info Yes Yes
Fixed Income (Municipal Bonds) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 12 0
Order Types Charles Schwab Firstrade
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Charles Schwab Firstrade
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes No
Education (Retirement) info Yes Yes
Retirement Calculator info Yes Yes
Investor Dictionary info Yes Yes
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes Yes
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Charles Schwab Firstrade
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Charles Schwab Firstrade
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Stock App Charting Charles Schwab Firstrade
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info Yes Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 373 81
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes Yes
Trading Platforms Charles Schwab Firstrade
Active Trading Platform info thinkorswim info N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info Yes No
Watch Lists - Total Fields info 580 50
Stock Chart Features Charles Schwab Firstrade
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 374 102
Charting - Drawing Tools info 24 8
Charting - Notes info Yes No
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 35 6
Charting - Custom Studies info Yes No
Day Trading Charles Schwab Firstrade
Streaming Time & Sales info Yes No
Streaming TV info Yes No
Direct Market Routing - Equities info Yes No
Ladder Trading info Yes No
Trade Hot Keys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info No No
Research Overview Charles Schwab Firstrade
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Fixed Income info Yes Yes
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes Yes
Screener - Fixed Income info Yes Yes
Portfolio Asset Allocation info Yes Yes
Stock Research Charles Schwab Firstrade
Stock Research - PDF Reports info 7 1
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info Yes Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes Yes
Stock Research - SEC Filings info Yes Yes
ETF Research Charles Schwab Firstrade
ETFs - Investment Objective info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Total Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes Yes
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes Yes
ETFs - PDF Reports info Yes Yes
Mutual Fund Research Charles Schwab Firstrade
Mutual Funds - Investment Objective info Yes Yes
Mutual Funds - Performance Chart info Yes Yes
Mutual Funds - Performance Analysis info Yes Yes
Mutual Funds - Prospectus info Yes Yes
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes Yes
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes Yes
Mutual Funds - Sector Allocation info Yes Yes
Mutual Funds - Country Allocation info Yes Yes
Mutual Funds - StyleMap info Yes Yes
Options Trading Charles Schwab Firstrade
Option Chains - Total Greeks info 5 5
Option Analysis - P&L Charts info Yes Yes
Banking Charles Schwab Firstrade
Bank (Member FDIC) info Yes No
Checking Accounts info Yes Yes
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes Yes
Mortgage Loans info Yes No
Customer Service Charles Schwab Firstrade
Phone Support (Prospective Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospective Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes No
Overall Charles Schwab Firstrade
Overall 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Winner check_circle
Review Charles Schwab Review Firstrade Review
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