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Firstrade vs ChoiceTrade 2020

Is ChoiceTrade better than Firstrade? After testing 15 of the best online brokers over five months, Firstrade (76.33%) is better than ChoiceTrade (62.57%). Firstrade offers $0 stock, ETF, and options trades, and is best known for its easy-to-use website, alongside its Chinese language services. While Firstrade offers Morningstar research and a variety of tools, its overall offering struggles to stand out against household name brands who are also priced at $0.

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Overall Rating

Feature Firstrade ChoiceTrade
Overall 4 3
Firstrade Review ChoiceTrade Review

Trading Fees

Feature Firstrade ChoiceTrade
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.00 $0.40
Mutual Fund Trade Fee $0.00 N/A
Broker Assisted Trades Fee $19.95 $30.00
Commissions & Fees 4.5 4.5
Winner check_circle

Margin Rates

Feature Firstrade ChoiceTrade
Under $24,999.99 9.00% 7.75%
$25,000.00 to $49,999.99 8.75% 7.75%
$50,000.00 to $99,999.99 8.25% 7.75%
$100,000.00 to $249,999.99 7.75% 7.75%
$250,000.00 to $499,999.99 7.50% 7.75%
$500,000.00 to $999,999.99 5.60% 8.25%
Above $1,000,000.00 5.00% 8.25%
Commissions & Fees 4.5 4.5
Winner check_circle

Account Fees

Feature Firstrade ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $0.00 $50.00
Returned ACH Fee $50.00 $40.00
Returned Wire Fee $50.00 $40.00
Stock Certificate Processing Fee $300.00 N/A
Stock Certificate Delivery Fee $300.00 N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $3.00 $1.00
Domestic Wire Fee $30.00 $35.00
International Wire Fee $50.00 $60.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Firstrade ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all All
Mutual Funds (No Load)
10746 0
Mutual Funds (Total)
14939 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 4 2.5
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Order Types

Feature Firstrade ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
No No
Offering of Investments 4 2.5
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Trading Platforms

Feature Firstrade ChoiceTrade
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
47 19
Heat Mapping
Yes Yes
AI Assistant Bot
No No
Platforms & Tools 2.5 3
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Charting Features

Feature Firstrade ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
58 42
Charting - Drawing Tools
8 4
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
No Yes
Charting - Study Customizations
6 2
Charting - Custom Studies
No No
Platforms & Tools 2.5 3
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Day Trading

Feature Firstrade ChoiceTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No Yes
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No No
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
No Yes
Short Locator
No No
Order Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Firstrade ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature Firstrade ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 3.5
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Research Overview

Feature Firstrade ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
Yes No
Research 4 2
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Stock Research

Feature Firstrade ChoiceTrade
Stock Research - Reports
1 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 4 2
Winner check_circle

ETF Research

Feature Firstrade ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4 2
Winner check_circle

Mutual Fund Research

Feature Firstrade ChoiceTrade
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4 2
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Options Trading

Feature Firstrade ChoiceTrade
Option Chains - Streaming
No Yes
Option Chains - Total Columns
8 18
Option Chains - Greeks
5 4
Option Chains - Quick Analysis
No Yes
Option Analysis - P&L Charts
No Yes
Option Probability Analysis
No Yes
Option Probability Analysis Adv
No Yes
Option Positions - Greeks
No Yes
Option Positions - Adv Analysis
No Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
No Yes
Platforms & Tools 2.5 3
Winner check_circle

Beginners

Feature Firstrade ChoiceTrade
Education (Stocks)
Yes No
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
Yes No
Paper Trading
No Yes
Videos
Yes No
Webinars (Monthly Avg)
6 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3 1.5
Winner check_circle

Banking

Feature Firstrade ChoiceTrade
Retail Locations
1 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 2 0.5

Overall

Feature Firstrade ChoiceTrade
Firstrade Review ChoiceTrade Review
Overall 4 3
Winner check_circle

The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares ChoiceTrade vs Firstrade. Is ChoiceTrade or Firstrade a better online broker?

First, we will make a comparison of the stock and option trading fees for trading with both brokers. ChoiceTrade and Firstrade charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.40 at ChoiceTrade and $0 at Firstrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.

For our next comparison of these two brokers, being able to trade the way you want is a must. ChoiceTrade supports Stock Trading and Options Trading while Firstrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Firstrade offers its clients access to 14939 different mutual funds while ChoiceTrade has 0 available funds, a difference of 14,939.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade has virtual trading, Firstrade doesn't. For mobile trading, ChoiceTrade supports the iPhone App and Android App while Firstrade supports the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at Firstrade while customers at ChoiceTrade can have none of these.

Overall, between ChoiceTrade and Firstrade, Firstrade is the winner.

ChoiceTrade Review
Firstrade Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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