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Cobra Trading vs Firstrade 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Firstrade better than Cobra Trading? After scoring brokers in nine separate categories for our 2019 review, Firstrade (67.1%) is better than Cobra Trading (49.66%). Founded in 1985, Firstrade has a long history of providing value for its customers. Known for its easy-to-use website, Firstrade offers $0 stock and options trading. Firstrade offers Morningstar research; however, its trading platform struggles to stand out against industry leaders.

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Overall Rating

Feature Cobra Trading Firstrade
Overall 2.5 3.5
Cobra Trading Review Firstrade Review

Trading Fees

Feature Cobra Trading Firstrade
Minimum Deposit $30,000.00 $0.00
Stock Trade Fee (per trade) N/A $0.00
ETF Trade Fee N/A $0.00
Options Base Fee N/A $0.00
Options Per Contract Fee $0.50 $0.00
Mutual Fund Trade Fee $25.00 $0.00
Broker Assisted Trades Fee $0.00 $19.95
Commissions & Fees 3 4
Winner check_circle

Margin Rates

Feature Cobra Trading
Open Account
Firstrade
Open Account
Under $24,999.99 5.25% 9.50%
$25,000.00 to $49,999.99 5.25% 9.00%
$50,000.00 to $99,999.99 5.25% 8.50%
$100,000.00 to $249,999.99 5.25% 8.00%
$250,000.00 to $499,999.99 5.25% 7.75%
$500,000.00 to $999,999.99 5.25% 6.00%
Above $1,000,000.00 5.25% 5.25%
Commissions & Fees 3 4
Winner check_circle

Account Fees

Feature Cobra Trading Firstrade
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $95.00 $0.00
Returned ACH Fee $25.00 $50.00
Returned Wire Fee $25.00 $50.00
Stock Certificate Processing Fee N/A $300.00
Stock Certificate Delivery Fee N/A $300.00
Paper Statement Fee $2.00 $5.00
Paper Confirmation Fee $3.00 $3.00
Domestic Wire Fee $20.00 $30.00
International Wire Fee $50.00 $50.00
Commissions & Fees 3 4

Investment Options

Feature Cobra Trading Firstrade
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
Yes No
Forex Trading
Yes No
Commission-Free ETFs 0 all
Mutual Funds (No Load)
0 5234
Mutual Funds (Total)
0 12603
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No Yes
Bonds (Municipal)
No Yes
Advisor Services
No No
International Trading
No No
Offering of Investments 3 3.5
Winner check_circle

Order Types

Feature Cobra Trading Firstrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
Yes Yes
Order Type - OTO
No Yes
Order Type - OTOCO
No No
Offering of Investments 3 3.5
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Trading Platforms

Feature Cobra Trading Firstrade
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
30 13
Two-Factor Authentication Login
No No
Heat Mapping
No Yes
Platforms & Tools 3 2
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Charting Features

Feature Cobra Trading Firstrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
36 58
Charting - Drawing Tools
9 5
Charting - Historical Trades
No No
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes No
Charting - Study Customizations
8 6
Charting - Custom Studies
No No
Platforms & Tools 3 2
Winner check_circle

Day Trading

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

Mobile Trading Apps

Feature Cobra Trading Firstrade
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
No No
Trading - Option Rolling
No No
Touch / Face ID
No Yes
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Mobile App Features

Feature Cobra Trading Firstrade
Watch List Syncing
No Yes
Stock Alerts - Basic Fields
No No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
No Yes
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 3.5
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Research Overview

Feature Cobra Trading Firstrade
Research - Stocks
Yes Yes
Research - ETFs
No Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
No Yes
Research - Fixed Income
No Yes
Screener - Stocks
No Yes
Screener - ETFs
No Yes
Screener - Mutual Funds
No Yes
Screener - Options
No No
Screener - Bonds
No Yes
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
No Yes
Research 1 4
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Stock Research

Feature Cobra Trading Firstrade
Stock Research - Reports
0 1
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1 4
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ETF Research

Feature Cobra Trading Firstrade
ETFs - Strategy Overview
No Yes
ETFs - Top 10 Holdings
No Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No Yes
ETFs - Reports
No Yes
Research 1 4
Winner check_circle

Mutual Fund Research

Feature Cobra Trading Firstrade
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No Yes
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No Yes
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No Yes
Mutual Funds - 3rd Party Ratings
No Yes
Research 1 4
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Options Trading

Feature Cobra Trading Firstrade
Option Chains - Streaming
Yes No
Option Chains - Total Columns
17 8
Option Chains - Greeks
0 5
Option Chains - Quick Analysis
No No
Option Analysis - P&L Charts
No No
Option Probability Analysis
No No
Option Probability Analysis Adv
No No
Option Positions - Greeks
No No
Option Positions - Adv Analysis
No No
Option Positions - Rolling
No Yes
Option Positions - Grouping
No No
Platforms & Tools 3 2
Winner check_circle

Beginners

Feature Cobra Trading Firstrade
Has Education - Stocks
No Yes
Has Education - ETFs
No No
Has Education - Options
No Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No Yes
Paper Trading
Yes No
Videos
No Yes
Webinars (Monthly Avg)
0 5
Webinars (Archived)
No Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 0.5 3
Winner check_circle

Banking

Feature Cobra Trading Firstrade
Retail Locations
0 2
Member FDIC
No No
Checking Accounts
No Yes
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No Yes
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 2
Winner check_circle

Overall

Feature Cobra Trading Firstrade
Cobra Trading Review Firstrade Review
Overall 2.5 3.5
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Cobra Trading vs Firstrade to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Cobra Trading and Firstrade have equal fees for trading stocks (equities), $0 per trade. For options trading, both Cobra Trading and Firstrade charge the same base fee of $N/A. Each option contract then costs $0.50 at Cobra Trading and $0 at Firstrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Firstrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Cobra Trading provides clients access to Stock Trading, Options Trading, Forex Trading and Futures Trading. As far as mutual funds go, Firstrade boasts an offering of 12603 mutual funds compared to Cobra Trading's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Cobra Trading offers virtual trading while Firstrade does not. For mobile trading, Cobra Trading offer clients access to an iPhone App and Android App while Firstrade has an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are offered by Firstrade while Cobra Trading offers none of these.

Overall, between Cobra Trading and Firstrade, Firstrade is the winner.

Cobra Trading Review
Firstrade Review


All pricing data was obtained from a published web site as of 02/18/2019 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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