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Firstrade vs Cobra Trading 2019

Blain Reinkensmeyer

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 Cobra Trading better than Firstrade? Based on over 4,000 data points from our 2019 annual broker review, Firstrade (67.1%) is better than Cobra Trading (49.66%). While Firstrade lacks a feature-rich platform, the broker offers commission-free trading, maintains a clean website, and offers its customers the basics to maintain a long-term portfolio.

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Overall Rating

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

Trading Fees

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

Margin Rates

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

Account Fees

Feature Firstrade Cobra Trading
IRA Annual Fee 0 35
IRA Closure Fee 0 95
Returned ACH Fee 50 25
Returned Wire Fee 50 25
Stock Certificate Processing Fee 300 N/A
Stock Certificate Delivery Fee 300 N/A
Paper Statement Fee 5 2
Paper Confirmation Fee 3 3
Domestic Wire Fee 30 20
International Wire Fee 50 50
Commissions & Fees 4 3

Investment Options

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

Feature Firstrade Cobra Trading
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 No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes No
Order Type - OTOCO
No No
Offering of Investments 3.5 3
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Trading Platforms

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

Charting Features

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

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

Mobile Trading Apps

Feature Firstrade Cobra Trading
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
Yes No
Winner check_circle

Mobile App Features

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

Feature Firstrade Cobra Trading
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Research - Futures
No No
Research - Forex
No No
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 1
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Stock Research

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

Feature Firstrade Cobra Trading
ETFs - Strategy Overview
Yes No
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 1
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Mutual Fund Research

Feature Firstrade Cobra Trading
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 1
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Options Trading

Feature Firstrade Cobra Trading
Option Chains - Streaming
No Yes
Option Chains - Total Columns
8 17
Option Chains - Greeks
5 0
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
Yes No
Option Positions - Grouping
No No
Platforms & Tools 2 3
Winner check_circle

Beginners

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

Banking

Feature Firstrade Cobra Trading
Retail Locations
2 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
Winner check_circle

Overall

Feature Firstrade Cobra Trading
Firstrade Review Cobra Trading Review
Overall 3.5 2.5
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 Cobra Trading vs Firstrade. Is Cobra Trading or Firstrade a better online broker?

First, we will make a comparison of the stock and option trading fees for trading with both brokers. Cobra Trading and Firstrade both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $N/A. Each option contract then costs $0.50 at Cobra Trading 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. Firstrade offers clients Stock Trading, Options Trading and Mutual Funds while Cobra Trading offers Stock Trading, Options Trading, Forex Trading and Futures Trading. When it comes to mutual funds, Firstrade boasts an offering of 12603 mutual funds compared to Cobra Trading's 0 available funds.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Cobra Trading offers virtual trading while Firstrade does not. For mobile trading, Cobra Trading 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 Cobra Trading can have 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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