Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare E*TRADE 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. E*TRADE, with its regular stock trades costing $6.95, is more expensive than Firstrade's rate of $4.95 per trade. For options trading, E*TRADE has a base fee of $6.95, and Firstrade a base fee of $4.95. Firstrade's per contract rate of $0.65 is less than E*TRADE which charges $0.75. 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 offers clients Stock Trading, Options Trading and Mutual Funds while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Firstrade boasts an offering of 12191 mutual funds compared to E*TRADE's 8652 available funds. And, commission free ETFs deserve a comparison, with E*TRADE having the upper hand thanks to its 133 available commission free ETFs compared to Firstrade's offering of 12.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither E*TRADE and Firstrade offer virtual trading. For mobile trading, Firstrade offer clients access to an iPhone App and Android App while E*TRADE 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. Both E*TRADE and Firstrade offer Checking Accounts and Debit Cards. All factors considered, when it comes to platform tools, research, and mobile trading, E*TRADE finished with awards Best in Class - Research and Best in Class - Mobile Trading in 2017, while Firstrade came up with none of these.
Overall, E*TRADE takes the upper hand with 4.00 stars over Firstrade's 3.50 stars.